Companies large and small are struggling in this age of COVID. In Chicago alone, an estimated 4,000 small businesses have shuttered. The Washington Post reports that over 100,000 small businesses nationwide have “closed forever.” And it’s not over yet. Is your business struggling to stay afloat? Before your business becomes part of these alarming statistics, take action with some of the following cost-cutting ideas.
The skillset most managers develop over time often relates entirely to managing in an office. Stopping by a direct report’s desk to check in, scheduling one on one meetings or taking them out to coffee to catch up on their progress. If they have a question about a line item on the Cashflow Statement, you can teach them how to find the answer by walking them through your accounting software and Balance Sheet. Read more
Coronavirus has disrupted the economy, shuttered businesses, and cause major uncertainty for small business owners. For some, it’s been easy to move their business online or continue fulfilling and shipping orders. For others, sales might have dropped, and you need working capital to pay rent.
If you’ve been relying on word-of-mouth, newspaper advertising, and local networking to bring in new clients, it’s time to expand your thinking. The internet isn’t just for selling products; even service professionals like accountants can build their customer base online.
PPC, KPI, if you’re thinking of hiring someone to help market your accounting firm, you might have heard these terms. But what do they mean? There’s no reason for an accountant to find them intimidating because they’re all based on math. Each of them tells a story about how your website and marketing efforts are producing results.
What are your 2020 small business goals? Do you want to increase revenues by 20%, decrease employee turnover, or launch a new product line? While making New Year’s resolutions, you’ve probably either thought of a direction for your business or made a detailed plan.
The first month of the New Year can be slow for a small business, particularly seasonal businesses. While you may be glad for a chance to take a break after the holiday rush, now is a good time to take stock of several key aspects of your business.
Whether you’re setting up your new business for the first time or simply switching financial institutions, choosing a business bank account is an important decision. It can affect everything from how long it takes you to travel to your branch to your business’ cash flow. It’s not a decision to be taken lightly or made based on some temporary advertising gimmick. We’ve all seen those fliers in the mail touting 3 free months of checking or a one-time deposit bonus. As a business owner, you need to look beyond the surface and dig deeper.
It may be the first gorgeous day of fall, but it won’t be long until April 15 comes knocking. Be prepared for next year’s tax deadline by beginning your preparations today. That means, as a small business owner, now is the perfect time to begin organizing receipts, collecting owed payments and deciding on year-end purchases. Do it now, and you won’t have to dread facing it in the spring. And if the task seems too overwhelming, remember – we’re just a phone call away to help you get through it.
If you’re a small business owner struggling to make payments on credit cards and loans you might have been wondering if consolidating your debt would be a good idea. Debt consolidation companies often target those with high balances, sending letters and calling with promises to lower your monthly payments and save you money.