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Ever felt like the term “current ratio” sounds like something straight out of a high school mathematics class that you’d rather forget? You’re not alone. But here’s the thing – understanding the current ratio can be a game-changer for managing your business’s financial health. Here’s a simple breakdown. What is the Current Ratio? In the simplest terms, the current ratio measures your business’s ability to pay off its short-term obligations…  Read more

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 While there’s been a recent string of disappointing macroeconomic data, in reality, these developments are signs of the U.S. economy’s strengths, not weaknesses. The economic pessimism of the last few years has often been rooted in a misreading of the…  Read more

What is Payroll? Payroll refers to the process of managing and processing employee compensation, including wages, salaries, bonuses, and deductions. This process includes calculating employee pay, withholding taxes, and other deductions, and ensuring that employees are paid accurately and on time. 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…  Read more

Most businesses understand that customer satisfaction is crucial to their success. Happy customers are more likely to remain loyal, refer others, and leave positive reviews. This trend has only been amplified by social media and online review sites, where negative feedback can spread quickly and damage a company’s reputation. In an increasingly competitive marketplace, having an effective customer service system is no longer enough: you need to be able to…  Read more

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. How small businesses impact our economy Every year since 1963, U.S. presidents have issued a Small Business Week proclamation to recognize the contributions of entrepreneurs and small business owners. The theme of Small Business Week 2024, “Building on the Small Business Boom.” Five indicators that show the US economy is…  Read more

The working environment of the past 2 years has brought the concept of burnout to the forefront. Unexpected work-from-home situations, juggling the new normal, and mental fatigue have all contributed to the issue. Recognizing employee burnout and having a plan to address it will ensure you retain employees and keep your company healthy. 1. Ensure everyone takes their time off In an attempt to appear as though they can handle…  Read more

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. The economy grew a disappointing 1.6% in Q1. What does it mean for interest rates? The U.S. economy slowed more than expected early this year as weaker business stockpiling and exports offset solid consumer spending and a flurry of housing construction. Overdraft/NSF Revenue in 2023 down more than 50% versus pre-pandemic…  Read more

In the world of small businesses, positive cash flow is king. It’s the driving force that keeps your business engine running smoothly, covering all your liabilities. But what happens when outflow exceeds inflow? Cash flow problems ensue, threatening the survival and growth of your business. These cash flow problems can originate from a variety of sources including macroeconomic issues like recessions, natural disasters, and wars, as well as microeconomic issues…  Read more

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Yellen says US working to mitigate risks to global economy U.S. Treasury Secretary Janet Yellen on Tuesday said a stronger-than-expected U.S. economic growth had helped power the global economy, and Washington was working to mitigate remaining risks to the global outlook and ensure sustainable long-term growth. Small business optimism reaches lowest…  Read more

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Fed’s rate-cut confidence wobbles as elevated inflation persists As Federal Reserve officials last year started steering the world towards possible interest rate cuts in 2024, they took heart in data showing inflation over many months had collapsed to the U.S. central bank’s 2% target, evidence their policies were curbing…  Read more

The power of a well-crafted email signature is often underestimated by professionals and businesses alike. Your email signature is essentially your calling card: it’s where you can share information about yourself and your company, like your website and social media profile links.  It can also include the company logo and highlight current promotions or links to products you want to boost sales of. Here are 4 tips for creating your…  Read more

As a small business owner, one of your biggest concerns may be the threat of retail theft. It’s understandable that the thought of someone stealing from you could be both frustrating and disheartening, especially when you’ve poured so much effort into building your business.  Shoplifting can have a significant impact on your bottom line, making it essential to take steps to deter potential thieves and protect your merchandise. In this…  Read more

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. U.S. remains world’s top destination for foreign direct investment for 12th consecutive year The United States has been ranked as the top destination for foreign direct investment for the 12th consecutive year according to Kearney’s Global Business Policy Council’s 2024 Foreign Direct Investment (FDI) Confidence Index. Small business owner confidence…  Read more

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. US economic growth for last quarter is revised up slightly to a healthy 3.4% annual rate The U.S. economy grew at a solid 3.4% annual pace from October through December, the government said Thursday in an upgrade from its previous estimate. The government had previously estimated that the economy…  Read more

If you’re like many business owners, you may find yourself struggling to understand what your finances mean or how you can use your financial information to make decisions for your business. Often we get into business because we love a product or service we want to provide. It’s not as common that we love managing the financial aspects of our business.  As a business owner, you have your best chances…  Read more

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Entrepreneurship, startups, and business formation are booming across the U.S. Applications for new businesses, the number of startups, and the total number of businesses have skyrocketed across U.S. states and counties since 2021. Federal Reserve issues FOMC statement On March 20, 2024, the Federal Reserve raised the federal funds…  Read more

When you run your small business, you have a lot on your plate. That makes it tempting to let some tasks slide, especially tasks that are related to finances, which can be challenging and is often outside your preferred skill set or experience. There are some tips you can follow that keep your finances healthy and enable you to thrive. Here are some financial best practices for managing your business,…  Read more

Tax season is stressful. You have to make sure you’ve got all your documents in order and that everything is filed on time. You also need to double check that the numbers you have are correct, and if they’re not then it can be a real headache. Given how stressful tax time can be, keeping everything together can help you navigate tax season much more easily. Here are some benefits…  Read more

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. How the enhanced CTC could impact tax season Tax season is well underway, but the fate of the $78 billion Tax Relief for American Families and Workers Act, including the enhanced Child Tax Credit, is now in the hands of the Senate. It is unclear when the legislation will cross…  Read more

If you’re considering selling your business, the process should begin long before you put the ‘For Sale’ sign up. Selling a business is not just a major financial decision but a life-changing one that requires meticulous planning and a strategic approach. In order to get the maximum return on your investment, you need to understand what potential buyers are looking for and make your business as attractive as possible. Step…  Read more