By Greg Logue
There comes a time when your business will get to capacity and 24hrs in the day is not enough! This is when some decisions must be made. These decisions usually revolve around:
- Staffing – do I need to hire someone?
- Financing operations – can I borrow money and how do I use it?
- Internal systems – what can we do more efficiently?
All three of the above have one thing in common – they come at a cost!
Most small to medium sized businesses will experience some cashflow pressure throughout their business lifecycle. During these times, how do you get ahead? How do you keep the ball rolling? Ultimately, financing the business will come from debt or equity, but is it a good idea to take on this financial risk and is your business:
- Able to access finance; and
- Capable of handling growth opportunities
All too often business owners look to get finance but are not in a position to do so. Whether restricted by limited trading history, poor financial performance or existing finance being at a maximum, you need to be aware of your eligibility and how you plan for expansion! If you’re unable to access finance, what are the steps you need to take to ready your business for finance. In other words, what is Plan B and how do we implement this strategy effectively?
I look forward to presenting on this topic and other key cashflow considerations for home staging businesses as part of the DFK Crosbie presentation at this year’s National Home Staging Symposium.
Greg Logue is a Senior Accountant at DFK Crosbie and an advisor to business owners across a range of unique industries. Focusing on business growth and peace of mind for his client’s, Greg has over 10 years’ experience in providing solutions to everyday business problems. Whether it be getting a business off the ground, taking it to the next level or working towards a long-term goal, Greg tailors his approach to suit your needs. Using reliable financial data, Greg and his team can provide strategic advice to drive your business in the right direction.
If you would like to see Greg live, secure you place at the National Home Staging Symposium for 2018!
