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Whether we’re headed for a recession or not, it’s always a good time to squeak out more profits from your business books. We’re not talking about drastically slashing expenses or excessive spending to raise revenue; the tips in this article are long-term ideas to gently lift up your profits.

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I am moving for the first time in 15 years. Moving made me take stock of what I have in my house and what I really don’t need to take with me. While going through old filing cabinets, I realized how many paper files I had from when I first started First Steps Financial over 10 years ago—back before we went paperless.

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Almost every successful business owner craves accountability. We’re wired to respond to crises and to help others, sometimes before we help ourselves.

Entrepreneurs are great at running their day-to-day businesses, but some need more accountability to meet internal deadlines and long-term goals. Let’s take a closer look at increasing accountability.

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The short answer to this question is YES! Incidents of cybercrime have been problematic for a long time, but have increased exponentially since the start of the pandemic.

If your firm’s reputation depends in part on your ability to keep confidential client records secure, cybercrime insurance is a must. It’s not a matter of if but when your private business info will be breached.

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Pick up just about any public company’s most recent annual report, and you’ll find a section on ESG. ESG stands for Environment, Social, and Governance. It’s a growing trend that not only considers, but also measures a company’s sustainability performance on ESG issues. A new generation of investors is driving this movement as they become more discerning when selecting companies to invest in.

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Internal theft in business is all too common. Search the internet and you will find many articles about embezzlement by trusted employees.

The good news: There are steps you can take to safeguard yourself and your company without relying on ‘trust’ as a method of prevention.

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How can I tell if I’m hiring a good bookkeeper? Small business owners and other accountants that hire bookkeepers to work in their firms ask us this question all the time.

When we interview bookkeepers, we pay special attention to these areas to make sure the person we’re hiring is a good fit.

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Start by asking yourself some basic questions. Why do you want a bookkeeper? This will point you in the right direction.

Some common whys:

-I am not well versed in accounting.
-I do not like this part of my business, but I know it is necessary.
-I know I can move this company forward if I bring in someone to take over this role.

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Is keeping track of your financials the bane of your business? While you might love the work you do, invoicing, paying bills, and reviewing the financials probably aren’t your favorite tasks.

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A refund policy defines the processes and rules for when customers want to return the products or services they purchased from you and get their money back. It’s often required by your credit card or shopping cart company as part of maintaining PCI (Payment Card Industry) compliance. Plus, it’s just a good, fair business practice to post a refund policy.