Small Business Toolbox

A library of business management info


Cash Flow
  • Seven Best Ways to Keep Your Capital Flowing During a Credit Crisis
    10/03/2008
    Make your small business thrive when credit is tight with these tips from NFIB Chief Economist William Dunkelberg.
  • Using Interest-Only Loans to Solve Financial Woes
    12/13/2007
    It's no secret that interest-only loans are a big draw for a lot of people without a steady or regular paycheck, especially individuals who work on commission as well as entrepreneurs. But are interest-only loans right for you?
  • Using OPFM (Other People's Free Money)
    07/10/2007
    The term OPM (Other People's Money) traditionally refers to borrowed money that allows you to leverage investments or start a business. OPM comes at a cost because normally interest in one form or another is charged.
  • Checklist for Managing a Small Business' Finances
    11/14/2006
    Small-business owners need to be informed about every aspect of financing, from bookkeeping to cash-flow projections to securing loans from bankers. While you may not need to be an expert on each of these aspects (and, really, you can't be unless you have an accounting degree), the more you understand about these vital components of small-business finance, the greater the chance for your company's success.
  • No. 1 Rule for Every Small Business: Know Your Break-Even Point
    09/25/2006
    Many small-business owners focus on the profitability of their operations rather than spending time determining their break-even point. This is natural because profits are the ultimate essential for anyone running a nonprofit business. However, knowing your break-even point on specific products, services and the overall business operation is the key to strategic planning and maintaining and increasing profitability during the long term.
  • When Times Are Tough, Don't Cut These Costs
    05/10/2006
    Hard times can befall almost any business from time to time. When you're hit with an unexpected crunch -- due to a faltering economy, unfavorable trends in your industry or plain old tough competition -- your first instinct is probably to conserve cash.
  • Creating a Financial Plan for Your Small Business
    11/15/2005
    A financial projection, or financial forecast, is a tool you can use to see where your business is going, financially speaking. Typically, your forecast looks at your plans for the next few years and helps you understand how much money you will need to get to where you want to go, what it will cost in terms of sales, labor and so on, and how much you can expect to make once you do get there.
  • Keep Clients’ Financial Problems From Becoming Yours
    10/17/2005
    One of the biggest risks for service-oriented small businesses is the possibility that a client won't be able to pay for services rendered. But by looking for warning signs of a financially struggling client, you can stop cash flow problems before they start.
  • Opening a Second Location Without Going Broke… or Bonkers
    05/23/2005
    Opening a second office or store might multiply your sales, but it can also multiply your headaches if you don't take the time to plan ahead.
  • Never Run Out of Cash
    05/21/2005
    This weekly book review is brought to you by MyBUSINESS magazine, the small business magazine for NFIB members.
  • You've Lost Your Biggest Customer. Now What?
    03/30/2005
    It is an axiom of business that no customer is guaranteed to stay with you forever. Regardless of how loyal your customer may be, there are any number of factors that could prompt them to take their business elsewhere. It may be no reflection on the quality of your product or service; a customer might be merging with another firm that uses software or hardware that isn't compatible with your product.
  • Art and Science of Forecasting Cash Flow: Combination of Anticipated Cash Inflow and Outlay
    02/17/2005
    Forecasting cash flow can be a more complex and potentially variable task than most small-business owners think. Accuracy in cash-flow projections is important because it can help you know months in advance when cash reserves may become depleted. It's easier to prepare loan requests, balance inventory purchases and cut back on expenses such as marketing well in advance of actual cash shortages.
  • Extending Credit to Customers
    12/30/2004
    Q: I am fairly new to business and am wondering about extending credit to customers. What should I be on the lookout for?
  • Check 21 Could Mean Cash-Flow Adjustments for Small Businesses
    10/27/2004
    Small-business owners who have cash-flow problems now have something else to think about: a new law that speeds up the check-clearing process and eliminates the return of original paper checks.
  • Advantages of Leasing Equipment Over Purchasing
    10/26/2004
    Leasing equipment has specific advantages when compared to financing or purchasing with cash. A clear understanding of these can help when considering the acquisition of computers and office equipment, automobiles, machinery and other types of equipment vital to a company's operations.
  • How Much Cash Will You Need for the First 90 Days in Business?
    10/14/2004
    Many new business owners think they only need to account for their cash-flow needs up until the day they open their doors, but they need to think a bit beyond opening day. New business owners need to take a very close look at costs for the first 90 days their business is functioning.
