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Small Business

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mycfong-capex-vs-opex

Capex vs Opex: A Comprehensive Guide for SMEs

Introduction   Understanding financial management is a cornerstone of success in the dynamic business world. Particularly for small and medium-sized enterprises (SMEs). Much of this involves making informed decisions about...
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mycfong-capex-strategies

Unveiling Proven Capex Strategies for SMEs

Understanding Capital Expenditure (Capex) in SMEs Capital Expenditure, commonly known as Capex, is essential to any business, especially SMEs. But what exactly are Capex strategies, and why does it matter...
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mycfong-cash-flow-dashboard

How to use a Cash Flow Dashboard to Monitor Cash Flow Metrics and Spot Performance Trends

1.0 Introduction In the dynamic business world, a universally acknowledged truth is that Cash Flow is King. Monitoring and managing cash flow is the cornerstone of financial stability and success....
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mycfong-optmised-cash-flows

Investing in the Future: How to Maximize Long-Term Success Through Cash Flow Optimisation

Cash flow optimisation is crucial for businesses to succeed in today’s fast-paced economy. Even promising companies can have difficulty staying afloat without proper cash flow management. However, by strategically handling...
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tech-mycfong

How Technology Helps Small Businesses Optimise Cash Flows

1.0 Introduction Cash flows, a vital component for small businesses, ensures financial stability and growth. Effective cash flow management is essential for maintaining a healthy business. In the past, small...
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mycfong-cash-flow-gap

How to Address Cash Flow Gaps and Shortfalls in Your Small Business

1.0 Introduction One of your most important responsibilities is to manage your cash flow effectively. Ensuring you have enough funds to cover your expenses and invest in growth is essential....
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mycfong-financial analysis

How to Conduct an Effective Financial Analysis for Your Small Business (Part 2)

Introduction Knowing your small business’s money health is key to success. A good financial analysis can help you make smart choices and grow your business. In this complete guide, we...
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mycfong-expansion

Financial Planning for Business Expansion: Key Considerations for Small Business Growth

Introduction Business expansion is exciting for small companies. This guide helps deal with finance issues around expansion. These include managing cash, finding funds, making predictions, handling risks, and controlling costs....
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mycfong-digital-transform

Embracing Digital Transformation in Finance: Strategies for the Modern CFO

Introduction to Digital Transformation for CFOs   Companies must keep up with the latest technology in today’s business world. Digital transformation is especially important for finance leaders like CFOs. In...
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mycfong-Supplier-relationships

The Art of Negotiation: Achieving Better Supplier Terms for Small Businesses

Introduction to Supplier Negotiations   Good negotiations with suppliers can make or break a small business. This blog post will discuss how small businesses can get better supplier deals. We will...
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mycfong-financial-crisis-phot0

Best Financial Crisis Management strategy for Small Businesses

Introduction Financial crisis can be a major challenge for small business owners. As a small business owner, you will navigate difficult financial situations. This post will discuss practical crisis management...
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mycfong-cash-financial-health

Cash Flow Management for Small Businesses and How it Affects Financial Health

Introduction  Effective cash flow management is a crucial component of business success. This is particularly true for small businesses. They often operate with limited resources. The challenges they face need...
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mycfong-fraud

Fraud Prevention: Learn Ways to Stop Fraud in Your Small Business

Introduction Fraud is a big problem for all kinds of businesses, especially small ones. Fraud can hurt small businesses, and it is imperative to stop it from happening. The Association...
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mycfong-fin-analysis

A Beginner’s Guide to Conducting Effective Financial Analysis for Small Businesses

1. Introduction   Financial analysis is crucial for small businesses. It helps them understand the financial health of their businesses. Furthermore, this helps in decision-making. Hence, this beginner’s guide aims...
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Male-Accountant-mycfong

6 Tested Suggestions to Keep better Financial Records

Master your finances with our top 7 tips for impeccable financial record-keeping! Unlock financial success & peace of mind today.
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mycfong-risk-management

4 Proven Ways Virtual CFOs help Small Businesses Manage Risk

Discover 4 proven ways Virtual CFOs help small businesses manage risk. Our expert tips will provide you with what you need to navigate financial uncertainties.
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mycfong-valuing-a-buiness

The Ultimate Guide to Valuing a Business for Maximum Profit.

