Do Business Well

Even if you managed to obtain adequate finances for your business, one of the biggest traps is cash flow. Cash flow basically means the movement of money into your business (from the sale of your goods or services) and the movement of money out of it (to suppliers, the bank, other creditors and employees). The relationship of these two flows is very important. Many businesses go under because although they are owed a lot of money they do not have enough in hand to pay the bank/their own debts. There is nothing more frustrating than knowing you are owed 0,000 but not having enough cash in hand to pay for the weekly shop. Continue Reading »

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Every bank and lending institution will require a business plan before they commit themselves to lending you money. A business plan basically shows that you have established that there is a market for your product/service and that having established sufficient demand, you have a good estimate of what your costs will be, as well as your sales volume, cash-flow and likely profit (although the last is often optimistic). Continue Reading »

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