May 2020

How to Write a Business Plan: Creating Your Strategy

by Fitz
May 26, 2020May 26, 2020

How to Make a Business Plan

As a business owner or aspiring entrepreneur, you’ve probably heard this advice plenty of times before: “The first step to success with your business is making a business plan.”

This nugget of wisdom is thrown around a lot for a reason—it works. Having a small business plan does help your venture succeed by giving you a clear path of action.

The problem is that very few people know how to create a business plan effectively. Most write it just for the sake of putting one together.

Let’s change that, shall we? Today we’ll discuss how to write a business plan that leads to success.

Learn How to Manage Payroll for Small Business

by Fitz
May 18, 2020May 18, 2020

How to Manage Payroll for Small Business

Expanding a new business comes with exciting milestones. From increased production to more income, seeing your efforts come into fruition is rewarding. But even though new hires are a great sign of growth, managing payroll for small business staff takes the fun out of it for many business owners. There are forms to fill, taxes to pay, regulations to comply with, and so many more human resources tasks.

But setting up a payroll system for small business hiring is not as daunting as it seems. How does payroll work for a small business? Here’s a guide.

Managing Cash Flow: Strategies & Examples for Business

by Fitz
May 11, 2020May 11, 2020

10 Tips for Managing Cash Flow in Your Business

As the name suggests, cash flow is the amount of cash flowing in and out of your company. It’s an important tool for diagnosing a business’s financial health.

Positive cash flow is when the money flowing into your business from sales, accounts receivable, etc. is more than the amount leaving through accounts payable, wages, and other expenses, while a negative cash flow means your outflow is greater than your incoming cash. This usually means trouble for any business.

If you’re wondering how to handle cash in a small business, here are some cash flow management strategies to make sure you stay in the positive zone.

by Fitz
May 7, 2020November 17, 2020

Business Line of Credit Rates Explained

As start-ups and small businesses work to find their rhythm, the struggle to manage cash flow, fund day-to-day operations, and take advantage of new opportunities are common. Sometimes, this may necessitate taking out a loan to supplement cash reserves.

A secured business line of credit is an ideal lending resource that allows businesses to draw this capital when they need it. However, small business line of credit interest rates are something to watch out for, with the average interest rate on a line of credit ranging from 5% to over 20%. Here are some things you should consider if you are looking to keep your line of credit fees low.

Small Business Accounting Tips: How to Manage Your Accounts

by Fitz
May 4, 2020

The Best Small Business Accounting Tips

Keeping books for a small business is not something most owners look forward to. And yet, without sound and responsible accounting practices, no company can expect to survive for long.

Only those that are able to learn how to maintain books of accounts for small businesses can allow themselves to focus on the fun parts like promoting your business, designing your brand, and making sales.

But what’s the most critical bookkeeping advice for small business you should know?

Let’s break down the top accounting tips below.