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Topic: SME

Stumbling Blocks on your Way to Business Growth

Business is cutthroat, there are no two ways about it. Growth is essential for long-term survival in anything under the sun, business included. Let us delve into some reasons for the stunted business growth of small businesses. Technological Advancements Technology is the cornerstone of business in this day and age, and small businesses are often [ ... Read More

  April 7, 2018     

Managing Omnichannel Warehouses as an SME

Traditionally, retailers will rely on a single warehouse to hold stock for all of their stores, and perhaps one other warehouse to hold stock for their online store. However, the proliferation of online shopping has meant that large companies like Amazon are increasing the speed at which they deliver customer purchases to their door. With [… ... Read More

  April 4, 2018     

Encouraging Growth in a Business with Inventory Management

A fundamental concept to understand is that the challenges and strategies involved in starting a business are different to those required to keep it going and see it actually grow. There are several new hurdles that arise with seeing new growth in a company and must be overcome for survival. From inventory management to changing […] ... Read More

  March 22, 2018     

Make Your SME Work Environment More Effective

When you are a small-to- medium enterprise (SME) leveraging any strategy to set you apart from the competition is imperative. Often, SMEs are a fundamental part of innovation and economic growth. However, in order to be successful influencers in these areas, a SME needs to make sure they are operating as effectively as possible. There […] ... Read More

  March 15, 2018     

Cut Costs Without Cutting Corners

It is a well-known fact that start-up businesses usually tend to struggle with managing their finances, especially in the beginning. As an SME owner, it can be tempting to take shortcuts when cutting costs to free up your finances for other priorities. While it is often necessary to reduce expenditure as a start-up business, you […] ... Read More

  March 9, 2018     

Plummeting Costs and Rising Profits: The Picture for SMEs

Cost-cutting in business goes hand in hand with saving money and turning a higher profit. However, it does not need to be something backhanded or feared as the term might imply. In reality, cost-cutting in business does not need to be all that dissimilar to what would be done in a home. Let us explore […] ... Read More

  March 8, 2018     

Four Tips to Improve Your Business’ Balance Sheet

For many businesses, the income statement is the be all and end all. But if your business is geared for financial performance, it’s important that your business’ balance sheet is also healthy. Here are four helpful hints to tame your business’ balance sheet using inventory control. What is the balance sheet? Your business’ balance sheet [&h ... Read More

  March 6, 2018     

Upcoming Trends for Small Businesses in 2018

2018 is looking to be a crucial year for small businesses. Innovative technology for gaining and retaining customers is slated to become more accessible but at the same time, new risks are emerging. Here are four key trends to be aware of and how online inventory management can help. Novel Technology Following on from the […] ... Read More

  March 6, 2018     

Streamlining your Small Business for Greater Efficiency

One of the complexities of managing a small to medium sized business is having the ability to optimise your organisation, enabling it to run more efficiently. Unlike larger companies that have greater access to significant financial backing, small business owners need to be especially resourceful when implementing effective cost management, operati ... Read More

  March 5, 2018     

The Hidden Costs of Running Your SME

While a SME business plan can help you to track the cost of buildings, equipment, stock and staff, there are many hidden costs that your business plan may overlook. These hidden costs can be very difficult to detect, but accumulate over time and can cause serious damage to your finances. Below, we address a range […] ... Read More

  March 3, 2018     

SME and Omni-channel Warehouse Management

The face of retail has changed dramatically in today’s digitally connected world. Consumers are more well-informed than ever before and have increasingly higher expectations of their shopping experience. Not only do they want convenience and value, but they want the ability to purchase anything, from anyplace, at any time. Demanding fast and effi ... Read More

  February 23, 2018     

Reducing Your Debtor Days

Debtor days can substantially impact your business. Whether running a small, medium or large enterprise, it’s important to understand how debtor days affect your daily operations. The debtor collection period, or debtor days refers to the time it takes for cash to be collected from your company’s debtors. The longer it takes for your creditors ... Read More

  February 22, 2018     

3 New Year’s Resolutions for Small Businesses

As some countries ring in the new financial year, now is the time to reflect and make New Year’s resolutions for your SME for the financial year ahead. We have the top three resolutions that SME owners and executives need to consider that may really impact their SME’s bottom line and its growth. Improve Cashflow […] ... Read More

  February 21, 2018     

How Small Businesses Can Manage Their Omnichannel Profile

An omnichannel business is one that is everywhere and able to reach everybody. What does this mean though? It means the businesses has multiple store locations, be it a brick-and-mortar shop, an online store, an app or maybe a stand at trade shows or a market. The omnichannel strategy for a small business can be […] ... Read More

  February 14, 2018     

How Small Businesses Can Cut Costs

Small businesses often struggle to manage the costs of running a small business, often operating on a minuscule budget. However, there are in fact many small but effective changes that managers can make to cut operating costs dramatically. From managing utility bills to rethinking freebies offered in the lunch room, this articles summarises a few [ ... Read More

  February 13, 2018     

What are your SME New Year’s Resolutions?

It’s not just individuals who should take time to reflect and make New Year’s resolutions for the year ahead. Making New Year’s resolutions can be a great way to motivate SME managers and staff alike to make 2018 a memorable, successful year in business. The following article provides a few resolutions that SMEs should consider […] ... Read More

  February 9, 2018     

Strategically Cut Costs for Your Start-Up

Being an entrepreneur or starting your own small business can be a risky endeavour. The feelings of stability and security often felt when working for an established company, evaporate. Big budgets disappear and all of a sudden you are trying to start a business on a shoestring budget. However, in pursuit of dreams, it is […] ... Read More

  February 8, 2018     

Cutting the Fat: Streamlining Your SME

It seems 12 hour days, sleepless nights and no holidays are a rite of passage for a small business owner, however why should this despicable life be the status quo? It does not have to be, and with clever strategies to streamline the business, you can enjoy some beauty sleep again. Let us consider what […] ... Read More

  February 3, 2018     

Uncovering the Hidden Costs of Small Businesses

Setting out to start your own business is ambitious and exciting. With ideas and dreams fuelling motivation, it’s easy to get enthusiastic about your new found freedom. After all, there is so much potential a new endeavour can bring. In order for a small business to develop and prosper, it needs to have strong financial […] ... Read More

  January 29, 2018     

Alternative Lenders: What Do They Mean for SMEs?

Owning and operating a small business can pose several challenges, from staffing issues to inventory control. However, the leading challenge for most SMEs is the ability to attract finance and capital investment for their operations. SMEs often struggle to find and secure the right finance to help sustain and grow their business. This is where [&he ... Read More

  January 19, 2018     

Seven Tips for SMEs to Boost Efficiency

Whether your business is a small challenger in a big market or a major multinational firm, operating efficiently is critical for growth and long-term survival. Businesses of all sizes are investing in continuous improvement; however, unlike large businesses, SMEs cannot delegate this work to a specialised team or outsource it to consultants. As a s ... Read More

  January 10, 2018     

What’s Stopping SMEs in New Zealand?

SMEs are important part of the New Zealand economy. According to the latest data from Statistics New Zealand, they account for 97 per cent (487,602) of all enterprises, 29 per cent (599,880) of all employees and an estimated 26 per cent of New Zealand’s Gross Domestic Product. Let’s take a look at some of the […] ... Read More

  January 10, 2018