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Business Advice

Tips for Managers Leading Remote Teams

By Business Advice

Whether the employees you manage recently started working from home due to the coronavirus pandemic or your company has had this arrangement in place for a while, you face unique issues managing a team remotely. As a provider of supportive services for small businesses in Milford, Ohio and the surrounding communities, Orcutt & Company is here to help you succeed in any business environment. Below we offer several tips for managing a remote team as efficiently as possible. Choose the…

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Is It Worth the Money to Have a Second Job?

By Business Advice

The past year hasn’t been kind to many small businesses and workers. It hasn’t been uncommon for people to step outside the box, or at least consider other options, to earn more.  The gig economy has become an incredibly popular choice as a way to earn part and even full-time income. People drive for ride-sharing services, deliver groceries, walk dogs, and rent out spare rooms in their homes. But, is a second job like this something you should pursue? Before…

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How Do I Get My Business Started?

By Business Advice

More than 600,000 small businesses open in the U.S. each year, but not all are successful. The thought and planning you put at the beginning of your journey can have a lot to do with the success or failure of your enterprise.  If you’re worried about how best to start your business, this is a valid concern. According to the Small Business Administration, just over half (51%) of small businesses last past the five-year mark. So, what are some of the…

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8 Important Accounting Services That Will Help Your Small Business Succeed

By Business Advice, Tax Advice

Unless your small business is in the tax, accounting, or finance space, you may not have the in-house experience and expertise you need to achieve your goals. According to a recent Small Business Accounting survey, just 40% of small business owners believe they are extremely or very knowledgeable about finance or accounting matters.  Most businesses need help, and there’s more involved than recording a few numbers in some columns. The truth is that an accountant can do much more for your…

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7 Ideas to Boost Your Benefits Package

By Business Advice, Tax Advice

Employees want to be paid a fair wage, and this something that every company should make a priority. But one of the most impactful ways that a company can set itself apart and let employees know they are valued is by investing time and resources into a robust benefits package.  According to a survey released by the Society of Human Resource Management (SHRM), 92% of employees state that benefits are tied to overall job satisfaction. More importantly, nearly a third of employees…

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How Do I Start the LLC Process?

By Business Advice

If you want to start a business, or secure additional protections for an existing one, forming a Limited Liability Company, or LLC, could be the ideal choice. LLCs are designed to be an inexpensive and simple setup and are easy to operate. Most people who are thinking about starting an LLC have a long list of questions. Here is what you need to know. The Benefits of an LLC One of the main benefits of an LLC is that it…

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Collecting A/R Increases the Bottom Line

By Business Advice

Few things are more frustrating for a small business than dealing with clients who won’t pay for the products or services you’ve provided. It’s tough enough to manage cash flow. But when money isn’t flowing in as you had planned, slow payers can jeopardize your business. If you invoice your customers, you also need a sound strategy for collecting A/R.  Understanding Small Business Debt Collection One of the services many businesses provide is delivering products or services and then billing…

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Help! I Need Business Credit FAST

By Business Advice

If you own a business, it might not be entirely necessary to build business credit, but there are several reasons why it’s a good idea. But this isn’t something you can accomplish overnight. Here is why you might want to start working on building business credit and some of the steps you can take to do it.  The Benefits of Having Good Business Credit When you don’t separate your business and personal finances, you could put your personal credit score…

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Budgets

Why your Business Needs a Budget and How to Get Started

By Business Advice

Whether you own a business or run a household, budget planning is integral to fiscal well-being. But, why is a budget so important? Targets your Priorities A budget isn’t a secret; it can offer a way of targeting, and then setting, priorities for your business. Typically, these priorities are related to cash-flow, and how you will spend the resources that you currently have. It also demonstrates to all the members of your team what to focus on; for example, if…

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outsourcing accounting

When You KNOW It’s Time to Outsource Accounting Functions

By Business Advice

When it comes to running your business, you may take the approach that handling as much as possible in-house is the way to save cash and “be lean.” But, many business owners find that it can be incredibly challenging to take on all of those additional duties, which might range from IT functions to filing taxes to payroll.  When it comes to handling your company’s full range of accounting services, you might be able to handle these internally for a…

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