Financial Management Archives

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2025 Report on Nonemployer Firms: Findings on Hiring Plans from the 2024 Small Business Credit Survey

November 26, 2025

New report reveals experiences and financing behaviors of nonemployer firms on the cusp of hiring staff

A new report titled “2025 Report on Nonemployer Firms: Findings on Hiring Plans from the 2024 Small Business Credit Survey” delves into the experiences and challenges of nonemployer firms—those with no paid employees except the owner(s)—that are on the verge of transitioning into employer firms.

Just released by the Federal Reserve, the report finds that while “potential employers,” or nonemployers that plan to add employees in the next 12 months, are more likely to apply for financing, they face higher denial rates than “stable” nonemployers, or those that do not plan to add employees during the same period. Also explored are financial performance and the types of financing various firms tend to use.

Pioneer Machine & Tech: Woman-Owned Manufacturing Success

July 8, 2025

Deborah Harris found herself at a crossroads when her husband, the founder of Pioneer Machine Technologies in Madison Heights, passed away suddenly in 2019. Determined to continue his legacy, Deborah stepped into the world of precision and custom machining. “I had no experience in this industry,” she admits, “Actually, I had never even stepped foot in this business.”

Albany Apparel Brand Triples Sales with UGA SBDC Support

June 23, 2025

Roy Steinberg’s golf apparel business was in full swing in Albany, Georgia, but his business needed additional cash flow to increase inventory and meet demand. With guidance from the University of Georgia Small Business Development Center, Steinberg was able to develop a strong financial plan to refinance existing loans and improve cash flow. His hard work paid off—sales for his business, Steinberg Sportswear, have tripled.

Prepare for Profits – 2025, Part 2. 8 Ways to Fight the Profit Pinch

December 30, 2024

By Barbara Nuss, CPA
Founder, Profit Soup

In our recent blog, Prepare for Profits – 2025, Part 1: Your Cost Structure May Never Be the Same, I shared my thoughts about how policy and economic changes might impact cost structures in 2025. I stressed the importance of monitoring your 5-Line P&L. This “Part 2” continuation lists 8 things you should do today to help fight the profit pinch in 2025.

1. Accelerate Equipment Purchases

If you have the financial capacity to act early on purchases you would make in 2025 anyway, you might consider stepping up now.

2. Forecast Your Cash Flow

Talk to your accountant about forecasting cash flow under multiple scenarios so you can plan to have adequate cash reserves or credit lines, Establish a cadence for comparing actual results to budgets by the 15th of each month.

5 Powerful Steps to High-Impact Financial Coaching for SBDC Advisors

July 19, 2024

By Barbara Nuss, CPA
Founder, Profit Soup

Some SBDC advisors are confident supporting clients with operational issues, marketing and brand strategies but struggle with conversations about financial goals and KPIs. Like the clients they support, not all advisors have strong financial backgrounds. But armed with a structured approach and some basic foundational knowledge, all SBDC Advisors can positively influence financial discipline and results.

The best financial coaching leads advisors and clients to collaboratively create insights, goals, and action plans that improve financial performance.

An SBDC advisor who has a solid framework, a curious mind, and collaborative spirit can outperform one who relies on subject matter expertise to solve problems for their clients. When the measure of success is improved financial performance, it’s the process, not the advice, that influences results.

Here is a 5-step coaching framework that works for any problem-solving process, including financial coaching. The key is to have a robust supply of thought-provoking, open-ended questions that guide the client to discover issues and solutions.