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Suppose you suspect an employee has committed fraud against your company. What do you do? Fire him/her on the spot? Probably not, since that could make the situation much worse, especially if you’re wrong. You also don’t want to tip your hand, because that could...

How responsive is your business to changes in market trends? Are you effectively keeping pace with changes in technology, lifestyles, fashions, taste, and modes of communication? Or have you been blind-sided by changes you didn’t see coming? Given the speed at which...

Everyone likes to have cash on hand. There’s a sense of security you get knowing you have money in your pocket. But when you run a business, you want your money working as hard as you do. And too much cash sitting around in an account for too long is definitely...

For an investor, a limited partnership is often an attractive proposition. If you like the business plan, believe the public will demand the goods or services, and trust the competency of the general partner, being a limited partner is an easy gig. You invest so much...

Most small-to-medium-sized businesses have a limited marketing budget, so you’ve got to spend wisely and capitalize on as many free opportunities as you can find. Here are a few tips to get you going:Copy the big boys The first step could be to do some opposition...

In the course of business, it is sometimes necessary to make advance payments for expenses that fall into more than one accounting period. With accrual-basis accounting, companies implement “matching,” where the company aligns expenses (efforts) with revenues...

In today’s digital economy, companies that hold consumer records are under siege from hackers attempting to breach security and illegally access data. Healthcare consumers have to be particularly vigilant, because data breaches are potentially ruinous. If you are...

It’s become something of a motivational speaker’s cliché to point out that the Chinese word for “crisis” is composed of two characters: one meaning “danger” and the other meaning “opportunity.” That insight is meant to inspire leaders to seize the day and take bold...

If you are a small business owner, one of your most onerous tasks is managing payroll. If you have the resources, it pays to outsource the work. But if it falls on you, it’s imperative that you comply with IRS requirements to the letter. Any fudging, any delays, and...

The first quarter of any year is loaded with tax deadlines that come fast and furious. For business owners, there are various reporting deadlines as well as dates for tax payments. If you are late, you face penalties that will seriously cut into your bottom line and...