As the owner of a small business, separating your business life from your personal life is a must. One way that this can be done is to draw a bold line between one’s personal finances and business finances.
Dollar signs are a big part of what small business owners see in their eyes when operating a small business. These dollar signs represent both potential income for a company and any expenses it incurs. When there is plenty of money to go around, things are great. However, when money is tight for small business owners, it can be quite challenging.
What if you first decided what profit you wanted in 2014 and then determined the revenues that you needed to generate those profits? What if you started at the bottom of your 2014 profit and loss statement and worked up?
The economy in the past few years has not been kind to businesses owners. Sometimes you can’t cling to idealistic notions of how your business should be run, and hard tactics have to be implemented to ensure the survival of your company.
In an economic climate where a small business may require a massive investment of capital in order to get off of the ground, being able to cut the costs of operations can be a major source of assistance to productivity as well as staying in the black.
If you are wondering whether or not you really need to prepare financial statements when you already know your business is profitable, the answer is definitely yes. You may be convinced that your business is doing fine, but you will need proof for investors, creditors, shareholders, government agencies—and you will also…
As an owner or manager, your responsibility is to review accurate financial statements on a timely basis. This allows you to make good business decisions and spot minor issues before they become major crises. Here are seven easy-to-spot things to look for when analyzing your financial statements.
Most families and small business owners are still unaware on exactly how the rules work when it comes to contributing to a traditional IRA account. So here are a few facts you should know about these accounts almost forty years into the making.
Small Biz Club is the premier destination for small business owners and entrepreneurs. To succeed in business, you have to constantly learn about new things, evaluate what you’re doing, and look for ways to improve—that’s what we’re here to help you do.