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How to Spend Less and Save Money for Small Businesses

If you’ve just started a small business, then you’ll well know how tight cash can be in the early months. With start-up resources (including tools and materials, business insurance, and human labour) eating up your business loan, you may be questioning the viability of your enterprise in the long-term. But don’t despair prematurely: by instituting the following tips on how to spend less and save money, you’ll be on your way to start-up success. 1.

Freelancers! How Are You Managing Your Finances?

When I ended my marketing company in 2014, I didn’t know my next career step. I was open to the possibilities of working as an employee for another company, starting a new venture, working with business founders as a freelancer, or doing something completely different in the nonprofit arena. It turns out freelancing would initially choose me. Within a month of closing down the company I had eight projects on my plate from organizational leaders

A Dream And A Plan – Disability Shouldn’t Stop You From Starting A Busines

In 2015, the Wright family of Wilmington, North Carolina, opened a small business, a coffee shop with a staff determined to make a go of it. A full list of specialty coffee drinks and a menu featuring breakfast and lunch items got the new venture off to a good start, but there was much more to the story. Bitty & Beau’s is run by people with intellectual and developmental disabilities (IDD). They’ve since expanded, opening a shop

Starting A Business As A Stay-At-Home Mom: Tips For Success

Starting a business is nothing to take lightly, but these days it’s easier than ever to become your own boss. With advances in technology, we’re now able to use crowdfunding, social media and e-commerce sites and smartphone apps to build a business from the ground up and nurture it into success from the comfort of our own homes. Because of this, many different types of people are becoming entrepreneurs, from those who are living with a

How accounting services are embracing digitalization

Accountancy has undergone major transformations in the recent past. One of the most remarkable of these changes is the introduction of accounting digitalization into the profession. Cloud computing has brought massive advantages in the way accountants are doing their work. For starters, it has made accountants be more responsive to the needs of their customers. It is obvious that the modern consumer is techno-savvy. They have embraced digital technology fully. They are able to access

The Tax Deductions Every Sole Proprietor Should Know

As a sole proprietor you also need to be a tax expert. Sharpen your edge by getting to know more about the ways to lower your tax bill. While tax law is complicated, the benefit of utilizing tax deductions is simple. The more legitimate deductions you’re able to claim, the less tax you pay. As a sole proprietor, using a majority of their business earnings as income, these are some of small business deductions you

The 4 Places Your Restaurant May Be Losing Money

As a restaurant owner, stepping into your accountant’s office can be the start of a nightmare, especially if it’s bad news and your business is losing money. The good news is, it is easy to plug holes in your budget if you figure out where the leaks are. Many businesses overlook simple spending mistakes that accumulate over time and affect net profit. Clever restaurant accounting tricks will help you avoid the costs that kill so

Adopt the right bookkeeping solution for your business

With a growing business, it’s difficult to keep track of finances. Or, if you are looking to sell off your business soon, you know how much valuable clean books are. Therefore, you must always have a good bookkeeper on the job to maintain your books, and keep them clean and updated. Though there are many good bookkeeping options out there, but you just need to know which is the right one to hire. Freelance, firm,

Taking finance for home improvements

Finance comes at a cost, so deciding whether or not it’s worth taking out finance essentially means looking at the cost of the finance versus the benefit of what it will allow you to afford. In the case of home improvements, there are four points it may be helpful to consider in order to take that decision. How long are you planning to stay in your home? This is probably the single, biggest question to

The Importance of an Accounts Payable Department

Every business or organization essentially has two financial flows — revenue and expenses. You could also look at this in a more simplistic manner and define them as money coming in, and money going out. Money coming in is, obviously, what keeps a business afloat and allows it to operate for any extended period. However, once the money comes into an organization, there needs to be a surefire way to track expenses and keep costs