Unlock the true value of your business with our ultimate step-by-step guide to valuing a business to make informed decisions. Discover our expert tips now!
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mycfong-business-plan

How to Develop the Best Business Plan for Small Businesses

Discover the secrets to developing a winning business plan for your innovative small business and stay ahead of the competition.
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mycfong-female cfo

The best strategic decision for small businesses – The CFO

Having a skilled CFO as part of your small business team can help guide strategic decisions and ensure long-term success. Don't miss out on this essential asset
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mycfong-cash-flow

7 Simple Ways to Improve Your Small Business’ Cash Flow Now

It can be hard to keep track of your cash flow. When you have a lot of bills to pay and not much money left over, one can lose sight...
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mycfong-fixed costs

9 easy and helpful methods you need to optimize Fixed Costs

Fixed Costs are a significant part of a business. Managing them effectively is key to profitability. These 9 tips can help.
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mycfong-pricing

3 Proven Pricing Strategies for Small Businesses

Pricing can often be the most difficult aspect of running a small business. It requires an understanding of your costs, your customers and your competitors
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10 Proven Alternative Finance Sources for Your Small Business

We will explore ten of the most popular alternative finance sources for small businesses. Understanding these sources are good for your business.
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Using Franchising and Licensing to Unlock Small Business Expansion

Introduction Most small business owners would be thrilled to have one location, where they sell their product or service to customers. But what if you could expand your business exponentially,...
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10 powerful ideas to reduce inefficiencies in your small business.

A company may want to clean up its operations to identify and eliminate inefficiencies that are draining its resources to boost profits.
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10 Financial Strategies for SMEs

There are a plethora of financial strategies available to assist even the smallest of businesses in succeeding, which can make or break the bottom line.
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Five Tips for an Effective Finance Transformation

By automating as many tedious, time-consuming tasks as possible, streamlining inefficient manual processes, and utilizing an agile methodology that enables continuous improvement over time, you will be able to adapt...
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Personal Income Tax (PAYE) in Nigeria: A Comprehensive Guide for Individuals, Businesses, and the Self-Employed

One thing to keep in mind is that because the principle is for taxpayers to pay tax on income earned, determining the rates at the point of earning would be...
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Profitability for small businesses: The Project Mindset

Proper project management and reporting is a very efficient way to ensure that internal processes do not get in the way of gaining customer satisfaction.
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Working Capital Management for Small Businesses in Nigeria

Fully understanding all components of the working capital cycle is an important part of business viability, as it allows for better management of cash flow
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Why It’s Important to Understand the Financial Implications of Each Business Structure

The structure of a business refers to the legal form a business will assume for the purposes of operating. It informs what the statutory, financial, tax, and other responsibilities of...
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Want to make sure your small business is safer? Just follow these risk management fundamentals!

One of the most useful practices for a small business to implement involves risk management. It is vital that even in good times, you prepare for tough times. If a...
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Why you should consider sweat equity for your startup or small business

Sweat equity is a term that is used in the business world to describe the idea that you should get some ownership in the company you are working for. Sweat...
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The importance of reviewing your small business’ financial performance

After your business has been running for a couple of years, it's worth reviewing how well you're doing. You will want to look at the financial performance.
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3 Powerful Revenue boosting strategies for your small business

In this blog, we will discuss three of the most common Revenue Boosting Strategies: Upselling, Cross-selling, and Down-selling.
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4 Incredibly Useful Tips for Small Businesses to improve net worth

The net worth of a company is one of the most important things to understand about it. When considering how stable a company is and whether to invest money in...
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contracts

Understand how contracts can financially secure your small business

Contracts have financial implications when it is carefully followed, when it is broken or even where there is none in place
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How to make budgeting more relevant for your small business

The most common reason budgets are meaningless is that they are viewed as a collection of arbitrary numbers that do not correspond to the reality of the situation.
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Internal Controls for Small businesses

In a business, internal controls are one of the most crucial, yet least understood, components of the operation. They are in charge of safeguarding a company's assets and ensuring that...
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7 ways to improve the accounts payable process in your small business

Except your business is in the 0.00001% category, we can guarantee that your business will have creditors
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Inventory management for small businesses

Inventory management can make a significant difference in the success of small enterprises. It is a proven fact that a company can be successful if its inventory turnover and in-stock...
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Accounting Solutions for Your Small Business or Startup in Nigeria

To help you choose the best accounting software for your small business, we've put together a list of the best features that your accounting software should have. We have also...
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Guide to managing overdue receivables in your small business

Customers may not pay their invoices for a variety of reasons, but in my experience, the most common reason is customer discontent. When a customer believes they have not received...
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How to guarantee good cash flows in your small business

In this blog post, we'll outline some crucial tips that will help you generate positive cash flow in your small business. Additionally, you'll learn some proven methods for increasing your...
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Why your small business requires a CFO

A business owner might decide to handle the responsibilities of finance and accounting, but as a business develops, entrepreneurs discover that hiring professionals generates solid cost-value benefits while freeing owners...
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What can a CFO do for you

the CFO is in a unique position to see all that happens in a business and can tend to be more influential than the CEO or founder. This is simply...
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