Finance

How to measure the true performance of your business

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Costs and profit

People often mistake high revenue and lots of money coming into a business for success. It’s easy to see the cash in the till or the bank and have a moment of glee. However, unless you have enough profit, (the money left after you have paid for everything in your business) your business needs some serious attention.

Gross margin Pricing Stock Taking

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Controlling your labour

Carefully managing the people element of your business will save you time and money. If you can manage your labour costs, the business will feel the difference.

Labour cost percentage Managing payroll

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Accounting and record keeping

Keeping accounts in your business is one of the most common areas of business neglect. While records can be simple to maintain, ignoring them for too long can cause giant headache. The advice in this section can help you stay on top of them.

Year end Record keeping Exemptions & discounts VAT in your business

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Fund your growth

Businesses often get to a point where they need capital to expand or buy equipment. The question of where to find the money is another story. You need not only to find the funding, but also know what to do to meet the requirements.

Types and sources of funding

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Managing your cash

Cash flow is the money coming in and out of your business. It is not the same as profit, so lots of cash does not necessarily mean your business is doing well.

Cash flow

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