With the end of financial year beginning to loom large on the calendar, you might be considering whether June 30 is an opportunity to raise your prices.

But how do you know your business is in a position to increase what it charges for products or services? Well determining that isn’t as tricky as it sounds, and too often business operators wait too long before charging the right rate for their work.

Here are the signs it’s time for a price rise and tips on how to go about it.

You have more work than you can handle
You have not raised prices in awhile
The quality of your offering warrants it
The market gives you the go ahead