Business Owners: How should you pay yourself?
As the owner of a small business, you have two basic options for how to pay yourself: Drawing money from your business bank account or paying yourself a regular salary. But beyond that, it gets a bit complicated. Some business entity types have restrictions on how...
Use Return on Investment (ROI) for effective project analysis
For small businesses in all industries, measuring the Return on Investment (ROI) for every major expense should be a mandatory exercise. Unfortunately, calculating this financial metric is often overlooked, so owners and managers miss out on the accompanying benefits....
Learn to read your cash flow statement
Small business owners have a lot of tasks to manage to keep their businesses running smoothly, but among the most important things on the radar is the financial health of the enterprise. Everyone knows when the money dries up, you’re done. Though there are many pieces...