When you start a business, you’re typically your only employee and payroll is about as simple as it gets. But as you grow, you hopefully find yourself in the position of needing to take on more employees. Before you know it, what was once a very straightforward task becomes a giant undertaking that’s sucking up […]
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. The economy is healthy, but inflation is overshadowing growth Despite high interest rates and stubborn inflation, the economy is growing remarkably well. All the major indicators we use to gauge its health—and how families […]
Embarking on a business venture is a rollercoaster journey filled with highs and lows. A common challenge that new entrepreneurs face is the discrepancy between projected profits and actual cash on hand at the end of the fiscal year. This guide is designed to help you uncover the hidden sources of your missing revenue […]
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Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. US small business sentiment rebounds in April U.S. small-business confidence increased in April and the share of owners planning to raise prices was the smallest in a year, but persistent labor shortages continued to […]
Preparing for Payroll Before you can start running payroll, there are a few steps you need to take to prepare: Legal and compliance requirements To ensure compliance with federal and state laws, businesses need to familiarize themselves with the following regulations: Fair Labor Standards Act (FLSA): sets minimum wage, overtime pay, and record-keeping requirements for […]
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As a small business owner, you’re likely already wearing many hats. But the hat of a financial analyst might seem a little oversized, particularly if your background isn’t in finance or accounting. However, understanding financial ratios can be a game-changer for your business, helping you assess your business’s financial health and make informed decisions. Financial […]
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. The U.S. economy’s soft landing is still on track Despite the recent string of disappointing macroeconomic data, these developments actually indicate the strengths of the U.S. economy rather than weaknesses. The economic pessimism in […]
In the ever-shifting landscape of business, grabbing hold of some predictability can be a game-changer. Though the horizon of the future might be shrouded in the unknown, wielding tools like meticulous budgeting and precise cash flow forecasting can slash through the fog of uncertainty. These tools empower you to foresee hurdles, draw wisdom from what’s […]
Starting a new business is exciting, but it also comes with its fair share of responsibilities. One of the most critical responsibilities is maintaining accurate records of your business transactions. From saving receipts to processing employee payroll, every money-related detail should be documented. It’s not just about keeping things tidy; it’s about understanding the financial […]
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Many small business owners think they’re saving money by handling their financials themselves. While it’s a real asset to learn bookkeeping basics, cash flow management and your tax obligations, hiring an accountant to oversee your finances has many benefits. Leaving your books to a pro will free up time so you can focus on serving […]
A fractional CFO, or Chief Financial Officer, is a finance professional who works on a part-time, retainer, or contract basis. We bring the experience and expertise of a high-level CFO to your business – without the cost of hiring a full-time, in-house employee. Fractional CFOs service several clients at once typically on a part-time, retainer, […]