Whilst there can be no argument that long-term, sustained profit has to be the goal of any commercial organisation, there is a growing realisation that if profit is the end, then we should spend more time examining the means whereby it is achieved. So many management boards begin their weekly meetings with a review of the financial position — in other words, before anything else is discussed revenues will be examined and costs detailed at some length. Ratios, production efficiencies — these are the currency by which the business is measured and therefore controlled. ..more
Money, Money, Money – (Savings, Loan, Credit, Shares) what you need and how to raise it
Posted by: arlene on Sunday, 20th Jul, 2008
It is a sad fact of life that most small businesses require capital to start up. There are a few businesses which require only the minimum of equipment and stationery (journalism, PR and teaching, for instance), but most will require some form of outlay either for equipment, for stock or both. Then there are other considerations. You may need a budget for advertising, for accountancy and legal fees, or even for adapting your living room.
Before you even try to raise money, it is well worth thinking about the minimum amount needed. If the business is in the fledgling stage, try to keep only to the bare essentials — there will be time for a mahogany desk and state-of-the-art printer at a later, more successful stage. ..more
