by Royer Advisors | Dec 11, 2024 | Accounting Standards, Business Plans, Financial Planning
In order for lenders to award credit, they need to see detailed budgets, including cash flow forecasts. These have to include realistic projections, not guesses at profit and revenues. Cash flow projections are especially important as they show how small businesses...
by Royer Advisors | Dec 11, 2024 | Business Plans, Financial Planning
Many Mainers are considering going into business for themselves. One of the things that must be decided is whether or not a franchise would be the right choice for these new business owners. Basically, a franchise gives the business owner the licensed right to use a...
by Royer Advisors | Dec 11, 2024 | Business Plans, Financial Planning
Even in good economic times, Maine-based small business owners can find it difficult to grown their profits. There’s a lot to be gained by learning how to become more profitable without growing the company bigger. Consider a Profit Audit Most small businesses have...
by Royer Advisors | Dec 11, 2024 | Financial Planning, Valuations
According to the International Glossary of Business Valuation Terms, goodwill is defined as: “That intangible asset arising as a result of name, reputation, customer loyalty, location, products, and similar factors not separately identified.” The remainder...
by Royer Advisors | Dec 11, 2024 | Business Plans, Deductions, Financial Planning
As a Maine-based small business owner, you may be wondering if you can write off bad debts at tax time. Since cash-basis companies don’t recognize revenue until it’s received, and therefore wouldn’t have anything on the books to deduct, only businesses that record...
by Royer Advisors | Dec 11, 2024 | Accounting Standards, Financial Planning
As a Maine-based small business owner, it may make sense to share employees with one or more related companies, each paying its share of wages and compensation. This might make sense for a number of reasons, but one important one is that a “common...
