Essential Financial Tips for Business Owners Who Aren’t Experts
Managing a business requires a diverse set of skills, and one area that often trips up even the most successful entrepreneurs is finance. For many business owners, finance isn’t their strong suit, and the intricacies of balancing books, managing cash flow, and forecasting future expenses can feel like uncharted waters. But you don’t have to be a financial expert to steer your business toward success. With the right strategies and a bit of proactive planning, even a novice can master the basics and ensure
A Guide to Managing Finances as a Not-Numbers Business Owner
Every successful business is built on more than grit and good ideas. Money, and more precisely how it’s handled, is often the unglamorous backbone of whether a company thrives or tanks. But not every entrepreneur came into their business dreaming about spreadsheets and cash flow forecasts. In fact, many small business owners are artists, problem solvers, or product lovers—not number crunchers. For those who see financial management as foreign territory, there’s good news: it’s still very possible to run a
FinCEN's BOI Filing Deadline is 01/01/2025 - Kennebunk, ME Businesses Should File Now to Avoid Potential Fines
The Corporate Transparency Act (CTA) requires businesses to report Beneficial Ownership Information (BOI) to FinCEN to enhance financial transparency and deter financial crimes. As of today, November 27, 2024, Kennebunk, Maine, business owners have 35 calendar days (or 25 business days) left to file their BOI report with FinCEN—don’t delay, or you could face $500 per day fines! What You Need to Do:1. Determine if Your Business Must File. Most LLCs, corporations, and small businesses qualify as
Surviving Job Loss with Financial Smarts and Resilience
Life can feel like a rollercoaster, and finding yourself between jobs might be one of the most heart-stopping drops. Yet, amidst the uncertainty, there lies an opportunity to navigate this transition with resilience and resourcefulness. Rather than succumbing to financial stress, you can employ a suite of smart, actionable strategies to keep your finances steady and your mind at ease. Whether it’s uncovering hidden treasures in your home or even starting a side hustle, these approaches not only help you
