POST CATEGORY : Finance

3 Financial Tools To Help You Get Your Start Up Off The Ground

Do you have an idea for a business? Reckon your product or service could fill a gap in the market? Always dreamed of being your own boss?

If you’ve answered yes to these three questions, then congratulations – you clearly have an entrepreneurial spirit! Now comes the hard part. More than half a million businesses launch across the country every month and you need all the help you can get if you’re going to stand out from the crowd and succeed – regardless of how good your idea is.

Business planning

The biggest thing to be aware of is money. If you don’t stay in control of this, then you’re never going to get anywhere.…

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Future Finances: How Outdated Accountancy May Be Costing Your Business

Whether as individuals, families or businesses, how we manage our finances is one of the most important parts of our livelihood.

Small business finance

When we think of finances, we often relate it back to our personal experiences, such as managing our private savings, or evaluating whether our budget can accommodate the financial commitment of periodic mortgage payments when purchasing a home. However, when it comes to managing the financial side of a business, things become significantly more complicated.

As a business owner, your primary goal is to ensure that your income is greater than your expenses and that you have adequate cashflow to pay your liabilities.…

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How to Truly Take Your Business Payments On the Go

One of the most liberating parts of being your own boss is having the ability to call all the shots. At the same time, as a business owner you are going to end up working longer hours, with fewer breaks, and have far less vacation time available when compared to your subordinates. This is why it is vital that all business owners have the ability to literally take their businesses with them while they take a day off, go on the road, or just go out to run a few errands.

Work on the go

When it comes to taking payments on the go, portability is paramount.…

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A Taxing Endeavor: 3 Tips to Take the Stress Out of Tax Season

Benjamin Franklin famously quipped that only two things are certain in life: death and taxes. Given that inevitability, it might seem surprising that so many business owners struggle during tax season.

Tax season stress

Entrepreneurs are typically so focused on growing their companies’ products and services that taxes become an afterthought. Most people don’t think about taxes until the last minute, so they’re not ready when it’s time to file. This ends up making the process more stressful than it needs to be.

This minor annoyance can morph into a major issue, disrupting day-to-day business activities in the process. A survey of small business owners found that 73 percent felt federal taxes had major to moderate effects on their routine operations.…

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Mobile or Online Banking: What’s the Difference?

Today, there are so many options to conduct transactions at your bank without actually going to a physical branch. Two of these methods include mobile and online banking. While most people use these terms interchangeably, there’s still a big difference between these two modes.

Mobile banking

Defining Mobile Banking

Strictly speaking, mobile banking is an umbrella term to cover any transaction conducted using a mobile phone or device. For example, sending text messages to approve transactions or receiving SMS about your account’s status can fall under mobile banking.

However, these kinds of transactions are not as common anymore due to the advent of the smartphone.…

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Emergency Loan Options for Small Business Owners

In an ideal situation, your small business would generate enough money each month to pay the bills on time and to turn a sizable profit for you to live on. However, running a small business often is financially stressful, and things do not always go as planned.

Emergency loan

Sales may be slow for a few months, or you may have great sales, but your invoices may not be paid on time by your customers. Even when you are generating income, you may have unexpected bills this month that require immediate payment.

There are many situations when a small business owner may need access to extra cash quickly.…

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Important Financial Tips for the New Small Business Entrepreneur

People start small businesses all kinds of ways, but one common factor within these diverse origin stories is the difficulty of controlling money. Money, essentially, is the reason all businesses exist. When your business starts up, it’s flowing all over the place.

New business financial meanagement

If you don’t have a lot of experience in the world of business accounting, it can be difficult to get the finances right during the critical early stages of your business’s existence. Following the following steps will help you correct early errors, and ultimately stay in business for a lot longer.

Separate Private and Business Finances

It’s common, in the early stages of your small business’s existence, to mix up your personal and business finances.…

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Taxes And Your Small Business

Debt is a pain, and if you run a small business your personal debt could have an effect on your business and your taxes. Freelance and contract workers have enough to deal with when it comes to tax time, so it’s not fun to learn that there are other things that can mess with you when tax time rolls around.

Doing taxes

One depressing thing is knowing that if you get a good deal paying off a debt it could come back to bite you when you file your taxes. You just might get a 1099-C in the mail for the money you saved, which will make it count as part of your income for the previous year.…

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Options For Handling Personal Debt Before Starting a Business

There are going to be times when people have a great idea to start a business, but still have some financial baggage in their personal monetary history. The question that hits: is it possible to start a new business while being privately in debt? The answer is – it depends. But, at the very least, having a goal for the personal debt is a must before you get too far into the details of your new business venture.

Paying personal debt

So to begin looking at your options overall, consider things like debt consolidation, taking out personal loans, talking to the SBA, getting angel investors on board, and using crowdfunding and crowdsourcing as a modern resource.…

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A Wiser Approach To Business Spending

Businesses are not cheap to run. Even a small home business costs money. Instead of putting your new business into debt immediately, it makes sense to learn how to be a bit wiser with the money you have.

Business budgeting

New business or old business, many of these tips can help you. However, they are definitely well suited to someone that is just starting to think about launching their own business. You really need to be careful with your money until you have a stream of it coming in from your business.

Have A Marketing Plan

Just as every good business needs a business plan before it gets launched, every good business needs a marketing plan.…

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