chester small business budget

Is Your Small Business Losing Money? – The Seven Little Known Reasons Why It’s Happening

Are you wondering why your revenue and profit seem to be on a decline? It’s not always about the number of clients.   Losses in business are fairly common. But some business owners tend to attribute them solely to inefficient sales and marketing.  However, that’s not the only way a small company can lose money. …

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How to Protect Your Startup During Tough Economic Times

There are very few people who would consider an economic downturn to be good news, but tough economic times are particularly difficult for startup business owners. Unlike well-established businesses, startups lack coping mechanisms and support systems; the safety net is much thinner. However, hard times don’t have to prove fatal to your startup business. If …

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The Four Cash Flow Forecasting Blunders That Lead to an Inaccurate Financial Picture

Cash flow forecasting is a powerful tool for businesses of all sizes. To make it all the more effective, avoiding these common mistakes is crucial. Making projections can be incredibly beneficial for controlling the financial situation in a business. Because of this, financial reports are the most important aspect of company accounting.  The forecast serves …

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Making More Profit From Your Client – The Five Techniques You Can Try

Maintaining a productive relationship with your customers can go a long way in boosting your profit. Updating your offer will significantly contribute to that goal.  After its initial success, your business can take steps to drive more sales and attract new customers. From improving your offer to creating a loyal customer base, here are five …

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Cash Flow vs Profit: What’s the Difference and Which is More Important?

It’s the age-old debate: cash flow or profit? Whilst the two are undoubtedly related, they are certainly not the same thing and business owners must often sacrifice one at the expense of the other. In the long term, a business needs both positive cash flow and profits to continue operation, but which one should entrepreneurs …

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4 Ways Your Startup Can Boost Profitability in the Wake of the Pandemic

There’s no denying that the covid-19 pandemic has been a difficult time for startup enterprises. If the past year or so has proven anything, it’s that the agile organisations are the ones who are set to survive. There are ways you can boost profitability during these uncertain times, and it’s not all about cutting costs, …

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How to Work Out Whether Your Small Business Is Profitable Or Not

As a small business owner, you always have a million-and-one things to think about. It can be difficult to stay on top of the numbers and know which ones matter when it comes to the financial health of your business. However, it’s essential that you know whether you’re operating at a profit or not. Burying …

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Why Cloud Software Will Never Replace Accountants

It seems like everyday we hear about another industry being threatened by the advancements in technology, but is accounting one of them? Cloud based accounting software certainly has risen in popularity in recent years, but Quickbooks and Xero are no replacement for living, breathing professionals – and here’s why…  Location Freedom  Before we dive into …

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The Five Vital Components That a Good Cash Flow Forecast Must Have

Not sure where you stand and where your business is heading? A cash flow forecast can give you a good idea.   Before listing the components of a cash flow forecast, it’s crucial to understand the concept of what this kind of forecast is. Essentially, it’s a vital tool that helps you understand your finances. …

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The Four Killer Distractions That Reduce Productivity

Optimising the workflow isn’t always as straightforward as it seems, with inevitable distractions frequently present in the background. Here are some of the worst offenders in that regard. Every business strives to make its processes as efficient as possible. However, there are various distractions in the workplace that can be unavoidable. Some can be latently …

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