Tag Archives: business

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Operational Accounting for Small Business

As small business owner we need to understand the importance of accurate and timely accounting reports where we will need precise financial information to make the very important decisions we make as owners and managers.

Very often I meet small business owners who have put themselves into a pickle by not managing or paying attention to the valuable information provided in many accounting software packages.

Accounting operations to any business, small or large is like the fuel in your car. If you don’t have the right fuel or enough fuel in your car, you will not go very far.

Over the years I am still amazed at how many small business owners fail to see the value in managing the accounting process of their business. I was always puzzled at how small business owners could get away with running their business without even using Quicken or QuickBooks.

I figured it out. Most small businesses grow so fast that some of us don’t have the time to learn if not worry about the accounting side of the business. Why should we worry about accounting when we’ve got orders to fill, customers to make happy and vendors to manage?

Well, the importance of accounting not only lies in the requirement to file and pay the appropriate amount of taxes at the end of the year, but accounting also affords us valuable information in various report formats that allow us to make smart decisions in our small business.

These reports tell us many things about our small business that we would never think of and these reports also allow us to plan the future of our business as it relates to sales and expenses.

Sure some of us have CPAs or accountants that we give information to on a monthly or even yearly basis, where we should be calculating our sources and uses of cash flow everyday if not every week.

Sources and uses of cash is exactly what it says it is. It defines where are money is coming from (sales) and how are we using it (expenses). The reporting document that helps us determine this process is our Statement of Cash Flow. This report actually tells us in a summary format where our money came from and where it went.

Another very important report is the Income Statement report which tells us how much we sold, how much it cost us to sell what we sold, how much we spent to operate the business and finally our profit from all that work.

There are four pieces or elements of an income statement and they are; sales, costs of goods sold (COGS), expenses (fixed and variable) and income. Some small businesses will classify cost of sales (COS) rather than COGS. Costs of sales are for those businesses that really don’t have to purchase items in the raw material form and re-produce it to make it sellable.

For example, as owner of a consulting firm, we identify ours as COS where if we are a plumbing contractor or a manufacturer of wooden chairs, we would identify ours as COGS because we would have to buy plumbing material as well as wood and reproduce both to get a final product to sell.

The next report that is just as valuable as the previous two is the Balance Sheet report. This report tells us what our business is worth via a particular window of time. For example, I want to know what my business is worth today for the last month. The balance sheet would tell me what I own and what I owe.
This report basically has three really important pieces; Assets, Liabilities and Owners Equity. Each of these sections identifies exactly what it says.

Assets are those things the business deems worth something or those things we can get cash for in a pinch if we needed. This section is also the section banks and other lenders measure a business’ worth.
Machinery, inventory and sometimes your accounts receivables are considered assets. Yes, accounts receivables can be converted to cash via a bank loan, but I absolutely do not recommend this for any business. Although many businesses do borrow against their accounts receivable, I would never do it for any of my clients.

Liabilities are those things the business owes such as short-term loans, long-term loans, wages, taxes, etc. Banks measure this as plain old debt and it’s not good to have allot of it.

Finally, Owner’s Equity is that which is owed to people or groups of investors that pretty much have a right to be paid regardless of the success or failure of the business. It’s just that. We have to identify that other individuals or groups have actually invested into our business outside of a typical bank loan.

Is it OK to have both a bank loan and a particular amount of owner’s equity as a liability? Yes it is, as most businesses do. It is estimated that most business in the U.S. is 80% financed via a mix of both.

So great, now we know about a bunch of reports. These reports are available to you through any accounting software package you use, but you must be using an accounting software package because these reports come from the accounting process that puts the information in the appropriate accounts or sections that will eventually produce these reports.

For every sale there is a corresponding affect within the accounting process that will eventually compile data in one of the reports mentioned above and give you the right information to make a decision. Accounting operations allows us to see our successes and failures day to day, week to week and month over month. We need to review these reports often in order to stay in business.

