YOU OUGHTA KNOW BLOG

Over the past year, we surveyed over 4,500 small business owners worldwide to understand how they’re managing cash flow amidst high inflation and rising interest rates. The survey findings, compiled into a series of Money Matters reports, were released in Australia, Canada, New Zealand, Singapore, the United Kingdom, and the United States. Here are five key trends from these reports, highlighting the cash flow challenges faced by small businesses in these six countries.

Small business owners are acutely aware of the financial strain their customers are under, with rising household bills, transport costs, housing expenses, and debt repayments. This financial pressure leaves less cash for spending at local small businesses. This challenge is evident in the latest Xero Small Business Insights (XSBI) data, showing slowing sales growth across Australia, Canada, New Zealand, the UK, and the US.

Understanding how to compare financial results is crucial for making meaningful assessments of your business’s performance. This guide will help you analyze your financial data to gauge profitability, cash flow management, and financial structure.

Effective cash flow management is crucial for the growth and sustainability of your business. While profits are necessary, they cannot be utilized until they become cash. Many profitable businesses fail because they run out of cash and can’t meet their financial obligations.

While the profit and loss statement highlights your business’s financial performance over a specific period, the balance sheet offers a snapshot of your business’s financial position at a single point in time.

Are you still working in the accounts division of your business?

No matter the age or size of your small business, tapping into expert advice is crucial. Professionals like accountants, business mentors, and industry connections can help you.

A cash flow forecast is crucial for any business, whether you’re experiencing growth or navigating challenging times. This article outlines seven key reasons why every business needs a cash flow forecast, explains the importance of cash flow projections, and highlights the benefits of seeking expert advice in cash flow planning.

Business is inherently risky, whether you’re a solo consultant or running a small service business. Your commercial structure is your best defense against potential threats to your business and personal assets.

Business is tough right now! The economy has taken a hit, sales are down, and uncertainty looms over many businesses. Some of our clients are even questioning their survival. The common refrain is: “Hopefully, things will improve in the future.”

If you have rental income, regardless of whether you’re renting out land, a house, a caravan, a room, or a building, you can’t escape paying tax on your profits, but how much tax should you be paying?