Small Business Finance

Total Cost of Ownership (TCO)

All too frequently, business owners mistake total cost of ownership with price. However, TCO should be a method of drawing attention to the difference between price and what the project’s costs will be over the long term. Price is only a single part of the analysis performed for total cost of ownership calculations...

Zero Based Budgeting

Zero based budgeting is a technique that is practiced by justifying all expenses for each designated period of time. It begins with a base of zero and then performs an analysis of every function of the company so that an understanding of its requirements and expenses can be determined...

Small Business Budgeting

When you start or buy a small business, even if you are an expert in your own industry, bookkeeping and budgeting for small business may still not be your strong suit.  Fortunately, while you may be a beginner now, with the right techniques it won’t take you long to be able to come up with an appropriate and workable budget that will give you a good concept of how your money will be able to work for you...

Budgeting Explained

Many people consider budgeting a process that is practiced only during hard times.  It brings about thoughts of struggling businesses, job loss, or a hurting economy.  It is considered to be an unpleasant practice that involves stretching every penny and struggling to cut away any excess costs.  However, the practice is a great deal broader than that.  In fact, it is the foundation of any solid financial plan for businesses and individuals...

Credit Card Machines for Small Business

The trick to getting the most out of credit card machines for small business is to make sure that you are choosing the right one.  Have a look at the 3 top credit card machines for small business to help you to make the choice for your own company...

Presenting to Investors

First of all when you are preparing to present your business to investors try to understand investors in general, how they think and make decisions and in addition it is good to know the people you are presenting to so the more you know the better and more effective your presentation will be.

Cost Volume Profit Analysis

Cost Volume Profit Analysis is a very handy business management tool for analyzing small and large businesses. Cost Volume Profit Analysis allows you to test different business scenarios and perform what-if analysis based on your business cost, volume (quantity sold) and profit. Why is Cost Volume Profit Analysis useful for your business and why you should use it?

SBA Loans

Understanding the SBA Loans is very important and it is the first step you need to make. This means understanding the process of getting a loan and understanding the role of SBA. SBA or the US Small Business Administration is a government agency which assists small businesses through its loan guaranty program. The SBA loan guaranty program offers financial guaranty to qualified small businesses which helps small businesses obtain financing from the private sector. Every year SBA guarantees billions of dollars and helps thousands of small businesses to obtain loans.

Excel Dashboard

Excel Dashboard: Create Professional Excel Dashboard Reports with ready to use Excel Dashboard Templates. Download and develop your executive business reports in few minutes. Excel Dashboard Reports are easy to use and can help you visualize your business, save you time and effort...

What is Cost Allocation?

Cost allocation is a method to calculate cost of products and services produced for internal and external customers. Cost allocation does not calculate the price of the product or service but calculates the indirect costs associated with the products and services created by the company. Direct costs are costs that are linked to a service category and generally linked to one output category. Indirect costs are linked to more than one service category and there are also incremental costs which change based on the capacity used or the quantity of output created by the cosmpany.

Why Activity Based Costing?

Activity Based Costing - ABC Costing Approach is a management accounting method that has helped many companies improve their profitability and cost structure. ABC costing identifies opportunities for management to improve pricing, products, services, operations and key business processes in order to improve competitiveness. Activity-Based Costing is used for making better business decisions. Indirect Costs are not easily traceable to cost objects. Cost elements are shared among cost objects and are physically impossible to trace and it is not cost effective to trace.

Financial Dashboard and Scorecard

Convert your financial statements into a powerful one-page financial dashboard report. This will give you a better and more effective visual overview of your finance and business. Mr. Dashboard can integrate all of your financial statements such as balance sheets, income statements (profit and loss), operating financial statements, cash flow statements, and any custom financial reports you use into a one-page report where you can see all relevant financial information at a glance.

Business Dashboard

Traditionally business reporting in organizations has been organized through the use of data warehousing approaches with the purpose of managing multiple sources of data. The business dashboard reporting approach, which started in the eighties, brought to the table more sophisticated way of reporting and analysis through better data management and visualization. Today, as the business is become more competitive and time to make decisions should be fast the need for business dashboards in organization has been increased dramatically.

Budgeting: Essential for Small Business

Every business, small and large, new and established, requires a budget. A budget creates a guideline for income and expenses and provides a way to compare financial goals with reality, to plan ahead proactively, and foresee and correct issues. The budget is drawn from the business plan and expands on the income and expenses foreseen. It can be a task of trial and error, especially for the new or inexperienced businessperson. A functional budget will help guide the business toward financial success, pinpoint trouble areas, and be clear to potential investors or lenders.

Preparing an Income Statement

Every business must keep track of income and expenses, profit and loss, not just for tax purposes but also for evaluating productivity in keeping with the business plan. An income statement should serve as a guide to a business’ cash flow management. It should be included in the financial plan section of the overall business plan. Many businesses require presenting clients or board members with documentation of financial activity, so it is even more crucial to keep regular and up-to-date records of income and expenses.

Help your Small Business Save Money

Everyone wants to save money. This is especially true for the small business owner. It seems as if more demands are being made of our money than ever before. There are definite ways for the small business owner to save money and cut costs. Whenever we hear ”we need to cut back and save money,” every person starts thinking of things we have to sacrifice. Something inside us all rebels at the thought of sacrifice. Well just maybe there are ways to save money without actually making huge sacrifices. Let’s take a look at some of those ways.

Finding Business Investors

Finding business investors or loans for your business in today’s market makes an already daunting task even more challenging. Banks: Banks in particular have made tremendous cutbacks, and investing in small business is first in the cutbacks line for many banks. Small, local banks are tightening their purse strings as well as large banks, but some are still lending.

Making Your Small Business Profitable

Times are tough today, and big business is no exception. Many realize it’s time to cut back, but they also may increase their efforts in certain areas, such as customer service, advertising, and product support. Small businesses can take the same tack. Monetarily your small business may be unable to keep up; you may be unable to afford more expensive consultants or advertising. However, there are many things that can be done.