I have seen quite a few businesses go out of business where when you ask the owners what happened, they will all say the same, “we ran out of money”.
Had those businesses paid a little more attention to the accounting process they might still be in business. Remember, accounting in your small business is like the fuel in your car.

There are many programs out there that will help you understand the basics of accounting where all you have to remember is that accounting functions off of a cause and effect principle.

Every transaction in your business must be recorded where that transaction is managed by an accounting software process that basically works behind the scenes. All you have to do is understand what is occurring.

For example; if I purchase $ 25.00 worth of office supplies I need to let the accounting software package know what accounts I want that transaction to affect. Another example would be if I sold $ 200.00 worth of products, I want the accounting side of the business know what I sold via what I purchased to sell.

This last example is a bit complicated and I will save the detail for another article where you should take away the idea that you first recorded the purchase of the raw material, produced something from it, inventoried it and finally sold it for $ 200.00.
Bottom line is that accounting operations is of paramount importance to your small business.

Often we rely on hiring individuals that say they know accounting but how do we know if those individuals know accounting when we aren’t too sure about it ourselves?

There are many programs available to us as small business owners where we can learn the basics of accounting. Sign up for a seminar or take a class at a local college or university. Your small business is just too valuable to not understand it.

Luis Luarca is the Managing Partner of Allectus LLC, a management consulting company helping small to mid size businesses and is the author of Business Management for Business Owners; How to Manage Your Small or Mid Sized Business” . http://www.allectus.com

Small Businesses 3
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Image by Angela Radulescu
A look at how small businesses around the Morningside Heights area are dealing with the current economic hardship.

Flowers by Valli, a small flower shop on Broadway near 112th St.

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Vital Importance Of Small Business Accounting Software

Every business functions through a range of disciplines, sales and marketing, operational skills, purchasing and management. A small business accounting software is also an essential tool to bring financial discipline to the business. No matter how skilled and well trained the business every small business needs a full range of functions to reach the highest levels of success.

The first lesson in business is to ensure that business has sufficient cash to trade the next day. Failing to meet this target and the business is finished which is why accounting and in particular accounting software should be regarded by the small business management as an essential piece of kit.

Small business accounting software comes in many guises some of which will be more suitable for a particular business than others. Nevertheless the choice to adopt a solid form of financial control is vital to ensure sales are higher enough to generate profits, margins are sufficient, costs are controlled, net profits are generated, cash flow is under control and losses can be identified and reversed or halted. No large business would survive without a sophisticated system of financial control and small businesses have the same requirements albeit on a different scale.

Many entrepreneurs who run a small business regard the accounting function and the recording of financial transactions as an administrative burden. Small business accounting software should not be viewed in this way but instead as a tool to assist the generation of safer stringer profits and the early warning system of dealing with problems if the business does not perform.

Use the small business accounting software to update the financial records at least once each month. With sales recorded every month peaks and troughs in performance are obvious and can then be examined to replicate those actions that produced higher sales levels and cut out those actions which produced lesser results. The result hopefully being sustained sales growth.

Record all the costs each month and as with sales the trend to higher costs or more efficient cost control will be evident from the financial accounts. Also of importance will be the profit margin being achieved and this can be viewed against the level of sales and justified. Statistically small businesses run by born salesmen achieve high sales but at the cost of lower margins while businesses run by accountants tend to achieve higher profit margins but with lower sales.

This statistical fact is true as is also the fact that most small businesses are run by neither accountants nor salesmen but by the skilled worker applying their trade or area of expertise. By using a small business accounting software the entrepreneur can judge what he would like the figures to show against what they actually show and take the necessary action to change the future and produce the desired result. Without accounting software the entrepreneur works in the dark depending on hunches rather than financial facts.

