5 Tips for Managing Business Debt Wisely
An estimated 79% of business firms carry some debt as of 2021, up from 71% of businesses carrying debt in 2016. This indicates that business debt is a common tool used by various companies to help build their empires. However, it is also true that carrying excessive debt or unproductive debt can sink a business before […]
Financial Planning and its Impact on Mental Health
We’re all familiar with the phrase, “Money doesn’t buy you happiness,” and while that’s a veracious statement, so is the phrase “Money doesn’t grow on trees.” Simply put, we should not use the thickness of our wallets as a measure of our happiness. Instead, we should improve our literacy and make sound decisions regarding […]
Understanding Financial Ratios for Small Business Owners
Financial ratios turn a business’ raw numbers into insightful information that can help determine and manage its financial health. As a small business owner, you can use your ratios to determine your firm’s ability to effectively manage its assets and liabilities and pay off both short-term and long-term debts. You can also use your […]
3 Tips for Keeping Accurate and Organized Financial Records
Accurate and detailed financial records are the only kind of documents that truly carry water at the end of the day. Documents and records that are thrown together haphazardly are always going to be messier and have less value overall. Therefore, every business owner and accountant must consider how they can avoid the chaos […]