Tag Archives: business advice durham

Considering Buying or Selling a Business? 11 Key Considerations

During the pandemic, we’ve received an increased number of enquiries from people wanting to buy or sell businesses and this shows no sign of letting up in the near future. Therefore, we have produced a useful guide, which covers some of the key considerations for those buying or selling a […]

How to manage economic uncertainty

economic uncertainty

Managing economic uncertainty – 20 Practical Actions Businesses can take Having just emerged from the pandemic, the UK and global economy is facing a challenging future with rising inflation and interest rates globally. Global stock markets continue to perform well, but many would argue too well.   Closer to home […]

Why do I need a cashflow forecast?

cashflow

Small businesses tend to be structured in a way that the strategic direction of business is determined by the instincts of the owners. This is fantastic for keeping a business agile but may also lead it into financial difficulty without an independent financial cashflow forecast.   Most business owners I […]

Organisational review for my business

Organisational review

Do you need an organisational review for your business?   Are you overwhelmed by the number of different tasks you’re trying to manage in your business? Many businesses do not have absolute clarity around their team’s defined roles and responsibilities. This often results in owners wearing too many ‘hats’, meaning […]

Reasons to Spend Money on Training Your People

train people well enough

Why spend time and money training people if they’re just going to leave…. but what if they stay!? “Train people well enough so they can leave, treat them well enough so they don’t want to” – Sir Richard Branson Richard Branson is one of the world’s most influential businessmen & he […]

How to improve an underdeveloped team

underdeveloped team

If you have the responsibility of managing a team then you may be aware of some challenges that are hindering your teams’ performance. Underdeveloped teams need to be addressed promptly before low morale and skills gaps turn into ‘runaway poor performance’, which in its extreme can result in a total […]

What is the difference between profit and cash?

profit versus cash

When you are running a business it’s easy to confuse cashflow with profit. After all both could be considered to indicate that you’re making money, so what exactly is the difference between the two? Profit Profit looks at the total financial gain (or loss) that a business experiences over a […]

How do I know how much profit my business is making?

profit in a business

A common issue in business occurs when business owners don’t fully understand how profit their business is generating.   The Importance of understanding profitability: Financing – Understanding business profitability is important as profits influence financing decisions such as obtaining loans from banks. Dividends– Profitability is also important when extracting dividends […]

Time Management – how to remove barriers

Time Management

Time management in running a business can often feel like this: stop, start, stop, start, think, start, stop. You don’t have the time or resources to gain full momentum most of the time and when you do, there’s always something niggling away at you that needs to be sorted. This […]

Why do you need an organisational review?

Organisational review

As a business owner do you find you are wearing too many hats? If so you may need to run an organisational review on your business. In order for a business to run effectively and efficiently there needs to be a clear organisation chart, which visually defines departments, functions, roles […]