No matter how good or bad a business is the cash flow or lack of it might well determine future growth or in the worst case scenario, survival. Many small businesses that do not use a small business accounting solution package and run into difficulties have often been in financial problems for many months before it is obvious as reductions in profitability are hidden by extended credit from suppliers or tightening credit lines with customers.

Small business accounting software can indicate which parts of the business are doing well, where action is needed if underperforming and may also indicate where action needs to be taken. Accurate control of money owed in and money owed out is extremely difficult without the information to know how significant these figures are. But they can be critical for some businesses and using a small business accounting software that provides this information is crucial.

A disadvantage of small business accounting software is that it may sound like a foreign language but it does not have to be so difficult. Accounting software using a database can require some bookkeeping skills to get the most out of the system but there are other alternatives. A small business accounting software solution written on excel spreadsheets that produces all the main requirements with all transactions visible can be an ideal solution for small businesses with little or no bookkeeping or accounting knowledge.

Terry Cartwright is a qualified accountant in the UK designs Accounting Software UK on excel spreadsheets providing complete Small Business Accounting Software solutions for small to medium sized business with

View of Some Virginia Avenue Commercial Buildings
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Image by Universal Pops (David)
[This Clarksville, Virginia commercial buildings set has 13 images.] This is a creative commons image, which you may freely use by linking to this page. Please respect the photographer and his work.

This is a view down a section of Virginia Avenue in Clarksville, Virginia. It shows most of the Clarksville buildings that have been posted separately [see the set]. From left to right: 324, Gino’s Pizza; 316-320, Planter’s Bank; 314, Colonial Revival; 308-312, Hotel Gilliland; 300-304, gray with awnings; 216, white with upper level side porch; 214, Blanks-Sizemore Pontiac. There is nothing architecturally spectacular about these buildings; however, they do show something of commerce in small town America in the first quarter of the 20th century. Clarksville Historc District was added June 6, 2002 to the National Register of Historic Places, reference ID #02000625

This work is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 3.0 Unported License

The 15 Least Profitable Small-Business Industries

If you’re looking to start up a small business, first find out what the 15 least profitable small-business industries are.

Related Small Business Articles

Common Hazards To Avoid With a Small Business For Sale

If you are planning to sell your business on your own, there are numerous pitfalls along the way that you need to avoid. The problem is when you don’t even know how to spot these dangers even if they are staring you in the face. There are two ways to go about the sale of your business: either you market your business for sale online on your own or hire a credible and experienced business broker to assume that responsibility. The first route is more stressful and labour intensive, particularly when you have no prior expertise in the field. The second way is obviously more ideal if you want to sell your business at the highest price in a shorter time frame at little extra effort on your part whilst you continue to concentrate on running your business.

Mistake 1: Lack of planning

Whether you are looking to sell or buy a business in Australia, it’s all about the timing. You will miss an opportunity to obtain the best price if you wait too long or act too soon. Perfect timing takes careful planning. The important thing is to never be impatient. On average in the current market it takes 6 months to a year to sell a small business. Even putting your business in the hands of a really good broker doesn’t guarantee a quick sales because there are too many external factors to consider.

For example, you should have a good record-keeping system so when it’s actually the time to sell, you won’t have to go back through a mountain of paperwork or incomplete data just to show the status of your business at the time of the sale.

Mistake 2: Trying to take on too much

Just consider the task involved. You will have to carefully prepare the listing of your business, design an advert or some brochures, come up with proactive measures to aggressively market your business, available be always when the prospective buyer comes to call, contact a tax professional or legal counsel to handle the paperwork, and spruce up the place to add value to the property. Even then, there’s no guarantee you are going to get the maximum possible price for your business. These days most marketing takes place through sophisticated and professional websites most of which are not available to the general public, which means you will often miss the opportunity to reach the target market.

If you can’t make heads and tails about the business for sale market, taking on too much can be very dangerous indeed. Do notget too caught up about the broker’s fees because a professional broker can often obtain a higher price in the market which will more than pay for these costs when you put up your small business for sale. It’s the classic case of failing to see the forest for the trees.

