While big corporations have always seen the value in enlisting the help of professional bookkeeping services to take care of their books of accounts and financial statements, the same cannot be said about small businesses. Things are looking quite dire if we look at the stats. According to stats compiled by Forbes, out of a whopping 33.2 million small businesses, only 6.1 million have more than one employee. This means that 81% of small businesses operate as a one-man show.
Running a successful business in the 2020s is a herculean endeavor, to say the least. One of the biggest reasons for this increased difficulty is globalization and the limitless potential of the global market. Businesses now need to think of more than just their locality; the world has become a competitive battlefield for businesses. With physical distances becoming less of a problem, supply chains have become one of entrepreneurs’ biggest areas of concern. Products are no longer just manufactured in
Gen Z is rising to the challenge armed with cutting-edge personal finance management software in a world where financial independence is the name of the game. Like investors of any generation, teenage investors come in all classes, from the nervous to the bold. Neither approach is a recipe for financial success. This tech-savvy generation is about grabbing and controlling their financial fortune in style. Financial Management Tools helps to visualize all your financial accounts in one position, efficiently accessible on
Staff augmentation services have been making waves in the US. With so many US business sectors in severe need of personnel in the wake of the Great Resignation, it’s only natural that entrepreneurs and business moguls would search for a way out. This is precisely the reason why Business Process Outsourcing (BPO) and Staff Augmentation services have come into the spotlight. The business world needs good workers to build a united front against the prophesized recessions of the 2020s. It
The E-commerce industry has certainly flourished into one of the biggest and most profitable business ventures of the 2020s. With a marvelous growth rate of 8.9% in 2023, as well as a projected sales increase of 50% for the US alone in 2023, as reported by Oberlo. E-commerce is on track to overtake the retail industry and become the primary medium of sales worldwide. With corporations like Amazon and eBay standing as pillars of the E-commerce industry, what could possibly
This guide provides a foolproof system that allows ANY company to succeed with offshore accounting services. This system has helped many companies, such as Sara Lee (now Hillshire brands), leverage access to specialized expertise. Hence, it helped them dramatically increase their company’s productivity. Once you have read this guide, you will know the following: ✔️What is offshore accounting? And what are its benefits? ✔️What to look for in an offshore accounting services provider. ✔️ Difference between offshoring and outsourcing accounting?
In order to keep up with the competition, restaurant owners should be familiar with the five key sections in the cart of accounts that will be discussed in this blog. Since restaurant owners are finally hitting their stride after a harsh two years of stunted growth, new restaurants and family-owned food spots are opening up regularly. This is happening especially among housewives who have found food sales to be a highly accessible and lucrative avenue for income. Taking a glance
In a recent Expertise Accelerated publication on the QuickBooks Online Accountant software, our experts presented a thorough breakdown of the various subscription tiers available for the software to help entrepreneurs and accountants make the best choice for their needs. However, in that article, we deliberately left the subject of QuickBooks Desktop out for brevity and simplicity. Now that we have adequately addressed QuickBooks Online and its subscription model, it’s time to make the ultimate comparison between the two to give
Accounting has always been a stable profession, but with the relentless rise of AI, its future promises even greater opportunities (and challenges.) Whatever the case is, one thing is certain that it is here to stay! If you’re (still) pondering AI in the accounting and finance realm, rest assured—AI has already firmly established its presence in most firms for all their accounting and finance needs. Hence, embracing AI in accounting ensures competitiveness in today’s digital landscape. Benefits of AI in
The state of future financial uncertainty is by far the worst position that an entrepreneur can find their business in. With the ever-shifting economy of the post-pandemic business landscape, cash flow projections and management have become paramount in the eyes of many in the business community. One of the leading causes of mass business closures during the pandemic was, after all, the inability of businesses to maintain their operations due to poor cash flow management and limited to no savings.