Posts Tagged ‘Expenses’
How Entrepreneurs Can Save Money Without Penny Pinching
Small businesses may be making great contributions to the U.S. economy, but their financial health is in critical condition. According to a 2016 JPMorgan Chase Institute study, most small businesses only have 27 days’ worth of money on hand to cover expenses if inflows stopped. Essentially, this means that many small businesses are operating on a…
Read MoreHow to Keep Your Business Insurance Premiums Down
When it comes to business insurance cover it is not wise to start cutting corners in pursuit of ‘cheap cover’ but there are ways to reduce your premiums without sacrificing coverage. The savvy business owners out there will be able to reduce costs without compromising the business. Here are six tips we can offer to…
Read More6 Easy Ways Your Business Can Save Money
Maintaining a healthy cash flow is something every business needs to prioritize. It’s not just something we should be looking at come tax time or end of the year either—reviewing smarter ways to save money is encouraged on a regular basis. Because technology is constantly progressing, the economic advantages are evolving and changing at incredible…
Read More3 Ways You Could Be Wasting Advertising Money
Businesses must rely on good advertising to bring them customers. It’s very difficult to generate organic leads and create a strong brand without it. However, the money poured into company advertising schemes isn’t always well placed. Research from a recent Nielsen survey entitled Digital Ad Ratings shows that billions are being wasted in the digital…
Read MoreHow to Reduce Company Expenses and the Pain of Fixed Costs
Business owners constantly wrestle with the age-old question of how to reduce company expenses. While income fluctuates for most businesses, expenses are something you can exercise some control over. Expenses fall into two main categories—variable and fixed. Typically, variable expenses, as the name suggests, change with revenue. As your revenue increases, you tend to spend…
Read More10 Basic Tips to Reduce Costs and Grow Faster
When you’re starting a business, you want to make sure all your risk factors are under control. The old adage, “It’s better to be safe than sorry,” applies, and that justifies buying that extra computer or hiring a few more people on the team. But once the business gets moving, you have to start looking…
Read More4 Ways Your Business is Wasting Money
To err is human. Many entrepreneurs make mistakes when starting a new company, and that can often result in the downfall of a company. It’s not because they pigheadedly or recklessly jump on a new business idea. Enthusiasm and passion are requirements to succeed. However, small business owners make errors without actually understanding or even…
Read MoreFinancial Mistakes Many Small Businesses Make
Having good cash flow is critical to running a successful small business. It’s how other people will measure the success of your company. But finances can oftentimes be tricky, and it can be hard to manage your small business’s money. Entrepreneurs frequently make mistakes involving their finances, but it does not have to be this…
Read MoreHow the 2016 Overtime Rule Affects Small Businesses
As a small business owner, your largest overhead component, 70% on average, is labor. You might have assumed that, within the bounds of things like the minimum wage, you’re essentially free as a small businessperson to negotiate whatever wage and salary with your employees that you’d like. There are, however, additional requirements that you must…
Read MoreFinicky Finances: Make Sure Your Company is Spending Smart
Maintaining good business finances is a necessary part of running any company, but that doesn’t mean doing so is always easy. Many businesses fail to properly manage their money and in a short period of time have to permanently lock their doors. Instead of succumbing to this pitfall, ensure your company is not spending more…
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