Mistake 3: Jumping the gun

Jumping the gun is an idiomatic expression to denote over-eagerness. Just because somebody makes an offer does not mean you should immediately accept it. This is the most common mistakes by first-time sellers who did not hire the services of professionals.Knowing how to negotiate to obtain the best deal is very important when you sell one of the largest assets that you own, your small business for sale.

Victor John is an expert author and has years of experience in small business for sale, Online Business For Sale & buy business in australia

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How to get the most out of small business phone system?

Opening up a new business and establishing it in the world so crowded with entrepreneurs is not as easy as it might look. It is important to go for something easy and cost effective for the development of communication systems within an organisation and this might be getting on with the small business phone system. This is a new way of getting the communication done in your offices especially if you are a startup company. Small office phone systems are a huge hit even among the big organisation because they save you a lot of money and come with great deals and discounts.

Phone systems for small business are easy to install and help you get through the problem of free flow of communication easily. This is because even the government connections provide huge benefits over the installation of such devices. There are many examples like the VoIP system of communication also known as the IP telephony where long distance video calls can be made at cheaper rates.

With the help of VoIP technology you can share faxes and video files while talking on the phone simultaneously so that the communication process becomes easier and more understandable and reliable. The phone office systems include huge challenges of making the data getting transferred at the right times and also in the right ways so that the person at the other end is able to understand the entire communication easily and interpret it in a way in which you really wanted.

There are many communication system providers available in the market, but the main concern is the cost effectiveness of these available connections. Since government is also helping the medium and small businesses to venture out on their own, this is why the government organisations also have provisions of making it easier for the small and mid-size business to come up on their own. Thus, government also provides cheaper telephone connections for medium sized and small businesses so that they can stand on their own and make something for themselves and the people they employ.

If you want to make good in your business then ensure one thing that you cannot cut the ways in which communication happens at all levels and if you do that then only you will be at loos. Cutting down on the communication system will create misunderstanding, misinterpretations and a complete chaos in your organisation because wherever the communication will stop flowing the misunderstanding will start growing and it will further create deeps holes in the entire work flow of our organisation. So for the best of everyone and everything in your organisation make sure that you go for small business phone system and turn a small organisation into a big one.

Command Business communication is Australia’s Leading provider ip phone and data cabling and business voip.

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Image by kevin dooley
Small business.

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Small Business Coaching: Are You Ready To Become A Success Story?

Small business coaching is hot. A few years ago the only coaches anyone talked about were sports coaches. But today, PriceWaterhouseCoopers estimates that there are 30,000 business and life coaches worldwide.

Thousands of small business owners and managers turn to coaches every day to improve their personal skills and business results. You can, too. But first you have to determine if you’re ready for coaching. Then you have to select the right coach.

Are you Ready?

Rosa started her business out of her home. She made money, but not as much as she felt she should. She was frustrated that she couldn’t find time for her family. That’s when a friend suggested that a small business coach would help.

That’s a typical situation. Most small businesses owners don’t start out using a coach. They usually come to coaching when they’ve had some success and when they know they could have more. They usually come to coaching when they’re ready to listen and when they need a little knowledge and a little nudge to do the right things.

The best coaching in the world won’t help you if you’re not ready to be helped. So before you go hunting for a good small business coach, answer the following questions.

Are you ready to listen to the things you need to hear? A good coach will ask you about things you haven’t thought of and push you to think outside the box. That’s often scary.

A good coach may also tell you to change the way you do some things. That’s hard for many small business owners because it means admitting that you’ve made some bad decisions and choices.

Are you ready to take a hard look at your business? Even the best coach can’t help you if your business can’t deliver quality to enough people at the right price. Sometimes a business simply can’t succeed because the market is too small or too hard to reach.

