Now is the Time to Review Your Cash Forecasting Process
In the current business environment with interest rates on the rise, it is a good time to ensure that your cash forecasting process is optimized. Businesses that have previously relied on cheap, readily-available loans as their backup plan for any cash emergencies may now find that such loans are no longer cheap nor readily available. By focusing on and improving your cash flow forecasts, you can better anticipate any issues that might arise and take steps to mitigate or prevent those issues before they become a problem, and protect your business from one of the main causes of enterprise failure: running out of cash.
Get the Most From Your Marketing Budget
For most companies, spending money on marketing to drive sales and revenue is a given, but determining “how much” is often a haphazard process rather than based on thoughtful planning and accurate analysis. When businesses set realistic, reachable goals based on accurate expectations of return on marketing investments, they tend to see not only steady, reliable growth, but several other positive benefits as well.
How to Minimize Your Merchant Fees
Accepting credit cards is a fact of business life these days. Customers prefer and expect the convenience of credit card payments, and in any case, they often don’t carry cash or checks anymore. But along with accepting cards comes the fees associated with them – fees that are borne by your business. Some of these are unavoidable, but many businesses end up needlessly overpaying and cutting into their bottom line. Let’s briefly look at how payment processing works, and where you can take action to ensure that your business is coming away from credit card transactions with the most profit possible.
Why COGS Matters
COGS is more than just a number pasted into the accounting spreadsheet. It can give you clues about the health of your business, point to steps you might take to improve your profits, help recognize tax opportunities or risks, and look for growth opportunities.
Top 10 Tax Mistakes: How to Avoid Them, Part 1
Making one of these ten common tax mistakes could be costing you money. Find out what they are and how to avoid them.
Top 10 Tax Mistakes: How to Avoid Them, Part 2
Making one of these ten common tax mistakes could be costing you money. Find out what they are and how to avoid them in part two.
What is a 1099?
You know that it has something to do with filing taxes, but what exactly is a 1099 Form? In short, a 1099 Form is an “information return” that reports all income earned through self-employment, interest and dividends, sales proceeds, and other miscellaneous income. There are several different types of 1099 Forms that account for the […]
The Details Matter
For the vast majority of franchisees an extra $1,000 a month in net income, or more owner’s salary, would make a huge difference. At BKE we see Net Income as a percentage of revenues ranging from a negative % to 10% for the majority of our clients. We understand that to really get the picture […]
Planning for 2021 – Addressing the Unknown
The coming year, much like 2020, is filled with uncertainty. Economic and community guidelines are ever-changing, and planning presents new challenges we haven’t seen before. Here at BKE, our goal is to help you plan through the multiple possibilities and prepare for the most successful business year possible. Over the next month, we are going […]
The PPP Loan Forgiveness Application
On Friday, May 15, 2020, the U.S. Small Business Administration, along with the Department of the Treasury released the Paycheck Protection Program (PPP) Loan Forgiveness Application. Learn more…