Showing posts from October, 2014

Tips from Xero for small businesses to manage their finances over summer

Money Week is here in New Zealand! With summer fast approaching it’s a timely reminder for small businesses to ensure their finances are in shape for the holiday season. Trend analysis of Xero’s small business customers in New Zealand from 2011 to 2014 shows accounts receivable is on average more than 30 percent lower in January than the 12 month average. So businesses need to be prepared for that lower than normal cashflow. If there’s one thing we know about small business finances, it’s that cashflow is king so preparing well in advance for that dip in January is crucial. Taking sensible, practical steps will help you control spending and manage your business finances during that holiday period. Developing a clear financial plan to keep track of finances coming in and going out is key to keeping business in shape. And, with only ten weeks until Christmas, now is a great time to take a few hours and plan all the really important things that need to happen before then. Diffe