Talks of a recession are growing as the economy continues to feel the negative effects of the Corona Virus and the war in Ukraine. Both have led to lingering supply chain issues, inflation reaching record highs, capital markets tightening up, and talent shortages across nearly every industry. For small business owners, a looming recession can […]
Financial tools are the drivers behind successful businesses. They bring simplicity to tasks that can otherwise be complicated and time-consuming. Thankfully, financial tools can be used in nearly every corner of your financial system. At New Economy, we suggest using four primary tools to help entrepreneurs, like you, gain control of their finances to make […]
Every business, especially new startups or quickly growing businesses, should be keeping a close eye on their cash burn and runway. These metrics provide essential insight into the sustainability of your spending habits and the financial health of your business. If cash burn and runway are struggling, your business will also struggle. Below is an […]
New Economy was designed to help entrepreneurs gain control of their finances and make smart decisions to build and grow their business As an outsourced accounting, finance and tax partner, we do this by making you the hero (think Luke Skywalker), identifying your problems and challenges (think saving the galaxy), and we come in and […]
As you know, a CFO can add value to your company. They have the strategic mind to financially engineer plans to raise capital, provide leadership, create and implement systems and processes that will support your business growth. However, before making the decision to hire a CFO, you’ll likely have plenty of questions: What exactly do […]
As tax season gets underway and entrepreneurs begin their prep, plenty of questions come to the surface. When do I need to file? How can I save the most money? Will hiring an accountant be worth the investment? In this article, we will answer these questions and more so you can be confident you are […]
As a business owner, it’s likely you believe your business is worthy of investment. You work hard to make it successful day in and day out. As you consider your options to grow your business, the thought of adding third-party investors may have crossed your mind. However, not every business is a good candidate to […]
As a CEO or entrepreneur, you need to know the ins and outs of your finances. The best way to do that is to track the right financial metrics. When you track the right metrics you have all of the information you need to drive success, growth, and reach your business goals. Here are the […]
Capital is used to fund the day-to-day operations as well as the long-term growth of your company. You must obtain it and use it wisely to create a strong, healthy business. In most companies, the capital structure is a combination of various sources of capital. It’s important you understand each source and how it will […]
If we had to make an educated guess, we’d say you likely have a lot of tasks on your plate, and your accounting probably sits low on your “love list”. How did we do? Accounting is time-consuming, tedious, and can be complicated. It’s not on many people’s list of favorite things. It’s certainly not where […]
A strong cash flow is a deciding factor between a successful business and an unsuccessful one. It indicates the health of your business. This is why it’s so important to manage cash flow properly and take the necessary steps to build it up. Entrepreneurs who want to develop a cash flow system for best practices […]
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