Business start up | Numbers Knowhow https://numbersknowhow.co.uk/category/business-start-up/ Cash flow and financial planning made easy Wed, 18 Feb 2026 15:57:08 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.1 https://numbersknowhow.co.uk/wp-content/uploads/2022/02/cropped-Favicon-Cog.png Business start up | Numbers Knowhow https://numbersknowhow.co.uk/category/business-start-up/ 32 32 Overcoming 5 Common Challenges For Social Enterprises https://numbersknowhow.co.uk/overcoming-5-common-challenges-for-social-enterprises/ Mon, 13 Nov 2023 11:55:31 +0000 https://numbersknowhow.co.uk/?p=13623   Social enterprises do amazing things. They matter because they offer underrepresented groups employment opportunities. They also reduce economic inequity, improve social justice and increase environmental sustainability. But it’s not always rosy in the garden of social enterprise. Why is running a social enterprise difficult? Being a social enterprise brings a unique set of challenges not experienced by traditional businesses or charities. Social enterprises are constantly trying to balance their activities between generating profits and meeting their stated social aims. It doesn’t matter what you do but you must have a clearly defined social or environmental mission at the heart of your organisation, earn more than 50% of your income from trading and re-invest or donate at least 50% of your profits to your mission. However, meeting the competing financial and social needs can be difficult and many social enterprises struggle to stay solvent or meet their ambitious social goals. This blog looks at five of the most common challenges facing social enterprises today. Financial challenges for social enterprises Social enterprises can often find managing their finances difficult. These issues generally fall into three broad categories: Limited access to capital Banks and other lenders typically view social enterprises as higher-risk […]

The post Overcoming 5 Common Challenges For Social Enterprises appeared first on Numbers Knowhow.

]]> Take Business Seriously To Succeed https://numbersknowhow.co.uk/take-business-seriously/ Fri, 19 May 2023 09:14:29 +0000 https://numbersknowhow.co.uk/?p=11612   There is no magic bullet to make your business successful. However, if you treat it as a hobby, then you’re bound to fail. That’s why you need to run it, deal with it, and approach it as it deserves. Firstly, what’s a business?  One official definition of a business is the activity of making one’s living or making money by producing or buying and selling products. What it involves is a plethora of activities. These are: creating a product or service, promoting it, managing finances and resources, and building relationships with customers, and suppliers.  A business can take many forms. It can be a sole proprietorship, a partnership, or a corporation. The goal of a business is typically to generate revenue, increase profits, and create value for stakeholders. And in order to be able to do this, you must take business seriously i.e. put in the hours. What’s a hobby? A hobby, on the other hand, is a regular activity done for enjoyment, typically during one’s leisure time, not professionally. And most importantly not for pay. And although a business too should bring you joy, doing it just to entertain yourself and fill your spare time will never take […]

The post Take Business Seriously To Succeed appeared first on Numbers Knowhow.

]]>