The process of growing a small business to maturity can be a lot like raising a child: some key principles remain constant, while others require adapting to your business’s changing needs. Commitment is always paramount, but where you invest your time and energy must evolve.
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The phrase “work smart, not hard” has become a common business-motto in recent decades, with admin and inefficient workflows increasingly eating up time. This is especially true for SME owners, who often do the work of several people, rather than focusing on high-value work.
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As we head into the holiday season, here are our top six business tips for ending 2018 on a positive note.
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As an organisation that trades business-to-business, do you sell to your customers on credit terms? You may, for example, have agreed to net 30 days. This means that the customer must pay within 30 days of the invoice date. Or, are you dealing with credit sales terms that run into months?
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For many companies, cash flow problems can feel like an eternal winter. When funds begin to dry up, business slows down and growth plans go into hibernation. If this sounds familiar – it may be time to spring clean your business finances.
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Collecting payments when these are due is vital for any business to succeed. Late payments by your customers can lead to an array of issues such as cash flow problems, low productivity and stress.
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Are you gearing up for a new growth phase in your business? Or are you struggling to make ends meet as you wait for your customers to pay their invoices? There are many reasons why companies choose to factor their invoices. (Read More).
As a business owner, you may have reached the point where you’re ready to grow your sales. Perhaps you want to seize an exciting new opportunity in the market or expand into new locations. Maybe you’re ready to introduce a new product line or you want to hire new skills. While there’s no limit to your growth plans – you may well be limited by your cash flow. (Read More).
Accessing working capital to boost cash flow or pay off debt can be a challenge for any business. As a smaller company, this can feel especially daunting. When the banks turn down your loan application, where can you go? (Read More).
Needing access to finance is part and parcel of running a business. And many companies explore the traditional bank loan route first. However, conventional sources of capital are not easy to get. (Read More).
As a small company that has battled to access working capital in the past, you may be wondering whether fintech is the business finance solution you’ve been looking for.(Read More).
In South Africa, experts predict that SMEs will provide 90% of all new jobs by 2030. As the owner or financial director of a small business, you may be wondering how you will ever get to the point where you’ll be able to hire more staff – staying in business is challenge enough! (Read More).
Access to capital can be a huge stumbling block for small businesses in South Africa. This does not only apply to start-ups looking for funding to get off the ground.(Read More).
When your company sells products to a customer and allows them to pay later, you are selling on credit. This benefits your customer, who gets to wait a month or more before paying your invoice. Credit sales terms vary, sometimes permitting customers 30, 60, 90 or even 120 days to pay after receiving the invoice. (Read More).
Research shows that the European Union (EU)’s factoring market is expanding at a constant and steady pace. The EU Federation for Factoring and Commercial Finance recently released its half year turnover results for the region’s factoring sector. According to these findings, factoring turnover continued to increase in the first half of 2017 – following on from seven years of consecutive growth in this burgeoning market. (Read More).
As 2018 begins, what are your business goals for the year ahead? If you’re planning to expand, explore new opportunities or simply keep your finances healthier than they were last year, here are three top tips. (Read More).
Is sound cash flow management high on your organisation’s agenda for next year? Here are five top tips for keeping your business finances healthy during 2018 and beyond. (Read More).