How a Virtual CFO can help you manage your business finances

There are numerous reasons why business fail and these can include lack of planning, poor financial management and leadership, lack of profits or marketing strategy, just to name a few. In order to survive, a trade business owner needs to ensure that all the business functions are getting full attention. However, playing the jack of all trades within the business can lead to important business functions being unattended to.

In growing your business, Profit, tax planning, strategy, changing accountants, profit margin, consulting

5 strategies that can make your trade business more profitable

Making your trade business profitable

You might have just started your trade business or have been in business for a while now, but one of the things that any business owner looks for is profit. Profit is why most people start their own businesses because it comes with early retirement or peace of mind knowing your income is secure.

In growing your business, Profit and Loss, success, business advice, strategy, profit margin, consulting

How to go from Break-even to Profit

Break-even: Part 2

In the first part of the Break-even series, we discussed what the break-even point is, how to calculate it and the 3 important elements you need to employ to achieve that position. As a quick recap, new businesses might not generate expected income in the short term but can make enough revenue which puts them in a position of not making a loss but not making a profit either. At this point the business can still survive, however, the most preferable outcome is that of making a profit as soon as possible.

In business growth strategies, Expenses, growing your business, small business, tips, business advice, profit margin, consulting