Money leaks in your small business eat away at your profits without you even knowing about it. Even if your business seems to be in great financial health, you should regularly check for leaks to ensure that you’re not unwittingly wasting money.


There’s a lot to think about when starting a small business and learning basic accounting terms may not be a top priority. However, it is incredibly important to familiarise yourself with accounting basics in order to get a grip on your finances and build a thriving business.


Whilst cheap accountants may be attractive in the short term, they can end up costing you a lot more money overall. More expensive firms with qualified and chartered accounts actually provide much better value for money and can save you a significant sum on your tax return.


Online accounting software has a myriad of benefits for the financial health of your business. This software not only saves time, money and stress but it also allows businesses to operate with more flexibility.


Losses in business are fairly common. But some business owners tend to attribute them solely to inefficient sales and marketing.
However, that's not the only way a small company can lose money.
Here are some of the lesser-known reasons why your bottom line may not be as high as you'd hoped it would be.


If you're running a business, it's important to understand what gross profit margin is and how to calculate it. This figure tells you how much money your business is making after accounting for the costs of goods sold.


A good customer retention rate is essential to your small business. The more one-off customers you can convert into long-term patrons, the more profitable your business will be.


Digitising your small business comes with an array of lucrative benefits that can boost your bottom line and accelerate the growth of your company.


Profitability doesn’t only come from sales numbers. And a profitable business isn’t always the one with the most customers and the highest sales.