Solid cash flow management is vital to ensuring your business survives, but not everyone understands what cash flow is or how to manage it. That’s likely what makes it a leading cause of stress for small business owners. In fact, a Capital One study found that 42% of small business owners say cash flow management […]
If you ask 100 business owners what they like least about running a business, chances are good that bookkeeping will rank high on the list. It’s an annoying and frustrating chore that takes up a lot of time and is easy to put off until tomorrow. Avoiding your bookkeeping is dangerous, however. Not knowing your […]
Too many businesses fall over because the owner has not established efficient business systems. This typically happens because the business owner is so caught up in the day-to day running of the business that the fundamentals of good business management get forgotten. Often too it must be said that the owner simply doesn’t like bookkeeping […]
Hiring an accountant is widely considered best practice for small business owners. But delegating financial analysis and reporting doesn’t mean completely checking out of the process each month or quarter. On the contrary, it’s recommended that business owners work closely with their accountants throughout the year to better understand their financial position, and make smart […]
Read More… from 6 Essential Accounting Terms for Small Businesses
Financial security, whether that’s for a business or an individual, requires planning. You need to know where you want to be, where you are now, and how to cross the gap between the two places. Having goals and a plan makes it more likely that you’ll achieve financial security–whatever that means to you. Here are […]
Many entrepreneurs believe that hard work and dogged determination are all it takes to build and sustain a successful business. But when you consider the pressures of running a company, it seems wise to add effective stress-management to the list. Left unchecked, stress can erode your passion and undermine performance – not to mention, take […]
Read More… from Main Causes of Stress for Business Owners & How to Counter Them
In the unpredictable world of startups, maintaining a cash surplus can be a lifesaver. It provides a safety net in case sales don’t meet expectations or unexpected expenses arise. Aside from providing security, surplus cash also paves the way for expansion opportunities, handling large bills, or purchasing essential equipment. While injecting personal capital or taking […]
Read More… from Effective strategies for boosting your startup’s cash flow