In Part 1 we looked at the scary, but meaningless, statistics around cashflow and business failure and answered the question how much cash is enough cash. In Part 2 we are going to take a more detailed look at the specific actions that result in cashflow shortfalls with businesses and what actions you can take to avoid becoming part of this atrocious statistic.

Financial literacy should be taught as part of growing up, as much as learning to drive a car is. It’s the knowledge that ensures a family is thriving within its financial means, or that keeps an individual financially savvy and secure. When it comes to managing a business, especially a micro-business, financial literacy is as essential as the product/service knowledge within your area of expertise.

2020 is a year like no other. We’ve witnessed change at a rate and on a scale never seen before, making it challenging for businesses to keep up. When it comes to making decisions in business, it’s important to use only up to date advice, as the regulatory environment and personal circumstances can change to such an extent that initial advice can be considered bad advice. I want to share with you a case study to show why it is vital to keep up to date:

Accounting Heart celebrates its third birthday this month. So, I have used the occasion to reflect on my expectations versus the reality of starting my own business, the highs, the lows, my fears, the people I’ve met, the constant evolution and the things I have learned along the way.

With spring finally here, you may be thinking of spring-cleaning your home. I certainly am – there’s something about the warmer weather that almost compels me to clean away winter’s dull energy. This got me thinking about the benefits of spring cleaning your business. And who better to draw inspiration from than the Queen of Tidying, Marie Kondo?

Up until the time I left home for university I played loads of sport and was rather skinny. From then until I was 25 I kept my slender figure, but was starting to feel the effects of spending too much time sitting at a desk in the form of neck and shoulder pain. From 25 to my early 30’s it was all down hill. I had put on a lot of weight, was in chronic pain and couldn’t even walk up a short steep hill without stopping for breath. Crunch time when my husband and I were watching Season 2 of The Biggest Loser. After watching this we made a conscious decision that we wanted to live a healthier life, so we booked ourselves in for a 7-day health retreat that changed our lives.