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Mid-Year Tax Planning for Your Business

Mid-Year Tax Planning for Your Business

General Business, Homepage, Small Business, small business owners, SMB Taxes, tax credit, tax planning, tax savings Thursday, June 29, 2023 5:17 am

Can you believe that half of 2023 is over? The first half of the year has been a rocky one economically speaking. There were several interest rate hikes from the Federal Reserve, inflation moderated somewhat, and the debt ceiling crisis was averted. But according to the NFIB Survey for May 2023, optimism among small business owners continues to be well below the historic average. There are still supply chain disruptions and labor shortages. Where does your business stand? In order to do any tax planning, you need to assess your business performance for the first half of the year. Tax […]
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Recession-Proofing Your Business: Plans B and C

Recession-Proofing Your Business: Plans B and C

business plan, contingency plans, General Business, Homepage, planning, recession, recession-proofing your business, Small Business, SMB Financial, supply chain Thursday, June 22, 2023 5:40 am

It’s common knowledge that having a business plan is helpful, if not essential, in running a successful business. But savvy business owners know that having backup plans to address anticipated or unexpected contingencies is just as important. Understand how contingency planning operates and what matters you should address so that you’ll be prepared to handle a recession if it should happen. How plans B and C work The concept of contingency planning is nicely illustrated by HUD’s approach to winter planning back when COVID-19 was a serious issue. Plan A covered the usual or normal projected needs of communities for the […]
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5 Business Lessons I Learned from My Dad

5 Business Lessons I Learned from My Dad

business lessons, Father's Day, General Business, Homepage, lessons learned, running a business, Small Business, taking risks Thursday, June 15, 2023 5:15 am

Father’s Day is a few days away and this day reminds me of the business lessons I learned from my dad at the dinner table each day while I was growing up. He was a co-owner of a machine shop—a small business—that made parts for such items as telephone equipment, helicopters, and the Minuteman missile. Needless to say, his lessons—spoken and unspoken—had a profound impact on me. This is a blog I’ve run before but wanted to honor my dad by re-running it now…with some modifications. Lesson 1: Running a small business is 24/7. My dad talked about the routine […]
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Small Biz Congressional Measures to Watch and What to Do

Small Biz Congressional Measures to Watch and What to Do

business loans, federal law, Homepage, Small Business, SMB Legal, veteran entrepreneurs, veteran-owned small businesses Tuesday, June 13, 2023 5:15 am

There’s tremendous partisanship reported regularly in the media. But in actuality, there’s considerable bipartisan action going on. Small business matters shouldn’t be partisan; issues need to be addressed. Fortunately, the Small Business Committee in the House has taken some steps to help small businesses. The following is a brief overview of current bi-partisan bills on small business matters that have passed the Committee. Be sure to communicate your support or disapproval with your representative in Congress…you can make a difference. Current bills on small business matters 7(a) Loan Agent Oversight Act The SBA’s 7(a) loan program is the most common […]
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Improving Productivity and Organization Within Your Small Business

Improving Productivity and Organization Within Your Small Business

Automation, Guest Blog, Homepage, Organization, Productivity, remote work, Small Business Friday, June 9, 2023 5:16 am

Times are tough right now for small businesses. With the effects of the pandemic still lingering, along with the current cost of living crisis, keeping a small business afloat can be difficult. While these are not things you can control as a small business, improving productivity and organization (among other things you can control) can be beneficial in keeping your business competitive. You will find that by making adjustments and improvements to your business, you will be able to maintain your loyal customer base as well as gain more customers in the future. So, how exactly do you make these […]
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Lessons for Small Business Owners from Poor Richard’s Almanack

Lessons for Small Business Owners from Poor Richard’s Almanack

business plan, favorite quotes, General Business, Homepage, lessons, Small Business, small business owners, transparency Tuesday, June 6, 2023 5:14 am

Published annually by Benjamin Franklin from 1732 to 1758, Poor Richard’s Almanack was a compendium of weather predictions, advice, poems and stories, jokes, proverbs, and more. It was a best seller in its day. A number of the famous bits of advice, which arguably were “borrowed” from other sources, are still helpful today for small business owners. The following is some advice that holds true now and what I think it can mean for you. “Well done is better than well said.” Poor Richard’s Almanack, 1737 As a business owner, you need to walk the talk. This is true in […]
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Small Business Advice: Signs You Need to Hire Outside Help

Advice, Business, Guide, Ideas, LEARN, Small Business, Small Business Advice: Signs You Need to Hire Outside Help, Tips Friday, June 2, 2023 10:01 am

Negosentro | Small Business Advice: Signs You Need to Hire Outside Help | Running a business on your own is difficult. Yet when you’re starting out, and when you possess that drive and energy to push ahead, the ability to wear different hats and succeed doesn’t seem all that problematic.  As time goes on, the […]
The post Small Business Advice: Signs You Need to Hire Outside Help appeared first on Negosentro.

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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 […]
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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 […]
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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 […]
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