Recent research shows that women and minority-owned businesses in the U.S. have been hardest hit by the COVID-19 pandemic. The impacts have been drastic, according to research conducted by the Stanford Institute for Economic Policy Research (SIEPR). African American business owners suffered the greatest level of losses with a 41% drop in revenue. Hispanic business owners … [Read more...]
Will the Next Stimulus Package be Enough to Help Women and Minority Owned Businesses?
On Monday July 27, 2020, the U.S. Senate Republicans proposed a new stimulus package for eligible Americans. The GOP proposal will be called the Health, Economic Assistance, Liability Protection and Schools Act (HEALS Act). Though the existing programs and pending proposals under the HEALS Act have been helpful to struggling small business owners, was there enough done by the … [Read more...]
5 Tips for Women to Access Business Funding
Whether you're launching a startup or seeking funding to keep your established business going, Kathryn Petralia, co-founder of Kabbage---a leading provider of online loans for small businesses, has five tips that you should follow. The truth is that it's harder for women to get business funding than men. Kathryn shares, "I've been in more than 100 meetings with venture … [Read more...]
Bitcoin Basics Infographic – What Is Cryptocurrency and Why Should You Care?
Bitcoin is a word you've undoubtedly heard in the news lately, but it's still a confusing term that is often associated with nefarious transactions. The truth is that Bitcoin and other virtual digital currencies (referred to as cryptocurrencies) are becoming more mainstream, and more businesses are accepting Bitcoin for purchases every day. It's important that you understand … [Read more...]
Using Financial Analysis to Diagnose Your Company’s Health
How well is your company really doing financially? Do you truly know the answer to that question? Do you know how to conduct the right financial analysis tests to get an accurate answer? Don't worry. Many business owners don't know the full story of the financial health of their companies. The problem with not knowing is that disaster could be looming. If you don't … [Read more...]
3 Ways to Use Excess Working Capital to Increase Profits
Many companies struggle to find ways to improve working capital, but others find themselves in the opposite position. They're sitting on excess working capital. If your company is sitting on large amounts of cash, you're missing opportunities! That money could be reinvested into the company to improve profits and shareholder value. During an economic downturn, having extra … [Read more...]
6 Ways to Improve Your Company’s Working Capital
Working capital represents the money your company has to meet its day-to-day business expenses. It's the amount of cash in your company’s pocket. Effectively managing working capital is critical to ensure your business can meet its obligations and avoid bankruptcy. Working capital is calculated by subtracting current liabilities from current assets. Yes, you want to have … [Read more...]
3 Accounting Terms Your Business Can’t Live Without
Avoided Accounting 101? Does the thought of interpreting financial statements make you cringe? You don’t want anyone to mislead you, or worse, take your hard-earned money right under your nose just because you didn’t understand key financial concepts. You need to be able to comprehend the importance of the accounting information that your CPA shares with you. Here are 3 … [Read more...]
5 Things to Consider Before You Sell Your Business
Ending a business is usually the last thing a business owner wants to think about. However, succession planning should be a top priority of business planning. This is because it is important to think how you are going to build the value of your company. How you plan to end your company may be a necessary part of how you plan to start your company. Are you building something to … [Read more...]
7 Deadly Financial Management Mistakes – Infographic
Financial management is a challenge for many small business owners. However, ineffective financial management can have a direct, negative impact on your bottom-line and your ability to grow profits in the future. It's imperative that you prioritize financial management for your business. According to an infographic from Intacct (shown at the end of this article), there are … [Read more...]