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Strategies for Handling the Little Expenses

Strategies for Handling the Little Expenses

business expenses, cash, cash advances, Homepage, reimbursement arrangements, Small Business, SMB Financial, tax time Thursday, June 1, 2023 5:27 am

With inflation still prevalent, those nickels and dimes, or $5 and $10 expenses, may not seem so important. But they can add up. Just $10 a month is the equivalent of a $120 a year, which could purchase a mid-level inkjet printer, a meal for 2 at a nice restaurant, and so on. Not so long ago (and maybe still in some companies), there was a petty cash box that could be tapped by authorized employees to pay for little things…a tip for a delivery person, pizza for staff, etc. Maybe the box had $50 or $500. Today, most expenses—no […]
The post Strategies for Handling the Little Expenses appeared first on Barbara Weltman.

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What Are Your Sentiments about AI?

What Are Your Sentiments about AI?

artificial intelligence (AI), automation tools, decision making, General Business, Homepage, Small Business, small businesses, Technology Tuesday, May 16, 2023 5:22 am

Artificial intelligence or AI, a term coined in 1956, is in the headlines every day. It’s been touted as the best thing to come along and the worst thing as well. The reality probably lies somewhere in the middle. Will it mean the end of humans (as Stephen Hawking suggested), or at least a big job killer (replacing 300 million jobs worldwide)? Will it provide solutions for small businesses? Have you thought about AI and your business? Do you understand what ChatGPT can do (there are already more than 100+ million users)? It’s time to understand the technology and what it […]
The post What Are Your Sentiments about AI? appeared first on Barbara Weltman.

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5 Reasons Why a Line of Credit Could Benefit Your Retail Boutique

5 Reasons Why a Line of Credit Could Benefit Your Retail Boutique

business finances, Cash Flow, Guest Blog, Homepage, inventory management, line of credit, seasonal business, Small Business, SMB Financial Friday, May 12, 2023 5:21 am

When it comes to managing a retail business, such as a fashion boutique, maintaining a healthy financial status is crucial for ensuring success in the competitive industry. One way to achieve financial stability is by leveraging a business line of credit. A business line of credit is a flexible financing option that allows you to borrow funds up to a predetermined credit limit, and only pay interest on the funds you actually use. In this article, we will explore five compelling reasons why a business line of credit could benefit your business, providing you with the financial tools necessary to […]
The post 5 Reasons Why a Line of Credit Could Benefit Your Retail Boutique appeared first on Barbara Weltman.

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How Being a Mom Prepared Me to Run a Business

How Being a Mom Prepared Me to Run a Business

Business, business owner, celebrating mothers, General Business, Homepage, moms, Mother's Day, running a business, Small Business Thursday, May 11, 2023 5:38 am

Mother’s Day, the second Sunday in May, is an annual event to honor the sacrifices that mothers made for their children. For retailers, it’s an opportunity to sell gift items. For restaurants, it’s a time that moms are taken out for brunch or dinner. For me, it’s a time to remember my mom. And it’s given me pause to think about what being a mom has trained me to do when it comes to running a business. Here are my thoughts on what I learned from raising children. Set rules There are certainly different parenting approaches. I choose to be […]
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Federal Tax Legislation Proposed to Help Small Businesses

Federal Tax Legislation Proposed to Help Small Businesses

federal tax law, Homepage, R&D costs, Small Business, small businesses, SMB Taxes, tax legislation, taxpayer Thursday, May 4, 2023 5:09 am

The National Taxpayers Union (NTU), the oldest taxpayer advocacy organization in the U.S., said in a letter to the House Small Business Committee  in April that federal Tax Code unfairly burdens small businesses. Well, we know that! To ameliorate this, several measures have been proposed in Congress to change current federal tax rules in order to help small businesses. It’s impossible to know whether some or all will be enacted; it’s likely most if not all won’t become law. Still, it’s worthwhile to know what’s happening and to tell those who represent you in Congress what you support. Small Business […]
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FAQs on Small Businesses in 2023

FAQs on Small Businesses in 2023

General Business, Homepage, National Small Business Week, self-employed individuals, Small Business, small business owners, small businesses, SMB Financial, Statistics Tuesday, May 2, 2023 5:50 am

Small Business Week 2023 runs from April 30 to May 6, so it’s a great time to be talking about small business. Often “small business” is a buzz word used by politicians and large corporations that want to look sympathetic to the challenges actually faced by self-employed individuals and small business owners. But it’s also a favorable status that can help businesses get a pie of the federal government’s procurement pie. The fact is: small businesses are statistically significant. The SBA’s Office of Advocacy released FAQs about small businesses. Note that the SBA usually defines small businesses as those with fewer than […]
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Recession Proofing Your Business Requires Inventory Management

Recession Proofing Your Business Requires Inventory Management

General Business, Homepage, inflation, inventory management, recession proof your business, Small Business, SMB Financial, supply chain Tuesday, April 25, 2023 5:08 am

In the last couple of years, the biggest concern for inventory-based businesses has been supply chain disruptions. Now, the focus is on managing inventory in inflationary times with the threat of a recession looming. It’s already been reported that there’s an oversupply of cars, which likely will lead to price wars. What happens when there’s an oversupply? Less demand usually means lower prices. As quipped on PictureQuotes.com, “talk is cheap because supply exceeds demand.” While a recession is not a certainty but surely a strong possibility, what should you be doing now to ensure your inventory meets the Goldilocks standard—not too […]
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Are You Properly Insured?

Are You Properly Insured?

business insurance, business interruption, business losses, business owner's policy, General Business, Homepage, insurance coverage, Small Business, small businesses, SMB Financial Tuesday, April 18, 2023 5:25 am

Insurance coverage is a must for businesses that hope to survive the impact of storms, fires, and other dramatic, unexpected events. There are certain types of occurrences for which you may think you’re covered, but on closer examination find you’re lacking. Or, even if covered, the extent may not be sufficient. Think about the small businesses in East Palestine, Ohio, who were shut down when the train carrying toxic chemicals derailed there on February 3, 2023. Residents were evacuated and told not to return until February 8, 5 days later—when businesses also began to reopen. But small businesses suffered considerable […]
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