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Topic: cost of business

The Structure of a Balance Sheet Explained

A balance sheet shows what assets your business controls and who owns them. A balance sheet is a snapshot of a business’s financial health at a single point in time and lets you know precisely what things of value a business controls, also known as assets. Assets represent items of value that a business owns […] ... Read More

  March 12, 2018     

Tips for a Strong Balance Sheet

Businesses with strong balance sheets are more likely to survive economic downturns and be ready to thrive when the going gets good again. The basic assumption is that a strong balance sheet entails simply having more assets than liabilities. However, business owners should be aware that a strong balance sheet goes beyond this; the best […] ... Read More

  March 8, 2018     

Can You Cut These Business Costs for your SME?

Simple ways to identify which business costs to cut can be done just by looking around. Is your company ordering fresh flowers from a florist regularly? This is a cost you can simply eliminate, for example by providing a beautiful pot plant. What is the situation at break times? Is your company offering fresh coffee […] ... Read More

  February 20, 2018     

How To Set Adequate Prices

Balancing Pricing with Ordering Costs Pricing strategy is an extremely important factor that contributes to a business’ overall revenue potential. Implementing prices that are considerably low may attract the customers interest, but it may also fail to offset behind-the-scenes expenses attracted by manufacturing costs, machinery costs and orderin ... Read More

  September 27, 2017     

Successfully Navigating a Product Recall with Inventory Management Software

While no business wants to find themselves in the middle of a product recall, it’s a reality that all businesses must plan for. Of course, prevention should always be the immediate goal, but if a recall is required, the worst case scenario is to be caught without a clear strategy in place. When it comes […] ... Read More

  September 30, 2016     

The Dangers of Understocking

If every inventory manager or business owner were to sit down and write a list of their biggest inventory nightmares, it’s a safe bet that ‘stock-outs’ would sit near the top of most lists. And with good reason, as having enough stock to satisfy demand is the central task of any inventory-centric business. ... Read More

  September 26, 2016