Business Best Practices

Cash flow is the lifeblood of any business. Regardless of how innovative your product is or how many sales you generate, if there’s not enough cash available to cover day-to-day expenses, your business could quickly find itself in trouble. Managing cash flow effectively ensures your company remains financially healthy and resilient during economic ups and downs. Here’s a comprehensive guide to help you properly manage your business cash flow. 1…. Read More

« Back to Business Best Practices Retirement is a milestone many business owners dream about—but selling or transitioning your business isn’t just about handing over the keys. To ensure a profitable exit, it’s essential to increase your business’s value before you step away. Whether you’re planning to sell to a third party, transition to family, or install a management team, enhancing your business’s worth will make the process smoother and… Read More

Small businesses are feeling the pinch. When consumers find that their dollars don’t buy as much as they did when inflation rates were low, they are forced to pick and choose what they spend their money on. To pay for essentials, they often cut back on entertainment, travel, sporting events, personal care services, and other nonessential items. They may postpone buying autos and big-ticket household items such as refrigerators and… Read More

By regularly reviewing certain financial indicators, owners of small businesses can better identify potential issues and determine if their companies are on a growth path. Here are four financial indicators that can reveal much about the financial health of a small business. Cash Flow Cash is critical to the functioning of every business, regardless of size. You should be concerned if your cash flow is insufficient to cover expenses because… Read More

Running a small business comes with a multitude of responsibilities, and one crucial aspect is managing taxes. Small business owners often find themselves grappling with the complexities of the tax system, from understanding different tax obligations to maximizing deductions. In this article, we’ll delve into the world of small business taxes, offering insights and tips to help entrepreneurs navigate the tax landscape more effectively. Different Types of Small Business Taxes… Read More