Finance expert Mike Periu on the three business Financial Resolutions chief financial officers should make for the coming new year.
John Calia, partner at strategic advisory firm SCA Group, recommends three New Year’s financial resolutions for chief financial officers or those running your business’ finances.
1. Hold cash. It’s more important than ever to maintain a significant cash position to shield against 2013 uncertainty. European insolvency, Middle East unrest, the fiscal cliff and its potential resolution in the United States could all significantly impact your revenues and your ability to obtain financing.
2. Actively manage employee healthcare. PricewaterhouseCoopers expects healthcare costs to rise over 7 percent in 2013. Add to that the costs associated with implementation of healthcare reform in 2014 and it’s clear that businesses need to spend a great deal of time managing and preparing.
3. Defend your data. The rise of multi-platform, mobile devices in the workplace can blur the line between work and personal access to data. It’s important to ensure that business data remains safe even if being accessed by an employee on their iPhone in bed at 3 o’clock in the morning.
About small business finance expert Mike Periu
Mike Periu has experience in small business finance. He founded Proximo, LLC a company that offers consumer and small business training services focused on technology and money.
Mike Periu teaches individual empowerment through entrepreneurship and financial literacy. He has appeared 500+ times on television and radio. Visit the Reach and Media pages of his website to learn more about where he has appeared.
You can read more of Mike’s articles on his blog or at American Express OpenForum, Yahoo! Finanzas and the Huffington Post.
Mike has a degree in International Business and Finance which he received at Georgetown University in Washington, DC. He received a Fellowship from the Kauffman Foundation for the Labs for Enterprise Creation program in Kansas City.
