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Accounting software – you’re mad not to use it in your business

Twice this month we did some work with businesses that are beginning to use accounting software for the first time. Both had developed a series of spreadsheets for their accounting which they had long-since outgrown.

That is not all they have in common – astonishingly they are both £1 million turnover organisations!

Good for both of them that they have started to use accounting software but why leave it so late?

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Profit is your first cost

If you are writing a budget or a business plan and you want to achieve a profit target – make profit your first cost!

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Cashflow – five ways to manage cashflow and make more money

Cashflow is the lifeblood of all businesses. We continue to live and to trade in uncertain times, which makes cashflow management even more important.

We also face a very difficult banking climate which puts a huge premium on self-reliance, being the master of your own cashflow destiny and not having to look to your bank for funding.

So here are five ways to manage cashflow and make more money.

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Mid-year reforecast – now is the time to do it

Recent developments in the UK economy and from the EU suggest that 2012 will be a year of great uncertainty and low growth, but there will still be lots of opportunities – the UK economy is a big place.

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Find the real value of your business – think about selling it

The trick is to stand back from your business and ask where the value lies that others can see but which you might not see simply because you are too close.

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Part Time Finance Director – if this is the solution, what’s the problem?

The interim or part-time Finance Director option works well because it is quick to implement and it recognises that once the problems are solved you can go back to a lower-cost level of resource which will consistently get the right job done in the future.

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