Owning a business is part of the American dream, but starting or running a business is not easy. There are six critical small business financial mistakes a successful business needs to avoid. Top 6 Small Business Financial Mistakes Many new businesses start every...
Owning a small business is a dream of many Americans. Being your own boss is attractive and can be financially rewarding. The truth is that it is not easy, and many businesses fail or do not meet the expectations of the owner(s) that were present at the beginning....
A financial statement can take many forms. The first question to ask is whether the financial statement is for personal or business use. Individuals often have to prepare personal financial statements if they are looking to obtain credit, usually for a large purchase...
Your business may need internal controls. Internal controls are the policies and procedures a business takes to safeguard its assets. A key to running a profitable business is to make sure that the assets, especially cash, are protected. Assets are the lifeblood of...
Managing cash flow in a small business is crucial to its success. Cash flow management includes techniques for collecting cash, budgeting to plan for cash needs, utilizing outside sources such as banks or investors to supplement cash needs, and even legally minimizing...
