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For a successful business, you need a viable business idea, the skills to make it work and the funding. Discover whether your idea has what it takes.

Forming your business correctly is essential to ensure you are protected and you comply with the rules. Learn how to set up your business.

It is likely you will need funding to start your business unless you have your own money. Discover some of the main sources of start up funding.

Businesses and individuals must account for and pay various taxes. Understand your tax obligations and how to file, account and pay any taxes you owe.

Businesses are required to comply with a wide range of business laws. We introduce the main rules and regulations you must comply with.

Learn why business planning is an essential exercise if your business is to start and grow successfully, attract funding or target new markets.

Marketing matters. It drives sales and helps promote your brand and products. Discover how to market your business and reach your target customers.

Some businesses need a high street location whilst others can be run from home. Understand the key factors from cost to location, size to security.

Your employees can your biggest asset. They can also be your biggest challenge. We explain how to recruitment and manage staff successfully.

It is likely your business could not function without some form of IT. Learn how to specify, buy, maintain and secure your business IT.

Few businesses manage the leap from start up to high-growth business. Learn what it takes to scale up and take your business to the next level.

Why your ecommerce business needs automated invoicing

Ecommerce is a rapidly growing industry, so it is no surprise that so many entrepreneurs are setting up their own online stores. It is also an industry that has a number of unique obstacles to overcome, and dealing with these will be key to success for your business.

One of the major areas to get right is invoicing. Your customers will expect to receive fast, accurate and professional-looking invoices after completing their order - and you need to be sure you accurately track your income and manage your cash flow.

One solution to this problem for ecommerce businesses is to use invoicing software.

Why invest in an invoicing solution?

Invoicing software can bring a host of advantages for both business and consumer - so it should certainly be considered by any entrepreneur hoping to launch an online store or business looking to improve their current operation.

While it is possible to perform manual invoicing, you will find that it can be tricky and time-consuming to generate unique invoice numbers, identify and track repeat customers, accurately relate order details, apply the right tax rates, and so on.

Therefore, invoicing software can reduce stress, free up time and ensure that you are sending completely accurate invoices to your customers. This is of course important for them - but also for your business, for accounting and tax purposes.

Invoicing software can also help your business get paid more quickly, as you can automate the process of sending out reminders, manage payment terms, track due dates and much more. You also have easy access to your invoice records - making your finances easier to manage.

Not only this, but as Invoicing software is a paperless option, it also means that it is environmentally friendly and will help your business reduce its carbon footprint - this can also be helpful for brand reputation.

Consider invoice discounting

Sometimes an ecommerce business will find that it can be hard to get invoices paid. While reminders can be an effective tool to use, it is also worth looking into invoice discounting, which provides you with instant access to cash tied up in outstanding invoices, in return for a small fee.

This allows you to use the income earlier than you would've otherwise received it, to cover running costs, wages and so on, and ultimately ease any cash flow issues

The final word

An ecommerce business has the potential to be very lucrative, but it is also an industry with a few unique challenges. Invoicing is one of these, as you will need to invoice your customers efficiently and keep accurate records of your sales.

Invoicing software is a great solution, as it can streamline your financial operations, ensure that no errors are made and help you to receive payments as quickly as possible.

Copyright © 2019 Article was made possible by site supporter Victoria Harrison

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