When it comes to running your business, you may take the approach that handling as much as possible in-house is the way to save cash and “be lean.” But, many business owners find that it can be incredibly challenging to take on all of those additional duties, which might range from IT functions to filing taxes to payroll. When it comes to handling your company’s full range of accounting services, you might be able to handle these internally for a…
The CARES Act has opened the floodgates to free money for busineses Below are the basic details of loans available to businesses. They are incredible unless regulations apply limits: This new law lets any business borrow 2.5 months of payroll, benefits, interest on loans and lease payments. The loan is made through a bank that is an SBA approved lender and is guaranteed by the SBA. Loan Is nonrecourse to the borrower. The loan is forgiven if you don’t cut…
A lot goes into owning and operating a small business. It’s for those who dream, yes, but it’s not for the faint of heart. Among the many necessary business functions are the production of goods or services, marketing, sales, human resources, and accounting. Each of these has a connection to finances and there are two key truths about finances. First, you can’t be casual with finances. And second, personal and business finances, like oil and water, don’t mix well. To…
Innovative marketing, quality products and services, and soaring sales are all factors in measuring the success of your business. But who makes that level of success possible? The answer is happy, dedicated employees who are committed to your company’s mission and values. Your employees are the foundation of your operation. If they aren’t satisfied, your business will suffer. But, if they are engaged and feel supported, they’re more likely to be dedicated to excellence, and you’ll attract even more high-quality…
With a brand new year upon us, getting your company in shape for success begins with cash flow. For any business offering seasonal services, such as construction, home remodeling, or landscaping, work slows down during the cold months. This makes cash flow planning especially important. If you don’t have a positive cash flow, you will have difficulty financing your operations, paying your vendors, or meeting your payroll when business starts to slow down. The Importance of a Cash Flow Statement…
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