The financial media are in a tizzy. The latest predictors are showing the US economy may be headed for a recession. After ten long years of economic expansion it looks like the party is coming to an end. As a business owner, this impacts you in a very real way. As a leader whose job it is to care for those who work for you, the thought of a reduction in work and the potential of layoffs is miserable. Considering you know the names of the family members rely […]
BELOW GROUND
You have little to no engagement with your accounts.
The qualifiers.
- No vendor relationships, you resell retail products
- No differentiation between cost of good and expenses
- You digitally submit and approve time cards
- No collection of sales tax
- Late payments on account (tax return is in arrears, late loan repayments)
Some big (and simple) changes would reshape your position but you’re gonna want to take action pretty quickly.