Hiring your first employee is a defining moment for any business, and whether you’re expanding from a single-person business or growing into new markets, it’s more than just finding the right person. It requires thoughtful preparation, adherence to federal and state laws, and the creation of a strong internal framework to support new hires. Here’s […]
If your business requires expensive tools and machinery, you may find yourself in need of asset finance. Asset finance allows you to acquire or use assets without having to pay in full up front. It gives you the funding you need to purchase or lease assets you’ll need to operate your business while preserving your […]
If you’re failing to meet your cash commitments each month and eating away at your capital reserves, then it’s time to make some serious decisions in your business. A business can survive for a short time without low sales or profits, but not without a positive cash balance. It’s cash which pays the bills and […]
Q: What is cyber security? A: It’s how to protect your business from malicious and accidental attacks on internet-connected networks, computers, mobile devices, software, and applications. It defends against attackers trying to access, destroy, or extort sensitive data, including customer information. Key cyber security measures include strong passwords, two-factor authentication, staff training, and disaster recovery […]
Along with increasing your income, financial business resilience also involves managing your expenses, improving efficiencies, and making strategic financial decisions. Build short-term cash reserves There are numerous ways you can free up cash within your business in order to save some for an emergency. There could be machinery you no longer need or vehicles that […]
Stressed businesses in survival mode often struggle with cash flow, making it difficult to continue trading. The priority is financial stability. Improve liquidity and forecast cash flow Free up cash by managing inventory efficiently, as holding too much increases costs. Sell unused assets, lease equipment instead of buying, and negotiate longer supplier payment terms. Selling […]
We are pleased to announce that, effective May 15, 2026, Shannon Konsmo Professional Corporation, Chartered Professional Accountant, will be joining Verity LLP, Chartered Professional Accountants. Shannon Konsmo, CPA, CFE, brings years of trusted experience and dedication to her clients and community. By joining Verity LLP, Shannon will continue providing the personalized service and professional advice […]
If your business is facing a crisis and you’re not sure what to do next, there are three strategies you can consider. Strategy 1. Trade out of trouble Initially, focus on selling current products or services to your existing good customers, as it should be the easiest to do. They know you. Then contact the […]
Improving your bottom line isn’t just about increasing your revenue but also comes down to reducing outgoings where you can. Reducing direct costs can dramatically increase your profit on each sale while eliminating unnecessary business overhead. Here are some things to consider for optimising operational costs. Lower the cost of purchases Reducing what you pay […]
Angel investors are usually successful entrepreneurs, retired business owners or corporate executives in search of investment opportunities with promising businesses. They’re looking for an investment they can get a return on their money, but often also contribute to an industry, region, town or business community. What angel investors will expect They usually seek a combination […]
Improving your bottom line isn’t just about increasing your revenue but also comes down to reducing outgoings where you can. Reducing direct costs can dramatically increase your profit on each sale while eliminating unnecessary business overhead. Here are some things to consider for optimizing operational costs. Lower the cost of purchases Reducing what you pay […]
Crowdfunding is when you raise capital from the ‘crowd’, or the general population. It’s usually facilitated by online platforms such as www.kickstarter.com and www.indiegogo.com (ask your industry networks or search online for what may match what you’re doing). It allows businesses the freedom to raise capital from a range of people: investors, customers, colleagues, peers, […]
Running a nonprofit requires a delicate balance between advancing your mission and managing day-to-day operations. One of the most time-consuming and detail-oriented tasks is bookkeeping. For many small to mid-sized organizations, internal bookkeeping can quickly become overwhelming, especially when staff wear multiple hats. Outsourcing bookkeeping can be a practical solution. It allows nonprofits to maintain […]
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Safeguarding your business against fraud is important, particularly if your business accepts credit cards. While credit card fraud may always be a concern, it is something you can protect yourself against to reduce your risk of losses. Preventing the cause of fraud If you can and it’s appropriate, avoid the chance of any credit card […]
Investing in new fixed assets such as machinery, vehicles, technical equipment, or property can be a critical step in growing your business. You’ll generally need to choose between using cash reserves or seeking finance. While using cash avoids interest costs, financing allows you to spread the cost over time, keeping your cash available for other […]
Many businesses need to raise extra capital or funding at some stage in their growth. The first task is figuring out how much you need, and what it’s for. For example, you could be aiming to increase capacity by investing in new equipment or expanding your facilities. Or you might be planning to buy a […]
Running a small business comes with constant challenges, from changing customer demand and rising costs to market shifts and economic uncertainty. Sometimes, these pressures mean that parts of your business may no longer contribute to long-term growth. In these situations, restructuring can be a practical way to protect your business, refocus resources, and build resilience […]
A business checking account is designed to separate personal and business finances. While some small business owners may be tempted to use their personal account when starting out, there are clear advantages to opening a dedicated business checking account, along with a few drawbacks to consider. Unlike a personal account, a business checking account is […]
An online scam is any scheme delivered through digital communication channels that aims to steal personal information or defraud people of money. Being aware of potential scams is essential to protect your business, yourself, and especially your employees. Cold calling scams These scams involve callers attempting to impersonate a legitimate organization or government agency to […]
Stepping away from your business is one of the biggest decisions you’ll ever make. Whether you’re thinking about retirement, a career change, or simply want to free up more time, careful planning helps you stay in control and get the best outcome for yourself, your family, your team, and your future. Start with your personal […]