Why some businesses choose to execute a pivot strategy
Business owners: If your company is struggling, it may be time to consider a pivot strategy. Here are some reasons other companies have pivoted.
Nonprofits don’t lose as much to fraud, but risk requires action
Does your nonprofit train staffers and other stakeholders on how to recognize and report fraud? If not, you may risk financial losses you can’t afford. We urge you to implement these internal controls.
Getting a handle on inventory
For retailers, manufacturers and many other businesses, a significant amount of working capital is tied up in inventory. What can your company do to lower its inventory carrying costs?
Board committees can help members make time for critical work
Prospective nonprofit board members commonly cite time constraints as a reason not to join. The same goes for current members who resign. Make it easier for qualified individuals to focus their talents with committee work.
Don’t be surprised by a sudden influx of support
Disaster-relief charities have long contended with sudden influxes of attention and donations. But any nonprofit could face this “problem.” Be sure to prepare for logistical and other challenges.
How construction businesses can better manage their money
Construction businesses face a number of distinctive challenges when it comes to financial management. Fortunately, there are also plenty of solutions to be found.
Business owners, your financial statements are trying to tell you something
Business owners: Make sure you’re not tossing your financial statements in a file drawer and forgetting about them. They contain valuable info!
Nonprofits: Take another look at Inflation Reduction Act tax breaks
You’d be forgiven for ignoring tax breaks contained in the Inflation Reduction Act. After all, they won’t help tax-exempt organizations. Or will they? We suggest you look at two provisions benefitting nonprofits.
4 things contractors should know about smart buildings
Construction companies are increasingly being asked to work on “smart” buildings. These high-tech projects are good opportunities but can be challenging as well. Here are four things to know.
How to minimize billing bottlenecks
Today, many companies are seeking innovative ways to improve their financial health. One area to focus on, that’s easy to overlook, is billing and collections.
Making the most of your nonprofit’s social media accounts
Maintaining a social media presence is a must for nonprofits these days. But you also want your efforts to be effective. Learn how to evaluate platform use and protect your reputation online.
B2B businesses: Assess customer credit carefully
B2B companies typically offer credit arrangements to their customers. If your business does so, be sure your credit assessment process is continuously improving.