Business Mindset

a blog featured image with a topic title about It’s Time to Get a Business Credit Card, If You Answer Yes to Any of These Questions

It’s Time to Get a Business Credit Card, If You Answer Yes to Any of These Questions

How did you pay for the last thing you bought? Chances are, you whipped out a card from your wallet and walked off with the item you purchased without touching actual cash. It is easy and convenient. Small business cards are the same – they give access to a line of credit for purchases. Business …

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a blog featured image with a topic title about What is a Good Profit Margin?

What is a Good Profit Margin?

The profit margin is a financial tool that helps you assess how your business’s bottom line is doing. Generally speaking, a higher profit margin means that your business is doing well. However, what a “good” profit margin depends on a variety of factors. Calculating your profit margin is just the first step. Once you have the number, …

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a blog featured image with a topic title When To Consider A Business Loan?

When To Consider A Business Loan?

To grow your business, acquiring liabilities is inevitable – especially current liability which may include business loan and trade credits. While unavoidable, you must know how to manage your assets and liabilities effectively. To be able to juggle both well and still profit on the side is what it means to be a successful trader. …

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Should I Get a Car Under My Name or the Company?

If in the course of your work you decide that you need a car, you need to figure out if you will get the vehicle in your name or as a director of a company. This is not a decision made on the fly because each choice has tax implications. Whether you are leasing or …

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What Is Factoring?

Every business, even profitable ones, encounter different hurdles before attaining the sweet peak of success. Some stores may run into customer relations problems. Some may experience intense business competition. But most ventures, one way or another, will come up against financial and funding struggles along their business journey and there is also factoring. Whether it …

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What Is A Trade Creditor?

It’s safe to assume that every business is a trade debtor and trade creditor at some point. In our previous article, we’ve discussed what a trade debtor is. To recap, it refers to businesses that are on the purchasing end of the deal. Trade debt is incurred when a company acquires products or services from …

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Why It’s a Great Time to Start a Business Now?

For us humans, we are well known to be innovators and creators of the natural world. With our mental capacity (and opposable thumbs), we have conquered the world and became the dominant species. As the years went on, we needed to develop our societies as well. Our ancestors did not just rely on living the …

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a blog featured image with a topic title about What Is A Trade Debtor?

What Is A Trade Debtor?

“The bigger the business, the larger the debt.”   Do you agree with this? New businesses are established for many reasons, but the end goal is always the same: To generate income.   However, no matter how successful or influential your company may be, there’s one other thing you can never escape. It is what …

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a blog featured image with a topic title about Should I Lease A Car Through My Business?

Should I Lease A Car Through My Business?

Billion-dollar companies have the purchasing power to buy whatever is needed to make business efficient, including a fleet of cars. However, small to medium-sized enterprises need to focus and consider their cash flow before committing to something as expensive as an automobile. Since cash flow is necessary for survival, discretionary expenses should be kept at …

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Why Most Accountants Are Not Equipped To Give Profit Or Business Growth Advice

There are book accountants and there are Chartered Accountants who are Profit First Certified. The latter is me, Annette Ferguson – Chartered Accountant and Profit First Certified Professional.   There is a big misconception surrounding an accountant’s work. Yes, traditional accountants are meant to help you stay on top of your balances. They help you …

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