Most small business owners stay focused primarily on sales, leaving their financial position to chance. According to the Small Business Report, 60% of small-business owners feel they are not very knowledgeable about accounting and finance. Further, owners who do have accounting skills are mostly stretched too thin addressing other areas of the business. Hiring an

Maintaining healthy cash flow is a daunting task for even the savviest business owners. With poor cash flow management, it only takes one small downturn to cause your business to close shop completely. Fortunately, there are steps you can take to increase your cash flow and avoid potential problems. Here are the best practices that

For small business owners and startups, cash flow often becomes a hurdle that keeps them from achieving their full potential. Part of the struggle stems from tight margins, and at times from a smaller client base, which ultimately means fewer cash flow channels. According to Intuit’s 2019 State of Cash Flow Report, nearly two-thirds (69%)

Automation is changing the way the world conducts business. It provides businesses with tools that speed up operations, streamline functions, and enhance productivity. The end result? Improved efficiencies and profitability that businesses can’t afford to miss. Effective integration of tools and applications can help small to mid-sized businesses achieve high growth goals without exhausting their

Growing small businesses often reach an internal tipping point when they need a CFO to handle financing strategies, budgets, and be the sounding board before big decisions are taken. However, small businesses typically can’t afford a full-time CFO and often don’t need one either. But given that 82% of business failures are due to poor

As a business owner, it can be a daunting task to determine the perfect financing option for the growth of your small or mid-sized business. Let’s dig into the top five ways of financing: debt, equity, and the latest alternative financing options: crowdfunding, peer-to-peer lending, and corporate cards. Types of Financing Options Available 1. Debt

Want to grow your business? Good business credit is the key to getting funding for your venture, but establishing a positive business credit history does not happen overnight. Here are the top three ways to make your business creditworthy. 1. Maintain a Healthy Business Credit Score Your personal and business credit history is an important

For various reasons, many small and mid-sized businesses don’t budget. A staggering 61% of small businesses didn’t create a budget in 2018 and around 82% of startups fail just because of cash flow problems. Below are five reasons why budgeting leads to financial stability and success of your business. 1. Predicts cash flows and avoids

Accounting and bookkeeping together form the backbone for financial operations. However, it is no longer enough to continue focusing on hardcore accounting or bookkeeping chores; businesses are increasingly looking for additional value with the solutions they seek. According to an online survey, 72% of small business owners switched their CPA or accounting firm because they

Imagine doing business without the knowledge of whether the efforts and investment spent are of any use at all or not. Ratios are vital to business, to measure growth or any advancements from its starting point. Here are some ratios that are essential to a small business growing rapidly into a mid-size one: Efficiency Ratios