Start-Up Resources: Finance for Small Businesses
A daunting part of running a small business can often be getting your head around finances, this can be anything from setting a budget to learning how to price your services. Here we aim to provide some useful resources to make it easier to manage your finances.
TIPs to get you started
Make sure you pay yourself, it can be easy to keep investing your profits to help your business grow, however having your own personal finances in order is also important. Keep re-evaluating to make sure you’re paying yourself properly.
Budget, Budget, Budget, setting a budget is critical to managing your business. A budget will act as a guideline which allows you to make certain businesses decision, as well as plan the year ahead.
Invest for growth, looking at your businesses strengths and opportunity, investing in these area’s can be the key to facilitating future growth in your business.
Helpful general resources:
How to prices your services or products
A major part of a successful business is pricing your services and products correctly. It’s a skill to determine the correct pricing for your service or product. You need to consider what it costs you as a business, what your competitors are charging and most importantly don’t sell yourself short by underpricing.
Helpful resources for pricing:
Cash flow software
Invoice Template
Using cash flow software can be a useful way to manage your finances. Here are some useful software to checkout:
Concur - a good all-rounder for expenses
Cushion - good for freelancers
Float - good for for-casting
Try our invoice template to help get you started, and personalise for your business. Has your business struggled with COVID then check out what the government has to support small businesses.