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Accounting and Budgeting

11 Posts tagged with the business_finances tag
When is the Right Time to Bring Financial Experts on Staff?
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Posted by: SBOC Team, Feb 23, 2012

by Susan Caminiti. One of the distinguishing characteristics of nearly all entrepreneurs is the passion they bring to their businesses. But whether you’re a skilled butcher, a terrific baker, or the best candlestick maker in town, there are functions of your company that you’ll need help with. And there’s no aspect of running a small business where this is more apparent than your finances. “Money is so personal and that makes many entrepreneurs more skittish about handing over control,”...
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Looking Back, Leaning Forward: How an End-of-Year Budget Review Can Pay Dividends In 2012
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Posted by: SBOC Team, Jan 4, 2012

Out with the old, in with the new—It’s time to examine the past year’s results and craft a fresh budget for the year ahead. “In January, we look at the products or services where we spend our time and from that review we make decisions,” says Lisa Crisalle, who, with husband Lucho, owns Exercise and Nutrition Works, a nutrition certification program in the sports and fitness industry. At the beginning of 2011, the couple made a profitable discovery—the online segment of their business had...
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Payroll Best Practices: What Fits Your Small Business Best?
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Posted by: SBOC Team, Nov 9, 2011

By Cindy Waxer. Most small businesses understand the value of smart payroll practices. But many fail to anticipate the negative impact of this business-critical activity if poorly executed. While a solid payroll system can keep employees happy and the government satisfied, poor payroll practices can create tax-related nightmares, send labor costs skyrocketing, and prompt an employee exodus. Fortunately, small businesses need not invest millions in high-end software programs or...
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When Cash is King: 4 must know cash flow strategies
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Posted by: SBOC Team, Jun 20, 2011

The U.S. economy is on a slow but steady trajectory to recovery. Companies of all sizes are gearing up for growth as increases in spending and other economic indicators underscore a renewed optimism among consumers. Among small businesses, confidence is at a three year high, according to data from Intuit Inc., The National Federation of Independent Business and others. So as a small business owner are you still waiting to feel better?  While the Great Recession may be fading, its legacy...
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Avoiding the Profit/Loss Blues
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Posted by: SBOC Team, May 25, 2011

How small businesses can watch their bottom line more closely by Christopher Freeburn Small business owners quickly learn about the necessity, particularly in this economy, of having a well thought-out business plan, doing the right amount of market research, and keeping excellent records. Good bookkeeping and adherence to proper account forms and standards often distinguish small businesses that succeed from those that fail. Part of the importance of maintaining good financial records...
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Small business payment options: Smarter ways to get paid
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Posted by: SBOC Team, May 23, 2011

Small businesses have gone through quite an evolution when it comes to payment methods they accept. Gone is the cash-only small business. Even sandwich trucks and garment district clothing outlets have embraced the electronic age. Point-of-sale retail locations are increasingly moving toward the latest technologies that allow credit card readers to be plugged into smart phones. And, if you’re doing business on the Internet, online payments and shopping cart services have become de rigeur....
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Bootstrap Your Business: Part II
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Posted by: SBOCTeam-KhWmv, Jul 26, 2010

In this two-part series, we examine how to start a business without a bank loan or venture capital Part II: Family and Friends, Peer-to-peer lending, Future customers By Reed Richardson Family and friends Tapping into your network of friends and relatives is a tried-and-true method for raising money-today, roughly one in ten Americans report having an outstanding loan with a relative or friend. Your friends and family are predisposed to care about your success and so are willing to listen...
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Financing Series: Bootstrap Your Business- Part 1
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Posted by: SBOCTeam-KhWmv, Jul 22, 2010

Part I: Personal Funds, Home Equity, Credit Cards By Reed Richardson Entrepreneurs contemplating a business launch in today’s tight credit markets and scuffling economic climate are often plagued by one overarching problem: How will I finance my business? For a small but growing number of small business owners, who refer to themselves as bootstrappers, the solution lies in fostering a newfound self-sufficiency, one that foregoes traditional sources of business capital like banks and venture...
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What’s the Best Way to Pay My Bills?
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Posted by: SBOCTeam-KhWmv, Dec 2, 2008

Part 1: Checks By Christopher Freeburn Paying the bills doesn't make anyone's list of favorite things to do. But, like it or not, bills come due and must be paid. No one knows that better than small business owners, who face a myriad of bills every month, ranging from office supplies and equipment leases to office rent, insurance, and marketing services. Small business owners not only have to pay their bills, but do so in a way that lets them best manage their company's cash flow,...
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Cash Flow and Accounting
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Posted by: SBOCTeam-KhWmv, Nov 6, 2008

by MOBI.1 Cash fuel drives you in business just as jet fuel keeps a plane aloft. A pilot is very careful to accurately predict the fuel requirements. You should place the same importance on cash flow control because if, at any point in the future, you run out of fuel, like the pilot, you've got a BIG problem. Cash flow control is a simple method of projecting your future needs for cash. It is an income statement covering future periods of time that has been changed to show only cash: cash...
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Divide and Conquer
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Posted by: SBOCTeam-KhWmv, Oct 9, 2007

Keeping your business and personal finances separate makes sense for both you and your company By Reed Richardson Many small business owners view their business as an extension of themselves, an outlet for their drive or creativity. Other small business owners are so busy building their businesses that they have little personal life outside it. In either case, most small business owners have sunk so much time, work, and investment into their businesses that the business's finances may become...
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