Putting together a financial plan for your company will help ensure you're prepared to fund operations and generate income. Compiling a yearly budget also allows you to put aside funds for expanding your business.
Expansion is the name of the game for many small and medium-sized businesses (SMBs) right now. In fact, more than half of surveyed SMB owners believe their enterprises have either already recovered from the recession or will in the next six months.
As a result, nearly one-third (32 percent) plan to hire additional staff – a 5 percent increase from 2010 – and 15 percent aim to bring on temporary workers. More than two-thirds (67 percent) aim to funnel funds into the creation or expansion of their online presence, while 57 percent plan to engage in social media marketing.
Bring in a financial services planner from your local community bank to make sure all expenditures are accounted for and help your small business plan be the best it can be. Get in touch – it's easy. Call us at 1-888-mybank4, visit mybank4.com or drop by a branch anytime.