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
In the midst of a global pandemic, now more than ever, it is important as a business owner to have a good handle on your business’s cash needs. While some parts of the economy are starting to open back up, many businesses are only just starting to feel the full impact of dropping sales figures over the last couple of months.
Read MoreTopics: Business Improvement, Business Planning, Cash Flow
Business survival has been a popular topic in recent weeks but businesses are shifting their focus to resilience. What does it take to build businesses that can survive AND thrive in the longer term… while insulating them from a recurrence of recent events? It’s not about picking up where we left off because what worked in the past may not work in the future. Let’s take a look at the attributes of resilient (or sustainable) businesses.
Read MoreTopics: Business Planning, COVID-19
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, COVID-19
Happy New Year! - Now is the time to reflect back on the 2019 (what worked, and what didn’t?), and plan how you can make 2020 really successful.
Read MoreTopics: Business Planning
