Small business planning is an essential task for a successful small business but is also one of the tasks that is likely to be overlooked, rushed or not done at all. A well-thought-out business plan can help you to create order out of chaos. No matter who you go to for advice, they will recommend that you put a lot … Read more
SWOT Analysis is a tool to analyse your business operations to seek growth opportunities and is an important step in evaluating your business model. So what exactly is it? SWOT stands for strengths, weaknesses, opportunities and threats. Strengths and weaknesses are internal factors and opportunities and threats are external or environmental. The object of the analysis is first to identify … Read more
Calculating your break-even volume is sometimes quite difficult. The formula for calculating the break-even point is as follows: Sales – ([Variable Cost per Unit x Sales Volume] – Fixed Costs) = 0 You are probably able to calculate the fixed and variable costs. But if you are starting, it may be difficult to work out the sales and sales volume … Read more
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