Oddly, many construction firms admit that they find it harder to manage their cash flow than to find clients.
Does your job costing often feel like guesswork, or just a bit of a hit or miss altogether? If your costs are amiss, chances are your prices and margins are way off as well.
Who doesn’t love a good deal? After all, discounts are the best! Except when it’s your business – and you’re having to offer discounts just to keep your customers happy.
As a contractor, do you have an idea of what you should be looking for in an accountant or bookkeeper? Probably not, but while you’re not to blame, now’s the time to know, so you can finally have someone help you with your contracting journey – an essential step!
Do you need equipment for your trade business, but are not sure whether you should lease or buy it? If you have limited capital or need to upgrade your equipment every few years, leasing might be the better option.
One of the most challenging things in running a business is dealing with payroll. Payroll eats up a huge part of business expenses (and often managers time), and should be managed carefully as it can make, or break a business.
Business owners are often clueless as to the best way to pay themselves from their company, but as with all things in life, the answer is not cut and dry – classic!
Ask any small business owner and most will tell you that managing their cash flow and getting paid on time is their biggest headache.
Are you ready for IRD if they come knocking on your door? Inland Revenue is currently cracking down on specific industries in search of overclaimed expenditure and undeclared revenue.
With the latest COVID alert levels many may be feeling the pinch when it comes to cashflow. Depending on your upcoming provisional tax payment, you may want to look at tax pooling.