The impact of the COVID-19 pandemic on the world economy is set to be profound and lasting. If you’re a business owner, you might be concerned about how you will stay afloat during these uncertain and worrying times; even the most successful businesses might only be a few wrong moves away from going under. All […]
Expenses
5 Costly Business Expenses You’re Forgetting to Account For
To keep a small business running, you need cash on hand to cover all potential expenses — like payroll, materials and rent. Some expenses, however, tend to slip through the cracks — and may come up at a time when your business isn’t ready to handle them. With the right preparation, you can plan for […]
5 Best Ways to Reduce Expenses Using Tech
It makes sense that a lot of businesses want to make their operations cheaper, especially in times like these. Many people are struggling to make ends meet, and ensuring that you can make as much as possible from your company will always mean reducing its costs. To help you out with this, this post will […]
6 Simple Ways to Cut Your Business Costs
Your business costs can increase by up to 10 to 20 percent per annum. For example, companies can expect the price of their favorite airline tickets to rise after an increase in oil prices. Your supplier can also decide to increase the cost of supplies by 5 to 10 percent. Increases in expenses can make […]
5 Secrets to Better Cash Flow
Fretting over finances and being a business owner go hand in hand. You are probably always asking yourself: what’s our bottom line or how much is our overhead? But the real question you should be concerned about is: how healthy is our cash flow? The founder of Dell, Michael Dell, once said, “We were always […]
Make Sure to Consider These Common Expenses When Preparing Your Startup
You’re almost ready to start your new business. You and your partners have come up with a killer idea for a company that you know your clients are going to love. You’ve even thought about what you’re going to name your brand, and how you can improve your chances of getting your product or service […]
How to Reduce Your Business Costs
Last year saw business confidence plummet in the UK, against the backdrop of Brexit and sustained economic decline. SMEs in the UK were hit particularly hard, with confidence amongst these ventures down by 20% in relation to 2017. As business confidence dwindles, firms are likely to adopt an increasingly conservative approach that focuses primarily on […]
IRS Highlights Credits and Deductions for Small Businesses
During Small Business Week, the Internal Revenue Service reminds small business owners and self-employed individuals to take deductions and credits that will help their bottom line. This year, National Small Business Week is May 5-11. For more than 50 years, the week has recognized the important contributions of America’s entrepreneurs and small business owners. Reviewing […]
Is Your Small Business as Profitable as It Can Be?
There is an excellent chance that even if you’re an expert in your particular industry, you’re probably not an expert in small business finances. This may not seem like that big of an issue on the surface. However, in order to make the best decisions possible for your company, you need to have complete and accurate […]
5 Keys to Minimizing the Burn Rate for Your Startup
Cash flow is a basic survival metric for every startup. Investors check your burn rate to assess your efficiency, and project your remaining runway before you run out of money and into a brick wall. Don’t wait until you are almost out of cash before managing every dollar spent, or looking for the next refueling from investors. Desperate entrepreneurs […]