Are you ready to pay the price? Coaching does not come without a price. You will pay a price in both money and time. You may even realize that you need to invest in new things for your business.

Coaching is not a magic bean. You have to work at success every day. I tell my clients that “success is based on persistency and consistency, not magic.”

You’re ready for coaching if you see coaching as an investment in yourself and your success. Your next challenge is to find the right coach for you.

Choosing the Coach for You

Great coaches, like great chefs and great football players, are rare. And, sometimes, even a great coach is not the right coach for you. Here are some ways to evaluate coaches.

Look for a coach who’s run a small business. Before I started coaching I built two successful small businesses. I’ve really “been there and done that” so I know what my clients are going through.

I also use coaches myself. The ones that work best for me have small business experience. Small businesses are different from big businesses and you need a coach who understands the special challenges.

Look for a coach who’s been doing it for a while. My job as a coach is to help you know what to do, but it’s also to help you do what you know. It takes time to learn to coach well.

Look for a coach who won’t nickel and dime you to death. It seems to me that there are two kinds of coaches when it comes to billing. There are coaches who charge you by the minute, hour or session. And there are coaches who are always accessible or available for short conversations between sessions, if needed without piling on extra charges. I find the latter works better for my clients.

Look for a coach that you’re comfortable with. Successful outcomes demand a productive relationship between you and your coach. It won’t work if you feel talked down to or belittled or if you feel like your coach doesn’t care about you. If you feel any of those things, look for a different coach.

Look for a coach who’s picky. The best coaches are selective about the kind of clients they work with. We expect a lot of our clients and we limit the number of clients we work with so we can concentrate on helping each one succeed.

After some soul searching and some research Rosa started working with a small business coach. It wasn’t always easy, but together they found ways to help Rosa’s business grow and help her reap the benefits of success. They took her business and life to a whole new level.

It can happen for you, too. If you’re ready, if you’re willing to embrace change and if you’re willing to pay the price, a small business coach can help you become an amazing success story.

David Mason is President of Mason Performance Development Inc., and author of Marketing Your Small Business for Big Profits. Visit Your Big Profits and sign-up for The Performance Development News, a weekly ezine with free marketing tips.

Schulsportplatz Hummeltal Luftaufnahme
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How to Succeed with Your Own Small Business

People who want more freedom and prosperity in their lives are very attracted by the prospect of starting a small business. But not anyone has the skills and the determination needed to succeed in such an endeavor. There are some things that must be researched before starting your own business.

Let’s start with the goal of your business. The standard definition says that a company is an organization made up by one or more persons which strives to obtain a profit by economic means in general. A business is to be considered a small business if it meets certain criteria which refer to: hired personnel, the income, and how it is organized and operated.

The role that small businesses play in the global marketplace today is enormous. Usually, the smaller a business is, the smaller its’ potential geographic market is. Still, small businesses are the gem that forms the great majority of all businesses, and it can rightly be called the “locomotive of competition.”

The competition between small businesses has as its central focus the services or products they deliver to their customers. The quality of those products and services is paramount in competition. Prices are in actuality merely a secondary consideration when it comes to competition factors.

Virtually any small business must overcome some very real challenges if it is ever to become successful. The most important one seems to be the lack of a well-trained work force. As challenging as skilled employees are to find, accessing the funds needed to start a small business may be even more difficult. In addition, small businesses will never succeed without developing and implementing a solid infrastructure.

One of the most important categories of small business initiation and development in the past few years has been the high tech marketplace. Small businesses operating in this realm usually create and implement technical innovations and contribute to improving quality of life. They have enormous potential in job creation and affect the economy and quality of life of millions of individuals world wide.

Also, with the internet revolution, the number of small businesses accessing it has grown very fast over the last decade. Other means of communications are: cell phones, e-mails, computer networks, etc.

