Consulting helps small business owners see more clearly the reasons for the pains and challenges they face. This clarification opens new roads and opportunities to make changes and grow your business to the next level.
This month’s case is one I see too often. Fast growth, but not the best credit nor having the time to check for other options… leading to the mind set… get it done so we can move on.

A business balance sheet tells the financial story of a business at a specific date (it’s a snapshot of your financial condition). Bankers, accountants, investors and business owners use them. Some better than others.
Basically, the balance sheet of a business shows your assets (things you own), your liabilities (what you owe others) and equity (the difference of what you own, less what you owe), what’s yours.

There is a reason our economic system is called Capitalism – capital is one of the pre-requisites for surviving in the system. There are two forms of capital that, while related, are different things.

The first form is “outside capital” such as borrowed money or money put into the company by investors. The second form is “capital as business equity” or net worth. Whether you are a commercial business, non-profit or social enterprise, getting a handle of both forms of capital is vital.

It is hard to believe 2007 is winding down. We now enter a busy time of the year for most business owners and managers. Wrapping up the financial side of the business and getting ready for a new year to start.

In addition to everyday close out of one year and starting a new one, comes the dread of the tax man. Payroll, State and Federal Taxes will occupy much of time at year end and the start of the new year. If you have employees the month of January can become extremely busy trying to get out W-2’s, not to mention vendor 1099’s.