Solvency vs Liquidity: What is Financial Solvency?
It’s a pretty well-accepted fact that a lot of businesses don’t make it past their second birthday and the average lifespan of a small business is only 8-½ years. Understanding that, it makes a…
Restructuring Business Debt: What Are Your Options?
For many business owners, debt is a part of their everyday financial reality. According to the 2019 Small Business Credit Survey conducted by the Federal Reserve Banks, 70% of small employer firms ha…
Key Employee Coverage—5 Options To Consider For Your Business Continuation Plan
Life insurance is not just for people. Many companies benefit from buying life insurance for key employees as part of their business continuation and succession planning. Seven out of 10 small busine…
Your Accountant Can Help You Build Your Business
As a former small business owner myself, I shamefacedly admit that I didn’t take advantage of my accountant’s expertise and point of view and how it could have helped me ramp up my business much…
Cost of Debt: How to Calculate Cost of Debt
When you take out a loan (also known as debt capital), your primary focus is probably on having working capital to grow your business or to steady your cash flow. But there’s something else to cons…
2020 Bank of America Business Checking Review
As a business owner, it’s considered best practice for you keep your personal and professional finances separate—even if you are doing business as a sole proprietor. Opening a checking account jus…
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