Blackburn Accounting - Tips & Strategies to Tackle Cashflow Challenges

Strategy 1:

Adopt these 'healthy' practices to get your cash flowing:

Profit margins: with the current ever-increasing costs of doing business, it’s critical to have true-cost pricing. Don’t let your profit margins be eaten away.

Whether it’s the price of eggs, utilities or wages, you need to consider how to manage the increased cost of doing Business.

Firstly, do you know what your profit margin is for your business?
Secondly, do you know your profit margins for the goods and services that you offer?
Thirdly, which project lines are not profitable and are affecting your business?

Tips:

Regularly check the cost of goods and products and determine realistic profit margins by setting prices not too low or too high.

Pricing points are needed to keep you competitive and ‘in the red’.

Be balanced, with inflation affecting your purchases you need to increase your sale prices accordingly.

Offer value for money and your customers will keep coming back!
Contact Blackburn Accounting to help you to work this out.

Watch for more in this series!

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Gregg Mountford

"Tim has been our accountant for over 10 years and throughout that whole time, he has been very professional, trustworthy, efficient and a pleasure to work with. He has the capacity to understand complex issues and his knowledge is always up to date, providing a quality service."

Gregg Mountford Managing Director – Negotiator WA Pty Ltd

"Tim has been our accountant for the last eight years. He has an exceptional understanding of the for ever changing tax landscape which benefits all of his clients. As Tim has moved through his career we have followed, I think that’s testament to his ability!"

Leon Sainken Managing Director – LSA Advertising

"We have known Tim Blackburn since June 2007. He has been our accountant with the Glenrange Global Pty Ltd and Glenrange Enterprises refrigeration electrical engineering business and our food export business Auspies Pty Ltd to Russia."
Peter Shewring
Managing Director – Glenrange Global Pty Ltd

"During this time Tim has shown a professional aptitude to all matters of taxation and general advice for and to business, including the exporting business where there has been a high degree of complexity regarding accountancy, business strategies and taxation requirements.
From the exporting company inception, Tim travelled to Russia to facilitate Aussie Pie Pty Ltd for the compliance to both countries taxation regulations requirements.
Tim has the ability to place the customer and/or the company first, a rare commodity in today’s world."
Peter Shewring