Monday, October 09, 2023
Are you struggling to make progress on your business debt due to its overwhelming amount? Find that you’re just not making progress on your debt, no matter how hard you try? If that’s the case, you might be facing overwhelming debt.
Starting a small business can take a lot of time and money, which is why many entrepreneurs leverage debt in the beginning. Debt can be a useful tool to start your business, but make sure your debt is working for you, not against you.
If your debt and expenses begin to outpace your revenue, this can lead to significant financial problems. This article will explain how much business debt is too much, and what steps you can take to improve your business’ financial standing.
Check out this article by Jamie Johnson at business.com:
At J&S Accounting, we provide expert bookkeeping services tailored to the unique needs of small businesses and nonprofits. We recognize the challenges that come with maintaining accurate financial records and how vital this is for the smooth operation and growth of your business. As a woman and minority-owned firm, we’re proud to offer our expertise to businesses in Savannah, GA, and across the nation, helping them navigate financial complexities and achieve better financial management.
Bankruptcy is a word no business owner wants to hear, but it’s a reality that many businesses face, especially during periods of economic uncertainty or rapid growth. While a number of factors can contribute to business failure, the number one cause of business bankruptcy is poor cash flow management.
If you’re a business owner who works with independent contractors, you probably feel the stress when January rolls around. It can get overwhelming fast between tracking payments, collecting W-9s, and issuing 1099s.
Running a business means wearing many hats, managing growth, keeping up with clients, and keeping a close eye on your books. One often overlooked risk is expense fraud.
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Disclaimer:This content is for information purposes only and should not be considered legal, accounting, or tax advice, or a substitute for obtaining such advice specific to your business from a professional accountant. Additional information and exceptions may apply. Applicable laws may vary by state or locality. No assurance is given that the information is comprehensive in its coverage or that it is suitable in dealing with a customer’s particular situation. J&S Accounting does not have any responsibility for updating or revising any information presented herein. Accordingly, the information provided should not be relied upon as a substitute for independent research. J&S Accounting does not warrant that the material contained herein will continue to be accurate, nor that it is completely free of errors when published. Readers and viewers should verify statements before relying on them.
This content is for information purposes only and should not be considered legal, accounting, or tax advice, or a substitute for obtaining such advice specific to your business from a professional accountant. Additional information and exceptions may apply. Applicable laws may vary by state or locality. No assurance is given that the information is comprehensive in its coverage or that it is suitable in dealing with a customer’s particular situation. J&S Accounting does not have any responsibility for updating or revising any information presented herein. Accordingly, the information provided should not be relied upon as a substitute for independent research. J&S Accounting does not warrant that the material contained herein will continue to be accurate, nor that it is completely free of errors when published. Readers and viewers should verify statements before relying on them.