... achieve your personal and business goals Planning for yourbusiness succession will help protect all your years of hard work Keep a vital service in your community Yoursmallbusiness could be big business ... LEAVING YOURSMALL BUSINESS: YOUR PLAN FOR A SUCCESSFUL TRANSITION 23 Feedback We’d like to hear from you Leaving YourSmall Business: Your plan for a successful transition Date Send your comments ... LEAVING YOURSMALL BUSINESS: YOUR PLAN FOR A SUCCESSFUL TRANSITION Communications plan Communicate your succession plan to key people in yourbusiness Determine how you are going to tell your employees...
... Contents YourSmallBusiness Companion 1 Can You Save Your Business? Stepping Back to Plan for the Short and Long Term .4 Selling YourBusiness Putting YourBusiness ... 301 YourSmallBusiness Companion “I am not my business, and my business is not me.” Now close your eyes and repeat that three times Got it? We hope so, because treating yourbusiness and ... Experienced smallbusiness people in your community who you know and trust and who, in turn, respect yourbusiness • A loyal customer with deep business experience who values yourbusiness and...
... for YourSmallBusiness Second Edition STEVEN M BRAGG AND E JAMES BURTON John Wiley & Sons, Inc Accounting and Finance for YourSmallBusiness Second Edition Accounting and Finance for YourSmall ... manuals, etc Business enterprises—Finance— handbooks, manuals etc SmallBusiness Management New business enterprises— Management I Burton, E James Accounting and finance for yoursmallbusiness II ... Data Bragg, Steven M Accounting and Finance for yoursmallbusiness / Steven M Bragg.—2nd ed p cm Rev ed of: Accounting and Finance for yoursmallbusiness / E James Burton, Steven M Bragg 2001...
... strengths: • Yourbusiness weaknesses: • Why you think yourbusiness will succeed? Your future growth • Where you expect yourbusiness to be in five years? Your key business objectives YourBusiness ... for business success YourBusiness Financial Statements Your financial track record, and your projections for your company’s financial future .7-11 • YourBusiness Balance Sheet • YourBusiness ... prepare yourbusiness financial statements – the documents that describe in detail what makes yourbusiness run • YourBusiness Balance Sheet • YourBusiness Income Statement • Your Business...
... your annual losses from yourbusiness (or businesses) If you’re a sole proprietor who files IRS Schedule C, the expenses listed on the form will exceed your reported business income If yourbusiness ... every dollar yourbusiness takes in (your gross business income) Instead, you owe tax only on the amount left over after yourbusiness s deductible expenses are subtracted from your gross income ... corporations) Every business falls into one of these categories— and your category will determine how yourbusiness s profits will be taxed 10 | DEduct It! Lower YourSmallBusiness Taxes Sole...
... provides numerous links to other sites for homebased businesses 1/6 LEASING SPACE FOR YOURSMALLBUSINESS Staying in Your Current Rental Perhaps yourbusiness already occupies commercial space but ... run your home-based business, your policy may not cover business property that is destroyed in a fire or other disaster at your home Even worse, once you begin using the home as a place of business, ... amenities that will help yourbusiness prosper As you prepare your list of rental features, ranking each according to its importance to your business, remember that your hard work will translate...
... for YourSmallBusiness Second Edition STEVEN M BRAGG AND E JAMES BURTON John Wiley & Sons, Inc Accounting and Finance for YourSmallBusiness Second Edition Accounting and Finance for YourSmall ... manuals, etc Business enterprises—Finance— handbooks, manuals etc SmallBusiness Management New business enterprises— Management I Burton, E James Accounting and finance for yoursmallbusiness II ... Data Bragg, Steven M Accounting and Finance for yoursmallbusiness / Steven M Bragg.—2nd ed p cm Rev ed of: Accounting and Finance for yoursmallbusiness / E James Burton, Steven M Bragg 2001...
... be as small as a single operation or machine or as large as the entire business The business is, after all, the responsibility center of the chief executive of the business Typically, the business ... coordinate other essential business functions In contrast with financial accounting, responsibility accounting does not simply group like costs but instead segments the business into distinct responsibility ... Operate the Business I the segment prior to the end of a plan/budget period These objectives are part of the operating budget and comprise the targets of operation for every segment of the business...
... decide on vertical growth—being your own supplier or marketer Supplying yourself with components, services, or raw materials is a source of potential profit Setting up your own distribution network ... Accountants, and some of your staff and some managers, probably have been trained to make the calculations necessary for determinations of present 41 SECTION Preparing to Operate the Business I values, ... generation is evaluation of your present status Many factors should be considered when making an evaluation of status It is particularly important to pay attention to your position with respect...
