Inflation, stagflation, recession. While it may sound like doomsday has arrived, there are some things you can do to prepare your business for recession.
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With inflation soaring to 8.6% in May, every business owner, no matter the industry, should update forecasts with the assumption of higher costs.
There are two things that you can do as a business owner to prepare for inflation and protect your profit. The first thing is to monitor costs and secure your prices from suppliers, either over the short-term or long-term. The second thing is to raise your prices.
Now is a better time than ever to get your business spending under control. Unlike most accountants, we like to focus on growing your business but certain times call for cost-cutting measures. Better yet, if you can cut your monthly business expenses as you’re growing then you’re creating a great capacity to scale.
It’s not uncommon. Because of inventory needs, we often see entrepreneurs struggling to increase cash flow for ecommerce businesses. Here are 6 ways to start:
ercoming a fear of heights and living in the moment are just a few ways our outsourced accounting manager, Angelica Pierzchala, keeps life interesting.
Once your business reaches a certain size, it’s probably time to consider some.
Having accurate and reliable financials is the best way to make informed decisions for your business.
While some entrepreneurs may try to manage their own books at the start to save money, bookkeeping can quickly fall behind when the business starts to scale or focus gets pulled away by other growing priorities.