Gross sales and net sales are sales metrics that are fundamentally important for business owners, sales managers, and investors alike. They represent essential insights into the business’s performance and, when analysed correctly, can help the company achieve its goals. In the following sections, we will discuss gross vs. net sales and explain each metric. We…
Small business owners in the UK have a range of problems to address, among which include managing their business finances well. Among these include the need to pay tax, managing your business expenses, dealing with cash flow and a myriad of others. Juggling so many balls in the air can feel overwhelming. But ultimately, you’re running your own business for a…
One of the most important decisions you’ll have to make when starting a business in the supply chain industry is whether to follow the wholesale or retail business model. While both retail and wholesale have unique advantages, they’re fundamentally two entirely different distribution arrangements. As a business owner, you’ll need to acknowledge each one’s specifics when it…
No matter whether you’re a startup company or an established corporation, chances are that at some point you’ll need to introduce a new product or service to the market. To guarantee a successful product launch, you’ll need a go-to-market strategy. Go-to-market strategies can help you mitigate risks associated with your product launch, prepare your target audience…
If you’re a business-savvy entrepreneur looking for new opportunities to boost your bottom line, the consignment model could be an appealing option for you. It comes with many benefits for both consignors and consignees and is prevalent across multiple industries. To find out what is the meaning of consignment and how you can take advantage…
If you’re planning to start a business in the UK, it’s key to evaluate the opportunities you can take advantage of and the industries you can penetrate. For aspiring entrepreneurs, one of the most important first steps is selecting the right niche to position their business in. This choice will ultimately shape the way you…
Running an online shop and attracting new customers in today’s highly competitive business landscape is both extremely rewarding and challenging. To secure repeat business, it’s key to implement strategic sales techniques that will allow you to create lasting customer relationships via an outstanding buyer journey. One of the best ways to significantly enhance the customer experience, increase…
No matter how big or small your business is, at the core of your performance is how effectively you market your products. Today, marketing ranks among the most important wheels in business. With the dynamic and competitive business landscape that we operate in, it’s now more important than ever to strategically select marketing channels and…
If you’ve always dreamed of running your own business but you could never quite settle on an idea that aligns with your interests and budget, this post is for you. Below, we’ve curated more than 70 small business ideas which can be quick to launch and budget-friendly. In our list, you’ll discover everything from tradesman…
If you’ve ever been in a situation, asking yourself “why is my debit card declining when I have money?” you’re not alone. Our debit cards are our trusted partners for making purchases and when a transaction is declined, even with enough money in your account, you could be left confused. In this post, we unpack…
Running an eCommerce business, whether a small online store or a large eCommerce website, can be equally rewarding and challenging. You must make the right decisions at every stage to stand out among online businesses. The best way to do this is to track and monitor the most important eCommerce key performance indicators (KPIs) and metrics. The…
Whether you run a small business or are part of a large corporation, strategic social media efforts can deliver outstanding results. You’ll need a bulletproof social media strategy and a marketing plan to achieve your goals. In the following sections, we show you how to use social media for business and offer marketing tips that…
The online shopping space is experiencing drastic growth reaching trillions of dollars worldwide. Some estimates expect e-commerce sales to exceed $6.3 trillion in 2024, while others anticipate expenditure to reach $11 trillion. While established markets such as the United States, the United Kingdom, Canada, Japan, and countries in Europe will continue to see growth, some of the fastest growth…
Whether you’re an aspiring business owner or an established entrepreneur, you need to be able to determine your company’s financial health. You can do this by calculating your business’s revenue and profit. Although these two financial indicator terms are often used interchangeably, they are not the same. This comprehensive guide covers the difference between revenue and…
The United Kingdom (UK) trades with many other European countries. This developed and industrialised economy was previously well-known for its established manufacturing and agriculture sectors. However, changes in production industries, the introduction of new government schemes and technological advancements have resulted in significant growth in the service industry. With a high purchasing power parity among the…
