Business Plan
Posted by SkillMaker in Dec, 2016
Business plan A business plan is a document that provides a ‘roadmap’ on how a business is going to work and succeed in achieving its goals. It describes the business, its market, its objectives and the strategies developed to achieve these. New businesses, businesses seeking formal funding and businesses changing direction typically prepare a business […]
Category: BSBSMB402
Gross Profit Margin
Posted by Peter Baskerville in Sep, 2016
What is the Gross Profit Margin? Gross profit margin is a financial ratio that is commonly used when assessing the financial management and performance of a business. A higher gross profit margin, relative to the average industry benchmark or to previous trading periods, is an indicator of good financial management. The gross profit margin is […]
Category: BSBSMB402
Selling Price Markup
Posted by Chau Nguyen in Sep, 2014
What is the Selling Price Mark up? When a company calculates the cost of a product or service, then adds a proportion onto that cost; that is referred to as a Selling Price Mark up. What is the Selling Price Mark up like? The price mark up is like a profit margin-the excess […]
Category: BSBSMB402
Hourly service charge
Posted by Tara-sha Wilson in Sep, 2014
What is an Hourly service charge? An hourly service charge is the fee which a business charges for their time. The fee includes most costs or expenses that the business must incur to supply this service i.e. Rent, advertising fees, software expenses, equipment costs etc. An hourly service charge can be used by bookkeepers, lawyers, […]
Category: BSBSMB402
Post Tagged with hourly service charge, image, MAL, powerpoint, proprof, scoopit, small business finance, SMB Business Pricing Strategies
Posted by Alisha Solanki in Sep, 2014
What are Business pricing strategies? Pricing refers to the process of setting a price for a product or service and more than any other element of your marketing mix and this is what will have the biggest impact on the amount of profit you make over time. What are Business pricing strategies like? A Business […]
Category: BSBSMB402
Business Products
Posted by Jesamine Barton in Sep, 2014
What are business products? A good, idea, method, information, object or service created as a result of a process and serves a need or satisfies a want. It has a combination of tangible and intangible attributes (benefits, features, functions, uses) that a seller offers a buyer for purchase. For example a seller of a toothbrush […]
Category: BSBSMB402
Business Products
Posted by Telise Kelly in Sep, 2014
What are business products? Business products are goods and services sold to other businesses unlike retail products, which are sold to consumers. What are business products like? Business products are generally the raw materials used in the manufacture and or construction of a final product. For instance, high silica sand is a raw business product […]
Category: BSBSMB402
Sole trader regulations in Australia
Posted by Melissa Ramsden in Jul, 2014
What are sole traders? A sole trader is a simple business structure. Set up in an individual’s name, therefore it is that sole person who manages, operates and is the only person liable for all aspects of their business because in the eyes of the law you and the business are one. What are sole […]
Category: BSBSMB402
Net Profit
Posted by Melissa Ramsden in Jul, 2014
What is net profit? Net Profit is a total of the amount of money earned or lost after subtracting all of the expenses from the Gross Profit. What is net profit like? Net profit is like an old car, at first it might not work but with hard work, determination, dedication and on going maintenance […]
Selling Price Markup
Posted by Emma Doolan in Jul, 2014
What is the Selling Price Markup? Selling Price is the retail price (the amount you sell the product or service for). Where as the markup is the amount you add to the purchasing price to get your selling price (retail price) of your product. What is the Selling Price Markup like? The Selling Price Marketup […]
Category: BSBSMB402