According to the Bureau of Labor Statistics, 20% of small businesses fail in the first two years and 45% fail in the first five years. The main reason is due to financial mismanagement including the lack of cash flow, lack of capital funding, poor debt management, and poor recordkeeping.  As an experienced small business CPA firm, we understand the financial needs and challenges of running a business and help small business owners to start, manage, and grow a successful small business.

We offer a new business startup package to educate entrepreneurs to be knowledgeable and understand their financial responsibilities in the following areas:

• S mall business entity selection
• T axation of a small business
• A ccounting and recordkeeping requirements
• R eview of the business and marketing plans
• T raining on QuickBooks accounting software
• U nderstanding the importance of monthly financial statements
• P ayroll reporting requirements for hiring employees vs. contractors

After a new business is launched, it’s important that small business owners know their numbers to determine if the business is operating at a profit and is operating efficiently. We provide advisory services in the areas of financial management and growth, which includes managing revenue, profit, cash flow, and pricing. Our advisory services are designed to help small business owners resolve financial challenges related to:

• Increasing revenue and new revenue streams
• Increasing profit by understanding the results of business performance
• Implementing ways to speed up cash flow and reduce accounts receivable
• Pricing products and services to meet desired profit margins

To learn more about our small business advisory services, call today at (727) 391-7373.