For many small businesses, the focus is on growing sales. When a business is growing, it’s possible for expenses to grow too quickly and get out of hand. When this happens, it can lead to cash flow problems and even threaten the existence of a business. To help you cut back on expenses and improve your cash flow, here are some simple ways to cut small business costs.
If you’re applying for a business loan, one of the first requests from traditional lenders will be to see your business plan. A business plan provides the information that traditional lenders need to make an informed decision about whether to approve a business loan and determine the amount. If you haven’t written a business plan before, it might seem like an immense challenge. A good place to start is with an outline covering all the information needed in the business plan. Here’s a brief overview of what to include in a business plan when seeking a small business loan.
An exciting opportunity to be stocked by one of Australia’s largest online retailers seemed too good to be true. But before too long, excitement turned to despair when the retailer went into liquidation and vaporised Funch’s cash flow and growth momentum.
Tanya Duncan and Lisa Bourne met at the gym and became good friends when their kids started school together. A fruitless search for healthy, sugar-free snacks for their kids’ lunches led the pair to co-found Funch in 2014.
Melanie Townsend grew up on a farm in Zimbabwe where fun meant cooking or baking. Learning how to make a little go a long way instilled an irrepressible creativity in her cooking, a lifelong passion for food, and led her to start two culinary schools on two different continents.
Mel's had her fair share of Catastrophic Muck-Ups. Most recently a kitchen fit out was delayed three weeks, which could've devastated her cash flow, but she saw it coming and planned ahead. And the secret to her intuition? Diligence, attention, and forecasting.
Why is data one of the scariest four-letter words of the 21st century? Because hips may lie, but data doesn’t – it simply reports facts. Business data can be a powerful tool for growth. If you’re unsure what data you have or how to use it, this guide will get you started.
An ACCC product recall would be one of the worst imaginable catastrophic muck-ups for most brands. And it was for My Little Giggles when their Play Gym Rings were recalled and their competitors took to social media to sink the boot in while they were reeling from the ramifications of this catastrophic muck-up.
Tammy Greig knows her way around power tools. In 2015, she met up with Carla Peck and what started out as a playdate for their young daughters turned into the beginning of My Little Giggles. Carla noticed the ‘Learning Tower’ Tammy had made in her garage and saw the potential to build a brand around the problem-solving product.
A decision to open a pop-up store quickly became one of the worst and most expensive mistakes in Francesca's history, but Hannah was able to turn it into a resounding positive for the business.
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