Like many business owners, you probably created a business plan when you launched your company. But, as is also often the case, you may not have looked at it much since then. Now that fall has arrived and year end is coming soon, why not dig it out? Reviewing and revising a business plan can…

Author: Robert Newton Succession planning is a process that every business owner thinks about, however, identifying and developing new leaders is easier said than done. According to Business Enterprise Institute’s 2016 Business Owner Survey Report, 79 percent of business owners plan to exit their business in the next ten years, 38 percent have not taken…

You’ve no doubt heard the old business cliché “cash is king.” And it’s true: A company in a strong cash position stands a much better chance of obtaining the financing it needs, attracting outside investors or simply executing its own strategic plans.One way to ensure that there’s always a king in the castle, so to…

Most business owners want to grow their companies. And one surefire sign of growth is when ownership believes the company can expand its operations to a second location.If your business has reached this point, or is nearing it, both congratulations and caution are in order. You’ve clearly done a great job with growth, but that…

If your small business doesn’t offer its employees a retirement plan, you may want to consider a SIMPLE IRA. Offering a retirement plan can provide your business with valuable tax deductions and help you attract and retain employees. For a variety of reasons, a SIMPLE IRA can be a particularly appealing option for small businesses.…

As a business grows, one of many challenges it faces is identifying a competitive yet manageable compensation structure. After all, offer too little and you likely won’t have much success in hiring. Offer too much and you may compromise cash flow and profitability.But the challenge doesn’t end there. Once you have a feasible compensation structure…