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How Accounting Software Can Increase Profits

Most small business owners who use accounting software quickly master the basics. They automate processes like invoicing and payroll, track expenses and view real time financial reports to manage cash flow and make better business decisions. But what many business owners don’t take advantage of are key insights that can improve customer care and increase sales.

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 have unused assets in the business  (machinery that’s not used very often, buildings or excess stock you could quit), then weigh up the advantages of selling these first.

10 Money-Saving Tips for Freelancers

While working at home as a freelancer sounds like the ultimate dream for anyone who tires of the rat race, freelancers still have more than their fair share of financial matters to worry about. In fact, perhaps the most important trait that any freelancer should have is the ability to be fully responsible and accountable to themselves, and saving money is something that you will be wholly responsible for.

Will your business idea work?

Coming up with a new idea is exciting, and you probably want to jump straight in and make it happen. But before you invest too much time and money, you need ensure your idea is feasible and likely to give you a reasonable return on investment. Obviously, there are never any guarantees that a business will succeed but thorough planning and market research is your best start.

Eight management priorities when you start your business

Starting a business can be a lonely process and thinking you can do it all yourself is the road to extra stress and pressure. Study successful business owners and you’ll find they have surrounded themselves with a strong group of advisers. A typical core team would include an accountant, a lawyer, your banker and a mentor, such as an experienced business person you admire.

How to start a business on a limited budget

So you have a great business idea and are convinced you can make it work, but you don’t have much capital to get your business off the ground. Juggling existing financial commitments such as a mortgage or bank loans could put a squeeze on your business plans. A growing number of entrepreneurs are using creative thinking and shrewd planning to get businesses off the ground with the smallest budgets.