Category: Growing a Business

Learn How to Create and Maintain an LLC in Florida

Learn How to Create and Maintain an LLC in Florida

If you have a Florida business, you should choose the best business structure for your needs. The limited liability company (LLC) is one to consider, and this article details more about how to form a Florida LLC. With a Florida limited liability company, you protect your personal assets and realize some great tax benefits.  Read on to learn more about why you might want to form an LLC formation in Florida. Understanding Business Entities Before we look at the benefits… Read More
The Key Steps in Accepting Credit Card Payments for Your Small Business

The Key Steps in Accepting Credit Card Payments for Your Small Business

Accepting debit and credit card payments in your business can help you make more money. The more payment methods you offer to customers, the more likely they are to shop with you. But if you’re new to running your own business, you may not know how to accept credit card payments or what your credit card processing options are. How do you process a transaction? What are the fees? In this article, we’ll discuss the benefits of accepting debit and… Read More
Solvency vs Liquidity: What is Financial Solvency?

Solvency vs Liquidity: What is Financial Solvency?

It’s a pretty well-accepted fact that a lot of businesses don’t make it past their second birthday and the average lifespan of a small business is only 8-½ years. Understanding that, it makes a lot of sense for many small business owners to ask, “Is my business solvent?” or “What is financial solvency?” It also makes sense for a small business owner to wonder, “What’s the difference between financial solvency and liquidity?” What is Financial Solvency? A business is solvent… Read More
Your Accountant Can Help You Build Your Business

Your Accountant Can Help You Build Your Business

As a former small business owner myself, I shamefacedly admit that I didn’t take advantage of my accountant’s expertise and point of view and how it could have helped me ramp up my business much faster than I did on my own. In fact, I’m convinced your accountant can help you build your business—you just need to move from a transactional relationship to a consultative relationship. One of my best friends is a CPA. Although he wasn’t my accountant, we… Read More
What Is the Formula for Cost of Debt?

What Is the Formula for Cost of Debt?

When you take out a loan, your primary focus is probably on having working capital to grow your business or to steady your cash flow. But there’s something else to consider: your cost of debt. If you’re just focusing on your loan’s monthly payment and not diving in deeper to analyze the true cost you’re paying, you might be spending more than necessary on your debt. What Is Cost of Debt? In simplified terms, cost of debt (or debt cost)… Read More
A Simple Checklist for a Successful Small Businesses Budget

A Simple Checklist for a Successful Small Businesses Budget

John McCartney takes budgeting for this small business seriously. Every year he reviews previous year’s expenses for his business, Jmac PR, a tech PR agency that specializes in providing comprehensive PR services to companies in the technology industry, including digital agencies. He then uses that information as a benchmark to help him create a budget for the current year. “I pride myself on being data-driven and intentional about curbing expenses to maintain the financial health and stability of the business,”… Read More