One of the most terrible things to happen to anyone is bankruptcy. If you find yourself in such a situation and are wondering what will happen to your bank accounts, and retirement accounts, on filing for bankruptcy, this article will throw some light on it. Type of bankruptcy and its effect on financial accounts Basically, […]
Financial Management
The Biggest Business Mistakes New Business Owners Make
New business owners are naturally excited about getting up and running. If you’re a new business owner, then kudos to you. You’re doing the hard work necessary to put yourself and your family on better financial footing. But along with the enthusiasm for your new business comes the possibility that you will make mistakes. Minimizing […]
3 Things You Need to Know About CD Investing
A certificate of deposit (CD) is a federally insured savings account that has a fixed interest rate. Typically interest rates on CD accounts are higher than a savings account, which means you’ll make more money. What’s different about a CD is that there’s a fixed date in which you can withdrawal the funds, also known […]
How Small Businesses Can Address Debt
Businesses of all sizes and types power the global economy. Many of them are small, independent and built by people with little more than a vision and hard work. However, per data from the Bureau of Labor Statistics (BLS), half of all small businesses don’t make it beyond five years, and organizations that make it […]
4 Tips on Retirement Planning for Small Business Owners
Are your retirement plans in order? If not, we invite you to consider these 4 tips on retirement planning for small business owners: Don’t Let Your Business Be Your Only Retirement Plan CNBC reports on a survey with results indicating that 78 percent of the polled business owners had plans to fund their retirement by […]
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 […]
How to Get Your Business Out of Financial Trouble
Any business can encounter problems. It happens. It doesn’t matter how big or successful you are, whether you are a startup, a big player or even if you rule the whole market place, things can go wrong. You might find yourself in a cash crunch, struggling to pay bills, or even payroll. It could be […]
3 Most Efficient Ways to Set Up Your Business’s Financial Systems for Success
Your financial system should be as precise as the grooves in a vinyl record. A solid financial system includes components like your accounting software, purchase approval process, receipt collection process, system for budget creation, and even your point-of-sale (POS) software. These are just a few examples; anything related to handling finances is part of your […]
8 Money Intelligence Habits Used by the Most Successful CEOs
Having good control of your finances as a startup, and even as a seasoned businessperson, is what really translates into success. No matter what happens, you never want to be lazy in that area. Wherever you are in your finances is where you are in your business. That means a successful startup requires you to […]