... major business decisions Accounting sources provide the requisite raw data on which you may decide which products to discontinue, which to retain, and which to expand or contract in yourbusiness ... reducing overdiversification in a business s product mix Elimination of overdiversification can increase production and marketing efficiencies by concentrating your efforts and resource utilization ... if an analysis shows that your overall goals are better met by product elimination and concentration of efforts An evaluation of the contributions products make to your objectives often reveals...
... business will make different assessments of risk A constant growth business and a steady earnings business, although both have the same return, may be seen as having different risks If yourbusiness ... the business on a daily basis Unfortunately for most businesses, large and small, the inflows and outflows are neither steady nor all predictable within an acceptable degree of certainty The business ... II Operating the Business S ection I was largely devoted to tasks that can and should be accomplished prior to the start of the business (or of the fiscal period for an ongoing business) It focused...
... particularly important for some small businesses to get an understanding of cash flows because they are especially vulnerable to problems dealing with cash Smaller businesses tend to operate with ... consult your accountant and get help establishing controls However, for many small businesses, a checkbook can provide adequate daily records of cash disbursements 119 SECTION Operating the Business ... receipt) • Concentration banking If yourbusiness is large enough to have broad market coverage, you may consider using banks at various locations within your market areas to speed the clearance...
... considering business financing, it is important to distinguish between businesses just beginning their life cycle and those that have an established business record on which to build New Businesses ... for a smallbusiness may be funds invested by, or loaned from, friends or family In all events, these funds represent a source not to be counted on for long-term or continued financing As businesses ... receivable Many people with new businesses are surprised to learn how much money is needed to support accounts 143 SECTION Operating the Business II receivable As the business grows, accounts receivable...
... Operations of the Business III Profitability Ratios When the profitability on sales ratio and the profitability on investment ratios are considered, they can give an indication of your efficiency ... predicting the future? Not at all However, the results they show must be tempered by your knowledge of the business, as well as a comparison to a variety of other performance measures For example, ... historical average, we have a measure of how well the business is doing compared with past performance 197 SECTION Evaluating the Operations of the Business III Dissimilarities • Financial ratios relate...
... there are either a large number of small jobs running through a process, each of which requires a small amount of downtime to switch over to the new job, or a small number of jobs that require ... example, acceptable parts to parts produced—may be common, what is acceptable will vary from business to business Also, where you want to emphasize control will vary according to individual costs ... These tools are all useful for managing a business Risk Analysis It is customary to make decisions based on projected information This happens whenever a business forecast or sales projection is...
... payment of that income under various business formats As income grows and the business prospers, changing the business form may be an integral part of the business plan Methods of financing capital ... each piece of major equipment The business interruption review should focus on the amount of cash required to keep the business from going bankrupt during a business shutdown A crucial review ... particular tax liabilities Some of them are associated with particular types of businesses and may not be applicable to the business in which you engage Partnerships and subchapter S corporations can...
... money out of the business for personal use or transferring personal money to the business However, you should set up and keep separate accounts to keep track of identifiable business expenses ... approval from the IRS 261 SECTION Evaluating the Operations of the Business III Other Specialized Reporting Areas Specialized Business Businesses such as those dealing in firearms sales and transportation, ... adequate business records has been the downfall of many sole proprietorships Partnerships A partnership is the relationship between two or more persons for the purpose of carrying out a trade or business...
... etc) about your business, service or topic, you can link your web site to your blog, allowing a person to check out yourbusiness and services One way to this is to put your URL in your signature ... Doteasy as your hosting provider because Gmail has a superb spam filter Just forward all your Doteasy email account (which will have your URL in it such as info@yourwebsite.com) to your Gmail ... of Your Web Site If you are not going to it yourself, you will need to find someone else to put your web site together and post it online There is one major downside to going with outsourcing your...
... U.S SmallBusiness Administration Using this Planner Welcome to the Export Business Planner For YourSmallBusiness – a hands-on exporting preparation guide brought to you by the U.S SmallBusiness ... Spread the word to other small businesses interested in exporting! www.sba.gov/exportbusinessplanner Ready? Let’s Begin! SBA welcomes your interest in becoming a smallbusiness exporter, and encourages ... will your customized Export Business Plan Here’s to your success as a smallbusiness exporter! NEXT UP Chapter Introduction to Exporting www.sba.gov Getting Started: Creating an Export Business...
... begin by understanding your ‘why’ from the inside out This is about mission, not marketing What calling does yourbusiness serve?” 12 — Harvard Business Review Small and Medium Business Routes to ... to take yourbusiness to the next level Over 90% of SMBs now use at least one cloud business solution and 87% use at least one cloud infrastructure solution “2014 Small and Medium Business ... start, your trajectory will only get worse over time Small Businesses Need to Scale Corporate Culture During Rapid Growth to Survive,” Forbes, 2015 — HARVARD BUSINESS REVIEW INTRODUCTION As a small...