What is the most important focus area for any business? Most SMEs make the mistake of focusing only on the profitability of the business. But liquidity is the other pillar on which a company stands. Liquidity is achieved through efficient working capital management. The concept is similar to a person’s …
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Cash is King, Cash Flow is Emperor
Businesses, especially SMEs, have grown highly competitive in the past 10 years. Local competition is not new, but international and online competition have kept small businesses on their toes. And along with the general cost of living, cost of doing business has gone up as well. In such a scenario, …
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When Should Your Business Apply for a Loan?
Entrepreneurs who intend to build a new business and need a capital injection often acquire their funds through a loan from banks, financial institutions, or new alternative financing companies – such as Peer-to-Peer (P2P) lending platforms. However, business loans aren’t just for building new companies, but also to maintain them. …
Data for Effective Business Management
Data is one of the most discussed topics among business owners and entrepreneurs. While data is certainly a very current issue, it’s much more than a buzzword or an Internet trending topic. Every single business transaction generates data. As the world rapidly digitizes, it is crucial for businesses …
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How to Fix a Cash Flow Crisis
Cash flow crises are among the most common (and most frustrating) problems encountered by small businesses and SMEs. A well-managed cash flow is integral for a business to continue running. But what if a cash flow crisis is already happening? Don’t panic. Try to implement the steps below: 1. Create …
The Best Social Media Platforms for Your Business
In a short span of time, social media has changed the way we communicate. People can share their interests online and then plan to meet offline. Social media has also changed the way business do marketing. Businesses can now have a better, faster, more personalized connection with customers. Businesses can …
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The SME Guide on Managing Data
SMEs and small business owners have so many elements to keep track of. These days, in addition to managing cash flow and developing an organized accounting system, SMEs also have to wrestle with data. Because data management is a relatively contemporary concern, many people lack experience in dealing with data. …
4 Ways to Improve Leadership in a Small Business
The role of owner and leader in a company often conflate, especially in the small business sphere. And yet being an owner and being a leader is not the same. An owner is someone who had the initial idea and resources for a company and created the business. A leader …