If you have a business it’s a good idea to keep your personal finances separate from those of your business. This helps you avoid personal liability regarding any debts or lawsuits connected to your business. It also simplifies your taxes and helps you better understand the state of your finances. There are several ways you can keep these two aspects of your life separate. Read more
How Much Cash Should Your Small Business Keep in Savings?
If you have a small business you know how important it is to have sufficient cash flow. You need cash for everyday expenses such as payroll, rent, utilities and supplies. Some financial advisors recommend having up to six months in operating expenses to be safe. The exact amount you need, however, depends on the amount of cash that typically flows in and out of your business. Let’s look at some of the criteria you need to consider when calculating the amount of small business savings you need. Read more
5 Ways to Improve Cash Flow and Get Paid Faster by Your Clients
Many businesses find it difficult to maintain a healthy cash flow. One reason for this is having clients who don’t pay their bills promptly. Pressuring customers to pay is always a little tricky. You want to maintain a cordial business relationship. At the same time, you need to get paid so you can meet your own obligations. Here are five ways to get paid faster and enjoy better cash flow for your business. Read more
More than Half of Small Businesses Planned to Grow in 2018
Are you planning to grow your business? If so, you’re far from alone. Currently, many small businesses are feeling expansive and optimistic about the future. A recent study by TD Bank found that more than half of all small businesses planned to grow in 2018, a seven percent increase from the previous year. The businesses surveyed include many diverse industries including real estate, healthcare, IT, finance, manufacturing and many others. Read more
Tax Benefits for Small Businesses That Donate to a Charity
If you decide to donate to a charity, you can enjoy several business benefits. First of all, you get the satisfaction of knowing you’re supporting a worthy cause. Second, you enhance your business’s reputation in the eyes of your customers and the general public. Finally, donating to charities can mean tax benefits for small business. In order to maximize these advantages, however, you need to follow certain guidelines. Read more
