In fact, many small businesses fail because they aren’t able to cut costs in an efficient manner and instead spend money on things like marketing or hiring employees who aren’t as effective at doing their jobs as they could be.
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by Most business owners find tax filing complex. This is because the tax filing process has to be combined with running…
by Adopting the zero-based budget will help small business leaders, like you, decide on what expenses can be put off totally or pending the time they have things under control or they are able to make more revenue.
by You need to be prepared for the worst. Surviving a pandemic means having a plan in place if your business has to close down temporarily or permanently, and having cash on hand in case of an emergency. The pandemic will have a long-lasting effect. You need to plan and activate your survival mode for the long run.
by Not all risks are from harmful sources. Certain risks may come from positive sources or opportunities. While there might be an opportunity to grow your business, it might come with its own risks. There are risks attached to certain opportunities. You should strive to minimize the effects if you aim to manage risks in your small business.
by If you’re looking to start a lucrative business in Nigeria with small capital, there are several factors that you need to consider. First off, the country is wealthy and has a large population of literate people who can help you grow your company quickly. Also, there are plenty of opportunities for entrepreneurship in this country—you just need to know where to look!
by While it is important for you to set small business KPIs, there is no one-size-fits-all approach to it. It should be set in accordance with the business type, industry, and needs. There are a couple of things that help you determine what to look out for and how to set your KPIs.
by Now that you know about some of the most important business management tips, it’s time to get started. You can use them to help your small business grow and succeed, or you may find that they are not as useful as you had hoped.
by When you are an entrepreneur, you need to have a few essential business skills under your belt. If you do not have any technical skills or financial management knowledge, then how can you ever launch your own business?
by It is one thing to have a budget but another thing is to stick to the budget. Business budget management starts with having a clear picture of what a financial plan (budget) is, clearly mapping out a budget helps the business have a sense of direction as regards managing the budget.
by Strategic management accounting is a set of tools that help you understand your business and plan for growth. It can be used by anyone in any role, but it’s especially useful for those who are responsible for making strategic decisions about their company’s finances.
by Start-up and small business owners often feel overwhelmed by tax laws. However, it’s important to understand the basics of how your business is taxed so you can make sure everything is done correctly. We’ve compiled this tax guide for small businesses that will help you get started with understanding your small business taxes.
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