General Business Archives - Page 5 of 21

America’s SBDC Blog

A “Forbes 100 Best Websites for Entrepreneurs”

Sustainable Practices for Small Businesses: Tips for Getting Started

April 22, 2023

By Leora Price

There’s no time like Earth Day to green your small business, but where do you start? Is
it time to invest in carbon offsets, or would a new HVAC system be a better way to go?

Consumers’ demand for green products and services goes beyond sentiment. A recent
joint study by the global management consulting firm McKinsey & Company and
NielsenIQ found that products marketed as eco-friendly grew 28% on average in the
past five years. Those that didn’t make such claims only grew by 20%.

As with any new venture, making your small business more environmentally conscious
can seem intimidating. With a little reading and a can-do attitude, however, it could be
your business’s time to shine.

If you want to build a Multi-million Dollar Company, start with the end in mind and have a plan

April 19, 2023

By Profit Soup

A good way to build your business value is to start with the end in mind. For example:

- What do you want to accomplish?
- What do you need, financially, to move on after you’ve accomplished it?
- What is your exit strategy?

To create value is to maximize the combined return that occurs throughout your tenure of ownership and when you exit. If you can identify the return you wish to receive both along the way and at the end of the road, you can build a plan to achieve it. How and when you intend to exit the business will determine what you need to accomplish before that day comes.

The Future is Sustainable: How Small Businesses Can Adapt and Thrive

April 18, 2023

By Leora Price

The future is green, but it can be hard to keep up with all of these eco-friendly policies and buzzwords. (What’s a carbon offset, again?) Still, making your small business more environmentally friendly doesn’t have to be an expensive drag. In fact, it might just save you a different kind of green.

Small businesses make up 90 percent of all enterprises worldwide, according to the World Economic Forum, and yet many have yet to invest in sustainability.

At the same time, governments and regulatory organizations around the globe are ramping up environmental, social, and governance (ESG) regulations. The WEF now warns that businesses that don’t go green could soon be left behind.

Common Financial Mistakes Small Businesses Make: Tips to Avoid Them

April 11, 2023

It’s time to organize your small business’s finances — but where do you even begin? If you don’t have a degree in finance or accounting, the task can seem daunting. Luckily, millions of entrepreneurs have walked this path before, and most common mistakes can be easily avoided with a little bit of awareness. Empower yourself with these small business tips to set your business up for longevity.

Mastering Financial Literacy: A Guide to Making Sound Financial Choices as a Business Owner

March 21, 2023

It’s estimated that the average person makes up to 35,000 decisions a day. If you’re a small business owner, you’re likely making thousands more than that — and some of those decisions can either make or break your business. Arm yourself with financial literacy for business owners to ensure every decision you make brings your company closer to success.

What Is Financial Literacy?

Financial literacy is the continued learning and understanding of money management best practices, including budgeting, investing, and saving. It’s a crucial process of self-education that sets you up for financial stability and success, and it applies to both business-related and personal finances.

«‹3 456 7 ›»