Why should you use business reporting? For most business owners, particularly those working in hospitality or retail, the day-to-day workload can be quite high. This means that managers are sometimes too caught up in the minutiae to be able to take a step back and look at the bigger picture. Sometimes if you’re part of […]
Maintaining the health, growth and success of any retail or hospitality business means ensuring regular financial administration and management tasks are scheduled in your monthly calendar and actioned. All businesses need effective control and financial management in order to succeed in the modern competitive environment, and this means planning, controlling and organising all resources on […]
The number of UK businesses that collapsed into bankruptcy hit a four year high earlier this year, and some of the worst affected companies are often in the retail and hospitality sectors. The hospitality and retail sector lies in third place in UK liquidator listings, just behind administration and support, and construction business. Good financial […]
For business owners in the food industry, having the opportunity to expand and spread your wings can be an exciting, busy and sometimes stressful time – with so much to consider when it comes to running multiple locations and keeping all those plates spinning. Xero Tracking Categories gives you the ability to report by location to compare & analyse performance.
When setting up an online retail business, it’s important to make sure that your website, back-end and processes all run smoothly. It’s vital to make sure that everything is as efficient as possible, to maximise profit and make your business a success.
Building a paperless office can be a challenge for any retail or hospitality business. There are a variety of paper saving measures that can be put in place, though, to create an office that’s light on paperwork without being detrimental to essential control mechanisms.
Growing retail and hospitality businesses requires funding, which can often be extremely difficult to source from traditional lenders, like banks and venture capital providers.
Angel investment is a lot different, as angel funding is acquired direct from an angel investor who will invest their own funds.
Measuring KPIs in retail can help increase the profitability of the business. Some important KPIs that can ensure greater success within retail include:
– Monitoring footfall is simply a count of the number of people…
When you raise money with crowdfunding, what exactly are you getting? What are you selling? And, frankly, is it worth the effort?