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The 9 Hats of an Entrepreneur – Spouse
When I wear my husband hat and then work in my business, I have a huge responsibility to my wife. Having the Spouse hat requires us to communicate openly to our other halves as if [...]
The importance of good bookkeeping
As we begin a new tax year and new financial year for some here is a look at what good bookkeeping is and why it is important. Some have made mistakes in the past which [...]
Financial Management – Gross profit, the big brother of Net Profit
Profit is a fond topic for most business owners, but do you know the difference between gross profit and net profit? Gross profit is the net result of your sales and your cost of sales, in [...]
The 9 Hats of an Entrepreneur – Family Member
Oh, to be single and have no responsibilities or time barriers. Just think about how much work we could get done without the nagging of family commitments. Sound familiar? Well, let me share with you [...]
Financial Management – When can salaries be a sales cost?
Last week we looked at income and the various types of income as part of our mini-series on the elements of your financial statements. Today we’re looking at a very misunderstood area – the cost of [...]
The 9 Hats of an Entrepreneur –Non Executive Director
First, let me explain what the difference is between an Executive Director and a Non-Executive Director is and what their hat looks like. Any board of an organisation is made up of paid staff and [...]
VAT efficiency, maximizing the 1% increase
We continue discussing the issue of the VAT and its implications for your business. Today we look at how you can make your business VAT efficient, especially with this VAT increase already in effect. If [...]