Fundera

JANUARY 23, 2017

As a small business owner, you have a lot of weight on your shoulders. How you manage your small business is a key determinator of your success. Whether that’s managing your employees, your company’s finances, your business’s roadmap, or simply your daily tasks—your small business management decisions matter. To get a glimpse into how other entrepreneurs approach small business management, we asked 30 of your fellow small business owners: “What’s your best small business management tip?”.

Small Businesses 111

Small Businesses 111

Abrigo

JANUARY 18, 2017

As anyone advising business owners knows, clients are often so busy with day-to-day operations and management that they find it tough to gain a big-picture view of certain financial aspects, such as cash flow. That’s one way the advisor adds true value to the relationship: By helping the business owner see the forest in spite of the trees and by showing the owner what’s possible with a few minor changes.

Days Sales Outstanding 88

Days Sales Outstanding Credit and Collections Credit Card Payments Dashboards 88

GoCardless

JANUARY 30, 2017

Many fundraising methods are old-fashioned, ignoring digital technology’s innovative methods of raising awareness and collecting cash. Greater use of tech-enhanced payment systems, including Direct Debit, could encourage more young people to donate.

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52

Fundera

JANUARY 24, 2017

If you’re a wannabe entrepreneur gearing up to start a business or you’ve just recently opened your doors, there’s a lot of uncertainty ahead of you. You can’t be sure how your product will evolve, who your first employee will be, or if you’ll even make it through the many challenges of entrepreneurship. If you’re wondering what percentage of small businesses fail, we don’t blame you.

Small Businesses 111

Small Businesses Credit Unions 111

Fundera

JANUARY 17, 2017

In the beginning, bookkeeping for small business was traditionally defined as simply entering your financial transactions. If this is still your definition of bookkeeping for small business, you may just be living in the dark ages. There are very few financial transactions to enter anymore. Where Is Bookkeeping for Small Business Now? When I go to dinner with a client or a prospect, I hand over my debit or credit card.

Small Businesses 101

Small Businesses Transactions 101

Fundera

JANUARY 6, 2017

I’m writing this from the plane—35,000 feet high, on a Delta flight from Detroit to Tampa—and my clients have no idea that I’m going to be gone for 11 days. Why not, you ask? The answer is this: online bookkeeping. This post isn’t about the different options for online accounting software ; I’m going to talk to you about why choosing to do online bookkeeping is the best option for any small business.

Small Businesses 101

Small Businesses 101

Fundera

JANUARY 17, 2017

Any small business owner knows that entrepreneurship has its highs and lows. One week you’re in control of everything—customers are happy, sales are good, and cash flow is strong. The next week, things go south—your computers crash, your Yelp page gets a bad review, or you take an unexpected hit in sales volume. It’s a mixed bag. And when you hit those low points of entrepreneurship, sometimes you need a little encouragement to keep going.

Small Businesses 97

Small Businesses 97

Abrigo

JANUARY 6, 2017

Kimberley N. Ellison-Taylor, chairman of the AICPA , recently noted that technology tops her list of the most important trends shaping 2017 because it will drive so many of the profession’s opportunities and challenges in the year ahead. But how are accountants supposed to keep up with all of the technological trends ? To be certain, many accountants could make a full-time job out of simply trying to understand the various types of technology that can make their personal lives easier and their p

Accounting Firms 87

Accounting Firms Transactions 87

Fundera

JANUARY 26, 2017

Choosing a business credit card for your company is an exciting moment. Yes, you’ll have to make a few less-than-thrilling decisions before you sign on the dotted line—like whether you want a business credit card or a business charge card, or whether you can stomach an annual fee. But here’s where the real excitement comes in: choosing the best business rewards credit card for your company.

Small Businesses 96

Small Businesses 96

Fundera

JANUARY 26, 2017

Some people are just born to be entrepreneurs. They’ve got a streak of independence that makes them absolutely determined to succeed on their own. But for many wanna-be entrepreneurs, it can difficult to decide exactly what kind of business would be the best choice. It’s tough to find that perfect idea! If you’re determined to start your own business, you probably know at least these two things for sure: you want to be your own boss, and you want to make a profit.

