For a Creative Agency cash is not profit and vice versa

For a Creative Agency cash is not profit and vice versa

The purpose of an agency is to make money, and that means you have to know the difference between profit and cashflow. Net profit is what you have left after you deduct all your business expenses from all your revenue. You change net profit only by changing the things...

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What Tech Startups should do when employing staff

What Tech Startups should do when employing staff

As your new startup grows, you’ll inevitably need to take on more employees. Having more hands at the pump helps you scale up, delegate tasks and broaden the scope of your operations. But what are the important things to get right when employing staff for the first...

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Business tips: Improving your credit score

Business tips: Improving your credit score

Your company’s credit score is important. To be able to borrow from lenders, or negotiate trade credit with your suppliers, your business needs to prove that it’s a low-risk business to lend to. The major credit agencies will give your business a score, based on its...

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How Tech Companies figure out their break-even point?

How Tech Companies figure out their break-even point?

All Tech Companies need to be aware of their break-even point — that is, the number of units they need to sell in order to cover their operating costs.   Once you’ve reached your break-even point, it’s time to celebrate: your business is no longer in the red, and...

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Three ways Tech Startups use to speed up invoicing

Three ways Tech Startups use to speed up invoicing

Everyone likes making money, especially Tech Startups. Invoicing, however, is typically one of the tasks that startup owners like the least. Chores like creating and sending invoices get set aside for other duties that are seen as more enjoyable or even more urgent....

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Long-service awards and how to reward your staff

Long-service awards and how to reward your staff

Rewarding your valued employees is a great way to keep them happy, engaged and motivated. When a member of staff clocks up an employment milestone, you want to show your appreciation for all their hard work. Giving them extra benefits or rewards helps them feel valued...

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6 Essential Accounting Terms for Tech Businesses

6 Essential Accounting Terms for Tech Businesses

Hiring an accountant is widely considered the best practice for Tech business owners. But delegating financial analysis and reporting doesn't mean completely checking out of the process each month or quarter. On the contrary, it's recommended that business owners work...

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Business tips: Budgeting and managing cashflow

Business tips: Budgeting and managing cashflow

If you want to stabilise your finances and grow the business, working to strict budgets becomes a necessity. Managing the cashflow twists and turns of a project can be hard work. But it’s easier to do when you have an agreed budget and can track your spending and...

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