Financial management
It’s always important to set the foundations of a small business correctly from the start. Now this is easy to say and somewhat obvious but I’ve seen a number of small businesses start their financial, inventory and customer management systems using an excel spreadsheet and face the difficulty of trying to migrate all their information to dedicated software applications once they realise that excel isn’t meeting all their needs.
A visit to the DED
This was now our second time to the DED (Department of Economic Development) and we were a bit unsure what to expect.
Our first visit a few weeks earlier had not gone as planned. We had arrived on that occasion to reserve our business name and register it in the appropriate business license category. We had researched the pros and cons of the different categories that were options for this business and were fairly confident with the category we had selected. However when we went to register the business under our chosen category, the clerk confidently advised us to register under another category.