Finance
The Secret to a Successful Startup? Focus on Accurate Financial Records
Source: Entrepreneur | Repost QBScott 10/12/2022 – Studies show that many startups are not handling the financial side of business correctly. This is a big mistake that can hinder growth. You might not be very organized with your financial records during the beginning stage of your business or side hustle. Less than half of small…
Read MoreHow to Manage Accounting for Small Businesses
Source: Salesforce | Repost QBScott 8/18/2022 – Small business owners thrive when they have the time to focus on the core aspects of their business. This includes customer service, product innovation, and sales. Administrative tasks such as accounting are necessary, but often have to be prioritized after other duties. However, it’s important that entrepreneurs learn…
Read MoreWhat is a Profit and Loss Statement?
Source: Small Business Trends | Repost QBScott 4/14/2022 – As a business owner, you need to know how well you are generating profits. This type of profit and loss report is one of three financial statements. A p l statement is an important way to see what’s happening financially over time. This is a great…
Read More5 Personal-Finance Mistakes That Kill Promising Companies
Source: Entrepreneur | Repost QBScott 5/21/2020 – For most people, personal-finance mistakes affect only themselves. For entrepreneurs, a personal-finance slip-up can have far-reaching consequences. People who get into tight financial spots while running their businesses must make difficult choices about which bills to pay, which opportunities to let go and which partners to leave. Founders…
Read MorePivoting Your Small Business Model to Survive the COVID-19 Crisis
Source: Worth Newsletter | Repost QBScott 5/7/2020 – There is opportunity in every crisis, and the COVID-19 pandemic has created a crisis for many small business owners that is unlike any other before. The coronavirus has forced governments into enacting what some are calling “the Great Lockdown.” The lockdown consists of closing all non-essential businesses,…
Read More4 Smart Ways to Reduce Costs Starting Right Now
Source: Entrepreneur | Repost QBScott 3/12/2020 – Your sales, marketing, and customer service teams make it possible for your business to succeed with clients, but turning a profit also depends on keeping costs as low as possible. From getting the best price out of your suppliers to cutting waste, there are plenty of ways to…
Read More5 Time-Saving Accounting Tips for Your Small Business
Source: ProductivityLand.com | Repost 10/24/2019 – Running a business is rewarding, but also insanely time-consuming. According to a 2015 Constant Contact survey, over 40% of small business owners say they don’t take vacations, while another 40% say they don’t have enough time to spend with their friends and family. Despite this, an overwhelming 84% of…
Read MoreKeep Payment Processing Fees Low With These Tips
Accepting online payments and multiple forms of payment is the norm for most small businesses today. The few businesses that don’t accept multiple forms of payment are no doubt missing out on additional sales and revenue. We already know that people want to pay for goods and services that offer convenience and value, but it’s…
Read MoreSecrets You Must Know About Taxes When Operating a Business in More Than One State
If your business has grown beyond your state’s boundaries so that you operate in more than one location, this can trigger tax complexities you need to address. Here are some to consider: Business Taxes When Operating in More than One State State Income Taxes If you operate in more than one state, how do you…
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