Cashflow - is it flowing in your organisation? Do you always get paid on time for the work you or your organisation does? How do you forecast budgets accurately? Do you have a disaster plan in place should catastrophe hit - whether man-made or by mother nature? In this Expert Talk section, discover hundreds of articles about Finance And Risk.
Recent Finance And Risk Articles
The fact is that no matter what business you are in you can be sure if it is highly profitable others will soon enter the market. Market saturation will inevitably occur and profits will be eroded to somewhere near bank interest rates. Consequently, if bank rates rise significantly the marginal players or those with excessive overheads will ultimately succumb.
There is an old saying ‘If you aim at nothing, you will hit the target with amazing accuracy!’ We would all like a ‘silver bullet’ in our business that creates that wonderful profit we seek. The reality is that there isn’t one! There are lots of things that take up a business leader's attention in the effort to create a profitable and sustainable business. There are however a small number of key things that can have a big impact on any business’s bottom line.
Most business owners look only at their profit and loss statement - which is a bit like driving a car using only the rear-view mirror. While a profit and loss statement shows what the business has done, only a balance sheet will show what the business is facing in the future. Learn the numbers you need to keep your eye on - and why.
Managing risk is as important a part of managing a small business as managing sales – but it can be
easy to put off because it looks like such a huge, boring, formal process! The key is to break it into
more manageable parts.
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