Home business, community of practice
Running a home based business? Join our free Home Business, Community of Practice - an initiative to develop connection and support through physical and virtual events.
As a new joint initiative from Ku-ring-gai and City of Ryde Council’s supported by the MAP Institute we invite all home based business owners to the Home Business, Community of Practice. The community of practice (CoP) is a group of home based business people who will come together to fulfil both individual and group goals. The group will meet monthly (virtually and later in person) and to learn and connect.
Home Business Community of Practice session 2 - Increase cash by reducing costs and deferring payments
Some say that cash is king. Cash is the lifeblood of small business. Maintaining adequate cash is essential for business continuity.
There are three strategies to increase your availability of cash:
- raise revenue;
- reduce costs; and
- defer payments.
Join us to focus on the last two strategies. We will dissect cost reduction strategies with a forensic discussion on expenses. We will then investigate if, how and when deferring payments is appropriate.
The purpose of these strategies is to increase your working capital (the available cash in your business) in order for your business to continue to operate through lockdown.
When: Friday 10 September, 10 - 11.30am
Where: Google meet (details when you register)
Ku-ring-gai Council first focused specifically on supporting home based business back in October 2019 when it ran an event with City of Ryde Council and CSIRO during NSW Small Business Month. The event provided local businesses access to industry experts and was also used to launch the NSW Home Based Business web resource. Following the event Council worked with Regional Development Australia (Sydney) and the NSW Small Business Commissioner to undertake research on home based businesses in the Ku-ring-gai area. One key recommendation of the research was to supply more learning, mentoring and networking opportunities which has led to the establishment of the Home Business Community of Practice.
Contact Will Adames, Community and Business Engagement Coordinator on 9424 0757 or email@example.com.