If you’re starting to think about retirement, it’s understandable if you don’t simply want to sell your business to an outside buyer and walk away. Your business is part of your legacy, and you want to see it continue to flourish and support the loyal employees who’ve helped you build it. But have you created a roadmap for how you will support…
Protecting your company’s inventory involves guarding against physical theft and monitoring inventory record-keeping. A company’s inventory is often one of the largest assets on its balance sheet. Unfortunately, inventory doesn’t always receive the careful monitoring it deserves – often at the expense of a company’s bottom line. In this article, we’ll look at physical inventory theft and inventory accounting fraud and…
Effective cash flow management is key to your business’s long-term success – helping you ensure that you have the funds on hand to cover day-to-day needs, pay for new expenses, or invest in your business. Even if your company is doing well, a slowdown in cash flow can threaten your ability to meet financial commitments and take advantage of critical and…
Equipment financing can be a powerful tool for growing your small business. Whether you’re looking to ramp up production, expand your geographical reach, or enter into a promising new product line, you may be wondering whether equipment financing is the right way to achieve your goals. In this article, we’ll briefly define equipment financing, cover some advantages and disadvantages of this form…
Ensure that everyone on your team understands the importance of working capital and the factors that drive it.
Companies sometimes make the mistake of evaluating their finances based on all transactions – cash and credit-based – at the time they take place, which may overestimate assets in hand and not give a clear picture of the company’s financial health.
When you need business funding, lenders will evaluate your creditworthiness based on 6 key attributes. Doing so gives them insight into how much risk they are likely to take on if they give you a loan and helps them determine just how much money they will lend you. Ready to grow your business? Don’t wait to master these 6 C’s of…
Every year, businesses across the U.S. lose tens of billions of dollars to employee fraud – and accounts receivable departments are a frequent target. Unfortunately, the risk of accounts receivable fraud – or “accounts deceivable” – is especially high for small and midsized businesses, which may handle large volumes of delayed payments but lack the resources and personnel to establish robust…
Peter Drucker, the founder of modern management, once said, “Until we can manage time, we can manage nothing else.” For small business owners, that’s easier said than done. It’s very common for entrepreneurs to work long hours under the pressure of heavy workloads, aggressive deadlines, and the need to grow revenue. But overworking without employing effective time management strategies can lead…
Do you know what your business is worth? The 30 million small businesses in the U.S. are a tremendous force in our economy, and a valuable part of our local communities. But many – perhaps most – small business owners don’t know the true worth of their own enterprises. And that’s understandable. Entrepreneurs have to stay focused on day-to-day operations, and sometimes…
