Business Sense

New Years Resolutions for Small Businesses

Thursday, January 05, 2012

Like many of us, you may have made some New Year's resolutions regarding health, personal finance or family matters. But there is no reason why a small business shouldn't also resolve to make improvements.

In the New Year, it is the perfect time to make positive changes happen in your company. Some of the obvious issues important to small businesses are Cash Flow, Budgets, and Sales.

Cash flow should be at the top of every small businesses list of priorities. Not having enough cash at the end of the month to cover your expenses is a trap many entrepreneurs experience. They may think they have plenty of sales but don't plan for the possibility of not receiving payment in time to meet their expenses.

Budgeting is another area that small businesses often overlook. Having a sales plan is essential. Without a goal or direction you can easily run the risk of becoming complacent, making you vulnerable to competition.

We recommend the following article that highlights eight smart resolutions that small businesses can make in the New Year to improve their results for 2012.

Read More Here:

8 Financial New Years Resolutions for Small Business Owners >



NOTICE OF EXPIRATION OF THE TEMPORARY FULL FDIC INSURANCE COVERAGE FOR NONINTEREST-BEARING TRANSACTION ACCOUNTS 

EFFECTIVE JANUARY 1, 2013

By operation of federal law, beginning January 1, 2013, funds deposited in a noninterest-bearing transaction account (including an Interest on Lawyer Trust Account) no longer will receive unlimited deposit insurance coverage by the Federal Deposit Insurance Corporation (FDIC). Beginning January 1, 2013, all of a depositor’s accounts at an insured depository institution, including all noninterest-bearing transaction accounts, will be insured by the FDIC up to the standard maximum deposit insurance amount ($250,000), for each deposit insurance ownership category.

For more information about FDIC insurance coverage of noninterest bearing transaction accounts, visit www.fdic.gov.


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