Demystifying Inflation

Inflation – it’s a word that’s been on everyone’s lips recently. Rates are on the rise, and our small business community is feeling it the most. Increased supply costs, a lack of workforce, and dwindling profits are among the challenges faced.  Let’s demystify inflation and delve into its impact on small businesses. Grasping Inflation In essence, inflation is the uptick in the cost of goods and services. Whether it’s a…  Read more

The leap of hiring your first employee

When starting a business, you often wear all the hats – CEO, salesperson, marketer, and even janitor. But as your business grows, you’ll eventually hit a wall. There’s only so much you can do on your own. That’s when you might need to consider hiring your first employee. Hiring someone brings many benefits. It can double your workforce, free up your time to focus on the business, and introduce new…  Read more

Business Update – December 20, 2023

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Fed keeps interest rates flat again—but barely budges on 2024 rate cut forecasts The Federal Reserve opted to hold interest rates at the same level they’ve sat since July, as the central bank’s impactful rate-hiking cycle appears all but over, though the Fed remains coy about doing a complete…  Read more

The benefits of outsourcing for small businesses

For small businesses in today’s competitive market, outsourcing can offer a range of advantages. Not only does it reduce costs and free up valuable time for owners to focus on growing their business, but it also provides access to skills and expertise that may be unavailable in-house. By working with external professionals or firms who work in certain areas, small businesses have the opportunity to streamline operations, increase productivity and…  Read more

Business Update – December 13, 2023

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Americans feeling inflation’s impact on living standards, opportunities A CBS News poll reveals that inflation is significantly impacting Americans, even amid stronger jobs reports and economists’ talk of “soft landings,” people say they still pay more attention to their own experiences than to macroeconomic measures — and an overwhelming…  Read more

Managing work-life balance as a small business owner

As a small business owner, it can be incredibly difficult to maintain a healthy work-life balance. The obligations and responsibilities of running your own business often take priority over any personal pursuits, no matter how important they may be for your overall well being. But, with the right strategies and mindset in place, it is possible to strike an effective balance between working hard on your business and making time…  Read more

Business Update – December 06, 2023

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. US economy grows 5.2% in third quarter; higher interest rates eroding momentum The U.S. economy grew faster than initially thought in the third quarter as businesses built more warehouses and accumulated machinery equipment, but momentum appears to have since waned as higher borrowing costs curb hiring and spending. Jerome…  Read more

Make life easier with AI

AI (Artificial intelligence) has been both a huge disrupter and enabler for businesses of all shapes and sizes. (AI) is no longer just a pipe dream of science-fiction. It has become a vital aspect of today’s world and has meant businesses or employees can and are becoming more productive by leveraging the many AI tools for business activities.  In the past, the application of AI was limited to big corporations…  Read more

Business Update – November 29, 2023

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Americans expected to increase spending this holiday season According to one survey, American shoppers are expected to spend 14% more this holiday season than they did in 2022, this despite inflation and high interest rates. Roxana Saberi has more. The looming office space real estate shortage. Yes, shortage There…  Read more

Why online reviews matter

In today’s digital age, online reviews can make or break a small business. With the ease of access to social media and review websites, customers can easily voice their opinions and experiences with your business online. As a small business owner, it’s essential to understand the importance of online reviews as they will impact your brand image, sales, and customer loyalty. Boost your brand image Online reviews are the first…  Read more

Business Update – November 22, 2023

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. US renters remain burdened as insurance pressures on landlords mount Median renter households in the US remained burdened in the third quarter, with 30% of their income going to rent. Renters are considered “burdened” if their rent payments consume 30% or more of their gross, or pre-tax, income. Government shutdown averted:…  Read more

Effective strategies for boosting your startup’s cash flow

In the unpredictable world of startups, maintaining a cash surplus can be a lifesaver. It provides a safety net in case sales don’t meet expectations or unexpected expenses arise. Aside from providing security, surplus cash also paves the way for expansion opportunities, handling large bills, or purchasing essential equipment. While injecting personal capital or taking out a loan can aid in creating a cash surplus, let’s explore some other effective…  Read more

Business Update – November 15, 2023

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Businesses take stock of the U.S. economy and see reason to be cautious The level of inventories, or unsold goods, that U.S. wholesalers are keeping on hand fell in September to a 13-month low amid uncertainty about whether the economy can maintain its recent momentum. The US economy may…  Read more

How to unlock cash within your business

As a business owner, have you ever been caught short of cash? What if I told you that the solution to your cash flow woes might be hiding in plain sight? Yes, you heard it right. Your business may already possess the funds you need, locked up in assets, stock, or your debtors. In this post, we’ll break down three areas you can check to free up funds within your…  Read more

Business Update – 8 November 2023

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. 5 things to know about a stunning week for the economy Here are five takeaways about today’s economy, including why forecasters are cautioning that the strong growth may not last. Biden’s new plan for student loan relief, explained On Monday, the Department of Education announced new plans to forgive billions of…  Read more

Budgeting and cash flow forecasting: key to your business success

In the unpredictable world of business, finding a little certainty can make all the difference. While the future remains a mystery, tools such as budgeting and cash flow forecasting can significantly reduce the level of uncertainty, allowing you to anticipate challenges, learn from past events, and enhance your ability to navigate your business. Budget vs. Cash Flow: the crucial distinction A common misconception is that a budget and cash flow…  Read more

Business Update – November 1, 2023

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. U.S mortgage rates soar to highest in more than 23 years The interest rate on the most popular U.S. home loan last week jumped to the highest since September 2000, marking its seventh straight weekly increase and driving mortgage applications to a 28-year low, a survey showed. IRS warns…  Read more

Understanding and improving working capital

When it comes to running a thriving business, understanding and effectively managing your working capital is crucial. Essentially, working capital is the cash readily available for the day-to-day running of operations. The more protracted the business cycle, the higher the working capital requirement tends to be. Your goal? To ensure you have enough working capital on hand to cover operational expenses, with a reasonable buffer in place. How to improve…  Read more

Business Update – October 25, 2023

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy. Commerce at the forefront in improving nation’s cybersecurity Improving the nation’s cybersecurity is a priority for Secretary Raimondo and the Commerce Department. Commerce agencies are leading efforts to protect industry and government from current and future cyber threats. Efforts include promoting standards to help organizations manage and reduce cybersecurity…  Read more

Essential bookkeeping practices for start-ups

Starting a new business is exciting, but it also comes with its fair share of responsibilities. One of the most critical responsibilities is maintaining accurate records of your business transactions. From saving receipts to processing employee payroll, every money-related detail should be documented. It’s not just about keeping things tidy; it’s about understanding the financial health of your business and meeting all your tax obligations. Don’t underestimate the basics Some…  Read more

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