As a business owner, you do your best to guide your company away from economic problems and inspire growth. But each year, you always seem to fall into a few financial pits that cost you money and set your company back. As 2015 approaches, there are some financial pitfalls you need to be aware of so that you can take the necessary steps to avoid them.
Healthcare
In 2015, the guidelines for what kinds of businesses have to offer some sort of healthcare to their employees change and the fines for not offering healthcare go up. In some instances, you could offer inadequate healthcare to your employees and not even realize it until you get hit with the fines in your company taxes.
To help avoid the financial pitfalls that the Affordable Care Act brings for 2015, be sure that you talk to a qualified tax accountant about your responsibilities as an employer. If you do find yourself getting in over your head with healthcare costs and fines, then contact our professionals at the Advanced Funds Network and we will put together a plan that will get you out of healthcare trouble.
Allowing Your Credit To Slip
Your company's credit rating is critical to your future success and you need to continue to protect it and keep it strong. The problem with a company credit score is that it can be a slippery slope that starts off with allowing a couple of bills to be paid late, and then suddenly you have a stack of invoices that are past due.
There are two solutions to keeping your company credit strong. The first is to always maintain a strong cash flow that you can use to pay the bills as they roll in. The second solution is to have an account with Advanced Funds Network and talk to us about filling in the financial gaps when you cannot pay your bills with your cash. We will make sure that you are able to preserve the credit score you worked so hard to establish.
Hiring Too Fast
To be more competitive in 2015, you need to bring in more talent that will help you to succeed. But if you hire that talent too fast, then your payroll spending will start to outpace your cash flow and that can cause nothing but problems. It is important to remember that payroll is one of those obligations that must keep pace with cash flow or else you run the risk of having paychecks bounce, and that will cost you critical employees.
The Advanced Funds Network can help put together a plan that will allow you to hire the talent you need and maintain your cash flow at the same time. We will extend the funding you need to meet payroll and benefit from the new talent that you bring to your company.
Not Keeping Track Of Project Financing
It can be very easy to get so wrapped up in cash flow issues that you forget to attend to funding for your new product release or the expansion of your warehouse. If you wait too long to apply for funding, then your projects could be put on hold and your business will suffer.
Contact us at AFN and we will make sure that you have the starting funding you need to get your growth projects off the ground. Our financial professionals have all of the solutions your business need to keep project funding on track.
In order to make 2015 the best year your company has ever seen, you need to avoid the many financial pitfalls that are out there. When you work closely with Advanced Funds Network, you will get the cash you need to guide your business to success.
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