By Westcourt Blogger Taking out a chattel mortgage to finance the purchase of a business vehicle is an attractive option for small business owners from a tax-saving perspective. A chattel mortgage is a mortgage on a movable item of property i.e. motor vehicles. A finance company lends money to a business to purchase a car,… Continue reading Taking out a chattel mortgage
By Westcourt Blogger Individuals may want to consider creating an emergency fund to prepare for unexpected financial shortfalls such as accidents and disasters. While an emergency fund is a great asset to have, building one up can seem be quite intimidating for those who feel their current circumstances limit how much they can save for… Continue reading Creating your own emergency fund
By Westcourt Blogger Seasonal businesses can confront many cash flow problems if it is not accurately forecasted and monitored. The cyclical nature of seasonal businesses makes them prone to cash shortfalls as they rely on sales to peak at a certain time of the year. The basic operating expenses still remain in their off-season so… Continue reading Seasonal cash flow management
By Westcourt Blogger When you are self-employed or run a home-based business, it is vital that you have a business plan that outlines your goals and financial information. Unfortunately, statistics show that many home-based businesses often fail due to poor financial planning. Therefore, for small business owners should not only develop a financial plan, but… Continue reading Self-employed money management tips
By Westcourt Blogger Working out the right cash management strategy for a self-managed super fund (SMSF) is a critical component of its success. Retirees usually spend more in the first few years of retirement because they are doing all the things that they couldn’t while they were still working. Therefore, a smart way to determine… Continue reading Meeting cash flow needs in retirement
By Westcourt Blogger Maintaining healthy cash flow can be challenging; between ongoing expenses and bills, poor cash flow can severely impact your customers, staff and bottom line. Business owners need to understand the differences between short and long-term financing when developing a cash flow strategy. There are various sources of finance available and each source… Continue reading The difference between short-term and long-term financing
By Westcourt Blogger Business owners now have a variety of financing resources they can utilise to build their business. But what one is the best option? Sources of funding sources are usually divided into two categories; debt and equity. Debt financing involves borrowing money from an outside source and paying back the borrowed amount plus… Continue reading The difference between debt and equity financing
