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Growing your business doesn’t happen overnight. In fact, there are many factors that come into play when formulating an effective business growth strategy. The success of your strategy is what will drive your business to not only be a dominant player in your market, but to continue growing. Business growth strategies will vary from business to business, however the main principles remain the same. Igor Ansoff, also known as the “father of strategic management,” defined these principles in 1957, all of which are still used as reference points for many businesses to this day. Market Penetration This business growth strategy...

As changing markets create a new lending environment there continues to be a trend of increased risk aversion by mainstream financial institutions (banks/lenders). In this article we explore how businesses can ensure they are ‘fit’ for finance in 2020 and beyond. Prepare your business’ financial statements It is essential for businesses to have up-to-date financial statements as it provides visibility on the overall performance of the business. Having accurate and timely financial statements can also assist in getting your business ‘fit’ for finance. When applying for finance, financial institutions (banks/lenders) require up-to-date financial statements. Getting these organised can take some...

When it comes to running a business of any size, managing its cash flow is crucial. So, why is cash flow so important for businesses and how can you ensure you successfully manage it? In this article we will explore: What is cash flow? Why is cash flow so important? How to analyse cash flow How to finance your cash flow What is cash flow? Put simply, cash flow is the money moving/flowing in and out of your business. Cash flows in from customers who purchase goods and services, money from investors, interest on savings or investments, and so on....

As 2019 comes to a close, now is a great time for businesses to reflect on achievements and challenges they faced over the past year and prepare for what’s ahead. To help you prepare for the new year we have put together a few tasks to add to your to-do-list: Review and create new goals This time of year, is a perfect time to review your short-term goals achieved throughout the year, as well as looking at the challenges or negatives you incurred along the way. It’s important to understand when these challenges took place and what you did to...