When you are starting a small business, it’s important to have a professional small business accountant in place to handle your finances. This can help you ensure you have a handle on your finances and avoid many of the mistakes that small businesses often face. If your small business is based in or near Cincinnati, consider partnering with Orcutt & Co. We offer several service plans to meet your needs. Our plans are designed with you in mind. We can handle…
As a small business owner, it would serve you well to understand that nothing is given to you- instead, you must earn it. You will quickly learn that it’s challenging to be an entrepreneur, but if you have a great product/service and are passionate about your business, eventually the world will love it too. Perhaps you’re not seeing growth as quickly as you’d like. When you started, you expected to grow rapidly, but you are not meeting your goals. On…
Business accounting provides small business owners with a way to track their liabilities and expenses- which both represent an outflow of funds. An expense is incurred in the current period to generate revenue, while a liability is a financial obligation that will be settled in the future. If your small business is in or near Cincinnati, let Orcutt and Co. handle your small business finances. We specialize in day-to-day bookkeeping and accounting tasks, as well as payroll and tax prep. We…
One of the first things you must understand about starting a small business is that it will take 6 months to 1 year to start making a profit. When you do start making more than you’re spending, you should do more than celebrate. Explore the options to invest profits back into your business. For small businesses in or near Cincinnati, Orcutt & Co. is here to help you with the financials of your small business. We specialize in day-to-day accounting and…
Your finances are one of the most important elements of your small business. If finances are not handled well as a top priority then you will see negative results either immediately, or as time passes. On the other hand, quality management of your finances can help you make the best decisions for your business, and even help you see ways that you can increase profits. One way you can manage your business’s finances well is to set strategic accounting goals….
How to Manage Your Small Business Cash Flow Did you know that 82% of small businesses fail due to poor management of cash flow or a poor understanding of how cash flow affects the survival of the business? As a business owner, it’s important that you understand small business cash flow management is critical. When you understand how money is coming in and going out of your business, you can make better decisions and understand your financial health. While it can be…
While it’s true that financing is great for accelerating the growth of your business, it’s critical that you approach it properly. When you understand how to properly treat business debt, it’s a great way to grow your company. On the other hand, if used poorly, debt can harm your business. It’s important that you understand the difference between good and bad small business debt and understand how you can use debt to your advantage. If you have a small business…
In a recent study by the Brookings Institution, Cincinnati was listed as one of the top five cities in America that have proven how communities can “rewire” their current economic system, effectively generating inclusive growth. Cincinnati’s economy has become a model for other cities due to this. In their study, the Brookings Institution focused on efforts across the United States, in the following cities: Cincinnati, OH Akron, OH Birmingham, AL Paul, MN Syracuse, NY All of these cities have taken steps…
In the wake of the COVID-19 pandemic, there has been a significant shift in business culture. It has caused more companies to shift to more hybrid and even fully remote work environments. It has allowed companies to re-evaluate their priorities and create environments that allow their employees to feel engaged and productive, whether at home or in the office. If your small business is located in Cincinnati, consider hiring Orcutt & Co to handle your accounting, bookkeeping, payroll, and tax prep tasks. This will allow…
Even when new workers are needed, small businesses with cash flow issues often hesitate to hire because there are so many costs of hiring. Some business owners mistakenly think that the cost of hiring a new employee is their salary. However, there are other costs of hiring, including recruiting, training, and more. In this article, we’ll go over the various costs of hiring new employees. Let Orcutt & Co handle your accounting, bookkeeping, payroll, and tax prep for your Cincinnati-based business. We…
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