Benchmark To Solve Your Business Challenges

What Has Your Accountant Done For You Lately?

Government Grants for Small Business - Are You Eligible?

Did you know your business may be eligible for $20,000? Let Unity Management maximise your grant application. The types of improvements eligible for funding may include, but are not limited to:

  • Business planning
  • Supply chain management
  • Business and quality management systems
  • Lean manufacturing/office
  • Resource management
  • Waste/resource management
  • People and change management
  • New product/service development
  • Diversification/economies of scope
  • Market access and development
  • Export strategy
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Cut The Cost Of Just About Anything

Expenses are a headache for everyone in business. Costs keep rising, whether it’s buying a ream of paper for the photocopier or a spot at the tradeshow. Some costs are fixed and just have to be accepted, but many business expenses can be reduced with a little effort and some common sense.

Whether you’re buying business equipment, purchasing stationery or arranging overnight accommodation, there are ways to go about it that can save you money. Some of our favourites are:

• Check the invoice for everything you purchase. Compare the invoice figure with your quote or the posted price and make sure you were charged the correct amount. Don’t forget to add the items on a multi-item invoice and check the supplier got the total right.
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The Power Of Numbers: Liquidity Ratios

Your balance sheet contains important data that enables you to interpret trends in the overall performance of your business and reveal emerging problems.

 The way to unlock this information is to use ratio analysis. A number of ratios have been developed that analyse different aspects of a business – liquidity, solvency, efficiency and profitability being the main ones. In this article we’ll look at the most common liquidity ratios, others we’ll discuss in later Grow Your Business issues.

Liquidity ratios relate to the ability of your business to quickly generate the cash needed to pay your bills. This makes these ratios of interest both to you (since the inability to meet your short term debts would be a problem that deserves your immediate attention), to your creditors and to lenders if you are seeking funding.

Current Ratio: this ratio gives an indication of whether your business has enough current assets to meet the payment schedule of its current debts with a margin of safety for possible losses in current assets, such as inventory shrinkage or collectable accounts.
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Danger Lurks In Your Inventory

Inventory has a way of growing like Topsy. The justification is usually that ‘if we don’t have it we can’t sell it’, so a connection is made that translates as ‘the bigger the inventory we have, the more sales we’ll make’. If only it were so.

Carrying an unnecessary amount of stock can be a dangerous thing. If it’s not properly managed it becomes the equivalent of money that’s depreciating at an increasing rate and can actually drop below zero value. Be aware of the danger and don’t let this situation develop.
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