Business Resources Library

Viewing Category: Financial Management
Interim Financial Statements: What They Are and Why Your Small Business Needs Them

Two significant financial challenges that small businesses frequently face are cash-flow and liquidity issues, and without a solid grasp on financial management, many small business owners find themselves making difficult and costly decisions out of stress or fear. There are many tools that can help you better manage your finances to ensure that your business stays strong, and among the best are interim financial statements. In this brief article, we look at ways in which interim financial [...]

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Building Financial Stability as a Small Business Owner

This article is a guest post from Fit Small Business Behind every successful business is a responsible bookkeeper reviewing the finances and making budgetary decisions. Oftentimes, that bookkeeper is also the owner, marketing team, and Human Resources Department. Without financial stability, your company could spend a lot, go broke, and end up having to close your doors. If you don’t have a background in accounting, you can still enjoy relative financial stability. Keep these steps in [...]

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Working with a CPA

Your small business’s financial statements are like diagnostic tools that provide information on the health of your business. That’s why it’s not only critical that you understand them, but that you also work with a certified public accountant, or CPA. CPAs can ensure that your financials are accurate and advise you on ways to make your business more financially strategic and profitable. In this article, we dive into the role of a CPA in your business, and key questions to ask [...]

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How to improve your personal credit

While business loans are technically made to businesses, most lenders will review your personal credit history when you apply for a business loan. A personal credit score provides a more accurate picture of your ability to pay back your debts, especially if your business has not yet established a business credit score. Given this, if your personal credit history has some weak points, you’ll want to take time to improve it before applying for a business loan. What lenders look for in a [...]

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Top 5 Items to Include in Your Growth Plan

Successful business owners know that a business plan is essential – it guides decisions early on and focuses investments later. What many business owners overlook is the value of also developing a growth plan. In this brief overview, Excelsior Growth Fund’s Business Advisory Services team reveals why a growth plan is important and what to include in yours. Key differences between business plans and growth plans While a business plan contains all of the key information needed to [...]

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