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The ins and outs of employee performance reviews
When you run a small business, you’re involved in your company’s sales, accounting, marketing, and human resources, among other things. Being responsible for human resources isn’t just about hiring and …
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Creating a financial plan
Depending on the current state of your finances, financial freedom might seem a long way away. For many people, financial freedom—when you don’t have to worry about how to pay …
Get paid first – why your salary should be your business’s first monthly expense
It’s the line item most often left out of a small company’s budget: the business owner’s salary. Let’s face it: you can always spend cash on your business. From office …
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4 questions you should ask your accountant
Ideally, you and your accountant are more than just “adviser” and “client”. With your combined skills, expertise, and shared mission to support a thriving business, you’re more like strategic partners. …
How to set payment terms if you’re a freelancer or contractor
Following up on late or non-paying customers is no freelancer’s favorite task. Which is precisely why you need to set payment terms up front – and in writing – before …
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VAT – Registration Requirments
VAT – Registration Requirments Company Trade/Commercial license Memorandum of association (MOA) Share certificate (free zones companies) Owner’s/ partners’ passport (s) copy – with visa (if applicable) Owner’s/ partners’ emirates id …
10 Money-Saving Tips for Freelancers
While working at home as a freelancer sounds like the ultimate dream for anyone who tires of the rat race, freelancers still have more than their fair share of financial …
VAT Administration – A Step by Step Guide
Businesses are required to do following to comply with comply with VAT Legislation Change the Invoicing template to include necessary details required by VAT law. Implement VAT Enabled accounting system …
How to create good habits in business
If you’re like most small business owners, there are never enough hours in the day to complete every task on your list. Often you’re faced with prioritizing what you need …
Tips for keeping your business data secure
It’s no secret that data loss can be a costly nightmare for a small business, with recent estimates citing the total cost of data breaches exceeding $2.1 trillion by 2019. …
Ways to keep customer data secure
Cyber crime is a serious concern for business owners. Recently IBM Chair, CEO, and President, Ginni Rometty, called it “the greatest threat to every company in the world”. According to …
What to Look For In A Payment Management System
Quick and efficient payment options benefit both small business owners and their customers. Consumers are used to flexibility – cash, check or charge? – when buying from large retailers. If …
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The importance of documenting processes and systems
Many entrepreneurs operate with their business processes and systems in their heads. They know what they need to do each day and the way they want to get things done. …
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Money tips for new business owners
Want to avoid situation where you do not know how much you have invested? Or a frantic last minute search for missing financial records? New business owners have a lot on …