By Gary Hewamadduma ACMA, CPA, CGMA, MBA, B.Sc.(Hons) in Computer Engineering Finding the right formula for revenue, cost of goods sales (COGS), labor costs, promotional giveaways, controllable overheads and non-controllable overheads is essential in running a restaurant entity. The reason for most restaurants being short-lived is not the taste of food or the service level….
By Gary Hewamadduma ACMA, CPA, CGMA, MBA, B.Sc.(Hons) in Computer Engineering Invoice factoring (AKA; invoice discounting, debtor financing, receivables factoring) is a great option for companies that need to manage their working capital but unable to secure a conventional short-term bank loan to increase short-term liquidity. Factoring should not be confused with “receivable financing” or…
By Gary Hewamadduma ACMA, CPA, CGMA, MBA, B.Sc.(Hons) in Computer Engineering You are a founder of a company or a member of the founding team of employees. Company has a lot of promise, but funds raised are for purposes other than for C-suite compensation. So, the Board decides to compensate you with equity stock. Once…
By Gary Hewamadduma ACMA, CPA, CGMA, MBA, B.Sc.(Hons) in Computer Engineering All businesses have goods and services vendors. IRS mandates that all service-related vendor payments be reported on a form 1099 at year end, with a copy to IRS. However, there is a quite a bit of confusion around collection of W9 form and submission…
By Gary Hewamadduma ACMA, CPA, CGMA, MBA, B.Sc.(Hons) in Computer Engineering Up until the new millennium, having your own office room or a corner office was considered a success in your career. The people in the ‘cubicles’ were eager to get in their own office. A company must have an “office location” and the success…
First off, the intention of this article is not to discuss the technical aspects of data security, but to touch on the perceptions of security, when it comes to remotely managed back-offices. When we get on a plane, we never question the skill set of the pilot. We automatically assume that the airline has followed…
Payments ‘going out’ of a business are never fun, both in terms of work involved around it and emotionally for a business owner. In an old school conventional office setting, In the last few years, there have been multiple all-in-one fin-tech solutions that has made the AP process a whole lot easier, more efficient and…
If you are managing a business, cost savings are a top priority. When it comes to cost savings, labor expenses is probably at the top of the list. With ‘labor expenses’ comes the decision of whether to hire people as internal employees (W2 employees) or Contract employees (AKA 1099 employees). While there are many advantages…
by Brian Flynn and Dimitri Steinberg, FounderPartners The two of us have sold over 100 businesses over the past 25+ years and we’ve learned many important lessons along the way. We’ve played roles on all sides of the exit process – as M&A investment bankers (Morgan Stanley, Robertson Stephens, Lazard, etc), serial tech entrepreneurs (10…
