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…
While it’s true that receipts are a pain and can get out of control quickly, it’s important to understand that as a business owner, you must save the receipt from a transaction. This ensures good recordkeeping. However, you’re probably wondering what receipts you need to keep and for how long. We will answer these questions below. If you have a business in Cincinnati, let Orcutt & Co help with your accounting, payroll, bookkeeping, and tax prep duties. We can help…
For today’s businesses, one of the biggest challenges is to attract employees and retain a skilled workforce. In this article, we’ll explain 5 tips for attracting and keeping employees for your business. Since these tips increase employee satisfaction, it will lower your recruiting costs and improve the productivity of your company. Today’s younger workers have a very different attitude about work than the older workers who are nearing retirement. Therefore, employers are facing more and more challenges with finding skilled…
All across the world, as business leaders consider the future of work, evolving skills, and the talent shortage, succession planning is being added to business agendas. No matter what size a business is, unless there are good people in place, it will not achieve the performance expected to meet business objectives. If your business is located in Cincinnati, Orcutt & Co. can help you with accounting, bookkeeping, and payroll services. We can also help you with your succession planning- it’s never too early…
Owning your own business can be one of the most rewarding journeys you ever start and most people would agree that they want to make a difference- they want to leave behind a legacy. Unfortunately, sometimes your business growth plateaus somewhere between start-up and profit. There is little that is more frustrating than working like crazy and not getting out what you are putting into your business. It’s important to understand that it’s common to invest in the beginning- but…
As a business owner, your days are full of many tasks that help ensure your business stays on track. When you do finally settle down at the end of the day, the last thing you want to do is go over your financials- but even so, it’s critical that you monitor your financial statements because they can help you predict whether your business is on track and profiting or if you are on a downward spiral. Your statements contain information…
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