In the busy day-to-day operations of running a small business, actively working to boost profits can take a back seat to other management functions. Crunching numbers to make payroll, clear accounts and stay on top of the line is hard enough! But ignoring the importance of the bottom line is perilous to a small business. Commit to investing in beefing …
One of the greatest perks of owning a small business is flexibility. You can set your own hours and salary. You can plot the firm’s trajectory without consulting your boss, upper management, or even corporate policy.
Are your investments gaining in value? Then you’ll want to understand how the capital gain tax works. Here’s a refresher.
If you’re the owner or manager of a small business, you’ve undoubtedly felt the pain of this economy’s ever-so-slow recovery. Demand for your products or services may have dwindled and when revenues are down, businesses need to adjust by tightening their belts.
Most small businesses operate a tight ship. They manage overhead expenses and watch cost of sales to stay on the credit side of the ledger. But when you’ve reached a point where you cannot see any further ways to reduce costs, there could still be an opportunity to increase your profits through increasing productivity.
According to SCORE, 82% of businesses that fail do so because managers have a poor understanding of cash flow. Find out more about our newest way to help our clients succeed, Financial Ratio Analysis.
For many small businesses pricing products and services is more a matter of guesswork than logic. Mindful of competitor pricing, they make the mistake of simply undercutting to win business rather than carefully working out the price they need to charge.