Do you already track your gross and net profit but are at a bit of a standstill on how to increase profitability? Think about the relationship between business profit and productivity. You can increase profitability if you produce more and pay less for what you need to produce and sell your goods or services. It’s […]
Profit improvement and productivity Read More »
Are you considering investing in a new way to make your business more productive or streamlined? With a tight labour market, everyone’s time is at a premium – so finding ways to maximise productivity has never been more important. But it can take considerable funds to pay for a new website, ecommerce platform, software system
Weighing up a big investment in your business Read More »
When you’re in business you tend to know the main forces that either compete with you or work with you. For example, your main competitors, your suppliers, your buyers. There are so many factors that can impact profitability of a business. According to the Porter’s Five Forces framework, there are 5 forces that can help
What are the forces driving your industry? Read More »
Do you know what’s happening with cash flow for your business right now? How about six months from now? Cash flow monitoring and forecasting are essential to keep your business heading in the right direction. There are so many priorities in the working day, it can be hard to stay focused on what’s happening with
Managing your business cashflow Read More »
It’s a given that you’ll want to maximise your business income. Sometimes, however, when factors outside your control are limiting your income, rethinking your costs might be where you can shift your outcomes in your favour. Whether the market’s in an upward or downward cycle, good systems for tracking and controlling costs will help your
Cost Control for Businesses Read More »
We have many years experience helping our clients looking to buy or sell a business. Talk to someone at Engine Room Accountants who you can trust to ensure you’re set up to take on a viable business.
Selling your business? Top 3 things to consider. Read More »
How to strengthen your business in times of increasing costs From the 1st April 2022 the minimum wage will increase to $21.20 an hour. Small business owners who employ staff on minimum wage will have to increase wages accordingly. Small business owners are already feeling the strain of recent global and local events and this
How to Strengthen your Business Read More »
With inflation on the way up, is it time to raise your prices? A few reasons why you should – and some reasons why not – so you can consider your next move. The rising cost of goods and services has been driven by local labour shortages as well as higher shipping costs and product
Is it time to raise your prices? Read More »
Very few people love the accounting aspects of their business. Here are a few ideas to keep your clients and suppliers happy while streamlining processes for yourself. Create realistic estimates. This will help you keep clients happy and expectations in check. Have a look at past projects, add up the costs, and compare to current
5 Accounting Tips to give you more time to focus on your business Read More »
Stuck in lockdown and feeling frustrated? It could be the perfect time to do some planning. Having a plan, or just a couple of goals, can help you make better business decisions and sort out your priorities.
The perfect time for planning Read More »
