Small businesses are living on the edge just like the rest of us teetering ever closer to that fiscal — So how can business owners braced for a possible climate. Watch More News Videos at ABC | 2012 Presidential Election | Entertainment & Celebrity News
It’s been a tough year for many small businesses, and some clients have been slower than usual to pay their outstanding invoices. When a customer fails to pay in a timely fashion, it creates a cash flow crunch. It would be great if customers paid you up front. But that, of course, isn’t realistic in most cases. So what do you do?
The cold and flu season takes its toll on America’s businesses. According to the Centers for Disease Control, the flu alone costs U.S. companies $10.4 billion in direct costs — which includes hospitalization and other medical expenses. In addition, illnesses that spread throughout the work environment cause 22 million sick days which cost businesses significantly in terms of lost productivity. Healthy Work Place Project estimates a 25 employee company loses $33,000 every year to lost productivity and having to hire temporary workers to replace those who are because of illness.
Who couldn’t use a little extra cash for their small business. You could win $10,000 as part of the 2013 Dream Big Small Business of the Year Award sponsored by Sam’s Club® and the U.S. Chamber of Commerce. The programs is designed to honor standout small businesses and the people who run them. The winner, seven regional finalists and 75 Blue Ribbon winners will be recognized at America’s Small Business Summit, April 29 to May 1 in Washington, D.C. Applications must be submitted by January 7, 2013. (The day after my birthday!) Click here for more info.
When it comes to managing travel and related expenses, I find many small business owners are much like me. They don’t have formalized travel policies or a streamlined process. Plus, the majority of us manage our travel expenses by filling out reports manually and stapling receipts to them. Often we forget something or just fail to submit a report at all. That’s just not good business.