#businesstips

Understanding Your Profit and Loss Statement

Your profit and loss statement (P&L) helps you understand your business performance and profitability over time. It’s sometimes called an Income statement and its main purpose is to list income and expenditure. Whereas a balance sheet is a snapshot in time, the P&L shows transactions over a specific period of time. This can be a […]

Understanding margin compression and its impact on your revenue

With operational costs escalating and the market still sensitive to price rises, you’ll have seen the term ‘margin compression’ being thrown around in many small business forecasts. But what exactly is margin compression? And how does this financial phenomenon impact your sales revenues and overall profitability as a business? Here’s how to identify and tackle […]

Scenario Planning for Small Business: Plan for Uncertainty with Confidence

In today’s environment, things can change quickly — costs shift, demand fluctuates, and unexpected challenges can arise. That’s why scenario planning is such a valuable tool for business owners. Rather than reacting to change, scenario planning allows you to get ahead of it. What is scenario planning? Scenario planning is the process of using your […]

Why Every Small Business Should Have a Forecast or Budget

Running a business often feels like steering a boat through changing weather. Some months the wind is behind you, and other times the conditions are much tougher. One of the best tools you can have on board is a forecast or budget. I recently completed my own forecast for the year ahead, and I’ll be […]

Setting goals for you and your business for the new financial year

The start of the financial year is the perfect time to review your business goals for the new financial year and create a clear plan for where you want your business to go. Setting goals is an essential part of personal and professional growth. These could be lofty goals, or even setting out a plan […]

EOFY Is Almost Here: Your Practical Checklist for 31 March

It’s hard to believe, but the end of the financial year (31 March) is just around the corner. This is one of those key moments in the business calendar where a little preparation now can save stress, time, and money later. To ensure we achieve the best possible result for your business, here’s a practical […]