Most businesses will, at some point, have to take out loans to finance major purchases. It is crucial that any company performing financing put plenty of thought and planning into its financing to ensure the company does not compromise its own financial health.
Here are a few examples of some of the most common financing mistakes businesses make and what you can do to avoid them.
Borrowing more than the business can afford
This is one of the most common mistakes business owners make with their fina...
Outdated or obsolete technology makes your business inefficient. Just as many things in our lives need updating from time to time – from slow technology to the apps on our phones – you also need to look at how you can update your processes to improve your business.
Some companies may not update their processes because they think they can’t afford to buy some fancy new invoicing software or pay a bookkeeper to manage payroll. Others simply may not be aware that better options are available.
Winter is often a slow time for contracting companies. Between poor weather and weeks of family holidays, some businesses may be tempted to close up shop until the spring. Don’t let foul weather foul your business!
Below we explore a few ways your business can stay productive and profitable during the quieter winter months, from offering new services to performing some “winter cleaning.”
Offer winter services
Just as you offer services prime for summer makeovers, think about which services you ca...
The best client a creative agency can have is a recurring one. But you know the drill: you put a lot of work into attracting and onboarding a new client, they love your work and then – what? At best case the account is on autopilot and at worst you don’t hear from the client again.
To keep a solid cash flow at your agency, you want to retain your best clients and keep them coming back for more. Below are our tips for ensuring your clients are satisfied and returning customers.
Deductions are a smart way to offset the costs of managing your small business. These financial breaks are an opportunity to reclaim some of the money you’ve invested in your company over the year; in fact, not taking the deductions is like leaving money on the table.
While tax season is several months out, keeping deductions in mind reminds you to track your receipts year-round, allowing you to be ready for next year. Below we explore some of the most common business tax deductions that will hel...