Friday, 23 February 2018

Information and commentary for the small business banking industry

Getting the basics right for 2017

23 Jan

Many small business owners will already be plunging into 2017 with a well-thought-out plan they developed before the 2016 Christmas rush. However there are those who might have been distracted by other things – likeĀ  a certain event that took place in Washington over the weekend – and are just now starting to look at how their business can succeed and profit in the new year.

This is where you, their bank, comes in. Talk to your small business advisors about how they can point some of their clients in the right direction, especially if direction’s an area where some of them are lacking.

For instance, what’s their cash flow situation looking like? Is there anything they want to buy this year? Can you help them to reduce expenses and increase cash flow? What about their workplace and their employees – are there any issues there that need addressing?

The start of the year is a great time for business owners to review and to talk to their staff about the goals for the upcoming business year. And they’ll be turning to the small business section on their bank’s website to see if there’s anything useful there, so it’s also a great time for banks to review their small business resources and update them.

The below article looks at a variety of different things small business owners should be aware of as they head into the new year.

Read the full article at: www.smallbizdaily.com

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