Small Business Finance

Small Business Finance

The one thing you need to start a business, besides a good idea, is money. Banks don't lend to new businesses with no track record, no cash flow, and no collateral. So that often means tapping into your savings or turning to others for money to start a business.

Once your business is generating revenue, you need to have a firm handle on the numbers aspect of your business. You'll need to monitor cash flow and understand financial management: bookkeeping, controlling costs, banking, taxes, insurance, accounting, and all financial matters related to your business.

Small Business Finance Posts

Accrual vs Cash Basis Accounting

Cash Accounting vs. Accrual Accounting: Which to Use?

One of the first decisions you’ll have to make regarding the financial management of your business is which accounting method to use. Cash accounting is more popular and user friendly. Accrual accounting is more accurate in many ways and some businesses are required to use it. Learn more about both here.

Small Business Payroll Outsourcing

Should Your Payroll Be Outsourced or Done Internally?

Doing the payroll on your own can be a huge headache. One mistake can result in angry employees or penalties and fines from your local government or the IRS. Luckily, there are many payroll services targeted toward small businesses that can prepare your paychecks, direct deposits, and payroll taxes for you.

Government Grants for Small Business

The Truth About Government Grants for Small Business

Government grants for small businesses exist, but it’s not free money for the taking. Getting a grant is not easy and not everyone qualifies. There are also government grant scams to look out for. That said, your business may qualify to receive grant money from your state or the federal government.

Veterans Small Business Loans

Small Business Loans for Veterans of the Military

Small business loans for veterans are available to help vets start a small business or expand an existing one. While the program is for veterans and spouses of veterans, it is not administered by the VA as a lot of people assume. Learn what you need to know about veterans small business loans here.

Non Paying and Late Paying Customers

What To Do When a Customer Won’t Pay You

Having to deal with customers who pay late or don’t pay at all is one of the challenges of being a business owner. Even the best clients can take too long to get your invoice paid. Find out what to do when a customer won’t pay you and how to prevent slow paying or non-paying customers from killing your business.

Small Business Accountant

Is It Time to Hire an Accountant for Your Small Business?

A good accountant who specializes in working with small business owners can be instrumental to the growth of your business. They do much more for you than just prepare your taxes. They can help you increase profits, cut expenses, manage cash flow, and advise you on all business matters.

Get Small Business Tax Help

How to Get Small Business Tax Help and Advice

Not many business owners enjoy doing their own taxes. Luckily, there are plenty of small business tax services available. They are not all created equally, however. Tax preparers, Enrolled Agents, CPAs, and tax attorneys all offer their services to small businesses, but which one is right for you and your business?

Small Business Bank Account

How to Find the Best Business Bank Account

Opening a small business bank account is not as easy as you might think. It requires considering many factors. While most banks offer business banking, the rules, fees, services, and available conveniences vary from bank to bank. Learn how to pick the right bank for your small business.

Bank Account for Small Business

Do I Need a Separate Bank Account for My Business?

A separate bank account for your business is a must. There are many legal and practical reasons for separating your personal funds from your business funds. Even if you have no employees, do business in your own name, and only work on your business part time, you should still set up a business bank account.

Small Business Liability Insurance 101

Intro to Liability Insurance for Small Business Owners

Whether you provide a service, sell a product, maintain a store, or work from home, liability insurance is a must. A judgment against you for an accident on your premises, a defective product, an issue with an employee, or slander could put you out of business. Learn about small business liability insurance here.