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Cash flow is the lifeblood of any business, but it is especially crucial for service-based businesses where inventory management and physical products don’t come into play. In these types of businesses, where services are rendered before or after payment, keeping… Read More
Archive for the ‘Finances’ Category
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How to Close Out Your Books for the Fiscal Year: A Guide for Small Businesses
As a small business owner, closing out your books at the end of the fiscal year is one of the most important financial tasks you’ll tackle. Properly closing out your books helps ensure accuracy in financial reporting, prepares you for… Read More
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Common Financial Mistakes New Businesses Make and How to Avoid Them (Part 2)
Last week, we mentioned some common financial mistakes new businesses make. Unfortunately, the list of mistakes is not exhaustive, and there are many other ways to make financial mistakes when starting a new business. By understanding these pitfalls and knowing… Read More
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Common Financial Mistakes New Businesses Make and How to Avoid Them (Part 1)
Starting a new business is an exciting venture full of possibilities and potential. However, it’s also a period fraught with challenges, especially when it comes to managing finances. Many new businesses fail within the first few years, and often, the… Read More
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Why Every Business Needs a Strong Financial Foundation
When it comes to business, success is often measured by profits, market share, and growth. However, these metrics are only achievable when a company is built on a solid financial foundation. A robust financial base is crucial for any business,… Read More
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How Service-Based Businesses Can Ensure a Healthy Profit Margin
Pricing services effectively is a crucial task for any service-based business. Setting prices too high can drive potential clients away while setting them too low can leave a business struggling to cover costs and maintain a healthy profit margin. Let’s… Read More
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Essential Weekly Accounting Tasks for Small Business Owners
Running a small business involves wearing multiple hats, and one of the most critical roles is managing the finances effectively. Neglecting accounting tasks can lead to financial chaos and hinder the growth of your business. To maintain financial health and… Read More
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Key Financial Metrics for Small Business Health
In the dynamic landscape of entrepreneurship, small businesses are the lifeblood of economies, driving innovation and providing employment opportunities. For these ventures to thrive, understanding and monitoring financial metrics is crucial. By keeping a close eye on key indicators, business… Read More
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The Importance of QuickBooks Training for New Entrepreneurs
Starting a new business is an exhilarating journey filled with dreams of success and growth. As a new business owner, you may find yourself juggling various responsibilities, from managing operations to handling finances. In the realm of financial management, QuickBooks… Read More
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Small Business Owners Should Use QuickBooks
Small business owners are constantly juggling multiple responsibilities to keep their operations afloat. Managing finances, however, is often a critical yet challenging aspect of running a small business. To streamline this process, many entrepreneurs turn to QuickBooks, a comprehensive accounting… Read More