The internet provides small businesses with an easy, low-cost means of communicating with employees and clients world-wide. The World Wide Web is a crucial tool to today’s small businesses, whether they are internet-based or not. Implementing today’s technology into efficient business operation is just one way small businesses can help themselves survive and succeed.

It takes more than a dream to start and grow a successful small business. Careful research and planning are essential, but it takes action to really make the dream come true. If you are not driven to work long and hard preparing for and working at a small business, then starting a company is not for you.

If you have the determination and commitment to succeed, don’t let the lack of management training stop you from starting your own small business. With research and persistance, you can learn all you need to know. Start by creating a solid business plan and proceed to design a marketing strategy. Then you will be ready to start on the road to successful small business ownership.

Resources, tips and guidelines for starting your own internet business:
Online business.
http://www.onlinebusinessspot.com
Breaking news and the latest reports affecting the business world:
Business news.
http://www.businessintelligencehour.com

Mark Schultz small business award
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Image by NAVFAC
Mark Schultz, environmental director for Naval Facilities Engineering Command (NAVFAC) Midwest and Navy Region Midwest, receives the Oreta B. Stinson Small Business Advocate Award from Rear Adm. Doug Morton, commander, NAVFAC Atlantic Aug. 22. Schultz was co-winner of the Navywide award for his efforts to ensure small businesses receive a fair share of environmental contract work in the Midwest. In 2012, NAVFAC Midwest contracted with small businesses for more than 80 percent of its million in environmental work. That work included laboratory support, regulated waste management and other compliance services, restoration projects and other specialized technical environmental services. (U.S. Navy photo by Bill Couch/Released)

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Your Guide-Small Business Startup Kit

A small business startup kit can be a helpful medium if you need help for starting to establish your own business. With all the stressful and intimidating events that go along with beginning a new business, this business idea list can help you manage some of your anxiousness related to building a successful business career. This also provides you an important checklist of information that is needed to your particular business. And, will also help you for your important decision on where, how to start as well as the questions to ask yourself before implementing your new business endeavor. So, there is a need for you to have a well-designed small business startup kit , so to help you step back and look at your business to be sure it has the potential to acquire success.

If you like to get a great set of information regarding your chosen business that you want to begin operating, then, look for small business startup kit. You can find such thing that deals with just about any small business venture you can visualize of. Not few of these kits have contracts, agreement, and legal forms to help you to be able to fallow government and policies that have bounds to your chosen business. You can also, of course accumulate relevant and most accurate information about on how to handle business in your area.

Aside from that, you can find on several websites and companies that offer a start up business kit that is designed for the business that you need to start. For example, if you want assistance on starting a small business for cleaning houses, you can search information related to this in the internet that specifically developed for your needs. Really, there are several websites that gives essential ideas about starting your own and this includes how to market your products and/or services. Also, knowledge on how to train newly-hired employees, effective, dynamic and competitive management, and also offer you hint on how to handle your business brings it in the right tracks over others’ business rapid-growth in this arena.

This kit will also give help for you get the permits and licenses you need in order to operate a business in your area. Commonly, legal contracts and forms are integrated in your small business startup kit so that you are able to operate your business legally once you set-up the proper paperwork. This also includes information regarding errors others have made and advices coming from people who have experienced the same business that you planned for operating. You can utilize their stories, testimonials, as a spring of inspiration and as a medium to avoid similar problems they had that may come along the way. There is also sections of this kit that is intended for American Tax Law so you can be guided by this over several implementing rules and regulation abounding the type of business you want to get in.

Another thing is, this small business kit is also packed with essential information regarding contracts and copyrights that you may need for your business.

If you want to have small business solutions, you can turn to this small business start up kit as an inexpensive alternative guide for your business.

You must always remember that starting your own business can be both confusing and frustrating. So, you are in need to be guided by guidelines that have scope for your chosen venture. Though, you can find several resources to help you in your new venture, always remember to consider this small business start up kit for it is an ideal product, and you will find a essential information to help you succeed. It will even offer you with low cost business ideas to help you stick within the bounds of your business budget. With this kit, you can be well on your track to having a successful and prosperous business.

