How to start a retail business

Retail Business is one of the fastest growing business in the economy. In all the countries around the world, retail business plays vital roles in making products available to the consumers. Economists affirmed that the production is not complete until the goods get to the final consumers. In most cases, there are intermediaries between the manufacturers and the consumers. The intermediaries can be a combination of wholesalers and retailers. At times, it can be that the retailers buy directly from the manufacturers to sell to the consumers. It is not a surprise if a manufacturer serves more than fifty retailers. Continue ReadingHow to start a retail business

How to Prepare Cash Flow Forecast for Small Business

Preparing cash flow forecast does not require a high level of skill in accounting. Cash flow forecast is a vital tool you can use to control the financial aspects of your small business. Companies don’t go bust because they lose money; they go bust because they run out of money. Most small businesses equate success with sales volume and profit. The reality is that a business can become insolvent in the middle of its best year in terms of sales and profits! Therefore there is a need to be very careful of cash flow where the business is growing rapidly.  Working Continue ReadingHow to Prepare Cash Flow Forecast for Small Business

Understanding Working Capital Cycle in Small Business

Every level of working capital cycle you keep has its own implications on your business. Working capital cycle is used to illustrate the length of days it takes a business to convert its inventories into cash. If you are into manufacturing, you buy raw materials from suppliers, work on them and make it ready for customers to buy. Customers will either buy in cash or on credit. Then you collect money back from your customers. You must understand the effect of selling on credit to customers.  Generally, your aim is to minimise the length of your working capital cycle so that Continue ReadingUnderstanding Working Capital Cycle in Small Business

Criteria For Securing Bank Loan

Before You Can Secure Bank Loan, You Must Meet The Following Criteria. Getting loan from the bank is not easy to get by especially for a new entrepreneur. Nevertheless, this is not to say that banks don’t give loan to young entrepreneurs. If you satisfy their conditions, they will definitely grant you loan for your business. Banks are willing to grant loan as long as they are sure of getting back their funds including the interest thereon because that is the only way they can remain in business too. Knowing what the banks are looking for before they can grant Continue ReadingCriteria For Securing Bank Loan

A Guide on How to Buy and Sell Online

A guide on how to buy and sell online. You must have read about how people buy and sell online to earn huge profits. In my previous article entitled “Making Money Buying and Selling Online”, I mentioned that a lot of people who can be erroneously considered as jobless, earn fantastic income even much more than some so called professionals. I threw some lights on what some of them do to make money on the internet. They simply buy products online and sell them at profits. Buying and selling online is very lucrative but you need to get it right. Continue ReadingA Guide on How to Buy and Sell Online