Every day, business owners work hard to increase their profit. But far too often, they lack a clear strategy and practical plan to make that happen. Your Profit & Loss Budget should be a direct reflection of your Strategy and Plan.

Inventory forecasting is critical for the smooth operation of any stock-based business. Managing demand can be tricky, however, if a large part of your inventory is subject to seasonal demand.

What is cashflow management? In its simplest form, cashflow management is doing everything possible to ensure that money flows into your business as quickly as possible, and leaves the business as slowly as possible.

Many businesses use trade discounts to simplify variable pricing, protect a market recognised price point, stimulate sales or reward customer loyalty.

There are many reasons why you may want to improve cash flow in your business. Maybe you’re looking to free up some cash to put towards growth, or maybe you’d like to build up your cash cushion to protect yourself from any bumps in the road.

Inventory management can be overwhelming. There can be an incredibly large amount of tangible inventory, which can translate to a huge amount of responsibility and pressure to manage this inventory properly.

With global recessions, increasing oil prices and increasing competition, saving money wherever possible and thereby maximising profits is the name of the game.

Choosing a pricing strategy is a difficult decision, but one that every business needs to make. Pricing strategy affects most aspects of a business, including its revenue, market share and profitability.