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Financial Management Key to Small Businesses, Says NetSuite Exec

Topics: Cash Flow, Ecommerce, Financial Management, Sales, Small Business

Financial management is critical to ecommerce companies. But the tools to manage financial matters vary, and many of them don't automatically integrate with a merchant's ecommerce site, making the financial tracking and reporting process even more burdensome. To help us understand financial management for ecommerce businesses, we spoke with Jim McGeever, chief operating officer for NetSuite, a hosted, all-in-one ecommerce platform. Jim McGeever: "Well, no one really likes to do accounting. So, we've set up our accounting module, NetSuite Financials, in such a way that you shouldn't really feel like you're doing accounting. You should feel that you're running your…

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Financial management #FAIL

Topics: Accountant, Copyright, Financial Management, Gross Domestic Product, Small Business

Michael Derin is the founder and managing director of accountancy firm Azure Group. Derin is passionate about helping small and medium-sized businesses reach their financial and business objectives and achieve success. He has developed sophisticated ways in which SMEs can compete effectively with larger organisations that have more resources. Each fortnight he can be seen on Sky Business Newsa Trading Day program. The other day I was asked why some small businesses fail and others succeed and it got me thinking about the defining characteristics of Australian small businesses. In my role as accountant, CFO and business advisor, I come…

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First They Legalized Weed, Now They're Forcing Producers To Supply The Poor For Free

Topics: Copyright, Financial Management, Insurance, Small Business, Termination

It was inevitable that legalization would bring 'Mcdonaldization, allowing growers to scale-up their marijuana production massively. That's because producers no longer need to hide; this can't be avoided. For example, in Oakland, they're already discussing selling licenses to produce marijuana that will cost $211,000 each per year, and require things such as $2 million of liability insurance and the payment of additionall taxes. This will add some hefty costs to any small-time producer, and clearly favors the big boys. The Berkeley City Council last week approved a measure for the November ballot that would authorize the city to license and…

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A Strong Sense of Community

Topics: Credit, Financial Management, Leverage, Loan, SCORE

Quick: How many entrepreneurs are on the 30 Under 30 list? No, it's not a trick question. The answer is 49. That's because we decided to honor thirty companies this year, many of whom have multiple founders who are age 30 or younger. That's a defining characteristic of this generation of entrepreneurs - they're highly likely to start companies with partners. For them, building a business is not a lone pursuit, but rather an extension of their social lives. In fact, if there's one thing that stands out about this year's coolest young entrepreneurs, it's that their generational fascination with…

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Westpac announces new SME initiatives

Topics: Cash Flow, Financial Management, Marketing, Sales, Small Business

Westpac have announced a series of initiatives to help to support Australia's small business community, focusing on a new and revitalised online BusinessIQ. The website is dedicated to assisting business owners to better manage their businesses, offering practical advice on cash flow, sales and marketing, human resources as well as financial management. Building upon this, the bank launched its inaugural 'Business Week' across the country in July, with branches engaging in education, advice and networking opportunities. Another interesting initiative is the 'Day in a Business' concept, where local bankers spend a day working in the business of a customer -…

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The Small Business Jobs Bill: To Us, It's Meaningless

Topics: Consultant, Financial Management, Insurance, Loan, Small Business

Rob (I'm changing his name here so he won't yell at me) owns a 60-employee roofing company near me in Oreland, Pa. I run a 10-person information technology consulting firm. Rob has tattoos snaking up both of his arms. I have a mosquito bite on my left shin. Rob spends his days outside, in all weather, climbing up buildings and trading dirty jokes with his guys. I operate inside a climate-controlled, windowless room, drinking green tea and chatting with tech support in India. Although we're different in many ways, Rob and I do share something significant: Our small companies are…

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