Last week’s post on trend analysis explained how you can grow your business by looking outside of it. This week, we’ll look at benchmarking, another growth method small businesses can use. Benchmarking is the quiet, shy method of the two because you must look inward to compare your progress to your competition. Today, let’s look… Read More

The pace of today’s business keeps getting faster, putting more pressure on small business owners to stay profitable and competitive. Sometimes keeping up with larger businesses can seem overwhelming, but trend analysis can help level the playing field. When done correctly, it can be a game-changer because it can help small business owners identify patterns… Read More

Small business owners have a lot on their plates, making it easy for them to fall prey to tax myths and misconceptions. But this can lead to costly mistakes and lost opportunities, so today, we’ll debunk some of the biggest tax myths small business owners face. And, of course, you’ll get the inside track on… Read More

The options for retirement savings can be complicated, but one option is so simple it’s literally built into the name.  The Savings Incentive Match Plan for Employees Individual Retirement Account, or Simple IRA, is built for small businesses and self-employed individuals. And it really is straightforward. So, let’s dive into the pros and cons of… Read More

“There are three things you need in life: an accountant, a fishmonger, and a bail bondsman.” – Guy Fieri It’s hard to say if celebrity chef Guy Fieri is right about all three of these things. But one thing is certain. If you are in business, you would probably benefit from having a Certified Public… Read More

Most entrepreneurs view owning a business as part of the American Dream. And one way to share that dream is with Employee Stock Ownership Plans or ESOPs. That may be a clumsy acronym, but it is a graceful way to incentivize employees by building their wealth and yours through a collective effort. It also has… Read More

Last week’s post discussed mergers. Unlike mergers, acquisitions don’t create a new legal entity. Instead, one business buys another and assimilates it into its own. Today’s post will give an overview and some resources on business acquisitions. So, it’s time to dig in if you’re in the market to buy a business or sell yours.… Read More

(Oct. 10) Feeling the urge to merge? Read this first. When we hear the term business merger, it can bring up visions of tons of attorneys hashing out complex plans in a giant boardroom. But mergers aren’t just for big business. There are plenty of reasons small businesses might choose to consider one. Today, we’ll… Read More

Business succession planning can be a little hard to discuss. Talking about the next steps in life tends to have a particular element of morbidity. The heavy memento mori vibe aside, every business owner should have some exit plan for their business. The lack of a business succession plan can create tax heartaches for your… Read More

Internal financial controls can be the foundation of a good business. And they are often at the heart of the risk assurance process because they deter fraud and soothe investors. For the last installment in our risk assurance series, let’s look at these internal financial controls. We’ll examine what they are, some of the more… Read More