Month: August 2021

Comparing Cash Flow Forecasting and Budgeting

Cash flow forecasting helps identify trends in incoming and outgoing cash so that companies can prepare for future expenditures, avoid excessive debt, and meet payroll obligations. This process often involves using budgeting to determine how much money will be required over a given period of time. This type of forecast also takes into account other factors such as the cost to produce goods or services, expenses related to ongoing operations, interest payments on loans, capital repayments, tax instalments and other assets required to help grow a business.

How to choose the right bookkeeping software

How to choose the right bookkeeping software

You might think that choosing bookkeeping software is a no brainer, but that’s not always the case. No single product will fit every business’ requirements, so how do you choose the right one? The truth is, it’s not a one size fits all solution and it doesn’t have to be based on which package is the cheapest—but rather which one will suit your business’s specific needs.

What to consider before taking up a franchise business

What to consider before taking up a franchise business

Franchises are a fast-growing business model and there are hundreds of them all over the world. In fact, 83% of US-based restaurants and cafés are franchises. However, there are only a few benefits to choosing a franchise. Maybe you’ve decided to go the franchise route because you want to start a business by earning a steady income without having to take big financial risks. Maybe you’ve decided to become a franchisee because you want an opportunity to work for someone else but want to have the autonomy to run your business as you see fit. Whatever the reason, know that several other considerations must be taken into account before you choose to franchise.

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