Running a successful small business in Australia, or anywhere for that matter, takes more than just hard work. It's important to really know your money to understand where you stand and what the future looks like. Working with many small businesses over the years as their Virtual CFO, we have seen what makes small businesses successful. And it starts with understanding your money.
As a Chartered Accountant who provides bookkeeping services, forecasting, tax planning, cash flow management and cloud set up and support with programs like Xero and MYOB, here is what we know about small businesses and money.
Some small business owners harness their numbers to make decisions. And the payoffs are huge. When times get tough, they know exactly where to stand. When times are good, they know what they can do to use this to their advantage. They outsource the tasks they are not experts in to make more time for what they are great at that help their business. They do not spend hours going through their books to make sense of it. They engage experts and invest the added time on ways to work on the business. They always know exactly where they are and what to do next, with an expert accountant to check in with, get an update and take action.
On the other hand, some small business owners, despite the best intentions, look at the business bank account as a money health check. They watch the money go up and down and base their success on the fact that bills are being paid, people are being paid and hoping that there is some profit at the end of it all.
The mistake here is clear as you read this. And the important thing for local businesses to know in mornington peninsula, greater melbourne, across Australia and internationally is just this. As a small business owner, you do not have to operate blindly and you can take control.
It is about having the right partner with the knowledge and experience to help. To get you started, here are some ways our accounting expertise can help your small business.
Ways to Improve Money Coming In for small business success
Having enough money coming in is key for any business. At Tier Accounting, we help you improve your cash flow with tips like:
Making your invoicing and payment process faster
Collecting money owed to you more effectively
Cutting costs without hurting your business
Managing stock and setting the right prices
Predicting and Planning for What's Next
Chartered Accountants know the strategies to help you plan for your business's future. By looking at how your business is doing now and what's happening in the market, we help you make smart choices and set achievable goals. Our forecasting services include:
Planning your budget and cash flow
Predicting profits and losses
Planning big purchases
Testing different situations to see how your business would handle them
Why Do SMALL BUSINESSES Choose Tier Accounting
The numbers are important, but a great accountant for your small business needs to be much more than that. The two key differences we are told we have is our clear communication with you and our dedication to helping you understand what the numbers mean for your business. Our unique approach to planning and forecasting gives small business owners the confidence to make decisions that lead to short and long-term success.
Succeeding During Tough Times
The right help and tools can make a big difference when your business faces challenges. With Tier Accounting as your accountant, you'll have the expertise and support you need to handle the ups and downs. You don't need to feel overwhelmed by the money or the management. We have ways to make it clear, easy and organised.
Don't let managing your money hold your business back. Let Tier Accounting expert accountants help you understand your money and make your business the best it can be.
Ready to take the first step towards better business success?
Book a free 15-minute chat with one of our accountants today and find out how Tier Accounting can help your business grow.