August 28, 2014

Small Business News: Your Money Management

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Sometimes building a successful business is about more than just a dynamite marketing campaign and health sales. It can also have to do with how entrepreneurs manage their money. Be aware, how you approach finance from initial investment to growing your cash flow and beyond does make difference. This money management roundup offers some ideas to get you started.

Investment

When investors aren’t a good thing. Certainly, every startup entrepreneur dreams of the day someone writes you a chech and your business dreams come true. But every now and then, you’ll run into an investor who’s a bit different. Watch out or this person wil torpedo your company. Business Synchronicity

Raising capital in hard times. Getting the money necessary to launch your small business has never been easy and tough economic times have done little to improve the situation. But, believe it or not, in the current climate smart entrepreneurs and small business owners are still finding a way. Here’s a part of their secret. Open Forum

Taxes

What is your tax liability? Figuring out how much money your small business owes in taxes is an important detail that will help you to build your business for the future. How much does your small business have to pay in taxes? Here’s an approach to help you out. Money Ning

Five small business tax breaks. If you don’t know about these, you could be throwng money away at tax time. It’s important to be aware of the legal deductions allowed under tax law and to take advantage of these in order to get your business up and running. GrowSmartBiz

Bookkeeping

Setting up your small business accounting system. The ease with which you will be able to keep up with your financials in your small business really hinges on the quality of the accounting system you install to manage this part of your business. Here’s a guide to show you how to install one and get it up and running fast. Montreal Financial

Management

Why employee turnover and customer loss is more expensive. Another part of financial management should involve taking steps that improve revenue. Interestingly, some of these steps have nothing to do with innovative marketing campaigns or other approaches but simply with keeping employee turnover at a minimum and retaining customers. Winning Workplaces

A “bird in the hand” will help your business survive. Ken Kauffman talks about the realities of existing opportunities versus future plans and the need to balance both, guaranteeing a healthy business now and in the future. Though Ken’s post isn’t directly about financial management in essence that’s what we’re talking about here. CFO Wise

Financing

SBA lending becomes simpler. The Small Business Administration is trying to simplify and streamline it’s loan program, to give small business owners a better opportunity to find funding through the agency. Take a look at some of the details in this link for more on how the new loaning program will work. Open Forum

Three small business financing alternatives. Even without traditional lending, entrepreneurs are getting creative with finding the financing they need to launch their businesses. Here are some possibilities you may wish to consider if traditional loans are not an option. Small Business Advice for Today’s Economy

Trends

Tax cuts and hiring boost small business. Forget the constant insistence, especially among U.S. leaders that somehow the real problem with the economy was not enough debt. Washington has pushed initiatives in the belief that increased lending to small businesses would lead to economic recovery. However, it turns out simple tax cuts and increased hiring do a better job. TheMiddleShelf.com

2 Comments ▼

2 Reactions

  1. One interesting comment I read this week about taking on investment is to consider the ‘motivation’ of the investor and try to determine if they have the same shared values as you. While this may not seem so critical at the start, as your business develops different business values may undermine your progress and disallow you from progressing as you would wish.

    Regards,

    Ivan

    PS – and thank you for mentioning our site. This really is very encouraging for us :)

  2. The importance of managing money well cannot be under stated, its the core of your business and every business owner must learn the art of financial management, I really liked all the points you’ve mentioned. You may find a similar article on financial management interesting:

    http://businessinsightsblog.trainingforentrepreneurs.com/2010/09/07/keeping-your-bottom-line-strong/

    Riya Sam

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