Why Every Small Business Needs Online Strategy

Marketing is essential even for small local companies. In an increasingly competitive world you have to be able to replace departing customers with new ones. With more than 1.1 billion websites and growing every second, there is no better marketing channel than the internet.

Digital Resistance

Yet many business owners look upon it as providing little value. There are some common reasons that even long-established businesses give for this:

I don’t need it

If you have an established business with a strong customer base providing all the income you could ask for, congratulations. You’re one of the fortunate few. But are those customers always going to be there? Local demographics change over time. People tend to migrate to wherever job opportunities exist. And isn’t there a possibility that someone else might open up a strong rival operation in the next town, or across the street? How about online?

Smart Tips for Managing Small Business Cash Flow during Rapid Growth

You would think that an increase in orders and growing interest in your business would be good news all round as it means that your company is expanding, but without the right amount of cash flow to support that growth, it could spell trouble.

There are plenty of examples of business owners who have not been able to survive their growing pains because of a lack of cash to support their expansion, so you need to plan for what lies ahead.

Here is a look at some ways to keep on top of cash flow. There are some tips on keeping your business and personal expenses away from each other, an insight on what cash flow actually means, and details on how to produce a cash flow statement to help stay on top of your money.

Separating your expenses

If you are one of the millions of small business owners who finds their personal finances intertwined with your business expenses, it is time to get things sorted so that you are well placed to take your business to the next level.

It is far too easy to blur the lines between personal and business expenses, but you need to keep on top of both and know exactly where your finances stand at any point in time.