Category: Finances

What will VAT mean for companies in the UAE – and how will accountants benefit?

Following the announcement last year that the UAE will introduce VAT on the 1st of January 2018, those of us working here must prepare for a huge shift in the economic and financial landscape. As this new era quickly approaches, comprehensive planning, preparation and checking is essential to ensure a smooth transition. To help with this somewhat daunting process, we look at what VAT will mean for companies and who will be benefitting from its introduction. 

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Four money mistakes that will sink your startup

You have the best business idea in the world. But without the funds to prove its worth and get your organisation off the ground, it counts for very little. And of course, finding the money to get things moving is only the start – you then need to bring in enough cash to stay afloat. Researching over 300 startup business post-mortem essays, VC firm CB Insights discovered that a lack of capital was acknowledged by 26% of them as causing the demise of their businesses. When it’s put like that, it sounds so obvious – you run out of money, your business goes down. But it is of course more complex. So with that in mind, let’s look at four key mistakes new businesses often make.

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5 companies that sold for billions not long after launching

Today’s article is a bit of diversion from the norm. I don’t offer up entrepreneurial advice; rather, I wanted to take a look at some of the “unicorns” of our time (startups that have earned a valuation of over $1 billion), and specifically those that were purchased for insane amounts not too long after launching. The stories are no doubt fascinating, and will make you wonder just how such out-of-the-gate valuation growth is even possible.

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The 10 parts of your business plan

It’s a question that every new startup owner has to ask him or herself: Do I really need a business plan? Sure, there are plenty of small companies that operate without one, but to give yourself the best chance of success, the answer to this question is, quite simply, that yes, you do need a business plan.

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The 5 financial mistakes startups make

Whether on the personal or business front, the pain of poor financial planning cuts deep. Of course in this article I am going to be talking about the corporate world, specifically with an eye on you startups. As a numbers guy I do love my stats, and one worth referencing is the following from CB Insights: in a study on a large sample of companies, it was found that 29% of failed startups fell short because they ran out of cash.

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What stage of the business life cycle are you in?

While fair to say that business is never not challenging, a look at each of the stages of the business life cycle highlights a unique set of obstacles to deal with and overcome. You will have to be flexible in your thinking and adapt your strategy as you move along. Indeed, different approaches are required for market penetration versus, for example, what may be required to achieve growth or retain market share.

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7 rules for keeping startup costs in order

According to research from the venture capital database CB Insights, who surveyed over 150 failed startups for the study, the number two reason for failure was simply running out of cash. Their survey showed that a third of startups cited “spending too much money” as a close second on the list of reasons for why they failed.

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