Small businesses that needed to make or receive international payments had to deal with high costs, extensive paperwork, and long processing times until not so long ago. This was when access to the institutional foreign exchange market limited to banks, governments, and large businesses. Now, technological advances have ensured that small and mid-sized businesses can […]
Saving Money
Why Every Business Owner Should Have a Rainy Day Fund
Even if trading is very successful for your business, you can never be too sure of what dangers lie ahead. If your sales begin to dry up, running costs skyrocket or an unexpected expense messes up your balance sheets, it pays to have a little insurance. To weather a coming financial storm, consider setting up […]
4 Proven Ways to Reduce Your Business Energy Costs
As an entrepreneur and business owner, you know it’s not simple: you always need to keep the organization and productivity flowing in the workplace, create a teamwork-driven environment, collaborate with your employees, and so much more. But as you’re checking things off the list to constantly take care of, do your energy costs come up […]
4 Easy Ways Your Small Business Can Reduce Monthly Expenses
For some small businesses, revenues can fluctuate from month to month. A month of feasting can suddenly give way to a month of famine. And though it’s admittedly not easy to control revenue flow, you have some power over monthly expenses. When you’re a small business owner, you probably can’t put the firm on autopilot […]
6 Important Ways to Save Big Bucks When Building a Website
Building a website is like building a house—you have to have a budget. When that budget is tight you have to decide how to make your money give you the best results. There are plenty of systems that let you design and build your own website. If you’re thinking about building a business website, the […]
Are You Wasting Valuable Resources in Your Digital Marketing?
If you believe that you’re not wasting resources on digital marketing, I have a surprise for you! Most surveyed marketers say they cannot prove the ROI (return on investment) for their digital marketing efforts, particularly on social media and content marketing. Oh no, you say! Sorry to break bad news, but TrackMaven’s Marketing Leadership Survey: Strategy, Technology, and Data-Driven Management 2017 demonstrates that the biggest challenge for […]
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 […]
5 Free and Easy Ways to Promote Your Small Business Today
TWENTY MINUTES. THAT’S ALL YOU NEED. Ten minutes to read this blog. Ten minutes to carry out one of the five actions below. Time: twenty minutes. Cost: zero. Not too much to promote your business is it? OK, so let’s get on with this. Tell One Stranger You Meet About Your Business In a supermarket […]
Company Savings: How to Find Deals on Business Equipment and Materials
Every dollar you save in business is one more dollar you don’t have to pay for. Earning revenue has a cost (sales, time, advertising, rebates, etc.) so being able to get the result of keeping some of it is incredibly beneficial. The question for many is how can one find good deals on necessary items […]
5 Tax Saving Tips Most Small Businesses Don’t Follow
Taxes are one of the biggest burdens facing small businesses. According to the Small Business Administration, many small businesses pay effective tax rates near 30%. Many financial experts argue that high taxes are killing small businesses. “The truly wealthy people pay nothing in taxes compared to me,” said Michael Fredrich, the owner of MCM Composites. […]
