Many business owners aren’t familiar with the principles of accounting. They need to understand their profit and loss statements and balance sheets so they can make good management decisions. They also need to understand their financials when dealing with banks, taxes and negotiating for the sale of their company. If… Read More »Tip #034 Business owners need to understand accounting!
According to Axios Markets: America saw the worst recession on record (albeit the shortest). But stay-at-home orders that limited what consumers could spend on paired with stimulus funds that went toward paying down debt helped lift the average credit score — a phenomenon that cut across all generations. Some may… Read More »Credit Scores Are Still Increasing
According to the Phoenix Business Journal: More than 653,000 Californians moved to another state in 2019, while about 480,000 people moved here from elsewhere in the country, according to data from the Census Bureau’s American Community Survey. (The 2020 numbers aren’t available, but analyses of other 2020 data sets have… Read More »Fleeing the Golden State
Sellers and Buyers of businesses tend to have different opinions on adjusted financials that add back discretionary bonuses. They can come to an agreement upon understanding the meaning and timing of bonuses. The most important question to answer is “Are the employees really receiving a ‘discretionary’ bonus?” If employees have… Read More »Bonuses: To Adjust or Not to Adjust
AZ estimated 6.6% jobless rate in July remains above pre-pandemic levels, but significantly LESS than the pandemic high of 14.2%. Unemployment rates may not be improving as quickly is partly due to the increased number of workers in the labor market, according to data from the Bureau of Labor Statistics… Read More »Arizona Labor Gains
As outlined on Statista: With roughly 2.89 billion monthly active users as of the second quarter of 2021, Facebook is the biggest social network worldwide. In the third quarter of 2012, the number of active Facebook users surpassed one billion, making it the first social network ever to do so.… Read More »Active Facebook users worldwide as of 2nd quarter 2021
Alignable’s August Rent Poll Report shows that, overall there was a 5% improvement in the number of small businesses that were able to pay their rent this month. This is the first time in six months where there was such a positive lift. That said, still 30% could not afford to… Read More »Small Business Rent Payments
According to Equifax data published by the New York Federal Reserve, mortgage originations nearly hit $1.2 trillion in Q4 2020, with refinances accounting for roughly 60 percent of that total. The refinancing boom became even more apparent in early 2021, as existing homeowners refinancing their debt accounted for a whopping 70… Read More »The Great Refinance
Working capital drives your business. When buyers acquire a company, they expect working capital to be included. As business owners get successful and comfortable, many get lax about working capital. They establish a habit of fast payment, slow collections, and maintaining excess (or even obsolete) inventory. Go into a sale… Read More »Fix Inefficiencies Prior to Sale
Biden promised new revenue to pay for historic spending increases in his second, very “soft” infrastructure package. He needs tax increases to pick up votes from Joe Manchin (D-W.Va.) in the Senate and a handful of House centrists, who are concerned about adding even more to the national debt.