Tips for tough times

As the economy slows down and uncertainty prevails in the future of the business environment, it is wise to take action and ensure the sustainability of the business. It is also opportune to use the slow-down period to make strategic, structural and system changes that will not only get you through the tough time but also stand you for better results when the cycle turns. The key tips to to survive these challenging periods are: 1. Review the strategy and focus on consolidation and viability, Continue reading →

Prepare for RECESSION

Every business that has been running for a few years, has experienced an economic recession, yet some do not survive it. Some business owners panic and either freeze and hope that recession will not affect their business, or, take drastic actions (without proper analysis) thereby affecting the sustainability of the business. Preparing for a recession is part of any well managed business so when the signs of declining economic activity are felt, it should have plans in place to ride the depressed climate and sustain Continue reading →

are “trusted” employees stealing from your business ?

in our many years of working with Small and Medium companies we have seen some shocking examples of so called “trusted” employees being dishonest and sometimes defrauding their employer. As a business grows, the founders inevitably rely on ” trusted” employees to perform critical tasks and lose the hands-on control of all that happens in their business. This provides an opportunity for some employees to take advantage of their position of trust and invariably defraud the company and compromise their jobs as well as the Continue reading →

How long do you need to fund your business??

After establishing your operating cycle, it is important to find out how long it takes for the cash to be recovered from the sale of your goods after you have paid for them. This is the cash cycle. The shorter the cycle the less cash you need to run the business. In simple terms, the cash cycle starts when you pay your supplier and ends when your customer pays you. The operating cycle starts with acquiring of inventory or raw material and ends with receipt Continue reading →