Category: Small Business Resources
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How long does an ACH payment take?
What do auto-pay, direct deposit and sending your friend $20 through an app all have in common? They are all examples of ACH transfers. The reality of tapping a few buttons on a computer or mobile device and transferring money almost instantaneously is relatively new, but the infrastructure used to complete these types of transactions…
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13 Bookkeeper Software Features Your Small Business Needs
You want to take care of your business’s bookkeeping yourself. That’s great! You’re not the only one: over 64% of small business owners turn to bookkeeper software. But with so many different options out there, it can feel overwhelming to determine which accounting software is the right fit for your small business. To save time…
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Why Is a Business Plan Important? (+ How to Create One)
A business plan is not something you create just for the sake of creating it—it’s a key factor in your company’s success. According to a SCORE survey, the next biggest source of support for small business owners just starting out—behind their friends and family—is having a solid business plan in place. Aside box: What is…
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What does Net 30 Mean? A payment terms guide for small businesses
If you’re a business owner waiting on payments, you’re not alone. According to a 2021 Melio survey, over 50% of entrepreneurs have gotten paid late before. With bills to pay to keep your small business afloat, chasing down payments is stressful. Encourage on-time payments by adopting Net 30 terms. This period gives clients a reasonable…
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Bookkeeping for Freelancers: A 2022 Guide
The term “freelancer” was originally used to describe a medieval mercenary whose lance wasn’t sworn to the service of one lord. And while they’re no longer hired assassins, freelancers are still “killing it.” According to Payoneer, a freelancer’s average hourly wage in 2022 was about $28, almost double the national average. While freelancing may improve…
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11 Accounting Formulas Small Business Owners Need to Know
If you’re a small business owner who likes to do their own bookkeeping, you’re not alone. According to a recent report by Clutch, a majority of small businesses (62%) prefer to do their accounting in-house. Luckily, you don’t have to be an accountant to assess your business’ financials. Use these tried-and-true accounting formulas to quickly…
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The Ultimate Small Business Tax Deductions Worksheet for 2022
If you’re a small business owner, there’s a good chance thinking about taxes stresses you out. You’re not alone. The fear of making a mistake on taxes terrifies many people. A recent Pew Research study showed that the complexity of the federal tax system significantly bothers 47% of Americans. Well, there’s good news: tax preparation…
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Small Business Week 2021 is Approaching: Prepare Now for a Successful Campaign
A recent survey found that 75% of consumers plan to support nonessential small businesses as soon as restrictions are lifted. And as folks begin venturing out again, Small Business Week (September 12–18, 2021) is the perfect time to engage them. What is Small Business Week? National Small Business Week (NSBW) is the U.S. Small Business…
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A Post-Work Relaxation Guide for Business Owners
While rewarding, running a business is extremely challenging, not to mention stressful. Any business owner can agree that their brain is continuously going at a hundred miles an hour – even when they’re technically not working. Budgeting, personnel problems, and operational hiccups are just a few of the things that keep them up late at…
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Why Cyber Security Strategies Matter for Small Businesses in 2021
Warning: Your small business is under attack. Did that get your attention? Ok, while a tad dramatic, the fact that 43% of all cyberattacks target small businesses underlines that cybersecurity strategies are needed regardless of the size of the venture. High-profile breaches at large organizations like SolarWinds and Microsoft might get most of the attention,…