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‘Tis the season for fraud. We must be wary of the breaches, identity theft and fraud that tend to ramp up during the holiday season. Debit card fraud, especially, thrives during this time. Debit card fraud occurs when someone gains access to your account information to make unauthorized purchases. Black Friday and Cyber Monday deals have come and gone, but many people are still shopping online for that special holiday gift for a loved one. All that extra online shopping can increase the...

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Savings rates are on the rise, it’s a great time to develop a savings growth strategy. We frequently discuss savings rates with our customers.  Through most of the last decade savers were forced to settle for lower yields on deposits, stuck in a low-rate environment.  Even those fortunate to lock in higher returns during the brief market up-ticks grew weary of the feast or famine situation.  There is a simple diversification method to increase your savings returns over the...

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Businesses everywhere are feeling the impact of increasing product costs. As the costs of necessities reach new heights, it’s more important than ever for small business owners to create a budget and stick to it. Focusing on cash flow has always been important for small businesses, but it’s now essential with consumer goods at unstable costs nationwide. Here are a few things you can do to ensure your budget can cover you in the case of an emergency. Budgeting For Small Businesses During...

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In the wake of COVID-19, the federal government is taking plenty of measures to help small businesses. One of these measures is the Employee Retention Credit (ERC). This article will cover the ERC, how it can help small businesses, and how you can seek help with applying for the program. What is the Employee Retention Credit ERC? As a part of the Infrastructure Investment and Jobs Act, the ERC is a refundable credit on qualified wages. This credit is paid to employees, but many business owners...

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Running a business is a marathon. At every step, business owners make mistakes. But mistakes often don’t make a business fail; instead, it is a business’s response to mistakes that makes the difference. Successful business owners know how to identify their mistakes, focus on what they could have done differently, and can develop a plan to prevent similar errors in the future. Use an Audit to Learn from Business Mistakes Plenty of business owners might think ‘audit’ is...

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There are dozens of business trends currently affecting the market. Among these trends is the rise of microbusinesses and solopreneurs. While not entirely new terms, you’ve undoubtedly heard them more than ever this year. With their newfound popularity, it’s important to understand each one and the lessons you can glean from them. What is a Microbusiness? There are small businesses, and then there are microbusinesses. A microbusiness usually has a very small number of employees,...

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2022 is turning out to be a strange year. Even though it is poised to be the first post-pandemic year with loosened mask mandates, and the return to the office in full swing, many questions can still puzzle potential entrepreneurs. The biggest question, which always resides within the back of the mind, is whether 2022 is the perfect time to launch a small business. What About Yesterday? There is an old saying: “the best time to plant a tree was twenty years ago, the second-best time is...

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Business owners are undoubtedly aware of increased prices. You don’t have to be paying attention to your supply chain to notice them when you can easily find them at the grocery store and the pump. But small businesses must navigate price increasing to continue turning a profit, so how can they do it? Luckily, there are a few aspects of your business that you can evaluate in the face of price increases. Evaluating Labor’s Effect on Raised Prices There is an immense rise in labor...

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According to the Association of Certified Fraud Examiners, U.S. businesses lose an average of 5% of gross revenue annually to fraud. Small business fraud is one of the most common types, but why does it occur so often? How Small Business Fraud Occurs Small businesses start with fewer resources than their counterparts. This lack of resources results in increased business fraud risk. For many owners, fraud occurs for one of two reasons. The first is that business owners are often too busy to...

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Fraud prevention can be a challenging undertaking for a small business. Every business, however, needs to prioritize fraud protection to keep the company safe. Though prevention may seem complicated, organizations can implement a few proven methods. Hiring Right as Fraud Prevention The first step in business fraud prevention is hiring the right people. You may think your hiring efforts are thorough enough—but ask yourself these questions to better determine your risk level. Did...

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