Cloud computing is quickly moving from an obscure concept to an everyday reality for small businesses all over the world. A 2015 survey of small business owners found that 52% had already adopted some form of cloud-based data storage; however, a general lack of awareness regarding the logistics and advantages of cloud computing has made others a bit more resistant. The truth is, there are several very practical benefits to… Read more
As small business owners look to operations after COVID-19, there are some important business questions to ask. These questions will help you determine what adaptations you want to keep, whether your business model is working, and if there are additional changes you want to make to keep your company operational through future economic downturns. It’s not always fun to do this sort of examination, but the answers to these questions… Read more
If you’ve just started working with Xero, it is normal to make a few mistakes while you’re learning. We see mistakes that are quite common – and unfortunately costly – so you should be aware of them if you want to get the most out of Xero’s powerful cloud accounting system. 1. Not connecting all the bank and credit card accounts dedicated for your business Make sure that you keep… Read more
Most family business owners have a similar goal in mind – to grow the business and pass it on to the next generation of their family. While keeping the business in the family and getting to work with your parents, siblings, or children who share common goals can be a fun and rewarding experience, running and growing a family-owned business isn’t without its challenges. Conflicting views on business and family… Read more
More and more people are leaving their office jobs and setting up an online business these days, especially because of COVID-19. Running an online business offers a way for you to work from home and be your own boss. It may sound like an overwhelming process, but many entrepreneurs find it fulfilling. Here are some tips to increase the chances your small online business will be a success, and you’ll… Read more
Managing cash flow is a vital part of running a successful business. Some business owners think managing cash flow simply means keeping track of how much money enters and leaves their business, but there’s actually more that goes into it. Cash flow forecasting, for example, is an incredibly valuable tool that helps you anticipate cash flow issues, plan for days when your cash flow is limited, and show the bank… Read more
Since the first internal corporate note was sent—probably reminding employees about casual Friday—companies and organizations have relied on written communications to keep employees up-to-date on company policies, procedures and changes happening within. These days, though, more companies are switching to videos to relay information to their staff. In a lot of ways, video is more effective than written communications. It grabs peoples’ attention, conveys important information quickly and is usually… Read more
If you’re a small business owner whose company hasn’t gone through hard times, that’s great but it’s likely to happen at some point. As much as we dream about being brilliant enough at business that we’ll never face slow times, there are many things beyond our control that can negatively affect our business. Here are four tips for getting your business through difficult periods so you can look forward to… Read more