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 […]
Expenses
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 […]
5 Ways to Tackle Debt in Anticipation of a Large Purchase
Investing money into a large expense, such as opening a business, can seem impossible if you have any sort of debt. Lenders may require your debt to be paid off in order to finance these types of expenses. Fortunately, if you need to finance a large purchase or expense, you can take several steps toward […]
Top 5 Necessary Investments for Your SMB
When it comes to making investments in your small or midsized business (SMB), you know you need to spend wisely. After all, you’ve only got so much cash on hand. As the marketplace evolves, though, you may not be sure where to put those hard-earned dollars. Here are five necessary investments most SMBs should consider. […]
10 Best Cost Cutting Ideas for Small Businesses
There’s no point in sugaring coating this: running your own business is hard. Very hard. According to FastCompany, after the first 5 years, only about half of all small businesses in the US make it to the 6th. Small businesses are constantly squeezed by increased expenses, making controlling costs more important than ever. Below are […]
Contractor or Employee? 7 Things to Consider Before Leaving Your Day Job
Being your own boss sounds great, right? Make your own hours, nobody to tell you what to do, no more office politics. While being an independent contractor, such as a consultant or freelancer, can offer many life-changing benefits over a regular day job, you might want to think twice before you take the plunge. Here […]
9 Actionable Tips for Small Business Budgeting
Balancing a budget is rarely simplistic. But a business with a budget is a business with a goal. A budget gives your business guidance, clarity, and focus. It gives you the ability to know where your company is and what the future holds if each piece connects properly. The challenge, of course, is that you […]
5 Useful Accounting Tips for Small Businesses
Unless an individual is an accountant or really enjoys working with numbers, then accounting is not a favorite task. Nonetheless, adopting certain good habits in the early stages of your small business can assist in averting major ones later on. After completing incorporation of your new small business, it is essential to have processes and […]
