As a small business owner, you have a wide array of responsibilities. You must make decisions each and every day that have an impact on your business. These decisions you make to grow your business can also impact your personal life through the natural risks of owning a small business. If you’re not careful, you may be held personally accountable for your business’s debts and other obligations. If your small business is located in or near Cincinnati, let Orcutt & Co….

Most business owners agree that the biggest challenge they are facing right now is how to remain profitable. One of the best ways to do this is to find ways to cut costs and one of the first places to look for this is with your waste. Many businesses find that one of the major places they are losing money is through their waste management strategy and not emphasizing recycling efforts. If your business is located in or near Cincinnati, let Orcutt &…

Research from the U.S. Bureau of Labor Statistics shows that approximately 20% of small businesses fail within the first year. This is primarily due to financial mistakes. As a small business owner, it is important to understand that your first year in business will make or break you. Below, we’ll explain 8 of the most common financial mistakes that entrepreneurs make within the first year of business. Top 6 Financial Mistakes Leasing Too Much There are two possible outcomes for this…

You’ve been dreaming of starting your own small business, but you’re drowning in debt and don’t think it’s possible. However, the truth is, personal debt doesn’t necessarily mean that you can’t start a business, it just might take a little more time and effort. If you are in or near Cincinnati and thinking of starting your own business, contact Orcutt & Company. For more than three decades, we have been helping small businesses, entrepreneurs, individuals, and families plan for their financial…

Your number one goal as a business owner should be to ensure the success of your small business. Therefore, you should be able to identify problems and areas where you could make improvements and then enact those improvements. If your business is located in or near Cincinnati, let Orcutt & Co. handle your business finances. We exclusively work with small businesses and believe that accounting shouldn’t have to be complicated. This is why our service model is designed to handle all of your financial…

Most small business owners must borrow the money they need to get started or engage in business-related tasks such as new product testing, acquisitions, and more. Fixed-rate loans are predictable, so you can move your business in the right direction while maintaining control. You may find a need later on to refinance your business debt. In the future, refinancing that business debt will allow you to take out a larger loan to cover the existing debt, as well as new…

On average, approximately 50% of small businesses fail within the first year and 70% fail within the first 10. Of these failing businesses, 82% of the time, the failure stems from small business cash flow issues. Even growing businesses may have cash flow issues, resulting in an inability to pay staff, pay overhead, and keep inventory stocked. When these things are not done, your small business will fail. However, you don’t have to panic. If your business is located in…

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…