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Law firm finance- the cash gap

Any business requires a steady flow of cash in order to continue functioning successfully. This applies equally to companies both large and small, cutting across all industries including law firms. While this basic principle may seem self-evident, it was one of the main reasons for the dot com crash in the 1990’s and remains a catalyst for why many small businesses get into trouble. 

Business rescue offers a chance of survival

The construction industry is unique in that developers, manufacturers, suppliers, contractors and sub-contractors are all in the same cash stream, and when a company at the top end of the chain becomes financially distressed it has a knock-on effect on the rest of the industry.

Cloud-native document automation saves costs and improves cash flow

Approximately 25-30% of accountants’ time is taken up searching for documents. However, the old adage that ‘time is money’ is more relevant today than ever before. One area where most companies can quickly lower operational and financial cost, risk and optimise efficiency is by switching to an integrated, cloud-native, document management platform which automates data storage, distribution and document management.

Should you take investment advice from family and friends?

Your friends and family may offer you financial advice with good intentions, but you should be wary of basing your investment decisions purely on stories shared 'around the braai'. People love to give advice, especially the people closest to us – our family and friends. And while we are often able to be circumspect, sifting out what is irrelevant to us, it can be difficult to resist taking financial advice from family and friends, especially when they appear to have done well for themselves.

BOOK REVIEW | The Highly Profitable Accountant

Take control of your practice, make more money and get your life back. The author, Rudi Jansen, has kindly made this book available as a FREE download on BusinessBrief website.

Grooming for funding and investment

Every successful business reaches a stage where it has to choose its growth path. Either you grow organically, using operational capital as and when it’s available or you use growth capital in order to scale up faster. If you are considering the fundraising route, there are a number of things you need to nail in order to be funding ready.

Municipal debtors management critical

Managing the debtor book is critical to ensuring stable cash flows for any municipality, and has great impact on its ability in delivering services to its constituents.

Are businesses geared for growth?

Every successful business owner will tell you that ‘cash flow is king’ and effective working capital management is essential for any successful business to survive, as it provides a business with the cash flow to fund its day-to-day operations. Working Capital can be funded by the business itself or by external funders.

FUEL LEVY INCREASE – DOOM & GLOOM?

"With several economists of the opinion that the price of petrol and the fuel levy will continue to rise this year, the knock-on impact...

2017 FINANCIAL RESOLUTIONS

Planning - Outline your plan for the yearUse a quiet week or two at the beginning of the year to set out your...
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