• Is a cash reserve necessary in my small business?

    It is important to have sufficient cash on hand to pay for expenses and emergencies. Cash beyond this should be put in a manageable, low-risk, interest bearing account, like a savings account, Treasury bill or short-term certificate of deposit.

  • What can I do to develop a better business cash flow?

    There are several options for increasing cash reserves: Accounts receivables: Properly control your accounts receivables and retrieve overdue accounts as quickly as possible. If you are not aggressive with collection, profits are lost. Having stricter credit standards: With the tightening of credit and terms, more clients are paying for their purchases in cash, which leads […]

  • How can I prevent cash flow problems from hindering my small business?

    One of the main reasons small businesses collapse is they have a poor cash flow strategy. The most common reason for this is that many small business owners do not have a grasp on basic accounting principles. You should learn the basics to maximize your cash flow. You can either keep cash on hand or […]

  • Are there certain legal standards that will affect my home based business?

    A home based business is affected by many of the same laws that apply to normal companies. You need to speak with a lawyer and the state department of labor to learn which of these laws and regulations will come into play. You will need to know your city’s zoning regulations as well as knowing […]

  • How do I know if a business based at home is good for me?

    You have to base your decision to start your own business on something other than the desire to be your own boss, such as: knowing beforehand what it is going to take, a thorough evaluation of your personality, and willingness to go the extra mile. You must be able to make plans and continually make […]

  • What should the business strategy contain?

    A business strategy, when applied to your company, should include an introduction, details about marketing, financial management, operations of the company, and a closing statement. In the introduction of the business strategy, what should I incorporate? This segment of the business strategy should contain information about the company and its objectives. Detail the experience within […]

  • Do I have what it takes to own and manage my own business?

    First, think about why you want to start your own business and make a list. The thrill of being self-employed, the need for independence both financially and professionally, and the desire to use the most of your intelligence and talents are a few of the most frequent motivations. You also need to make sure you […]

  • How do I create a successful strategy for passing on my family business?

    The family must do the following to attempt to have a worthwhile transition: Formulate a strategy focused on the family. Formulate a strategy focused on the business. Make a Succession Plan, which includes setting dates for retirement and the training for who will follow. Make an Estate Plan. These are the four key points to […]

  • What can I do to prepare my small business for the generation to come?

    The process of passing a family business onto the second generation is so difficult that not even a third of them survive. Beyond that, roughly half make it to a third generation. In a normal day in the U.S., 40 percent of businesses are confronted with a change of owners. Those who have founded the […]