What are the key differences between a bookkeeper, CFO & CPA?
Bookkeeper vs CPA vs CFO , which one to choose? As a small business owner, it’s wise to engage a team of professionals who will help you manage your finances. However, who should be on your team? And how do their roles differ?
Before we dive into the details, here’s the big picture:
A bookkeeper processes and records financial transactions in accounting software.A CFO is a highly experienced finance professional who’s ...
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Resources
8 Essential Components of a Killer Business Plan
Today we are talking about the 8 components of creating a business plan. Starting a business is both exciting and challenging. You can design your own career, be your own boss, and pursue your passion. But, according to the Small Business Administration, only two-thirds of businesses survive at least two years. About half survive at least five years.
Want to know the secret to start off on the right foot? It’s a killer business plan. You need to define your strategy and tactics for ...
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6 Savvy Ways For Small Business Owners to Increase Profits
Increase profitability through these 6 simple steps
In this post, I'll share 6 ways for small business owners to increase profits. We know that, when comes to profit, small business owners often feel like they’re on a roller coaster ride. Whether you’re just starting up or you have an established business, you’re likely experiencing some ups and downs.
One year your profit is great and the next year you might not be able to avoid a loss. This is especially true when unexpected events ...
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Paycheck Protection Program Loan Forgiveness
Paycheck Protection Program Loan Forgiveness
Editor's Note: Information in this Paycheck Protection Program article was last updated on June 24, 2020.
What is the Paycheck Protection Program Flexibility Act?
Have a Paycheck Protection Program (PPP) loan? If so, you may be wondering how to qualify to have the loan forgiven.
Well on June 5, 2020, the Paycheck Protection Program Flexibility Act (PPPFA) was signed into law. This means the PPPFA makes it easier for small business ...
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5 Financial Tips for Reopening a Small Business
Editor's note: last updated on July 30, 2020.
5 Financial Tips for Reopening a Small Business
You may be wondering, "is it safe and financially feasible for reopening a small business?" Well, after an extended period of closures to reduce the spread of the coronavirus (COVID-19), businesses that survived the economic downturn are starting to reopen. In this article, we'll review financial tips to help you with reopening a small business and stay open during these uncertain ...
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Coping with the Coronavirus Cash Crunch
Coping with the Coronavirus Cash Flow Crunch
Revised August 2020.
If you're like most small business owners, you are suffering from cash flow challenges due to the coronavirus pandemic. With lots of money going out the door and much less coming in, what should you do to cope with the coronavirus cash flow crunch?
In this article, we'll discuss four critical steps to take to ensure your business survives this unprecedented time:
Forecast cash flow Adapt your business ...
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The Paycheck Protection Program (PPP)
The Paycheck Protection Program (PPP)
Editor's note: This article was last updated on June 9, 2020. It reflects loan forgiveness changes outlined in the Payment Protection Program Flexibility Act.
If you're like many small business owners, you may be struggling to retain employees during the COVID-19 pandemic. Fortunately, federal financial assistance programs can help. In this article, we'll discuss the Paycheck Protection Program (PPP).
What is the Paycheck Protection ...
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Economic Injury Disaster Loans (EIDL) for Small Businesses
Economic Injury Disaster Loans (EIDL) for Small Businesses
The coronavirus (COVID-19) pandemic is wreaking havoc on small businesses.
As a small business owner experiencing a loss of revenue from the novel coronavirus (COVID-19) pandemic, you're probably losing sleep at night wondering how your business will survive in these uncertain times. The mental narrative playing on repeat in your head may sound something like this:
"Coronavirus is crushing my business! How will I serve my ...
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5 Financial Tips For a Prosperous New Year
5 Financial Tips For a Prosperous New Year
Every year, millions of people make New Year's resolutions, hoping to improve some aspect of their lives or the lives of others. As a business owner, you probably have many ideas about how to improve your finances in 2020. But with so many opportunities, where should you begin? Start by reading up on these 5 financial tips for a prosperous 2020!
1 | Set Measurable Financial Goals
2020 is the year to think big for your business. What ...
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6 Cash Flow Mistakes To Avoid
6 Cash Flow Mistakes to Avoid
“Entrepreneurs believe that profit is what matters most... But profit is secondary. Cash flow matters most.” - Peter Drucker
Cash is truly the lifeblood of your business. Without it, there’s no money to hire employees, buy supplies, or repay debt. According to a US Bank study, 82% of businesses that fail do so because of cash flow problems. Don’t be a statistic- learn six cash flow mistakes that can sink your business, and how to ...
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Small Business Budget Template
Small Business Budget Template
Need a budget for your small business? Save yourself the hassle of creating it from scratch. Download our free small business budget template. Use the "goods" page if you sell goods or the "services" page if you sell services.
download now
About Momentum CFO
Momentum CFO is a boutique firm specializing in outsourced Chief Financial Officer services for small to mid-size businesses. We bring the benefits of Fortune 500 financial expertise to ...
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New Hire Cost Calculator
New Hire Cost Calculator
Learn Your Total Costs of Hiring
Are you planning on hiring new employees? Before you start recruiting, it’s important to understand the total costs of hiring.
A common misconception among small to mid-sized business owners is that the cost of a new employee is limited to his or her salary or hourly wages. It’s easy to overlook how employer-paid costs such as payroll taxes and insurance, benefits, job supplies, recruiting, and harder-to-quantify ...
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Small Business Financial Management Checklist
Small Business Financial Management Checklist
Do you need a financial management checklist for your small business? Well, you're in luck! You're in good company if you're unsure about what you should be doing to keep your business finances in order. Many small business owners benefit from guidance on how to manage their finances. Here's a handy checklist to keep you on track. Contact us if you need help completing these tasks.
Daily Checklist
Check account balancesDocument ...
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