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How much money do you need when starting a business?

Many people underestimate start-up costs and start their business on the back foot financially. This can mean a long crawl up to your breakeven point and into profitability. Quite often it results in the business never making a profit at...

Getting the best price for your small business

Like beauty, value is in the eye of the beholder. Your business is worth what the highest bidder thinks it is worth – unless you can convince them otherwise. Consider what most buyers will be looking for. Stability The longer...

How to avoid three common profit mistakes

What exactly is profit in a business? This article shows you how to avoid three common profit mistakes that can seriously affect the success of your business. 1. Sales are NOT profit The biggest beginner mistake is assuming that sales...

How to write a customer questionnaire

Questionnaires provide an excellent way of getting feedback from your customers because everyone is familiar with them and is used to filling them in. You can use the feedback from a well-designed questionnaire to improve your business procedures and your...

Key drivers to boost profitability and cash flow

It’s important to identify and monitor the key drivers of your small business to boost profitability and cash flow. Boost profitability by recognizing your key drivers Identifying the key drivers of your business is critical to boosting profitability. A key...

Deciding to keep your business in the family or to sell up

Planning for the succession of a business is an important and sometimes overlooked part of a business plan. It’s an inevitable period in the lifetime of all successful businesses – so it’s best to weigh up the options early. Keeping...

Why it can pay to buy an existing business

If you’re looking impartially and unemotionally at the options ahead when starting your own business, you have to admit simply buying one already in operation is incredibly appealing. Not only do you get experienced staff and an existing customer base,...

How to pass your business onto a successor

Putting a succession plan in place helps ensure the future stability of your business when you step aside or if unforeseen events happen. Succession plans should be made well in advance if they are to be executed properly, and legal...

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