Small Business Articles

How to create a business risk management plan

Operating a small business can be exciting and rewarding. It’s also inherently risky. Many types of unforeseen events can produce unexpected expenses, including workplace injuries, property damage, mistakes, auto accidents, and cyberattacks, to name just a few. That shouldn’t discourage you as a business owner, but it should prompt you to take action to protect your company. One way to do that is to create a risk management plan.

9 tips for time management in business

As a business owner, one of your most precious resources is time. It often feels like there’s just not enough of it. While you can’t magically create more hours in your day, you can use the existing ones more effectively by leveraging proven tips for time management in business.

What is cash flow in a business?

Cash flow refers to money moving into a business (like from sales revenue) and out of it (for critical expenses like rent, salaries, and business insurance). While it's important to focus on profit, cash flow can be a more real-time indicator of how a business is performing.

Business insurance and climate change: what you need to know

Climate change has been happening for decades, but the world is feeling its effects more than ever today. That includes businesses—large and small—that are being impacted by storm damage, supply chain disruptions, resource scarcity, and other factors intensified by climate change. To be successful, business owners need to recognize and adapt to this new challenge, including understanding the link between business insurance and climate change.

Understanding the basics of business contracts

Business contracts are an essential part of operating a small company. These agreements are crucial for many reasons, from managing risks to ensuring clarity in business relationships. This article explains what business contracts are and how, along with having adequate business insurance, they can help protect your company. It provides high-level information on this important subject, but you should talk with an attorney about any contract you’re drafting or that you’ve been asked to sign. Contracts are binding legal agreements, so it’s essential to understand the implications before you enter into them. Read on to learn more.

Preparing your small business for hurricane season

As a small business owner, you juggle a lot. From finding new customers to hiring reliable help to the rising costs of goods, there is a lot to think about each day. While no small business owner wants additional “to-dos” on their list, we think you’ll agree that being proactive often has more benefits than being reactive—especially in relation to emergencies.