Small Businesses 96

Small Businesses 96

Fundera

JANUARY 5, 2017

Whether you’re a first-time entrepreneur or a seasoned business owner, you’re never short of small business advice. Both invited and unsolicited, small business wisdom from friends, family, fellow entrepreneurs, or down-right strangers always comes your way. Good small business advice can be a godsend for an entrepreneur—the nugget of wisdom that moves the needle for your business or leads you in a different, more promising direction.

Small Businesses 94

Small Businesses 94

Fundera

JANUARY 24, 2017

Believe it or not, you can make a profit and still go out of business. Let me say it again: You can make a profit and still go out of business. Wait, what? How? Why? It makes no sense, right. But this is something all bookkeepers know can be true (and many business owners learn first hand, sadly). What are some cases this can occur? By carrying too much debt on the books, for example.

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93

Abrigo

JANUARY 19, 2017

By Rich Greene, CEO - Director, Clarus Advisors How a company interacts internally to overcome obstacles is a key to building and expanding the enterprise value of the organization. Is there an inclusive process to review, anticipate and plan for changes and disruptions in the business and marketplace? Or a process to evaluate results? Is the process defined and routine, or ad hoc?

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83

Fundera

JANUARY 13, 2017

Maximizing income is top-of-mind for every small business owner, but if you’re paying for software or apps to help run your business, you could be throwing money away. Google offers several products that can help you do more, market better, and attract more customers—all for free. Here are 10 free Google products every business owner should take advantage of. 1.

Dashboards 88

Dashboards Small Businesses 88

Fundera

JANUARY 31, 2017

When you’re running a business, your income statement (a.k.a. your profit and loss statement , a.k.a. “How much money did I make?” statement) is the financial statement you’re most familiar with. But how familiar are we really? It’s a really simple statement, right? Profit – Expenses = Net Income. But wait! There are more ways of looking at this!

Retail Companies 88

Retail Companies Small Businesses Transactions 88

Fundera

JANUARY 27, 2017

Consider this: You can’t put a price tag on loyalty, but you can figure out how much loyalty is worth. As a small business owner, you probably can think of a few customers who you’d consider VIPs—they come in often, they spend a lot, and you know they choose you over your competitors. But just how big is your loyal following, and how can you maximize their impact while encouraging others to join their ranks?

Credit and Collections 87

Credit and Collections Small Businesses 87

Fundera

JANUARY 27, 2017

You’re at the point in your business that you know you need help with your accounting. You need advice about recordkeeping, legal structure, funding , and how to minimize your tax liability. Your insurance broker tells you that you need a bookkeeper to help you get organized, but your banker is telling you to hire a CPA. Choosing the right accounting professional will be one of the most important decisions you make for your business, but how do you decide between a bookkeeper vs. accountant, and

Small Businesses 85

Small Businesses Transactions 85

Fundera

JANUARY 2, 2017

Time is every small business owner’s most precious commodity. Fortunately, there are more solutions than ever to help us make the most of the 24 hours a day we’re given to start, manage, and scale our small businesses. Here are 10 of the best. 1. Toggl. The first step to managing your time is seeing how you’re spending it, and this super-simple time tracking tool can help.

Dashboards 85

Dashboards Small Businesses 85

Fundera

JANUARY 3, 2017

When you run a small business, you wear many hats—including finance manager. But although you may manage your business’s finances, you might not be an expert. Our new weekly series will break down the most popular financial terms, documents, methods, and more that your business needs to know. To kick things off, let’s get to know more about your statement of cash flows.

Small Businesses 84

Small Businesses 84

Fundera

JANUARY 20, 2017

Business credit card offers made quite a splash in 2016, and some of the best credit card offers are set to expire in the coming days. Which of the business credit card offers should you snag before they’re up? Check out these 3 incredible offers you don’t want to miss. 1. The Enhanced Business Platinum Card from American Express: 100,000 Point Bonus.

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81

Fundera

JANUARY 22, 2017

If you’ve decided you want to use software to run your business’s payroll, you might worry about the difficulty of choosing a payroll system. To weed through the many services out there, you need to know what to look for. Choosing a payroll system can be easier than you think if you pay attention to key factors. Take a look at these tips to help you pick the best payroll system for your small business.

