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Even if you have outsourced your financial functions, as a small business owner, it is crucial to have a solid understanding of key financial concepts to work with your advisor and ‘speak their language”. This article outlines several important concepts that every small business owner should be familiar with. Basics of income and expenses As a small business owner, it’s important for you to understand how you generate and spend…  Read more

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. The Great Mismatch: with millions of open positions, why does the job market feel so dire? Despite what should be encouraging data from the Labor Department, a majority of job seekers are not finding the opportunities they want. The era of confounding economic data and indicators stretches on. US…  Read more

Assessing the viability of your new idea is an essential part of market research. While seeking input from friends and family is common, gathering information from the market itself can provide more accurate insights. Here are 4 effective research tactics to collect accurate information about your business idea: Harness the power of the internet Leverage the power of the internet to explore your chosen market. Investigate your main competitors, their…  Read more

Every business encounters financial challenges at one point or another. But when the going gets tough, just remember that you’re not without options. One practical strategy that can help you weather the storm is asset liquidation. Asset liquidation is a process of converting your business’s tangible or intangible assets into cash, providing you with the vital liquidity to bridge financial gaps until your business recuperates. However, this strategy demands careful…  Read more

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. With a US government shutdown, what happens to the economy? The U.S. Congress passed a stopgap funding bill late on Saturday government averting shutdown. About quarter of the US GDP is government expenditure. A drop in that spending will have knock-on effect on the economy. What would stay open…  Read more

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Fed’s Wall of Worry: Government shutdown, UAW strike, student loan repayments and $90 oil Just when Federal Reserve Chairman Jay Powell thought he was making strides in managing inflation, he’s now facing a five-point threat to the economy at the very least. “It’s the strike, it’s the government shutdown, resumption of…  Read more

In the business world, cash flow remains the lifeblood that keeps your operations running smoothly. Whether you’re a start-up finding your feet or a seasoned business, maintaining a steady cash flow can be quite a challenge. But a few small changes can make a world of difference to your cash flow and overall revenue. So, let’s dive into some practical strategies you can implement to boost your cash flow. Get…  Read more

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. IRS halts new ERC processing after flood of bogus claims The Internal Revenue Service said Thursday it’s putting an immediate stop to processing of new claims for the Employee Retention Credit after receiving a surge of questionable claims. The UAW’s big asks, unusual strike strategy, and what this all…  Read more

Creating a robust business plan is crucial to the success of any startup. It not just provides a roadmap for your business, but also helps to attract potential investors. Here’s a practical guide to help you put together your business plan. Gather Relevant Information Start by collecting all the necessary information about your business. This includes understanding who will run the business, who will advise you, and a thorough analysis…  Read more

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Lithium deposit found in US may be among world’s largest, study finds A deposit of lithium recently discovered along the Nevada-Oregon border may be among the world’s largest, having potentially huge implications for the transition to electric vehicles. US recession remains ‘more likely than not,’ Deutsche Bank warns The U.S. economy has…  Read more

Starting a small business is both exciting and daunting. While the entrepreneurial spirit may drive you to take the leap of faith, the reality is that you may be entering a market that has already attracted some large competitors. It can be intimidating to think about competing against larger, more established competitors, but it’s not impossible. Here are some steps you can take to help your small business take on…  Read more

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Surprisingly durable US economy poses key question: Are we facing higher-for-longer interest rates? One after another, economists have postponed or reversed their earlier forecasts for a U.S. recession. Optimism that the Fed will pull off a difficult “soft landing” — in which it would manage to reduce inflation to…  Read more

Cybersecurity Best Practices for Small and Medium-Sized Businesses In our digital age, cybersecurity is a crucial aspect of running any business. Cybersecurity breaches could lead to not only data theft but also reputational and financial loss. Hence, it’s imperative to establish robust cybersecurity measures to protect your business and customers’ sensitive information. Here are some cybersecurity practices that could help safeguard your online presence. 1. Invest in Security Software: One…  Read more

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Economy’s solid growth could require more Fed hikes to fight inflation, Powell says at Jackson Hole The continued strength of the U.S. economy could require further interest rate increases, Federal Reserve Chair Jerome Powell said. Powell noted that the economy has been growing faster than expected and that consumers have kept…  Read more

As a small business owner, you always look to keep your business running efficiently. Expense reimbursement fraud is the last thing you want to face. Not only can it hurt your bottom line, but it can also damage your company’s reputation. Here we discuss what is employee expense fraud, reasons behind it, and most importantly, how to prevent it from happening to your business. What is expense fraud? Expense fraud…  Read more

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Mortgage rates are at a 21-year high. Here’s what that means for you. Mortgage rates hit a 21-year high this week, a milestone that makes home buying a much more expensive prospect for those who are interested in doing so. According to Freddie Mac, the rate for a 30-year fixed-rate mortgage…  Read more

In the competitive world of real estate, every dollar counts. As a real estate agent, you work tirelessly to close deals, secure listings, and provide top-notch service to your clients. But are you doing everything you can to optimize your finances and save on taxes? In this blog post, we’ll explore valuable strategies and tips that can help real estate agents based in the United States save significant money on…  Read more

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. If the US economy is so good, why are small business owners so pessimistic? There are 33m small businesses in the US, with about 6m of them employer-owned. Each of these people has their own reasons for feeling less confident about the economy. According to the most recent monthly…  Read more

It seems like the perfect storm has hit, with rising interest rates and inflation soaring. As a result, households are dealing with higher borrowing costs, leaving them with less disposable income to spend. And that means businesses are feeling the pinch. To make matters worse, staff shortages are adding to the pressure. Retail sales decline affects all businesses. Almost every sector is experiencing a downturn. Building companies, property companies, retailers,…  Read more

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Why did the US credit rating just get dinged? On August 1, the Fitch Ratings agency downgraded the United States’ long-term credit rating from AAA to AA+ for only the second time in the nation’s history, in what’s generally seen as a signal of concern about the US’s creditworthiness.…  Read more