Accounting, Bookkeeping, Payroll, Human Resources, Business Continuity

Gary Fredericks

The 3 Big Economic Indicators You Should Track

The Role of Global Economics in Your Small Business

Did you know your small business can feel the impact of the global economy before larger businesses are affected? Small businesses, because of their size and more streamlined decision-making process, have certain advantages over their larger counterparts. Yes, even small business leaders should pay close attention to what is happening with the economy on a global scale.

Economics gets complicated, especially as the world becomes more connected. A stubbed toe in Belgium can cause a broken foot in the United States. This doesn’t necessarily mean you should hire an economist, or sign up for college courses on macro and microeconomics, but there are three statistics you should keep track of to stay informed: read more

Is Your Technology Failing You?

Are you looking at your business’s new technology and wondering why you’re not getting enough bang for your buck? Well, the problem might not be the technology. Many business leaders want fancy apps to impress clients, increase efficiencies, lower COGS, and improve profits. This strategy makes sense and sounds easy. But human nature makes it harder to do. If it were that simple, there would be many more successful small businesses and self-made millionaires. So, what’s keeping us all from achieving success? read more

Are You an Effective Leader?

3 Tips to help you become a better leader…

The words “Leader” and “Leadership” get thrown around quite a bit in today’s world. How can you know if you’re a good leader? Three qualities effective leaders should have are Vision, Passion and Empathy. Let’s look at what makes these characteristics important to effective leadership. 

Vision

Vision could be interpreted as a concept that allows one to see far off in the distance. It almost sounds like science fiction! Vision, however, is not fictional but a very real superpower– it describes the ability to see possibilities. For instance, you could pick up a plain white globe and consider all the possibilities of what that globe could be. It could be a baseball, tennis ball, the Earth or another planet, an orange; you get the picture. A leader should have the ability to see many uses for an object, product or service.   read more

Managing Financial Duties

How to Implement Proper Financial Controls in Your Small Business.  

Do you reconcile your books? Do you automatically download your bank transactions into your accounting software? What happens after that? Do you perform a manual reconciliation? If yes, congratulations because you are limiting your financial exposure. If not, you should be!  

Simply downloading bank statements is NOT reconciling your books. The purpose of reconciling your books is to ensure all financial transactions are accounted for properly and that no money has left your company without you knowing about it.   read more

Plan For The Worst, Expect Success

Stand Apart from Competitors When Disaster Strikes

Over this past year, I’ve seen many businesses claiming that “Due to the COVID-19 Pandemic we cannot offer the quality of service you have become used to…” While the turmoil of a global pandemic has affected us all, one of the essential parts of running a business is planning for setbacks that may come unexpectedly.

While it is extremely important to make sales and generate revenue, it is also extremely important to provide a high level of customer service. If you seem unwilling to back your product or service, word will get out and you will lose business. COVID-19 has been spreading out of control for over a year. As a consumer, I would think that you’ve had plenty of time to set a new plan into motion. read more

So, you want to be an Entrepreneur?

Part 1 in our Entrepreneurship Series

For the past 40 years, my career has taken many interesting turns and sent me in many directions that I never anticipated. From Wall Street to Main Street, and everywhere in between. All the while, my dream was to own and lead my own business.

As a film student in college, my mission was to build a production company and produce artistic works like films, music, and videos. I took some accounting courses, business law along with all the classes I needed for my major. read more

“Miracle” Payroll Apps

Financial Analysis

Sometimes You Get What You Pay For

We finally made it to 2021. With the change in year comes a new wave of ads for products that can make a business owner’s life easier. This includes apps that enable you to process payroll “with just the click of a button.” These apps may be good at processing your payroll, but they fall short with everything else you face as an employer: paying quarterly taxes, signing up for unemployment insurance in each state your workers come from, securing workers’ compensation insurance, handling audits, tracking family leave, and more. read more

Need Working Capital?

Beware of the Wolf in Sheep’s Clothing

One of the biggest nuts to crack when you start a new business is working capital. I’ve been down this road a few times and have learned that seeking a “working capital” loan can be very expensive. It can also do more harm than good—if you’re not careful.

There are many different types of loans. Some are secured (collateralized) and others are unsecured (uncollateralized). Then there are fixed and variable rates, as well as different length terms. In this article, we’ll focus on unsecured debt that’s borrowed for the longest term you can get. If you have no credit or bad credit, that term will be about 9 months. read more

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