Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Biden Expresses Optimism Over Debt Limit Deal, but an Agreement Remains Elusive President Biden is in talks with Congress to raise the debt limit and avoid a potential government shutdown. He is proposing a plan to raise taxes on wealthy Americans and corporations to help pay for the increase.… Read more
Starting a business is not for the faint of heart. A certain level of stress comes with carrying the responsibility of ensuring your company’s success. If things go wrong, it all falls back on you. That said, the freedom and sense of accomplishment of running your own business make the challenges well worth it. With good planning and strong business practices, you can avoid the pitfalls and drive your business… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. WHO: COVID-19 Pandemic is no longer a public health emergency of international concern The World Health Organization has announced that COVID-19 is no longer a public health emergency of international concern, although it still poses a global threat. The agency has warned that people are still dying from COVID-19… Read more
As a small business owner, you’re likely already aware of the importance of keeping your finances in order. Financial management goes deeper than paying your bills on time and collecting on invoices (although those are also important). It involves regularly checking up on your financial situation to make sure your accounts are in order, your records are up-to-date, and you’re spending within your budget. Among those activities, financial reconciliation plays… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. JPMorgan is buying First Republic Bank Following news that First Republic Bank was put into receivership by regulators early Monday, JPMorgan announced it would take over the bank. This makes First Republic Bank the third regional bank to be taken over by federal regulators since March and the second-largest… Read more
When it comes to running a small business, maintaining a healthy cash flow is essential for sustainability and growth. Your business can be incredibly profitable but still ultimately fail because of improper cash flow management. To prevent that from happening, here are some best practices that can help you better manage your cash flow and maintain the financial health of your small business. Remember, the key to success is to… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Earnings season shows that things aren’t so bad S&P 500’s Q1 earnings season started better than the previous two quarters, but positive earnings surprises and their magnitude are below 5-year averages. While earnings have improved, the index still shows the largest YoY decline since Q2 2020. Get a detailed… Read more
Managing family finances can be a daunting task, but with the right tools and mindset, it can be a smooth and effective experience. Here are some essential steps for managing your family’s finances, including budgeting, saving, and planning for the future. Budgeting Budgeting is the cornerstone of managing family finances. It involves creating a spending plan that outlines your family’s income and expenses. A budget helps you to keep track… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Stock futures rise as investors await bank earnings Futures tied to major US stock indices rose on Sunday as investors await more earnings reports from major US banks this week, including Goldman Sachs and JPMorgan Chase. Which vehicles are eligible for the new EV tax credit? A new bill… Read more
Keeping track of sales, earnings, expenses, and purchases is fundamental to the overall health and sustainability of your business. Effective bookkeeping produces the data you need to evaluate your current practices, anticipate challenges, and set attainable future goals. But despite their proven importance, many business owners dread and avoid accounting tasks. In fact, 40% of surveyed entrepreneurs claim that bookkeeping is one the worst parts of running a business! Wondering if it’s… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Fed expected to raise rates in May Amid the most recent economic data, analysts are trying to predict what it all means for interest rates in the coming months. Watch Yahoo Finance’s Jared Blikre and Seana Smith discuss what could be next here. US economy adds 236,000 jobs in… Read more
Having total control over your finances can give you an amazing sense of freedom. However, it takes a lot of discipline and hard work for you to be able to achieve this. In this article, we will share some of the most useful tips that you can start now to live a better financial life. Build multiple sources of income Whether it’s through your business, a side hustle, or investing,… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Why do US banks keep failing? In this video, CNBC discusses the collapse of several banks and the impact it has had on the economy, with over 550 banks failing since 2001 according to the FDIC. New EV tax credit rules make many vehicles ineligible The US Treasury Department… Read more
Inflation has ballooned worldwide in recent months, and there’s no question that small businesses are feeling the pinch. Supplies cost more, employees are hard to find, and your profits are shrinking. It’s undoubtedly challenging, but you can weather the storm with the following tips. 1. Study your data Your numbers are always helpful, but in times of rapid inflation, you’ll be especially thankful that you keep a nice, clean set… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Barr says US banking system is ‘sound and resilient’ Vice chair of the Federal Reserve Michael Barr said on CNBC this week that we have no need to worry about our banking system in the wake of Silicon Valley Bank’s collapse. Crypto prices drop as CFTC sues Binance for… Read more
Every manager has habits that make them incredibly effective as well as issues that their employees wish they would change. The problem is that many employees won’t tell their manager what those weaknesses are, often out of fear of retaliation. So while managers conduct employee performance reviews pointing out areas for staff improvement, sometimes the manager’s own weaknesses go unaddressed. There are a wide variety of habits that make managers… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Interest rate decision expected this week The Fed will announce a decision on interest rates this week, and many economists expect them to be lowered. Those who think rates will be raised again say it would confirm that we are headed toward a recession. The decision is expected Wednesday.… Read more
If you’re like most small business owners, there are never enough hours in the day to complete every task on your list. Often you’re faced with prioritizing what you need to do right now – deal with a customer, meet a deadline, attend an event – and the things you know you should do for the ongoing growth of your business. Scheduling time to attend to these business activities on… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. President Biden assures Americans that the banking system is safe amid Silicon Valley Bank collapse President Biden reassured Americans that their deposits in the banking system are safe and that his administration will take action to contain Silicon Valley Bank’s collapse. He explained how his administration will protect small… Read more
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 your clients and implementing plans for growth. Here are a few ways an accounting professional… Read more