David Ehrenberg talks about the benefits of an early stage startup outsourcing their financial services rather than trying to do it in house and what they should be looking for in identifying the right company to hire. We talk about some of the biggest mistakes startups are making with their finance and accounting protocols as well as how David’s firm helps to prepare them to look appealing to a potential investment partner.
One difficulty that most startup founders and small business owners are all too familiar with is . . . fund-raising. In fact, a recent survey found that 27 percent of businesses responding reported being unable to access the funding they needed.
Startups should always strive to be innovative and affordable. Unfortunately, they don’t always succeed, as a CB Insights survey notes that 29 percent of startups fail because of cash-flow issues. For tech entrepreneurs who want to break into an established industry — or just start a business — research and development (R&D) tax credits are a great way to decrease taxes and increase cash flow.
What’s a well-known piece of business advice some first-time founders might misinterpret or struggle to implement properly?
No matter what industry you are in, including these items in your end-of-the-year rundown keeps your books in order and a CEO’s mind at ease.
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