Silicon Valley Bank Failure and the Impact on the Small Business Community

a graph of a rising graph of money
Many small business owners are seeing a flurry of headlines. Much has changed in just a handful of days. Silicon Valley Bank, the 16th largest bank in the United States, has failed. While the situation is fluid, what is most important is that we are in a starkly different environment than in 2008.… Read More

How To Set Your Company Up For Success In A Possible Credit Crunch

Two professional women engaged in a discussion at a desk
As I interact with business owners on a daily basis, I’ve noticed there seems to be no consensus on just how severe of a recession we will see or what the impact will be. Thus far, the effects of a slowdown have varied greatly by industry.… Read More
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How Well are You Converting to Cash?

a person holding money in their hands
Cash is king, nothing new there. In times of economic disruption especially, there are some silent killers relative to cash that every business needs to be on the lookout for and mindful of the potential effects. When we talk about cash conversion, what that means is how well a business is converting inventory (for businesses that have it), and accounts receivable into cash.… Read More
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Tracking Performance in the New Year

a person using a laptop
Last year is wrapped, the budget for the new year is done, and you are ready to execute on the goals of the coming year. Yours may be one of the many small businesses that is already off plan. That could be because the budget process had flawed assumptions, or it could be because the business has not performed to expectations.… Read More
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Taxpayer Beware – The Employee Retention Credit

a white question marks from a string
It seems one cannot get through a day without hearing or seeing an ad for the tax credits that you may be eligible for. I’ve received two voicemails and four emails regarding our firm’s eligibility just within the last week. This is of course promoting the Employee Retention Credit.… Read More
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Paying More Attention to Year End

A person in a suit marks a check in the air
Year end is a scramble for most businesses between the flurry of closing last minute business, finalizing budgets, year-end bonuses, not to mention managing around vacation schedules and the holidays. The end of the year is also a critical time to observe what is going on in the business from a financial and compliance standpoint.… Read More
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The Recession Roller Coaster And Your Business: Questions To Provide A Path Forward

Roller coaster loop with blue sky and sunburst
Like it or not, as a business owner, you bought a ticket on a wild roller coaster. The only constant in today’s economy is information overload, often resulting in seemingly contradictory conclusions. More and more economists are pointing toward a recession, and perhaps a steeper one, yet, small businesses are, in many respects, not yet slowing down.… Read More
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Do Your Financials Match Your Business Narrative?

A hand is gesturing toward a glowing lightbulb illustration
As you’re studying your monthly financials and preparing for year-end reporting, and you find that your financials are not depicting the business narrative you know to be true, it could be a sign of bad accounting. Here are some best practices for reviewing your P&L and determining if there is an opportunity to enhance the accounting practices: Revenue If you’re having a great month and selling a ton of services or inventory, but revenue is not telling the same story, it’s likely revenue is not recorded in the proper period on your financials.… Read More
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Be Prepared for Tough Questions, and Ask Them Yourself

question marks
We are often asked by clients what we expect to happen in the near future. The answer is “uncertainty.” However, that does not mean all expectations are uncertain or that a business cannot plan. We are already seeing certain trends in the market that are likely to continue.… Read More
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Why the Budget Matters

Budget Season Blog
Ah, fall… the weather cools off, pumpkin flavors abound, the leaves change (or so I’m told; the cactus here pretty much stay the same), and for many companies, the start of “budget season”. That’s an accounting thing though, right? Not exactly.… Read More