A comprehensive new approach to accounting has been created by the American Institute of Certified Public Accountants. It is intended to help small-business owners produce financial statements that are more informative not only for their own understanding and use, but also for sharing key financial information with lenders and potential investors. The new system, known [...]
Helpful advice from your mentors and peers can be a huge asset to any small-business owner, and it’s a bonus when they offer their words of wisdom for free. Gayle Carson (pictured) — who coaches CEOs and managers, serves on the board of directors of the Institute of Management Consultants USA, and hosts two podcasts [...]
Employees are probably one of your largest expenses as a small-business owner. So it’s important to get the maximum results from each and every one of them. Here are some simple ideas to help you do just that. Foster a Productive Culture Every small-business owner wants top productivity from everyone on staff, but only a [...]
You’ve surely heard the phrase “your government tax dollars at work.” What you may not realize is that some of this public money pays for the research, compilation, analysis, and presentation of valuable U.S. business information — data that you can use to operate and grow your company at no charge. The federal government is willing to [...]
Small-business owners who get turned down for a loan often blame the lender. Yet, more often than not, the owner is primarily at fault, because he or she went about borrowing money all wrong. Loans are a lot like marriage proposals; you ought to be fairly sure of acceptance before you ask. Here’s how to [...]
The U.S. Small Business Administration is increasing the maximum size of a company that may qualify for small-business status in 70 different industries. In about a third of those industries, the average annual revenue size standard was increased from $7 million to $35.5 million. The new standards, which vary by business type, take effect on July 22. [...]
Testimonials from existing clients are powerful marketing tools. Here are six questions to ask your customers to solicit effective endorsements.
Think your small business will need a line of credit or another type of loan in the future? You may want to cultivate a stronger relationship with your banker(s) now. Doing so can help you obtain more personal service, better terms, and preferential rates. Here are a few tips for forging deeper connections. Make Friends [...]