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How does depreciation affect small businesses?

Depreciation is basically a reduction in the value of an asset over time. What this means for your business is that if you buy a substantial asset like a computer or a car, you can claim a certain amount of...

Choosing how to value your business to prepare it for sale

Knowing the value of your business is vital should an unexpected buyer come along, and the timing is right for you to sell. You’ll want to get the best price you can so make sure you have an accurate idea...

Deciding to keep your business in the family or to sell up

Planning for the succession of a business is an important and sometimes overlooked part of a business plan. It’s an inevitable period in the lifetime of all successful businesses – so it’s best to weigh up the options early. Keeping...

How to succeed at succession planning

A succession plan is something every business owner needs to prepare for the inevitable – the day you’ll transfer assets and control of your business to a family member, business partner, employee, or outside buyer. Many business owners put off...

Ten steps to successfully franchise your business

Franchising can be an excellent way of growing your business rapidly and earning a good return. It can also be a pathway for ultimately exiting your business and leaving it in the capable hands of franchisees. Here, we’ll outline ten...

How to raise capital for your business

Before you go down the path of seeking capital from outside your business, identify any other ways of raising capital. For example, do you have any savings (either in the business or you personally) that you could use? If you...

Key management skills to grow your business

Most small business owners start out with a good business idea but little concept of what it takes to manage and grow a business. But you can learn and improve your management skills as your business grows. While there isn’t...

How to handle debt so you always get paid on time

If your customers owe you money, the faster you’re able to obtain it using effective collection tactics, the better. Ideally, you want to reduce the chance of bad debts and pressure on your business’s cash flow. It can be easy...