Shadow

Tag: Small Business

Business owners need these succession plans

Business owners need these succession plans

Business
For many business owners, family succession planning can be a daunting task. There are a number of variables and individuals to consider in the process. Advisors in different areas of expertise will need to be brought in. Also, what’s the timing for when the plan gets implemented? Again, there is a lot to consider and think about. Here are some valuable suggestions to consider for small business owners, the so-called small and medium enterprises. Not All Children are Entrepreneurial But before the process begins, owners must consider the idea that entrepreneurship does not necessarily pass from one generation to the next. It would be nice to have a child take over the business but that isn’t always the case. In fact according to the SBA, it occurs about thirty percent of the time...
Travel expense forms monitor business spending

Travel expense forms monitor business spending

Business
Travel Expense Forms Monitor Business Spending Managing expenses is a necessary part of any business, but particularly for a small business, due to the need to be extremely vigilant about costs. Reimbursing employee expenses can be expensive, and careful management of these expenses is important. In order to minimize costs, small businesses can maintain expense management systems, to keep track of records and trends. Organizing expenses and reimbursement is generally the same, regardless of the type of travel expense forms used. Expense Management Systems Expense management systems help small business owners organize the process by which employees report, and request reimbursement for, expenses. Travel expenses can add up, particularly for employees that are not careful with a...
Running a Small Business: What You Need to Know That Nobody Tells You

Running a Small Business: What You Need to Know That Nobody Tells You

Business
The highs and lows of running a business may be known to you, but there are many aspects to consider about entrepreneurialism that may not be as apparent. It can often feel like you’re on a roller coaster that never ends, where you experience happiness and total satisfaction, as well as long days, tons of stress, and sleepless nights. The payoff of running your own company and being your boss is certainly worth the hard work and tears, and as much as you can learn or teach yourself, there are a few aspects to business ownership that you can only learn from experience. Here are a few tips on some of the things you need to know about running a small business that nobody told you before. Say goodbye to a work-life balance Yes, every entrepreneur knows running a business isn’t lik...