Operations Articles

As an entrepreneur, you need to have a plan in case you have to close your business. Perhaps your business can’t pay its debts, or maybe you want to retire. Regardless of what happens, you should be aware of one of your options for closing your business: small business liquidation. What is liquidation?

Sometimes, it’s hard to tell whether your business is operating efficiently, especially when money is constantly coming in and going out. You need to know if your business is making a profit or losing money. One way to gain insight into your financial strength is by reviewing your net worth. What is business net worth?

Is your small business cluttered with paper documents? When you rely on paper to keep track of business finances, you often end up wasting time and resources. For an efficient accounting process, follow our tips to create a paperless office.

As a small business owner, you need goods to operate. Your inventory is an essential organ in the anatomy of your business. The tools you use and the merchandise you sell help you accomplish daily goals, and ultimately grow your company.

Small business owners take risks every day. But if you put too much at stake, your business bottom line could suffer. To make sure your decisions are sound, conduct a risk analysis for your small business.

Selling a product to a customer and collecting money isn’t the end of the sales process. You also need to prepare in case customers return goods. To prevent confusion and frustration, you need to have a clear small business return policy in place.

As a small business owner, you might be put off by the cost of accepting credit cards. But, accepting credit card payments for small business can open the door to more customer traffic, increased loyalty, and larger sales.

You know the old saying—money makes the world go ‘round. Today, there are many different payment options to keep the world spinning. But, some businesses prefer to limit customer payments to cash. Do cash-only businesses clog cash flow?

No business owner likes being strapped for cash, but mismanaging cash flow happens. If you’re struggling to control your small business funds, check out the money management tips in this article.