5 cash flow goals that every business should aim for
Maintaining a cash flow positive situation is something that many small businesses struggle with. After all, it only takes one or two late payments from a client to fall behind on payment obligations.Fall too far behind and you may find yourself among the who fail every year due to cash flow problems.While there are many steps you can take to , why get yourself into trouble in the first place? 1. Pay attention to margins2. Pay yourself a salary3. Have finances in reserve4. Avoid debt 5. Save for growth Read the full article from Xero here. Not sure how to read your cash flow statement? Give us a call on 033795338 to see how we can help.
Get Prompt Payment On Your Invoices
Small businesses are carrying billions of dollars worth of unpaid invoices. Those late payments put pressure on your cashflow and can cause a lot of worry. And yet, just a few simple steps could help you fix the problem.
How much should you pay yourself?
You started your own business to do something you love and make money. But how much should you pay yourself? Too little and you may struggle to survive. Too much and your business might be at risk. So how do you strike the right balance?Take the guesswork out of your salaryFor many, the chance to set your own salary sounds like a dream come true. But small business owners know the reality is a little more complicated.You should only pay yourself out of your profits – not your revenue. When you see money coming into your business, don’t assume you can pay yourself a big slice of that. Before you take your cut, you also need to take account of things like taxes, payroll, fixed costs and overheads. will really help you work out how much you can afford to pay yourself. It will let you keep track of all expenses and calculate profit rather than revenue or turnover. It will also help identify areas you can make tax deductions.Setting your own salary will depend on your location, your industry, your profits, and how much you want to earn. But there are a few things to think about that can help you land on a reasonable figure.To read original full article, please select here: www.xero.com
An introduction to cloud security
Business data is increasingly being stored online in the cloud. What does this mean for your business and your customers? What can you do to make your data safer? Here are some useful tips on cloud security
For small businesses there’s no greater pain than not getting paid
Small businesses are the heart of New Zealand’s economy. We often talk about and celebrate our large, publicly traded enterprises, but it’s small business that really drives the GDP and job creation in New Zealand.