Business

Cash is king – 7 simple ways to improve your cash flow

Who is keeping score while you are in the game?

There comes a moment in everybody’s business when they discover that the profit they make in the business does not equal their cash flow. The value of a business is dependent on cash flow, not profits. A business whose fixed assets base is high and/or requires high working capital is likely to require more of the profits to be reinvested back in the business, thus reducing the cash available to service debt.

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How much does it cost a plumber to be in business?

Plumbers, work out how much your average call-out fee should be with these simple steps.

When plumbing businesses set their rates too low, sooner or later they’ll go out of business. In addition, other companies in the industry are forced to drop their rates to unsustainable levels. When plumbers are unable to settle their accounts, stakeholders, such as suppliers and manufacturers, are affected too.

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The nitty-gritty of turnover tax for builders

Builders, here are all your turnover tax questions, answered.

What is turnover tax for builders?

The purpose of turnover tax is to make it simpler for builders’ micro businesses to comply with their tax obligations. Turnover tax replaces Income Tax, VAT, Provisional Tax, Capital Gains Tax and Dividends Tax. However, a builder’s micro business registered for turnover tax can choose to remain in the VAT system.

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Uniform building industry

hgvw01-72dpi 120x120Here are some tips regarding workers wearing uniforms in the building and contractor world…

Professionalism

Uniforms help to unite your business and looks professional on site. It also helps for the client to differentiate between your employees and another contractors, should more than one company be on site at a time. There will be less confusion for the client should they need to state anything about a certain worker to the relevant company. It also makes your business look smart and organised which appeals to a lot of people as many people take the initial interaction as a reflection on how the work will be done.

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Concrete Impressions

In the contractor business, make all your interactions with a client solid and sound, and leave with your good impression stuck in their mind.

It may sound odd but meeting with a potential or current client as a building contractor is like your first job interview over and over again. Many contractors and builders forget this and their reputation is hampered due to unprofessionalism. Even if you don’t get the job – word of mouth is a big tool for a small building business and can make or break your business depending on the way you act and the work you do. Here is some advice to create more business by making your clients interactions with you as positive as possible:

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