Businessmen usually get overwhelmed by many things that they have to do to be able to operate a business of success. With a small business startup guides, you can get much of the information you need as well as some important materials for acquiring success in your business venture. You can also find ways to stay within your budget, which is in the lowest cost business ideas and techniques to help you save money on business expenses. A small business startup kit is a powerful tool for helping your business dream turn to reality.

Stephen C Campbell (MBA, MSc) is an international internet marketer and as published more information on business, niche marketing and market segmentation at http://www.winningintheniche.com/

Still Waiting
small business
Image by MTSOfan
I’m cleaning up the photos on my laptop’s hard drive. Just realized that I’d never posted this one.

We arrived at the "Guitar Barn," a small business, back a long, country road. Pulling into the driveway, we found that it was closed that day. A shot of this old Adirondack chair served as my consolation.

Related Small Business Articles

Understanding Small Business Credit Cards

When you are searching for small business credit cards, you want to protect yourself from wasting money. Wasting money can have your business in bankruptcy in no time.

The major things you should search in a small business credit card are competitively low interest rates, generous credit lines, and of course, good customer service. You do not want a card with a high interest rate, particularly if you carry a balance on your credit card and do not have the time to sit on hold to talk with customer service if you have a problem with the card.

Do some investigating prior to applying for the card by calling customer service in advance. Be sure they are friendly and courteous. Ask them about how they handle late payments. You should try your best to find a small business credit card that is flexible especially if you are just starting out in your business.

While searching for small business credit cards, do not just look for those great introductory offers that may be a great deal for a few months only to lower the boom on you later. You may see that you can get a small business credit card with a 0% interest rate and even 0% balance transfers, however, this interest rate may only be good for the first three months and, more than likely, you will be charged a higher APR for purchases over and above your initial balance transfer. So be sure to read all the small print, including all of the terms and conditions prior to making your decision.

Some of the companies that are now offering small business credit cards have teamed up with other well-established retailers and merchants to give your business other great rewards and discounts on such items as office supplies or shipping costs.

Here are two wonderful credit card companies that offer some great things for small business credit cards. The American Express Business Gold Card has no annual fee for the first 12 months, no set spending limit, savings with leading merchant suppliers such as Hertz and FedEx. You can earn points that can be cashed in for rewards, manage your account online and car rental loss and damage insurance. In addition, the CitiBusiness Platinum Select Card offers a liberal credit line, low interest rate on purchases, free cards for employees, and free 24/7 concierge service.

The best resource for finding small business credit cards is by searching online. You should be able to find more than one website that compares all the major small business credit cards by interest rate, APR, rewards, balance transfers and more. This way you will be able to make an educated decision on which small business credit card is best for your company. The one thing to remember before applying for a small business credit card — be absolutely sure that you have read all of the card’s terms and conditions so that you may avoid any unpleasant financial surprises down the road.

For more on how to use small business credit cards to take control of your business, Robert Alan recommends that you visit CreditCardAssist.com.

Small Business Administration Awards Luncheon
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Small Business Administration Awards Luncheon. by Jay Baker at Baltimore, Maryland

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Small Business Credit Cards Offer Businesses Crucial Edge

So, you say you have got a small business and you are looking for a credit instrument that could tailor itself to your business requirements? Well, your search ends here. Small business credit cards fit right in, helping you separate business and personal expenses.

A study by the Tower Group reports that two out of three small businesses use a small business credit
card for purchasing and financing. So why are they so prevalent? Credit cards for small businesses offer business owners a crucial edge allowing them to expand or limit the growth of their business, as needed, providing the flexibility necessary to match their company’s growth needs.

Help with Your Cash Flow: The best use of borrowed finances is to assist with month to month cash flow. Small business credit cards help you get the much needed credit to help your business grow while providing a margin of safety for your cash flow needs.

