As accountants, we need to understand our clients’ business models. In very simple terms, a business model refers to “the way a business makes money”. Take a retailer, for example, who buys and displays products of interest to customers. By attracting people into their store, they sell those products and make a profit, provided the sales price exceeds the costs of supplying that product.
Topics: Business Improvement, Business Planning, business continuity planning
As a business owner, there is always something to do, however many owners often spend more time working in the business than they do on the business.
Read MoreTopics: Business Improvement, business continuity planning, managing business risk covid-19
Recent global events have tested the mettle of management and boards everywhere. Some businesses will emerge stronger and, sadly, some will cease to exist in their current form.
Read MoreTopics: Business Improvement, business continuity planning, managing business risk covid-19
As part of its Coronavirus Stimulus Package, the Federal Government has recently announced the introduction of a new JobKeeper Payment to assist eligible employers, (and self-employed individuals), who have been impacted by the Coronavirus pandemic to continue to pay their workers.
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As the COVID-19 situation continues to evolve, it’s important for small and medium businesses to have a plan to deal with the fallout from the virus.
Read MoreTopics: Business Planning, business continuity planning, managing business risk covid-19