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,”...

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...

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...

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...

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,...

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...