How to Get Small Business Loans With Ease

Learn how to secure small business loans without stress. Securing small business loans is not as difficult as the way people think. You only need to understand what the banks want before they grant small business loans. If you master and meet the banks requirements, it will be easy for you to get loans for your small business. There is no gainsaying about the roles finance plays in small business. If you ask any small business owner what his challenges are, he will likely mention finance among others. Of course, there are different ways a small business can finance its operations. This Continue ReadingHow to Get Small Business Loans With Ease

Working Capital Management in Small Business (Part 2)

Availability of working capital is necessary to keep the business going. I started this series with Working Capital Management in Small Business (Part 1). This is the continuation of the topic. With the understanding that working capital is the difference between current assets and current liabilities, it becomes easier for you to come up with strategies on how to improve your working capital. We shall look at some elements of current assets and current liabilities and how you can manage them so that you can maintain positive cash flow. Current Assets Inventories: What constitutes your inventory will largely be determined by the Continue ReadingWorking Capital Management in Small Business (Part 2)

Working Capital Management in Small Business (Part 1)

Your working capital management skill will reflect in the liquidity of your business. Before your read this article, I suggest you first read my previous article on “Preparation of Financial Statements for Your Business”. Without the knowledge of financial statements, it may be difficult to understand this article on working capital management.  With your understanding of financial statements, it will not be difficult to quickly grasp the meaning of working capital. Working Capital refers to that part of the firm’s capital, which is required for financing short-term or current assets such as cash marketable securities, debtors and inventories.  Working capital is the Continue ReadingWorking Capital Management in Small Business (Part 1)

How to Choose the Right Accounting Outsourcing Firm

The benefits of outsourcing are dependent on the person or firm you choose to handle the functions for you. If you have read my previous article entitled I mentioned in my previous articles “Accounting for Small Businesses”, you must have seen the need and benefits of outsourcing your accounting functions. If you have not read it, I recommend that you read the article first. However, I mentioned that it is not automatic that you will stand to enjoy all the benefits of accounting outsourcing. The benefits are dependent on the person or firm you choose to handle the functions for Continue ReadingHow to Choose the Right Accounting Outsourcing Firm

Outsourcing of Accounting For Small Businesses

Accounting for business transactions is a must for all businesses whether small or big. We understand that a good knowledge of accounting is needed for accounting, record keeping and the preparation of financial statements of your business. Unfortunately many entrepreneurs do not possess this skill. Few entrepreneurs with accounting skills do not have enough time to write their own books. It is possible that their businesses have not grown to the level whereby they can employ a skilled person to carry out the accounting for them. If that is the case, accounting outsourcing can adequately bridge the gap. Accounting outsourcing Continue ReadingOutsourcing of Accounting For Small Businesses