The day to transition the business to a new owner will surely come, whether if by default or by purpose. Overall, just 25% of business owners have done serious succession planning. The reality is that many owners probably won’t be able to sell their businesses when they’re ready, because they’re not taking proactive steps towards… Read more »
Employee theft is more serious than you think—and is rampant in small to mid-sized businesses. It never ceases to astound people that a trusted employee could steal from you. Sadly, most fraudulent activities take about 16 months before they are even detected. After the Enron debacle, Congress passed “Sarbanes Oxley” to tighten the responsibility of… Read more »
The statistics show that a large majority of Americans are not financially prepared for a good retirement. Fortunately, if you’re a business owner, the sale of your business can help you escape the statistics – but only if you properly prepare. Many business owners wait until retirement is close before they start thinking about their… Read more »
Economic downturns are a normal part of the economy, but is your business financially prepared for one? In the good times like we have now, it’s easy to get lulled into complacency and not think about future hardships. But it’s important to fight that temptation and use this time to get ready for a fiscal… Read more »
As a business owner, you know that keeping your finances well organized is important. But the reality is that it can be time consuming to work it into your busy schedule and can start piling up as other more urgent tasks push it to the bottom of list. Then, when tax time comes or you’re… Read more »