There are certain rules for keeping and courting clients, one of which is professionalism. Clients are more likely to work with you if your small business gradually builds a more reputable image. But this just segues into another question: What exactly makes a company professional? There’s a sleek website, active social media presence, punctuality, but […]
Tips For Business Financials
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Budgeting is without a doubt one of the most boring and tedious tasks of running a small business. This is partially because something so important should logically be at least a little exciting, and you don’t reap the benefits of sticking to a budget until much later on. These benefits, however, are quite plentiful as […]
A small business cannot grow without proper budgeting, which is one of the most annoying and, unsurprisingly, most frequently neglected responsibilities of business owners. But you must know where you stand from a financial standpoint in order to avoid unforeseen pitfalls and pursue lucrative opportunities. Should one such opportunity could involve, say, a small business loan, […]
Many small business owners believe that data tracking is a key ingredient for success. By keeping tabs on progress and performance, you can distinguish what’s working from what isn’t and make informed decisions about how you use your time and money in the future. But data tracking isn’t as simple as merely calculating different amounts, […]
Common sense tells you that businesses that earn more money end up spending more money. But if this is the case, wouldn’t these businesses eventually run themselves into the ground since it should only be a matter of time before cash flow becomes dangerously unstable? It seems logical until you remember that the main purpose of expansion is not only increasing revenue but decreasing spending in several departments as well.
Most people would be shocked to learn that there are tremendous benefits, yes, benefits, to being in debt. You see, business debt can be broken down into two types: manageable and unmanageable. The latter refers to debt you are struggling to pay back without endangering the survival of your business, whereas the former refers to debt you can safely chip away at on a regular or monthly basis as if it was just another automatic function of your business akin to producing quality products or services.
The first steps small business owners take after deciding they could use a business loan includes checking their credit score, preparing a business plan and searching for the most reputable lenders in their industry.
As the year quickly comes to a close, small business owners are already a step ahead of things by considering all the ways they can reduce their taxes by taking deductions and using smart tax tips. Nolo estimates that the average savings can add up to as much as 43% of your earnings, which can drop your business into a lower tax bracket. But, where should you start when there are so many opportunities to reduce your tax liability?
Running a business comes with a variety of expenses that only arise when business owners decide it’s time to cement their reputations as serious competitors.
Tax season is tough. Especially for small business owners who don’t have the luxury of simply inputting W2 information into Turbo Tax.