Financial Strategies

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How to Manage Your Money During Periods of Uncertainty?

Without a doubt, the COVID-19 pandemic has plunged us into uncertain times; the economy taking a hit is proof enough. This pandemic is probably not the first “time of turmoil” you have encountered as an entrepreneur, and it certainly wouldn’t be the last. How can you prepare for such periods of uncertainty? Here are seven …

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Are Your Cash Balance Optimal?

Understanding and managing a company’s cash balance is an arduous task. The financial complexity that businesses entail drives owners to put it in the hands of expert accountants or accounting firms—which is an excellent option. However, owners being the significant decision-makers of a business, need to recognize the value of understanding cash flow and financial …

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I Have Paid For Things Personally For My Business – What Happens With Those?

Before starting your small venture, you may have heard countless times how important it is to separate your personal and business finances. It is one of the good practices to remember before carving out your brand name in the business industry. Whether you are managing a growing side hustle or a sole proprietor of a …

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How Much Should I Spend On Team?

Whether you have a growing enterprise or a barely starting small company, every business operation boils down to one thing: money. Budget planning and allocation are vital tasks in every business activity. No project, production, or strategy is complete without a reasonable budget backing it up. No matter the nature of your business, monetary resources …

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What is the Difference Between Revenue and Profit?

Revenue is the total income a business earns from sales of products and services. Profit, on the other hand, is the amount left from your revenue after you have deducted all expenses. Simply put, revenue is also known as your sales, while profit refers to your bottom line.   Both profit and revenue refer to …

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What Is Turnover?

From the outside, owning a business may seem like an exciting and easy way to generate an income. Equipped with the internet’s limitless capabilities, starting your own enterprise is as easy as creating an email account. You just need a platform, reliable product supplier, and marketing techniques to carve out your name in your chosen …

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Receipt Scanner App: Digitalize and Manage Your Receipts

Join the Profit First for UK Business! As a business owner, you will need to document every single business expense that your business conducts every day. This means that you will also be handling and keeping every receipt of your business’s purchase for tax and auditing purposes. But you will not be able to do …

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Xero vs FreeAgent

Accounting is vital in all businesses, big or small, whether it is freelance, contractual, or regular. But let’s face it, not everyone is an accountant, and not everyone can afford to hire one. That’s why bookkeeping software like Xero and FreeAgent are really useful for business owners who need to do their accounting on their …

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