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New Way to Do Accounting — Is It Right for Your Small Business?

Posted In BOOKKEEPING

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 [...]

5 Tips for Running Your Small Business More Effectively

Posted In INNER CIRCLE

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 [...]
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Get the Most From Your Employees

Posted In EMPLOYEES

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 [...]
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Get the Government's Business Intelligence for Free

Posted In TRENDS

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 [...]
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What Not to Do When Seeking a Small-Business Loan

Posted In MONEY

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 [...]
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More Businesses to Qualify as 'Small' Thanks to New SBA Size Standards

Posted In MONEY

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. [...]
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Get Better Testimonials by Asking These 6 Questions

Posted In MARKETING

Nothing is more powerful in persuading prospects to become customers than testimonials from existing clients. These personal recommendations tend to carry great weight because they are authentic and demonstrate that real people get satisfaction and results from your products or services. Of course, some testimonials are more persuasive than others. Here are the six questions [...]
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Improve Your Banking Relationship

Posted In BANKING

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 [...]
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