There are many different types of budgets that can be used and are certainly beneficial for a small business. Therefore, there are many questions to be asked and answered. Should a static or fixed budget, a rolling budget, or a…
Strong internal controls are a must for any size or type of business as they help a business achieve overall objectives by doing the following: • Minimize errors• Safeguard assets• Promote operational efficiency leading to higher profits• Produce more reliable…
It’s the quality of a company’s products and services, marketing, sales, customer service, etc. combined with the talent of employees that drives the success of a business. Without qualified, motivated, and loyal employees, a business cannot move forward. Although it…
Although anyone with a small amount of capital and little or no experience can start a business, this does not mean that success will follow. Globally, small businesses and SMEs fail miserably. To counteract the staggering failure rates, a small…
Budgets…exciting? Not particularly, but extremely important for any small business. Budgets are additional tools needed for goal setting and performance analysis. Detailed objectives are necessary for any business to operate profitably and grow into a long-term successful venture. When management…
If you’re going to manage, then you need to manage the right way. Certainly, managing a small business or SME is a difficult task, but that is no excuse for not being a good manager. Managing must still be done…