You’ve most likely heard of the term niche market before. Often business owners are asked specifically what theirs is by business advisors, accountants, financiers and other owners. What we’ve found though, is that there is a reasonable amount of owners who still haven’t identified their
Originally Published 7th May 2020 Last Updated 30th August 2020 The government has announced what COVID-19 Alert Level 2 will look like for New Zealand. The decision to shift to Level 2 is yet to be made. Cabinet meets on Monday to decide if, and
Before you go down the path of seeking capital from outside your business or borrowing funds, identify any other ways of raising capital. If you need funds then sometimes it’s not a loan that you need. Identify areas in the business to make savings There’s
Dealing with a sudden cash flow crisis, even if you’re working hard to avoid shortfalls, is hugely distracting. A formerly reliable customer might take much longer to pay than anticipated or a large consignment might fail to show up, leaving you out of pocket. If
If you’ve been reviewing your business’s financial position and are looking for ways to improve your cash flow, one of the first things to look at are your expenses. As your business grows, so will your costs, but there are things you and your employees
As a small business owner, you’re probably keeping a close eye on every cent you spend. You need to have a good eye on your income and expenses to manage your cashflow, so that’s a good thing. However, it might mean that you are wasting
New Zealand will move down to Alert Level 3 from start of business on Tuesday 28th April 2020. The change in the alert level will mark a shift from ‘essential’ business operations to ‘safe’ business operations, with many strict restrictions still in place. For hospitality
Most small businesses experience cash flow problems from time to time and urgently need working capital. Many business owners immediately think of the bank or loans when they’re short of cash. But there are other resources you can tap before you ask for that expensive
Bootstrapping is figuring out how to reduce the cash you need to start or run your business, by eliminating any unnecessary overheads while finding out who will give you a hand. If for whatever reason you’re not able to raise enough capital to start-up you
If you’re a small business owner whose company hasn’t gone through hard times, that’s great but it’s likely to happen at some point. As much as we dream about being brilliant enough at business that we’ll never face slow times, there are many things beyond
