Small Business Budget

Going with the Flow: How to Manage an Irregular Income

One of the most stressful parts of being a small business owner can be managing an inconsistent income. Whether it is the weather, the economy, the changing of the seasons or just plain serendipity, your income can be “feast” one month and ”famine” the next. How do you cope with an irregular income? Here are some strategies to help you stay afloat in a choppy sea. Create a … [Read more...]

7 Steps for Creating a Budget for Your Small Business

Just as it is with your personal expenses, it is essential to have a budget in place for your small business. A good budget helps you estimate your income and expenses over a period of time – usually a calendar year with a small business –allowing you to make important decisions for your company. If you are not someone who is good with numbers, you may be daunted by the … [Read more...]

Going on a Business Shopping Spree with Your Personal Tax Return

According to USA Today, the average 2014 tax refund will be more than $3,000. It’s tempting to use that money to take your family on a nice vacation, splurge on those designer duds you’ve been eyeing, or on some other guilty pleasure. But what if you took that money and invested it into your business? Now, I’m not talking about simply transferring your refund money from your … [Read more...]

Seven Accounting Solutions for Your Small Business

Benjamin Franklin once wrote, “In this world nothing can be said to be certain, except death and taxes.” And to that, many a small business owner can add accounting. As a small business owner, you naturally want to spend your time making your product or service the best it can be, not crunching numbers. The problem is that if you don’t spend some time balancing your expenses … [Read more...]

Importance of Budget Planning: Avoiding Lost Opportunities from Cash Flow Shortfalls

There are many things to consider when managing a business; hiring, marketing, and actual delivery of the goods or services to your clients. At any stage of delivering value to your clients, things can go wrong. Miscommunication can lead to missed deadlines, poor internal controls can lead to quality problems, and staff can leave on short notice; leaving you in the … [Read more...]

Five Ways to Keep Money in Your Pocket as a Small Business Owner

The Ancient Roman playwright Plautus is credited with coining the phrase: “You must spend money to make money.” Certainly, as a small business owner, you know that to be true.  Even with the leanest start-up, there are costs to running a business. The trick, of course, is to earn more money than you spend. Here are five key ways you can keep more money in your pocket. … [Read more...]

Get Your Budget Out of Hot Water: When Finances and Circumstances Collide

Regardless of how successful a business is or how awesome the owner is, sometimes things happen that are out of our control.  These things may cause the business to suffer, and sometimes it may not be able to recover.  The key to safeguarding against these types of circumstances is to be prepared before they happen, and have a plan to set things back in order as soon as … [Read more...]