Businesses put a lot of effort into growing their business. As they plan and execute their strategies, they presume that all will go well and hardly think about risk, what can go wrong and negatively affect their plan. As “anything that can go wrong, will go wrong”, the chances that risk will hinder achieving your […]
Tag Archives: business
05
Apr
Apr
Petty cash, also known as petty cash fund, is a small amount of cash on hand that is used for paying small, everyday business expenses. Examples of petty cash use includes payment for postage, phone cards, and reimbursing travel expenses. The amount in a petty cash fund will vary by organization – how much is […]
08
Mar
Mar
When you hire a new employee, it is good business practice to offer them a contract. A contract of employment can be verbal, or it can be written. Where most small businesses run into trouble is in their reliance on verbal agreements, opting not to use written employment contracts. This is problematic because verbal agreements […]
14
Aug
Aug
Maintaining good records is essential for every business. And keeping those records is a legal requirement that, depending on your jurisdiction, you will be obliged to do for a specified period of time. But you shouldn’t just maintain records to meet legal requirements. Having accurate records can also help you do the following: ✓ Prepare […]
