What is labour efficiency and how to measure it?

Team of employees at a whiteboard

What is your labour efficiency rate? Running a business comes with many different aspects to consider and one of the most important is knowing the numbers. A business that is making money is able to stay afloat. There is more to running a profitable business than simply setting a price for the product or service […]

Key Steps to a Successful end of year stocktake

If your business carries inventory as part of its trading operations, it is important to periodically count the actual stock on hand to confirm you are making the gross profit margin you expect. This count may be quarterly, half-yearly, or rotating. Importantly, plan an end of financial year stocktake to ensure your records are accurate […]

Employee Entitlements

As you prepare your business for the end of the year it is time to quantify and recognise the amounts you owe to your employees for untaken leave entitlements. Your financial position is more than just the money you have in the bank and the bills you have to pay. As a business, you also […]

Where is your profit really coming from?

Have you ever taken the time to look at the profit of your business and where it is actually coming from? It is important to look at the products or services that your business is providing and see exactly where the profits are coming from for those items. Each product or service has a unique […]