Why being a small business can be an advantage to being a big business
Have you ever been in a meeting and learned about a change to a large service provider and were frustrated to hear about the next attempt to get you to fit into a standard box? I recently attended a seminar where I was told that a major bank would make their branches 100% self-service in […]
If you can measure it, you can track results — Budgeting & Forecasting
Balancing the Budget Budgeting and Forecasting is a vital key to business success as the budget is part of the goal-setting process for any thriving company. The forecast helps the business owner understand if he or she is on track to achieve both short and longer-term goals during a set time period. Many businesses have […]
The Tax Benefit that Every Entrepreneur, Inventor, and Growth-Minded Business Leader Needs to Know
The Research & Experimentation Tax Credit is a general business tax credit under the IRS Code section 41 for companies that incur research and development (R&D) costs in the US. In 2015, the US government made the tax credit permanent. This tax credit is an incentive for businesses to engage in R&D and develop new […]
What is a Fractional CFO and What are the Benefits
A CFO is a key advisor to a President, CEO, COO, and the Board of Directors. Often, the Chief Financial Officer is the voice of reason and can help translate exuberance into a realistic financial plan that maps out a successful course for a company. The CFOs are the leaders who measure success and perform […]
Why Does Small Business Fail and How to Prevent It?
It is a sad and hard topic to write about, but it is extremely important to discuss why small businesses fail and what can be done to prevent it. Small businesses fail for a myriad of reasons, most of which can be traced back to inadequate working capital, resulting in the inability to meet their […]
Why Your Small Business Needs a Disaster Recover Plan and How to Build One
Do you need a Disaster Recovery and a Business Continuity plan? The answers to the following questions will dictate what your response must be. Do you have clients? Do you have employees? Are you providing products and services that your customers value? If you answered yes to any of these questions, then you absolutely need […]
How to Finance a Small Business via Equity Investments
Funding a business is very much like gardening. Plant some money, and if the growing conditions are right and you tend your garden carefully, you will reap more money and yield more fruit. However, unlike gardening, locating the seeds (dollars) needed to begin your business is often the most difficult step in beginning your small […]
10 Strategies to Help Small Business Leaders Prepare for Year End
Year end is a busy time of year for finance & accounting staff. It is that time of the year where we draw a line in the sand and take a gauge on how a business performed over the last 12 months. Most businesses run their fiscal year in sync with the calendar year, and […]
6 Reasons Why a Bookkeeping Service Is an Essential Component to a Successful Business
When many business owners begin their companies, especially for the first time, their vision and foresight often falls short of knowing all the elements that are actually required to run a successful business. One of the most common forgotten components in drafting a successful business plan is hiring a talented and knowledgeable bookkeeper. In this […]
How 3rd Party Bookkeeping Services Can Help Small Business Establish Segregation of Duties
Segregation of Duties, also known as Separation of Duties, is the concept of requiring more than one person to complete a task. The purpose of this requirement is to help prevent fraud and mistakes, and the practice is a key internal control for any business. In effect, setting up a separation of duties creates a […]