Finance lies at the heart of every business, be it a question of boosting profits, managing costs, ensuring that operations and processes are as efficient as possible, or securing the funds necessary for growth and expansion.
Keeping your business dynamic and forward-looking is not just a matter of chasing new customers. It involves every aspect of the business operation, from marketing to product development, from administration to training, from financial management to creative thinking.
Businesses, as much as individuals, can be victims of fraud. Every business, therefore, should take steps to safeguard itself against fraudulent activities, whatever their source and whatever their nature.
There are many factors that combine to produce a successful business and maximising the profits you could realise. This dedicated area explores some key strategies for unleashing unrealised profit potential.
The money that leaves a business, whether in the form of wages, suppliers? bills, general overheads or the interest on loans, can be as vital to its success (or survival) as the money that comes in from customers. Managing costs effectively should, therefore, play a central role in business financial planning.
Most businesses come into being because an entrepreneur has identified a niche in the marketplace. But your very presence in the market invites competition, and before long, you find yourself with competitors. How do you stay ahead of them?