Category: Running a Business

24 Ways to Improve Cash Flow for Your Small Business in 2024

February 3, 2020 Jennifer Lobb

Jump to SectionShareFacebookLinkedInTwitterShare LinkCash Flow vs. ProfitCalculate Cash FlowImprove Operational CostsImprove Payment OptionsInvest in MarketingOrganize Your FinancesHow Nav Can Help While there’s more than one way to evaluate the financial health of your business, few are as closely related to success or failure as negative cash flow. Cash flow is the net amount of cash that flows in and out of your business. Cash flow management is essential for long-term growth. But how do you go about it? The most… Read More

In Accounting, Why Do We Debit Expenses and Credit Revenues?

January 22, 2020 Susan Guillory

You didn’t go into business to become an accountant, so it’s understandable that you’d have questions like, “Are expenses debit or credit?” In short, because expenses cause stockholder equity to decrease, they are an accounting debit. It’s helpful to understand why, so learn what you need to know in this article. Understanding Debits and Credits Let’s start with some basic Accounting 101. We may have moved away from “managing the books” in an actual paper ledger and painstakingly entering each… Read More

An Employer’s Guide to Fringe Benefits

January 10, 2020 Gerri Detweiler

Fringe benefits are a way to compensate employees in addition to wages or a salary. Fringe benefits can be part of a salary package or a group of benefits that supplement wages. For employers, fringe benefits can entice and keep top talent. The more benefits you offer, the more likely potential employees will look at your company as a desirable place to work. They can also help supplement employee’s wages in a competitive job market. McKinsey & Company’s 2021 Employer… Read More

Profit and Loss Statement (P&L) Definitions & Examples

January 8, 2020 Michelle Black

A profit and loss (P&L) statement is a report that details a company’s revenue and expenses over a period of time (usually a quarter or fiscal year). The profit & loss statement, also called the income statement, shows whether a company lost money or made a profit during the reporting period. Let’s explore what a P&L statement means for your business, why you need one, a profit and loss statement example, and three free templates you can use to create… Read More

6 Tools to Set Your Business Up for Success in 2022

January 3, 2020 Jennifer Lobb

There are multiple factors that contribute to the overall success of a business, and while some of them are directly tied to your effectiveness as a business owner– motivational level and overall attitude and acumen, for example – many others depend on how you leverage resources to maximize efforts and increase productivity and organization. In today’s diverse workplace, that often means incorporating tools and apps that make working easier and smarter. Fortunately, there are a variety of easy-to-access and affordable… Read More

The 9 Small Business Conferences You’re Missing Out On in 2020

January 2, 2020 Linsey Knerl

If you ask small business owners about their favorite ways to grow their sales and get new customers, they almost always include networking somewhere on that list. That’s because it’s just that effective. But sadly, networking opportunities and small business development efforts can be pushed aside in the busy day-to-day of running a business. That's where small business conferences can come in. While they can be an efficient way to get industry insights, learn skills, or find vendors, it's the… Read More