Starting a business is an exhilarating time. It can also be a very stressful and busy time. As a local business owner, you often end up wearing all of the hats (CEO, Accounting, HR, Marketing, etc.) in the beginning due to lack of funding early on.
In all honestly, this isn’t such a bad thing because it’s nice to know how things work and how all the pieces fit together if you’re the one running the business. At the same time, the goal is to be able to hire experts to handle other departments at some point in the future so you can focus on building and growing the business.…
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In any business – small or large, good or bad economy – internal theft or employee fraud can occur. Actually, in my experience, I have seen more employee fraud occurring in small to medium-sized businesses because there is a greater level of trust, a less formal process at times, greater familiarity with each person in the company, and a greater breadth of duties for each employee.
Credit cards can be a wonderful business tool. They allow you the flexibility of easily using credit to make purchases under the promise that you will pay back the money that you borrowed on credit. Credit cards are a great tool for consumers and for regular small businesses. They give you easy access to credit and allow you to focus on what is most important for you in your business and in your personal life.
While everybody else gears up for the holidays, small businesses should have another thing in mind apart from sales: filing taxes. As the fiscal year draws to a close, it is important that business owners review the current financial situation and start implementing strategies to help minimize your income tax.
