Getting rid of your bad debt – Part 2

Proverbs 22:7 the rich rules over the poor, and the borrower becomes the lender’s slave. Last month, I spoke about getting out of debt and gave five quick tips. Without consumer debt you can build wealth much faster. Think of all the cash you pay on your debt and how much you could have saved if…

The future of internet businesses

The internet is still in its new and emerging phase of growth. There are still thousands of untapped opportunities on the internet. The rise of internet businesses will continue to grow with no signs of slowing down in the near future. What is driving internet growth? Increasing number of internet users The increase of people…

Importance of a business budget

A budget helps a business owner plan to measure how effective the business is in reaching its strategic goals. A budget has three major goals: Planning Creating consistency within all aspects of the business Evaluating performance Planning A budget forces a business owner to plan ahead. A business with a plan of action is more…

Assessing future growth

In assessing future growth, there are five main areas you should look at: Adequacy of capital/ access to capital Asset efficiency Scalability of earnings Economic events Management experience and training Adequacy of capital/ access to capital A business should have enough capital not only to invest in business growth but to weather bad economic times.…