Business Tips

The volume and importance of your accounts receivables balance varies significantly by business type. A hair salon where customers pay at the time of service likely doesn’t have a large amount of accounts receivable. A manufacturing company that ships product before payment, and extends generous payment terms, likely has a

People become small business owners through several methods. Some inherit a family business when a parent or relative retire. Others launch an innovative new product and find themselves running a company without ever planning on it.

Your customers are the lifeblood of your business. You exist to provide them with the products and services that fulfill their needs, and your success depends on how well you identify and meet those needs. But your customers are not a monolith.

Many businesses are still struggling due to the financial restrictions imposed due to COVID-19. The severely reduced income combined with ongoing payroll responsibilities has led to many businesses having to shut down entirely. Those that are left standing are hanging on by a thread. Yet, hope is on the horizon.

It can be difficult to attract talent during the start-up phase when you can’t necessarily offer the larger salaries and bonuses of a more-established company. Many start-ups turn to offering employee equity plans that increase the attractiveness of working for them.

Since a lot of employees are working from home now, it makes sense that employers are looking for efficient ways to track employee time. Even though employees do have more autonomy over their working time, you still need to ensure that you’re not paying for excess idle time.

When making staffing decisions, it’s important to consider all the variables. You may be hiring support growth, or bring in new clients. Other times, the role in a cost center, and you’ll need to evaluate if existing revenues can support added costs.

Charging it has become part of the American way of life. Whether it’s because they want to delay payments, don’t have the money currently, or simply want the convenience, consumers expect to be able to pay their bills with plastic. For a small business owner, this can present a challenge.

By Dylan LeCompte

How to accept payments for your business is always of great concern to businesses. Of course, you need to accept credit card payments so that you can offer your products or services to a broader range of customers. But there are many different options for accepting credit card payments.