The most important part of your business is your customers, the people who buy your product or service. The purpose of a business is to make a profit, and profit…
When venture capitalists hear the words 'high technology' they seldom reach for their cheque books in a hurry; it is a culture with which most of them have yet to…
Some recent research into the causes of bankruptcy among small firms shows that, while poor sales, bad initial choice of site, misguided spending and sheer bad luck were all factors…
Cash flow is a major factor in the daily life of every small businessman, and rising bankruptcy and liquidation rates have emphasized its importance. However, ideas for actually speeding up…
While luck naturally plays its part, the main reason for the success of a business is that it has developed a sound strategy and persisted in implementing it, a course…
The firm's product or process lies at the centre of most small firm managers' thinking about their companies. The ability to make some item well, to offer a special service…
The first-time business computer user has a lot to learn, but getting help from data protection services is something they should consider at an early stage. Computer fraud may be…
Many people involved in the field of computers for the small and medium-sized business - with the exception of the computer salesmen - would probably agree that the majority of…
The first person you employ is often a friend or a member of the family. How do you set about finding someone you do not know, and selecting the right…
The first thing anyone needs before setting up any kind of business is an idea, or perhaps more precisely the idea of starting in business at all. It sometimes happens…
Informed managers are better managers. It is fair to say that we all wish to be better managers, bearing in mind that good management is the key to 'corporate success'.…
The amount of gross pay, plus overtime rates if applicable, will have been agreed between you at the interview/job offer stage. It is also useful to agree at that early…
Keeping sales ledger debtors to a minimum is vitally important to the expansion, and sometimes even the survival, of small firms. Streamlining the method of raising invoices will, by itself,…
Another major current asset which in most businesses requires similar attention to debtor control is stock. Stockholding in a manufacturing operation generally comprises raw materials, work-in-progress and finished goods, although…
The range of sources of finance for the smaller firm seems to increase every year but in spite of that there is inevitably a chorus of voices from the small…
Building Societies which have become banks may allow a small trader or partnership to open a business account. Charges and services vary, so it is wise to shop around. You…
Large companies are being increasingly criticized for their slow payment to small suppliers. Reports on research by, among others, the London Enterprise Agency and the Association of Independent Businesses show…
Budgeting is an activity which is undertaken by most people in their private lives, and yet one constantly meets arguments from small businessmen that it is not relevant to the…
The concept of cash budgeting, or cash flow forecasting as it is otherwise known, is not new. Many large companies have been using the technique as a tool of management…