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Business owners examine stock changes as they explore the macroeconomic factors that impact their business.

What Macroeconomic Factors Impact Your Business? 

By Business Advice

Small business owners face many challenges related to internal needs, including hiring and leading a productive workforce, driving revenues, managing expenses, and dealing with day-to-day operating issues. However, it is also important for each owner to research and pay attention to macroeconomic factors that impact their business.  What is Macroeconomics?  Macroeconomics is the aspect of economics that studies the components and behaviors of an overall economy, including markets, businesses, governments, and consumers. It considers what causes economic growth or decline…

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A business owner is exploring a few useful technology solutions for your business.

9 Useful Technology Solutions for Your Business 

By Business Advice

Small business leaders typically have a lot of hats to wear and many challenges to face. Thus, it is important to know that technology solutions for your business can lift some of the burdens from your shoulders and significantly help your business thrive and grow. It can easily be said that adoption of technology solutions is no longer an option but rather a necessity.  Technology Use is Rising in Business  The U.S. Chamber of Commerce reports that 95% of small…

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A small business owner works on financial documents.

6 Financial Documents Your Small Business Needs 

By Business Advice

It is likely that no small business owner has ever started his or her business by thinking about the documentation that would be required. However, financial documents are critical for a small business owner to understand the financial health of the business to enable it to reach its long-term goals. Financial documents are intended to tell the honest truth about a company’s financial reality.   What Are Financial Documents  Financial documents are key financial statements and other documents that provide a…

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Business owner on computer with fraud alert warning employee fraud awareness

What You Should Know: Employee Fraud Awareness

By Business Advice

Fraud is a nasty word and it’s a serious matter for U.S. businesses in virtually every industry and in companies large and small. A study on corporate fraud by Professor Alexander Dyck reported that 40 percent of public companies were found to be committing accounting violations and 10 percent were found to be committing securities fraud. Employee fraud awareness is important for business owners and employees alike for the good of your business.  According to a 2022 report from the Association of…

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Small business owner presenting financial statements to stakeholders

12 Tips for Presenting Financial Statements to Stakeholders 

By Business Advice

Financial statements are an essential part of every business’s success. But business health and success require more than just having financial statements. They need to be deeply understood, accurately prepared, actively used, and appropriately shared. As celebrated investor and financial guru Warren Buffet has stated, “You have to understand accounting and you have to understand the nuances of accounting…how to read and interpret financial statements.” Properly preparing and presenting financial statements requires careful forethought and skill.  What Are Financial Statements  Financial…

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Innovation, adaptability, and customer satisfaction in business success

Innovation, Adaptability, and Customer Satisfaction in Business

By Business Advice

In today’s ever-evolving business landscape, we see businesses pop up and close down within a short period of time. This can make a new business owner skeptical about opening a new business. However, there are three keys to success: innovation, adaptability, and customer satisfaction. These factors are intricately linked and play a critical role in determining the long-term viability of a business. Orcutt & Co. can help you stay on top of your small business finances. We are a small…

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staying compliant small business accounting practices

Staying Compliant: Small Business Accounting Done Right

By Business Advice

One of the hardest things to do as a business owner is to keep up with the latest legal requirements and accounting standards. The penalties for non-compliance can be crippling for your business. Therefore, it is critical to ensure that you’re staying compliant and honest in your financial reporting practices. Unfortunately, these legal requirements can sometimes be difficult for the average person to keep track of, especially when it comes to expense management. Therefore, it’s a good idea to have…

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Offer stock options for your small business

Should Your Small Business Offer Stock Options?

By Business Advice

If you’ve recently started a new business or you’re considering it, you should note that running a business involves a lot of activities that require the assistance of capital. If you don’t have capital funds, you don’t have a successful business. Therefore, if you don’t have the funds yourself, you may need to look for outside capital, such as deciding to offer stock options. You can obtain outside funding from investors in exchange for stock options in the company- but…

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Storing business receipts accounting bookkeeping

8 Tips for Safely Storing Business Receipts

By Business Advice

As a business owner, if you want your small business to run smoothly and efficiently, you must have a good organizational system in place. One of the biggest challenges when it comes to organization in a small business is storing business receipts. In order to keep track of your spending, file taxes properly/accurately, survive an audit, and monitor your financial health, it’s critical to find the system that works for you. You may find that it’s best to hire an…

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Ways your business can save money

Top 7 Ways Your Business Can Save Money

By Business Advice

As a small business owner, it’s important to find ways you can maximize profits while minimizing expenses. Nearly everyone will offer their advice on how your business can save money. While many of these things are obvious, there are also several things you can do that are more obscure. If your business is located in or near Cincinnati, Ohio, Orcutt and Co. can keep your finances in order. We specialize in payroll and tax prep, as well as monthly accounting and…

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