When you’re starting off in business, your goals are certainly different than when you plan on exiting your business.
Being in business with your family could get tricky. For example, a recent study showed that two thirds of small business owners plan on passing their business down from one generation to the next.
Unless you’ve been living under a rock, it’s clear that inflation is running rampant.
Small businesses are the backbone of America’s economy, with 50% of all employees working in such businesses. However, small businesses face challenges, particularly with cashflow. A recent study showed that 69% of business owners lose sleep or have trouble sleeping due to financial cash flow issues. Stress caused by lack of sleep has been linked to various health issues and can put a strain on relationships. Small businesses are also struggling with high inflation and interest rates, which further squeeze their cashflow. To make cash flow more efficient and reduce stress in their business and personal lives, small business owners need to find ways to utilize their available cash flow properly.
Total household debt is up to $16.9 trillion for Q4 of 2022, and of that, nearly $1 trillion is credit card debt.
When it comes to accessing other people’s money, it’s clear that capital has a cost.
It’s pretty safe to say we all have one goal in common, and that is to eventually retire.
When it comes to business succession planning, a lot of business owners tend to put it off.
Did you know that the number one reason why small family businesses fail is because of lack of planning? Without a proper succession plan, your family business may not last beyond your lifetime. In fact, only one third, 34%, of all small businesses have a robust, documented succession plan. Business owners often get caught up working in their business and forget to work on their business.
Learn how to tackle chronic and cyclical cash flow issues that are inhibiting your business growth. Find out how to maximize your assets and make the best financial decisions possible.