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Pricing strategies to beat the competition

How you price can have a dramatic effect on your sales, cash flow, and profit margins. Your pricing strategy will determine how customers see your trade business in the marketplace – naturally comparing your prices with your competitors. What you...

Why do I have to pay tax when I made a cash loss?

How can there be a profit if the year’s ended with no cash? It’s quite common for businesses to end the year with little or no cash, only to be told by their accountant that they made a profit and...

Your export road map

For first-time exporters, finding success in overseas markets can be an avenue towards securing long-term, sustainable growth. But thorough preparation is vital to managing the business risks involved. Building a well-researched plan Deciding to export should be part of your...

Five ways to increase your profit

For many small businesses, the best way to improve profitability is to increase turnover, as there’s no limit to sales but there is a limit to how much you can reduce your costs. Let’s look at how you can focus...

Why should I move all my accounting to the cloud?

What’s ‘the cloud’? Think of it like this: instead of storing and accessing your data from your own computer’s hard drive, you’re accessing other computer hard drives over the Internet. So all the information you’ve stored with other companies (from...

What to do if your business is operating at a loss

Operating at a loss simply means you’re spending more money than you’re making. And while it’s not uncommon, especially for new businesses, it’s still not an ideal situation and one that shouldn’t be allowed to continue in the long term....

Preparing a business plan

Your business plan is a management tool and is designed to suit the structure and needs of your particular business. There is not a one-size-fits-all business plan, or a set formula that you have to follow. This leeway to design...

Ways to identify new markets and customers

If you want to grow your business, you’ll need a strategic plan – which should include how you’ll find new customers and get your products or services into new markets. Here’s what you need to know to identify new customers...

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