All posts tagged business

Hope for the Best, Plan for the Worst: Why a Business Succession Plan Is Essential

While everyone wants their businesses to be successful and operate for a long time, you may not necessarily want to remain at the helm. As some point, you may want to pass the business on to your children, or to someone else in the company. You may want to sell your share to your business partner. Or you may want to sell the business to another person or company, and retire on the proceeds. Ideally, you will choose the timing and method of your exit from the business. However, the way life unfolds sometimes, business owners do not always have…

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Business Owners, So You Think You’re Insured Properly: 5 Things to Check

Whoever said, “You can never have too much insurance” obviously never had to pay the premiums. Still, there’s no denying the fact you need it to protect your business and its assets. So you probably have building and contents, public liability and public indemnity insurance. But what else should you get cover for? What else can you get cover for? The answer to the first question really depends on the type of business you own. As for what you can get cover for, you may be surprised. Here are five types of insurance every business should consider: • Business Interruption…

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Business Owners: Why Cash is King, Profit is Theory

There’s a saying in business, “You can go broke making a profit.” And another, “Cash is king. Profit is theory.” As you know only too well, you don’t pay rent, meet payroll or pay your bills with profit. You pay them with cash. A business can make a lot of sales, have a book full of orders, have delighted customers and clients, have a great reputation, be growing, and yet still go broke. Why? Cash flow. The business might be profitable on paper, but have no money left in the bank. They cannot pay their bills and they become insolvent….

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Business Owners: 5 Types of Insurance You Might Be Overlooking

Whoever said, “You can never have too much insurance” obviously never had to pay the premiums. Still, there’s no denying the fact you need it to protect your business and its assets. So you probably have building and contents, public liability and public indemnity insurance. But what else should you get cover for? What else can you get cover for? The answer to the first question really depends on the type of business you own. As for what you can get cover for, you may be surprised. Here are five types of insurance every business should consider: • Business Interruption…

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3 Reasons Personal Budgeting Is Brilliant, Not Boring

If a business owner said to you that they run their business without a budget, what would you think? You’d think they were incompetent. Or perhaps lazy? Or both? But what do most families do? When you think about it, a family is actually a mini business. There is income, there are expenses and there is, hopefully, something left over to invest and to enjoy. So why don’t most families operate to a budget? After all, a personal budget helps you to see your financial direction and helps you stay (or get back!) on track. It’s a great comfort. One…

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