By Intuit –
Powering prosperity from the inside, one business at a time
National Small Business Week kicked off this week with a theme that couldn’t be more appropriate: Resilience and Renewal.
The Small Business Administration-sponsored week-long event recognizes the ongoing challenges entrepreneurs have been facing in order to support their employees, provide for their customers and build their communities.
It’s the perfect time for QuickBooks Online customers to join the new Intuit virtual Adopt a Small Business program to learn more about QuickBooks and partner with a team of Intuit employees as they navigate new and unprecedented challenges. (more…)
By Mobilization Funding –
Do you know how much cash your business has available right now? Do you know what bills are due this week and which later in the month? Many business owners know what is in their operating bank account, but don’t have a clear picture of what expenses will be due and how much cash they really need to get through the month and (hopefully) net a profit. Cash flow management solves this problem.
Cash flow management is essentially the tracking and analyzing of how money flows in and out of your business, and then forecasting when new cash will be coming in and how/when you will use that cash. Cash flow management is particularly critical for small and mid-size businesses, as they often have less free capital available to help them cover unexpected costs, delays, work shortages, or their own growth.
Managing your cash flow sources and the consequent uses of that cash can literally make or break your business. A U.S. Bank study showed that 82 percent of small businesses fail because of poor cash flow management. (more…)
By Sharita Humphrey –
Next year’s tax season is probably the last thing on most people’s minds right now. Since tax season ended not long ago, most people think next year’s taxes can wait.
However, there’s no such thing as “too soon” or “too early” when thinking about your future business taxes. Remember: They won’t get any easier moving forward.
So, if you’re wondering what you can do to make your business taxes easier in future years, you’re in the right place! (more…)
By Sharita Humphrey –
No doubt, as a small business owner, you bring an incredible amount of value to the table. It’s a huge task to get a company up and running and make it profitable. Most certainly, it requires a lot of attention and dedication. You might get so busy running your business that you forget about yourself. However, as your business grows, you should, too.
According to career and personal growth coach Kathy Caprino, “Personal growth is the process of growing stronger, more confident, and more effective as a person and an agent of change for your own life. It relates to how you see and perceive yourself, interact with others, engage with the world, and envision your future and your possibilities.”
This is why it’s important to cultivate a lifestyle that encourages personal growth alongside business growth, to allow for multiple levels of success. When you care about personal development (your own and that of any employees you oversee), you’ll foster a more engaged workplace, more efficient employee performance, and greater profitability over time. (more…)
Success Story: Del Mar College SBDC –
Nicole Horton and Martin Frannea, owners of Irie’s Island Food in Port Aransas, Texas, were getting ready to expand their business to a larger location as part of a 3-year recovery plan following the devastation of Hurricane Harvey. Then COVID-19 happened.
Prioritizing employee and customer safety, Irie’s Island Food closed its doors for nearly three months, even after limited service was permitted in Texas. When they did reopen, they experienced an overwhelming surge of vacationing customers. To keep everyone safe, they again closed the interior restaurant and offered outside and curbside service only, until they could safely re-open. Through the rest of 2020, and with much commitment and sacrifice, Nicole and Martin continued to focus on the safety of their employees and customers and keeping the business going. In January, 2021, they were able to relocate to their new, larger location, and double their workforce. (more…)