  • Price Counts: Terms of the Sale
    09/15/2004
    The terms of a sale include the method of payment accepted by the business, the customer identification that is required, the length of time the customer has to pay and your return policy. These terms should be written up and posted so that they are clear to both your staff and your customers.
  • Monitor Cash Flow for Financial Health
    08/19/2004
    A business purchases materials and supplies, pays wages and upgrades equipment and facilities out of profits, right? Wrong, although that's what some people believe. Profits are an important source of capital for expansion and for reduction of debt obligations, as well as for the eventual ability to pay bills and meet payroll.
  • Don't Let the Good Times Get You Into a Debt Crunch
    05/03/2004
    The booming U.S. economy still seems to be churning along and this has encouraged companies of all size to take on additional debt for the purpose of increasing inventory, adding equipment, expanding operations, etc.
  • Building Equity
    09/19/2003
    Equity is all about value: what a company would be worth to someone buying it or what remains when ownership changes.
  • Surviving Tough Financial Times
    06/24/2003
    While recovery from the tight economy is under way, some small business owners have found creative ways to keep cash flowing during these tough times.
  • Cash Flow Maximization Methods
    04/16/2003
    In an uneven economy, it's vital for a small business to be able to sustain a juggling act between incoming cash and bill payment.
  • Working on Retainer Can Help Stabilize Cash Flow
    12/06/2002
    When you have a client who comes to you often, mention that it would be economically advantageous for them to place you on retainer.
  • Don't Wait Until Completion to Bill for Long Projects
    12/03/2002
    The worst thing a small company can do is go into a lengthy project without an understanding of when billing can be made.
  • Stay on Top of Cash Flow: Review Accounts Receivable
    07/23/2002
    To stay on top of cash flow, the true head of accounts receivable should be the company's owner.
  • Small Business Priority: Streamlining Cash Flow
    06/11/2002
    Small business owners and managers have a wide variety of options to streamline cash flow.
  • Early Warning Signals of Upcoming Cash Flow Problems
    06/04/2002
    During shaky economies, many small businesses have periods of cash flow disruption. So it's essential that every small company heed early warning signals that could indicate upcoming cash flow problems.
  • Build Your Credit Rating While Cash Flow Is Strong
    05/21/2002
    Banks always want to lend money to a company that doesn't need it. Small businesses can use this to their advantage by taking out loans when cash flow is steady and in the process build credit for the times when cash flow is spotty.
  • Pay Yourself First
    04/15/2002
    Employees of mid-size and large companies usually have the opportunity to put money away for retirement through 401K plans, which almost always are automatically deducted from wages.
  • Working on Retainer: The Ideal Situation for a Home-based Business
    04/15/2002
    When you began your home-based business, you were probably eager to take any work that came along, no matter how small, just to get started in your field.
  • Four Steps to a Streamlined Operation: What to Do Each Time You Get a Check
    04/15/2002
    Unlike employees of businesses, who usually have tax, health insurance and retirement money taken out of their salary checks, self-employed individuals have nothing taken out of checks they receive.
  • Avoid the Pitfalls of Having One Account Take Up Too Much of Your Billing Time
    04/15/2002
    Several years ago I ran into an outstanding opportunity in my career as a freelance writer and author of corporate biographies and life stories. I was contacted by the creative director of one of the large advertising agencies in my city.
  • How Small Businesses Can Adjust to a Slowing U.S. Economy: Part II
    03/07/2002
    With the long-expanding U.S. economy beginning to slow as the result of numerous Federal Reserve rate hikes during the past year, small businesses may be experiencing a changing economic environment that offers new challenges.
  • Creating Cash Flow Statements
    03/07/2002
    For a small business, no bookkeeping tool is more important than the cash flow statement, which projects cash inflows and outflows for a specific period of time.
  • How Small Businesses Can Adjust to a Slowing U.S. Economy: Part I
    03/07/2002
    With the long-expanding U.S. economy beginning to slow as the result of numerous Federal Reserve rate hikes during the past year, small businesses may be experiencing a changing economic environment that offers new challenges.
  • A Call in Time ... Saves You from a Bind
    03/05/2002
    Small businesses can get into a cash crunch quickly and unexpectedly.
  • How to Avoid the Cash-Crunch Blues in a Period of Rapid Growth
    03/05/2002
    Any business can grow so rapidly that its increasing operating expenses exceed cash flow with the result that debts cannot be met.