Building and Managing a Business Emergency Fund
In the challenging and often unpredictable landscape of business, an emergency fund stands as a pivotal element of financial prudence. For small and medium-sized enterprises (SMEs), it represents more than a mere savings account; it is a strategic tool crucial for long-term stability and resilience. In this comprehensive guide, we will delve into the nuances […]
Credit Card Processing Fees Guide for Small Business Owners
In today’s digital age, accepting credit card payments has become a necessity for small businesses. However, along with the convenience of card payments, comes the reality of credit card processing fees. These fees, charged by payment processors and card networks, can have a significant impact on a business’s bottom line. Therefore, small business owners must […]
18 Tax Planning Strategies to Save on Business Taxes
Entrepreneurs often need to wear different hats. Juggling the many ups and downs of running a small business is time-consuming. A vital but often overlooked function, strategic tax planning, can slip through the cracks. Over time, this can eat away profits and slow business growth. To prevent this from happening, entrepreneurs need to understand corporate tax planning […]
Purchase Order Financing Guide: Pros & Cons
Businesses that operate on inventory might run into situations where customer purchase orders are yet to be fulfilled while invoices remain unpaid. This leads to a cash flow problem that puts businesses in a bind. In such scenarios, purchase order financing can be an intuitive funding option that can foot inventory purchases. This form of […]
6 Tips To Build Your Business Credit Fast
Business credit is one of the most important determinants of your firm’s creditworthiness. Having a favorable business credit score can not only fetch you good rates on financing plans but also provide you with better insurance options. Suppliers, too, rely on business credit to assess your firm’s reputation. For new and budding business owners, building […]
4 LLC Tax Advantages and Classifications For Your Business
The foundation of a successful business is making the right decision at the right time. One of the foundational choices that an entrepreneur has to make is deciding how to register their business. They can choose between sole proprietorships, general partnerships, corporations, and limited liability companies (LLCs). Business owners figuring out how to manage their finances should […]
Recourse vs. Non-Recourse Factoring: Pros and Cons
Financing is often an integral part of successful business strategy, especially for small businesses looking to scale their operations. As a matter of fact, 43% of small businesses applied for a loan in 2022, with a sizeable 66% of their applications receiving approval. However, loans, much like other conventional forms of financing (be it equity or debt […]
Manufacturing Accounting: A Guide for Manufacturers
Unlike retail and service-oriented operations, manufacturing businesses face a special set of challenges regarding accounting and costing methods. Manufacturing businesses need to maintain a close watch on their books to ensure they generate the required amount of profit relative to their costs since they create products from scratch. The process can become complicated and often […]
5 Negative Effects of Inflation on Business: How to Adjust
It’s impossible to turn on any television or radio news program today without hearing the dreaded word discussed by economists, politicians, and leaders worldwide – Inflation! Consumables are more expensive, interest rates are high, and the cost of living is at its peak. We have all seen and heard the numbers as the experts weigh in. […]
YOY Formula: Calculate Business Year-Over-Year Growth
Year-on-year growth is one of the most important metrics for businesses looking to review their performance over a defined period. Not only does it remove seasonality from the picture, but it also allows you to standardize your metrics and look at hard data without worrying about variable factors and tweaking the numbers. Knowing how to […]
