You can’t get through the news these days without hearing about inflation and how rapidly it’s increasing. Rates were generally low for quite some time and we all got used to it. Suddenly, however, everyone is getting squeezed by inflationary pressure. But what exactly is inflation, and how does it affect the money you have …
What is inflation and how does it affect my savings? Read More »
Inflation has ballooned worldwide in recent months, and there’s no question that small businesses are feeling the pinch. Supplies cost more, employees are hard to find, and your profits are shrinking. It’s undoubtedly challenging, but you can weather the storm with the following tips. 1. Study your data Your numbers are always helpful, but in …
7 tips to help your small business adjust for inflation Read More »
When to Raise Your Prices: Five Things to Consider It’s inevitable in every business – you must raise your prices to continue making a profit. Many factors go into deciding how much to charge, all of which are dynamic. The rising cost of goods, inflation, and a changing market are just a few reasons why …
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Nobody wants their business to fail. Although it’s impossible to predict the future with 100% accuracy, a cash flow forecast is a tool that will help you prepare for different possible scenarios in the future. In a nutshell, cash flow forecasting involves estimating how much cash will be coming in and out of your business …
You make decisions every day for your business. The business that are successful long-term make those decisions with detailed data to back each one. This comes from financial reporting, marketing analytics, data from your CRM, and many other sources. As a small business owner, you’re likely managing your financial reporting and accounting yourself whereas many …
CFO vs Controller: What Do They Do and Which is Right for You? Read More »
As a small business owner, you may be juggling many different tasks and responsibilities. You are likely the CEO, CFO, HR manager, IT guru, and more. It can be difficult to keep track of all the financial data that is necessary for your company to operate successfully. In this blog post we will cover 6 …
6 Financial KPIs Your Small Business Should Know Read More »
When you start a small business, you are usually behind the whole operation. You wear many hats, from CEO to clean-up crew. As you pour your heart and soul into your business and it begins to grow, the amount of work involved grows. Because a small business focuses on survival, you pay much attention to …
Most small businesses handle all of their bookkeeping procedures internally but that’s not always the best practice. Keeping the books yourself can be a stressful task that requires valuable time and attention that could be spent in ways that grow your business. If you’re thinking about hiring someone else to run your books for you, …
In today’s marketplace, it is very common for a business to extend credit to its customers. Extending credit is a great way to reach a segment of customers that may not have the cash flow to pay the full cost of a product or service upfront. It can be a great way for a business …
Congratulations! You have taken a bold step and decided to open your own business. Like many of those before you, you are filled with excitement and can’t wait to serve your first customer. There is only one problem, you don’t know where to begin, but don’t worry, we’re here to help. Before you start your …
