The process of outsourcing work, whether that be labor, expertise or consultancy, is a huge business. Year end statistics for 2017, aggregated by Statista showed that global outsourcing generated US$88.9bn. Clearly, there is money to be made in the industry. For both growing and established businesses, there stands to be a lot of money to be made - even from value demand. Effective and precise cost cutting is an ongoing project for every business, big or small. Outsourcing can tick boxes, but … [Read more...]

You’ve invested time and effort into your business and reaped the financial rewards. Now it’s time to consider the bigger people and investing in more. "I'm a better investor because I'm a businessman, and I'm a better businessman because I'm an investor," quoted multi-billionaire Warren Buffett. Chances are, if you have the head for running a small business you have the head for investing too. Here are some options to consider. Should I reinvest in the business? Your business is your baby and … [Read more...]

In this time of economic recovery, it is becoming increasingly easy to secure a small business loan. Term loans are often used to purchase fixed assets such as production equipment, which is needed to increase revenue but would otherwise be unaffordable. A term loan is for a specific amount and paid over a specified period of 1-5 years. Offered by both traditional and alternative banks, there are three things that lenders look for: credit rating, time spent in business and collateral. Let’s … [Read more...]

Starting a business is stressful enough, but when the dark cloud of personal debt looms overhead, stress levels can soar to a catastrophic high. Starting a business while in personal debt isn’t an ideal situation, but with some smart business and personal finance choices, it can definitely work. So, what can you do to stop personal debt from preventing your business from getting off the ground? Take A Look At Your Credit Score Finding out the cause behind a bad credit score can be the … [Read more...]

As 2017 already begins to draw to a close, it is time to start thinking about and preparing for the year ahead. If you are an entrepreneur, there are numerous matters that you need to start planning in order to have a successful year in 2018. One of the most important is your 2017 tax return. When you are a self-employed business owner, taxes can get complicated in a hurry. Rather than having your taxes withheld from every paycheck, you are responsible for knowing how much you need to pay each … [Read more...]