Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Stock futures rise as investors await bank earnings Futures tied to major US stock indices rose on Sunday as investors await more earnings reports from major US banks this week, including Goldman Sachs and JPMorgan Chase. Which vehicles are eligible for the new EV tax credit? A new bill… Read more
As businesses grow, managing inventory effectively becomes crucial to staying competitive and maintaining profitability. One key aspect of inventory management is reducing waste and spoilage, which can have significant financial and environmental implications. In this blog post, we will explore best practices for inventory management that can help your business reduce waste and spoilage, creating a more sustainable and cost-effective supply chain. Implement a First-In, First-Out (FIFO) system A First-In,… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Fed expected to raise rates in May Amid the most recent economic data, analysts are trying to predict what it all means for interest rates in the coming months. Watch Yahoo Finance’s Jared Blikre and Seana Smith discuss what could be next here. US economy adds 236,000 jobs in… Read more
When it comes to running a small business, maintaining a healthy cash flow is essential for sustainability and growth. Your business can be incredibly profitable but still ultimately fail because of improper cash flow management. To prevent that from happening, here are some best practices that can help you better manage your cash flow and maintain the financial health of your small business. Remember, the key to success is to… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Why do US banks keep failing? In this video, CNBC discusses the collapse of several banks and the impact it has had on the economy, with over 550 banks failing since 2001 according to the FDIC. New EV tax credit rules make many vehicles ineligible The US Treasury Department… Read more
As a small business owner, it’s essential to find ways to manage your inventory effectively to reduce costs, optimise warehouse space and ensure customer satisfaction. How you manage your inventory affects your cash flow, your customer relationships, and your relationships with vendors. That’s why it’s vital you use a system and process that works best for your business. Among the many methods of managing your small business inventory is the… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Barr says US banking system is ‘sound and resilient’ Vice chair of the Federal Reserve Michael Barr said on CNBC this week that we have no need to worry about our banking system in the wake of Silicon Valley Bank’s collapse. Crypto prices drop as CFTC sues Binance for… Read more
As a small business owner, you’re likely already aware of the importance of keeping your finances in order. Financial management goes deeper than paying your bills on time and collecting on invoices (although those are also important). It involves regularly checking up on your financial situation to make sure your accounts are in order, your records are up-to-date, and you’re spending within your budget. Among those activities, financial reconciliation plays… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Interest rate decision expected this week The Fed will announce a decision on interest rates this week, and many economists expect them to be lowered. Those who think rates will be raised again say it would confirm that we are headed toward a recession. The decision is expected Wednesday.… Read more
Starting a business is not for the faint of heart. A certain level of stress comes with carrying the responsibility of ensuring your company’s success. If things go wrong, it all falls back on you. That said, the freedom and sense of accomplishment of running your own business make the challenges well worth it. With good planning and strong business practices, you can avoid the pitfalls and drive your business… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. President Biden assures Americans that the banking system is safe amid Silicon Valley Bank collapse President Biden reassured Americans that their deposits in the banking system are safe and that his administration will take action to contain Silicon Valley Bank’s collapse. He explained how his administration will protect small… Read more
It is well established that financial literacy is a key component of financial independence. The more you know and understand about finance, the better equipped you are to make important decisions. Historically, women have had lower financial literacy scores than men for many reasons, including social norms, a lack of access to resources, and needing to focus on other issues. That said, women are living longer than men and studies… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. China is booming as Zero Covid approach ends The Chinese economy is heating up, with manufacturing growing at its highest rate in a decade. The improvement is due to the widespread loosening of restrictions which brought millions of people back to work and bodes well for the world economy.… Read more
Deciding to purchase something to help your business is a big decision. It can be difficult to part with hard-earned money, especially in the early days. To understand the right time to invest by purchasing something for your business, you must calculate whether the Return on Investment (ROI) would be profitable. The cost is the amount of money you spend making the purchase, plus any indirect costs (such as training… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Inflation measures surged at the fastest rate since last June Consumer prices rose 0.6% from December to January, the fastest pace since June. Core inflation was up 4.7% compared to this time last year. Consumer spending rose 1.8% from December to January. Government takes action against crypto industry Last… Read more
2023 is expensive. The cost of living is higher than ever, interest rates keep rising, and it keeps getting harder to stay afloat, let alone get ahead. As a result, carrying debt has become commonplace. But, with the challenges of the past few years, many of us have more debt than we’re comfortable with. How do you get ahead while you’re still trying to catch up? Here are some tips… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Meta follows in the footsteps of Twitter Mark Zuckerburg announced that Meta is launching a pay-for-verification subscription service called Meta Verified for Facebook and Instagram, much like Twitter Blue. The launch begins in Australia and New Zealand this week, with more countries to follow. Nearly 1.1 million cars recalled… Read more
When you go into business as a tradesperson, your focus is often on performing your trade to the best of your ability – as it should be. With time, the quality of your work will speak for itself, which is the most valuable testimonial of all. However, any trades accountant or bookkeeper will tell you there’s more to it these days. While your good reputation preceding you is undoubtedly essential,… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Amazon takes half of each sale New figures show that Amazon takes half of the profit that each small business makes on its Amazon Marketplace platform. Stock market starts the week strong ahead of inflation data Wall Street started the week noticeably higher as investors await inflation which will… Read more
You’ve likely heard the phrase “in the black.” Your balance sheet is the tool that shows you whether your business is indeed “in the black.” Your balance sheet includes a section for your assets (things you own or will receive that have value), your liabilities (what you owe to others) and equity (retained earnings and funds from investors) at a specific time. The relationship between these three sections shows how… Read more