Blog – RAC Management Consultancy Ltd.

Being a Self Employed Sole Trader vs Operating a Limited Company

Being a Self Employed Sole Trader vs Operating a Limited Company

Introduction If you have been running your own business by yourself, then you are considered as a self-employed person. One of the most alluring things about starting a business as a sole independent trader is that it is easier than going through the hoops of filling out the forms to register your business. Perhaps you … Continue reading "Being a Self Employed Sole Trader vs Operating a Limited Company" ...
The Power of Positive Thinking and Self Belief

The Power of Positive Thinking and Self Belief

What is Positive Thinking, and how does it bring about success? You have probably heard about the power of positive thinking and how it can make you successful. Not everybody understands how on earth positive thinking can change situations and bring about positive results. A wise man once said that the most significant accomplishments, the … Continue reading "The Power of Positive Thinking and Self Belief" ...

Best Money Management Apps on the Market to Help you budget, save and invest money.

In these days of advanced technology, there are many Apps available to help you manage your budget or plan your money. See which of below may work best for you, some of these may be specific for North America  Goodbudget  Similar to Mvelopes and the good ‘ole envelope system, is Goodbudget. It was formerly known as … Continue reading "Best Money Management Apps on the Market to Help you budget, save and invest money." ...

Business Transaction Management and Business Transaction Records

Transaction tracking and recording are very important, especially for growing businesses. Often, details such as recording every transaction can seem like a burdensome task. However, the benefits gained from taking the time to set up proper processes and systems to cope with your business expansion can result in a hundredfold increase in profits! So, is … Continue reading "Business Transaction Management and Business Transaction Records" ...

Importance of a Good to Excellent Credit Rating

As someone who worked in and for Financial Services Companies for almost 20 years, and is an active investor (property and stock market) I have mastered how to maintain a good to an excellent credit score (see the end of this article) at all times. At racmacs.com, I coach entrepreneurs and business owners how to … Continue reading "Importance of a Good to Excellent Credit Rating" ...
How to Practice Proper Budgetary Control?

How to Practice Proper Budgetary Control?

You probably know about budgeting and its role in ensuring that your money gets used for the right purposes and that the available amount of money gets allocated in the most useful way possible. Whether you are a business owner or use budgets for your reasons, having a budgetary control system in place is the … Continue reading "How to Practice Proper Budgetary Control?" ...

Does your Business have a Cash Flow Management Process in Place?

Cash flow management is the process of monitoring and controlling the flow of cash in and out of your business. As a business owner, you need not only to track the movement of money (that is, money paid out, and money received) within the business, but you need to use the information gathered through the … Continue reading "Does your Business have a Cash Flow Management Process in Place?" ...
Money Management Tips for Entrepreneurs Business Owners

Money Management Tips for Entrepreneurs Business Owners

Money management is of extreme importance if you are an Entrepreneur (or wish to be one), and could be the difference between success and failure. It can also affect the performance of your business. If you have a problem with money management, then you will have a problem making your business profitable, or even running … Continue reading "Money Management Tips for Entrepreneurs Business Owners" ...