So, what is a disaster? A disaster is an event, often unexpected, that seriously disrupts your usual operations, processes and producers, and can have long term impact on your normal way of life or can affect your business. What is Business Continuity Planning (BCP)? Business continuity plan (BCP) is the creation and validation of … Read more
In our previous article, we listed the main reasons behind the deficit being faced by Bahrain’s Social Insurance Organization. We are now going to discuss the remedies being discussed by Parliament and the Shura Council to resolve the issue. In order to put things into perspective, we need to get some figures from the SIO’s … Read more
Inventory management is so critical if you want to run a profitable restaurant. A restaurant’s profitability is calculated using the cost of goods sold, so it is important that your calculated inventory value be as accurate as possible. This is where the inventory valuation method comes to surface. Choosing the right method can make the process … Read more
In our previous articles, we listed the main reasons behind the deficit being faced by Bahrain’s Social Insurance Organization and we also reviewed the solutions being discussed by the Shura Council and Parliament. In this article, we are going to propose alternatives that could potentially resolve the issues faced by the Pension Fund once … Read more
Some people believe that business plans are merely guesses made about the future of a business that we know little or nothing about. However, statistics indicate that businesses, activities, and even individual actions have a better chance of succeeding if they start out with a plan. Each business should have a starting point and a … Read more
Pondering the idea of whether or not it’s time to ask for professional help for your business. Well, here are the top 5 reasons why you should hire a business consultant. Consultants are often the leading experts in the fields they work in, so they will provide you with the best teaching and implementing … Read more
Moody’s has recently lowered Bahrain’s long-term issuer rating by two notches to B1, from Ba2, and maintained the “negative” outlook. Before venturing into how this will impact the Bahrain’s economy, we need to understand first what is meant by credit ratings. A credit rating is an assessment of an entity’s ability to pay its financial … Read more
Running a restaurant business comes with long list of challenges. We regularly get restaurant owners asking us how would installing a POS system would help their business, but they do not want the usual answer of streamlining operations or keeping records of sales. They are more interested in understanding how a POS system would help … Read more
Managing a salon comes with a unique set of challenges. Booking appointments, managing inventory, tracking sales, and scheduling room bookings are all part of the day-to-day activities of a salon. Perhaps one of the most difficult aspects of a salon business to manage however, is the control of consumables used to perform services. Consumption of … Read more
Value-Added Tax (VAT) is coming to the GCC in 2018. This will undoubtedly have a direct impact on business operations across the region. Is your business ready for the change? What is VAT? A value-added tax (VAT), known in some countries as a goods and services tax (GST), is a type of general consumption tax … Read more