A business owner needs to know the three major financial statements to gain a comprehensive and holistic overview of a company’s financial condition. Together, these documents provide valuable information for business accounting and strategic decision-making about investments, expansions, and cost-cutting. You can identify which areas of the business are most profitable or where inefficiencies lie—empowering […]
Say you’re a business owner looking to expand. You’re preparing for a loan application or seeking investment from outside sources. In this scenario, you must demonstrate your company’s financial health and stability to lenders or investors. Understanding the link between the three major financial statements—the balance sheet, cash flow statement, and profit & loss statement—means […]
How to measure success in business is perhaps the biggest question on the minds of small business owners. Regardless of industry, finding what qualifies as true “success” can be a challenge. Understanding which business performance metrics indicate that your company is in good shape will help you take steps that will keep your business in […]
Consumers hoping for relief from the elevated Fed interest rate will have to wait further, as The Federal Reserve announced on Wednesday it is holding steady on its 5.25-5.50% lending rate in a continued effort to combat inflation. The 23-year-high, which peaked in July 2023, has remained unchanged following five consecutive policy meetings. Policymakers insist […]
Interest rates have been a hot topic of conversation for small businesses over the last year after the federal funds rate hit a 23-year high in July 2023. Since then, the Fed rate has remained steady (5.25% – 5.50%), but questions remain surrounding the impact of interest rates on small businesses. How has this high […]
Every day, more than four billion people open their email. So how do you stand out as a staffing agency owner who is introducing your business to potential clients? The answer isn’t obvious, but with a little bit of research, you’ll learn how to craft a perfect staffing agency introduction email to your target clients […]
There are a lot of perks as a business owner: you can set your own schedule, be your own boss, and make every decision. But one of the few downsides of running your own business is relying on clients to pay on-time in order to keep your day-to-day operations on track. Even if just one […]
Inventory, accounts receivable (AR), and accounts payable (AP) should be familiar terms for business owners. Where it gets tricky is figuring out how to tie these three components together. Fortunately, there’s a concept that encompasses all three: the working capital cycle. Evaluating your working capital cycle is a must if you’re aiming to manage your […]
Ground Picture // Shutterstock The economy has small business owners in a conundrum. Objectively, small businesses are doing well. Consumers are still spending. Retail sales rose to more than two times what economists predicted as of September 2023, according to the Commerce Department. But, confidence among these business owners is waning, and many are pessimistic […]
Creating a budget is essential when running or starting a small business. When doing so, setting attainable goals, knowing your limitations, and understanding the best business budgeting tools will give your small business the best shot at profitability and sustained success. Continue reading to learn more about the benefits of budgeting for your small business, […]
Andrey_Popov // Shutterstock Americans are being rejected for loans at rates unseen in at least five years. The difficulty getting approval is hitting applicants across the board—including those in the market for homes, mortgage refinancing, vehicles, credit cards, and credit card limit increases. altLINE analyzed data from the Federal Reserve Bank of New York’s Credit […]
If you’re new to running a business, you’ll also be a new possessor of a business credit score. Your initial score as a first-time business owner won’t allow you to obtain all the funding you might want, but the saving grace is that you’re not alone. A common struggle of starting a new business is […]
mavo // Shutterstock Inflation has nothing on the American entrepreneurial spirit, which, judging by the volume of new businesses formed, continues to see potential in the post-pandemic economy. To better understand the post-COVID-19 outlook for entrepreneurship in the U.S., altLINE analyzed data and reports from the National Bureau of Economic Research and the Census Bureau. […]
The ever-evolving modern business landscape is filled with apps focused on boosting efficiency for businesses. As an entrepreneur, it’s important to remember that leveraging mobile apps for running a small business is one of the most efficient ways to grow your company. When utilized correctly, the right apps can significantly improve your team’s workflows, collaboration, […]
