LLC or Corporation: Which Legal Structure is Better for Your Business
When starting a business, choosing the best legal form is a serious matter. If you don’t want your personal assets to be at risk, your choices are between a Limited Liability Company (LLC) and a Corporation. Both entities provide the limited liability protection that you want. What other criteria should you examine before making that […]
The Power is in the Numbers
Today’s business owners expect higher productivity, greater efficiency, and better information from all their employees and professionals. And they should! After all, they need to find every competitive advantage that they can in order to grow market share and become more profitable. One of the key functional areas that business owners need to be experts […]
Credit Clean Up…A Critical Concern for Entrepreneurs
As entrepreneurs plan to fulfill their dreams of launching a business, they should be very attentive to all the steps required to ensure success. Those steps typically include developing a comprehensive business plan that can be submitted to lenders to secure funding for their new business. Imagine planning for a significant event and overlooking a […]
Sustainability in Small Business
Whether it’s due to the floundering economy, flat housing market, or time of year, it seems that more small businesses than usual are in financial distress. Let’s face it, entrepreneurship is risky, and many don’t survive past the three year mark. But some are not only surviving, but thriving. So, what’s their secret? Other than […]
Your Credit is Your Character
When it comes time for you to borrow money to start or expand your business, remember that bankers are risk averse. Their main interest is getting their loan repaid in a timely fashion. Lenders assess the risk factors of the loan through their evaluation of the borrower, using the 5 C’s of credit: collateral, cash, […]
Is PEO the Way to Go for Better Personnel Management?
Employees! It is hard to have a thriving business without them. They are a critical-to-success factor in your efforts to expand your business, freeing up your time to spend on activities that move the business further along the growth curve. But as you bring on more employees, you begin to wonder what happened to all […]
To Debit or Not to Credit
The accounting profession has experienced a complete transformation in the way financial statements are generated and communicated to users. The emergence of low cost accounting software packages has replaced ledger cards and column pads, while hand written journal entries and general ledger postings seem now to have been replaced by “save” and “ok” buttons. With […]
Profit Engineering for Small Businesses
Now that many businesses have ended their calendar year and are preparing for tax reporting, it is an excellent time to evaluate last year’s performance and define areas needing improvement. As the economy tends to drift along at a sluggish pace, most businesses need to sharpen planning skills and develop a strategy that will deliver […]