Finance expert Mike Periu on the European economy's financial health. Europe Once Again in Recession The Eurozone economy, which includes Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia and Spain, is once again in recession after the GDP shrank last quarter by 0.1 percent. While France and Germany still managed to squeeze out tiny economic growth, it wasn't enough to offset the impact of … [Read more...]
Figuring Out the Right Pace of Change for Your Company
Finance expert Mike Periu on determining the right pace of change for your company to keep your business financially sound. There will come a time when your company will need to go undergo significant changes in the way it does business in order to remain financially viable. You may have to change your pricing structure, your business model, your product offering or where you do business. The challenge lies in figuring out what is the right pace of change; if you try to change too quickly you … [Read more...]
Tax Increases for Successful Business Owners a Near Certainty
Finance expert Mike Periu on tax increases ahead for small business owners. President Obama held his first press conference in 8 months yesterday. Among the topics covered by reporters was income tax increases relating to fiscal cliff negotiations. The President indicated that a key component of his position for this negotiation and a tenant of his second term will be to increase income taxes on households earning more than $250,000 per year. It appears that this tax increase will happen no … [Read more...]
The Secret to Boosting Profits
Every small business has its payment and pricing mistakes. Fixing these small errors could increase your profitability by 20 percent. The Secret to Boosting Profits by 20 Percent No company can run a perfect operation. The challenge is to minimize the cost to your business of the errors that occur. A common mistake that many companies make is miscalculating the amount of money to collect from customers. A recent study indicates that on average companies lose about $10,000 for every $1 million … [Read more...]
Turn European Economy Around
Finance expert Mike Periu on the European economy's financial health. The One Person Who Can Turn European Economy Around. The Eurozone economy, which includes Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia and Spain, is once again in recession after the GDP shrank last quarter by 0.1 percent. While France and Germany still managed to squeeze out tiny economic growth, it wasn't enough to … [Read more...]
Calculating the True Cost of Your Retirement Plan
Finance expert Mike Periu on how to evaluate the true cost of your retirement plan.. Since July of this year, new fee-disclosure rules took effect that requires full disclosure of 401(k) fees and expenses by financial firms offering to administer these plans. This disclosure, however, doesn't apply to sales and marketing materials like PowerPoint presentations which are typically used to convince business owners to offer their employees a 401(k) plan. Choosing the wrong plan can lead to … [Read more...]
Why Small Manufacturers Must Prepare for Sequestration
Finance expert Mike Periu on how small manufacturers mush prepare for Sequestration and the financial Impact on them. Small Manufacturers must Prepare for Sequestration, It will lead to $1.2 trillion in spending reductions beginning in January, with half of that coming from the defense budget. According to National Defense Magazine, military spending is expected to decrease by nearly $500 billion over the next 10 years. This doesn't include the impact of Sequestration, which is an automatic … [Read more...]
Deadline Approaching for Free Foreclosure Review Program
Finance expert Mike Periu on a free foreclosure review program which expires at the end of this year. Homeowners who lost their homes to foreclosure in 2009 or 2010 have until December 31st to request a free, independent review to ensure that they were treated fairly and that the process was handled legally. Many small-business owners mortgaged their homes to fund their businesses and ultimately lost one or both. This free review is overseen by the Office of the Comptroller of the Current … [Read more...]
Document Your Business Income to Avoid Costly Tax Errors
Finance expert Mike Periu on ways to avoid costly tax errors. Millions of small businesses use accounting software packages like QuickBooks. Many, however, don't have the proper training which can lead to overstating or understating your revenues. The first will cause you to overpay income taxes; the latter could lead to an audit and underpayment penalties. If you have multiple bank accounts and transfer money between them, make sure that you use the bank transfer module in your software to … [Read more...]
Create a Budget-Oriented Culture in Your Business
Finance expert Mike Periu on how to Budget-Oriented Culture in Your Business. Create a budget-friendly business for your employees. Early stage businesses govern their operations more by vision than by a budget. This makes sense, because without a track record it's difficult to develop a credible budget. But over time as the business expands, it needs structure to grow successfully. If your employees are not accustomed to working with a budget, it could lead to culture shock and the false … [Read more...]
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