Best Business Practices
Financial Vigilance: The Business Owner’s Guide to Preventing Embezzlement
Embezzlement is a serious financial crime that occurs when a trusted individual within a business unlawfully misappropriates funds or assets for personal gain. This betrayal of trust not only results in financial losses for the company but also inflicts a deeper wound by breaching the faith placed in the perpetrator. Safeguarding against embezzlement requires robust…
Read MoreWhen to Pass the Baton: Navigating Business Exit Timing
As a business owner, the decision to hand off your beloved enterprise is both momentous and emotional. Whether you’re contemplating retirement, pursuing new ventures, or simply recognizing the need for change, timing plays a critical role in this significant transition. In this article, we explore the considerations for determining the right moment to pass the…
Read MoreDemystifying the Employee versus Independent Contractor Rulings
As business owners continue paving the way through 2024, it is important to keep up to date with the latest regulations, including a final ruling recently issued by the US Department of Labor (DOL) that changes the guidance to determine how workers are classified under the Fair Labor Standards Act (FLSA). The FLSA sets the…
Read MoreStart Your Year Off Right: Improve Value, Profits, and Scalability in Your Company
As a CEO, you already know that to lead a successful company in today’s marketplace takes resilience. No industry or organization is immune to the turbulent, unpredictable, and rapidly changing factors that demand we shift how we approach strategy, innovation, and competition. That strategy shift is not about the quick profits, but creating scalable business…
Read MoreUnderstanding the Beneficial Ownership Information Reporting Rule: FAQ’s For Business Owners
As part of efforts to curb money laundering, increase transparency of business ownership and to reduce other financial crimes, FinCEN has issued a new rule requiring businesses to report the personal identifiable information of their owners. This is known as beneficial ownership reporting. To comply with this rule, businesses must understand who their beneficial owners…
Read MoreWhat is a Good Gross Profit Margin? Tips to Improve GPM and Drive Profitability
As the year ends, it’s essential to keep your business’s financial health in mind. Whether you’re running a small business or a large enterprise, the fourth quarter can be a make-or-break period for achieving your financial goals. The good news is there are several things you can do to ensure that your business ends the…
Read MoreConsidering a Sale of Your Business? Follow these Exit Planning Strategies in 2023
Economic conditions such as high market demand for profitable businesses, labor shortages, and economic uncertainty in the year ahead are bringing many business owners to the point of selling their business. Whether a business sale is on the short-term horizon or a consideration in five years, the sale will be one of the most significant…
Read MoreBusiness Owners’ Road Map to Navigating Post COVID-19 Recovery
Nearly every business across the country is affected by the COVID-19 shutdown. Now that many parts of the U.S. are starting to slowly re-open, you may find that you need to quickly and smartly pivot and rethink your business operations, customer service process, and how to generate revenue. If you’re gearing up to reopen, there…
Read MoreWhat’s Right for Your Business: 5 Strategies To Boost It
In these unprecedented times, all businesses will be facing issues they have never encountered before. Companies find themselves operating in the shadow of potential bankruptcies and significant loss of customers and employees. However, even before the pandemic disrupted the business world, many companies have considered as they evolve, what is the right structure for their business? …
Read MoreFree Cash Flow Advice Sessions From America’s Top CFOs
B2B CFO unveils plan to support privately held businesses during coronavirus pandemic with free cash flow advice sessions and strategic best practices. As business owners grapple with the new reality of a COVID-19 crisis-stricken economy, B2B CFO, a national firm dedicated to providing management advisory services to privately held companies, is stepping up to fill a…
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