Apr 15

Apr 15 Tips for Updating Your Business Plan

Accounting, Business Knowledge, Planning

Think of your business plan as a roadmap designed to point the way to your current destination, knowing that where you land may not be your ultimate end point.

After all, things are constantly changing in a healthy, thriving business. Market fluctuations, new competitors, changes in staffing or your sales figures may nudge you in a direction you wouldn’t have previously dreamed of, requiring new goals and strategies to achieve them.

Of course, a change in plans may also require refinancing – another important reason to keep your business plan up to date. These tips will help you revise your plan painlessly, so you’re best positioned to stay on course and impress a potential lender when applying for funding.

Apr 8

Apr 8 Tips for Choosing a Small Business Bank

SBAI

Business Knowledge, Planning, Accounting

Finding the right bank to serve your small business needs can be a daunting task.

With so many competing financial institutions to choose from, business owners simply don’t have the time for the in-depth research required to carefully weigh all the options.

This guide to choosing a small business bank will help you narrow down your choices so you find the best fit for you.

Apr 1

Apr 1 Why You Need An Accountant and How To Choose One

SBAI

Business Knowledge, Planning, Accounting

Unless you’re an experienced accountant yourself, it’s always best to have an expert overseeing your financial business affairs. As a business owner, you’ll probably be juggling several roles, but it’s not wise to spread yourself too thin where money is concerned. And even though accounting software does most of the hard work (reconciling bank accounts and even producing draft profit and loss accounts), accounting software doesn’t actually think. This is where the expert comes in.

Preparing end-of-year reports and filing taxes can be complicated. If you’re not doing it right, you could be liable for penalties, or at the very least, not taking advantage of tax gains and financial opportunities. An accountant can not only make sure your business remains compliant (and pay as little tax as possible) but also help you analyze your business performance and work with you to achieve your goals.