Maintaining Independent Accounts: Mixing your personal and business transaction accounts could lead to poor money management and potential tax problems. With a small business credit card, you’ll be able to maintain separate accounts on your personal card.

Help Balancing Your Books: This one is thrown in for free. With your card company maintaining an ongoing transaction record, you will have a convenient record of all transaction items that can be reconciled at tax time. Simply have the credit card company provide you an itemized list of all purchases made using their credit card and you’ll have some built-in transparency on all of your spending activities and financial accounts.

Build Your Credit Limit: Small businesses looking to expand need capital. You card provides your business with an opportunity to build your credit limit with consistent use and repayment over time. Access to more capital offers financial muscle to help grow the business, providing larger income opportunities for the small business owner.

Pre-Set Employee Spending Limits: For businesses wanting to keep a tight watch over their finances, these cards usually offer preset spending limits for employees, providing an excellent check and balance system for all your company expenditures.

Take Advantage of Special Offers: The competitive market has forced credit card companies to throw in special discounts and rewards programs. By examining the travel and entertainment requirements of your company, you will be able to grab offers that can help reduce your expenses through the use of reward point systems.

If your existing business partners provide a small business credit card, it is probably a good idea to stick to them as you are more likely to get favorable rates and credit lines with an established credit line. Late payment and other such penalties will have to be borne by the company and not the employee. Therefore, give cards only to employees you absolutely trust and only provide credit limits that are in line with their expenditure requirements. Make sure the card you choose is widely accepted so that it helps meet everyone’s expense item needs.

Small business credit cards are quickly establishing themselves as an efficient way to increase capital and buying power for small businesses. While this calls for responsibility in its management, a small business credit card could go a long way in changing the face of your business for the better.

Robert Alan recommends that you visit CreditCardAssist.com for more information on how to use small business credit cards to take control of your business.

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A look at how small businesses around the Morningside Heights area are dealing with the current economic hardship.

Liquor store on the corner of Broadway and La Salle St.

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The Importance of Having a Small Business Opportunity Magazine

Everyone wants to get rich quick, and a lot of people feel that having a small business is a great way to do this. You can work for yourself, work hours that are comfortable for you, and you can be the boss for once. You can truly find the things in life that matter to you, and you can work around these things, or even incorporate these things into your life.

There are so many things that you can do for yourself if you are a small business owner, but it is important to know that as a business owner you are going to have to compete with people all over the world, and with businesses that are much bigger than you are.

There are many things to know when you own a your own business, and sometimes it is hard to get them all straight, or even to pick up on them all. That is why it is very important that you find a small business opportunity magazine that you can trust, and make sure that you are always reading it.

There are many things that a small business opportunity magazine can tell you that you might not be able to figure out on your own. It can let you in on secrets that you might otherwise be unaware of, and it can be a great way to make sure that you are serious about the business are you are following the news. There are so many things that these magazines can tell you.

First of all, a small business opportunity magazine is a great place to look for the actual small business opportunities that you might want to invest in. Usually there will be a lot of information about different small businesses, and how you can make them successful, and these things are going to be prevalent in the area which you are interested in. You can get as much information as you need from these magazines and use this information to decide if the small business is a good investment for you or not.

You can also get tips for your own small business from a small business magazine. They can give you all kinds of tips, from ways to manage and keep your employees, to how to make a business plan and employee manuals that are actually going to work. A small business opportunity magazine is going to give you much information that you can actually find useful. It can be a great way to network with other business owners as well, which can allow you to get even more tips and information that you need when it comes to your small businesses and what you are going to do with them to run them better.

Michael Laleye Is A Plug In Profit Site Member As Well As An Authority On Developing Small Business Opportunities. Get more Information On How To Build Your Own Small Business. For Small Business Opportunities To Make Money Online, Visit: http://www.MyAffiliateStarter.com

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