Short Pay 81

Short Pay Small Businesses 81

Fundera

JANUARY 2, 2017

When you’re gearing up to start your own small business, a lot of exciting tasks need to get done: locking down your perfect business idea , choosing your business’s name, getting the word out, financing startup costs , and so on. With all the exciting to-dos on your starting-a-business checklist , it’s easy to push aside the more tedious tasks that need to get done before your opening day.

Small Businesses 79

Small Businesses 79

Fundera

JANUARY 11, 2017

Small businesses endure notoriously small margins of error. The lack of a distinctive product, a failure to effectively communicate with their customer base, and ineffective leadership with half-cooked business models result in a 25% failure rate within the first year, according to the U.S. Bureau of Labor. Still, those figures are the envy of the restaurant industry , where saturated markets and profit margins that hover around 10% often spell doom for even the most refined providers of haute c

Small Businesses 75

Small Businesses 75

Fundera

JANUARY 4, 2017

The Small Business Administration has always been a champion of women entrepreneurship. With its Women Business Centers, specific small business loans for women , the Office of Women’s Business Ownership , and countless other SBA resources for women , the government agency continues to empower female small business owners year after year. Forging ahead on their mission, the SBA just launched the 2017 InnovateHER: Innovating for Women Business Challenge earlier this week.

Small Businesses 75

Small Businesses 75

Fundera

JANUARY 19, 2017

“Hopefully, my business will be profitable one day.”. Most business owners think of profitability as an event that will happen “someday.” They are hopeful that one day, if things go just right, their business will support them and they will be able to live the coveted entrepreneurial lifestyle. This sort of thinking makes profitability seem unattainable and mysterious, when in fact profitability can be attained by implementing a series of tricks and positive habits.

Transactions 75

Transactions Small Businesses 75

Fundera

JANUARY 25, 2017

It’s the most wonderful time of the year again … tax season. If you’ve already begun the filing process, good for you! Most Americans wait until the first week of April to even begin thinking about filing, so you’re saving yourself a lot of panic down the road. And because you’re already ahead of the game, there’s no reason to stop the momentum now.

Deductions 75

Deductions Small Businesses 75

Fundera

JANUARY 21, 2017

The worldwide ransomware epidemic shows no signs of slowing down. Cybercriminals around the globe are constantly coming up with new ways to infect your business’s network, encrypt your digital files, and hold them hostage until a ransom is paid. The good news is that, in addition to implementing a data backup and disaster recovery solution, you can take some key steps to avoid falling victim to ransomware.

Small Businesses 72

Small Businesses 72

Abrigo

JANUARY 27, 2017

Small businesses are an important market for growth-oriented banks and credit unions. The good news for financial institutions that see SMB lending as a crucial part of their loan portfolio growth strategy is that small businesses are in need of capital. In a recent Sageworks webinar , Steven Martin, vice president at Sageworks, cited cash flow as the top concern of small business owners.

Small Businesses 60

Small Businesses Credit Unions Credit and Collections 60

Abrigo

JANUARY 23, 2017

Americans spend a lot of time each year planning how to grow their retirement savings in 401(k) plans or other investments. But business owners, who typically have more than half of their net worth tied up in their businesses, may not devote a similar level of attention to ensuring their top asset is worth what they hope it will be when they’re ready to liquidate their ownership stake.

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60

Abrigo

JANUARY 18, 2017

In an increasingly competitive banking environment, many banks and credit unions are re-evaluating their lending portfolios to see where they might have strong opportunities for competitive growth. For many, that area is Small to Medium Business Lending and Commercial Real Estate. For credit unions specifically, this is an area both of great opportunity and also some unique challenges.

Credit Unions 60

Credit Unions Credit Risk 60

Abrigo

JANUARY 17, 2017

With the 2016 release of the Financial Accounting Standards Board’s (FASB) guidance on the CECL model , banking professionals and consultants have been theorizing about the impact the standard will have on current bank processes. While it is important for these banking professionals to be prepared, consultants are stressing the importance of tackling today’s allowance challenges too.

CECL 60

CECL 60