Accounting Tips That Can Benefit Small Businesses

Julie Starr • September 9, 2022



One thing that no small business can afford to overlook is its accounting practices. If you make the mistake of not putting enough thought and planning into your accounting methods, you’ll probably end up paying the price for that later. Financial mismanagement is one of the major reasons many new businesses fail.

So if you want to make sure that you don’t end up in that position going forward, it’s in your best interests to start learning as much as you can about good accounting practices today. That way, you can implement those ideas and provide the solid financial foundations your small business really needs.

Ensure Your Personal and Business Finances Are Kept Separate

First of all, you need to do the sensible thing and make sure that your business and personal finances are kept completely separate from one another. It might not sound like a big deal, but it really can be. If your business were to fail, you don’t want your personal finances to take a hit as a result, but that’s exactly what will happen if you tie the business’s finances to your personal finances. It’s one of the biggest mistakes new entrepreneurs make.

Understand Tax Obligations and Budget Accordingly

It’s important to understand the tax obligations your business has and to prepare for them too. When you fail to understand your business’s tax obligations, you run the very real risk of landing the business in hot water with the authorities for no good reason. When you don’t know how much tax you owe and you don’t budget with that in mind, you might struggle to pay when the tax man comes knocking on your door. So don’t take that risk.

Keep Hold of Your Receipts

When you’re doing the accounts and making sure that your taxes are not being overpaid, it’s a lot easier when you have all of the necessary receipts at your disposal. So it’s important to make sure that you’re keeping hold of all of those receipts and storing them somewhere in a careful and managed way. That way, you can make sure that you don’t end up stressing out and messing things up later on, as often happens.

Ensure Records Are Accurate

Your records need to be completely accurate and there’s no excuse for them not being. If you’re making mistakes constantly, all of those little accounting errors will add up to something quite significant, and that’s when your business can find itself in real trouble. That’s clearly not what you want to happen. So definitely think about how you can keep things fully accurate at all times across the business and its accounting practices.

Accounts Receivable Financing is an Option

If you want to borrow money for the business in order to fund its future growth, you might want to think about using accounts receivable financing . This is when you take out money against the invoices that haven’t yet been paid by clients. That money is owed to you, so borrowing against it shouldn’t be a problem. It’s a technique that’s used by many businesses, and as long as you understand how it functions, it could be beneficial for you.

Make Use of Bookkeeping Software

If you’re not already, you should certainly think about starting to use bookkeeping software to keep things organized and structured. Good bookkeeping software helps you to structure everything clearly and concisely, and it makes your life a lot easier than it might otherwise be. Good software options are easy to come by nowadays, so you can try a few of them out and see which of them works best for you. 

Be Prepared for Major Expenses

It’s always a good idea to have some money set aside in an emergency fund because you never know when you might have to deal with major expenses. Some issues can come your way at any moment, and you might have to spend a lot of money to get things back on track. You don’t want to go into debt every time an unexpected expense comes your way, so creating some kind of buffer is definitely important for the business.

So if you think that now is a good time to make changes to the way in which your business manages its money and takes care of its accounting obligations, be sure to make the most of each of the tips and ideas shared above. Your business will benefit greatly.

How Outsourcing Services Can Help Your Business Advance Sustainability Goals

By Julie Starr • April 20, 2025
Sustainability is no longer a nice-to-have—it’s a business imperative. From shifting customer expectations to regulatory momentum and investor pressure, today’s competitive landscape demands more than short-term cost savings. Companies are being called to demonstrate leadership by embedding sustainable practices across their value chain. For many organizations, this transformation can feel overwhelming. But it doesn’t have to be. Strategic outsourcing can unlock both environmental benefits and operational efficiency—helping your company do more with less while strengthening its sustainability performance. By partnering with service providers who specialize in sustainability, you can streamline operations, reduce environmental impact, and build trust with customers, employees, and investors alike. Below are some key areas where outsourcing can support your sustainability journey. Green Energy Consulting Services Are you wondering how to lower energy consumption without impacting business performance? Green energy consultants specialize in reducing carbon footprints through practical, scalable solutions. These experts analyze your energy usage and identify opportunities like switching to renewables, upgrading to energy-saving systems, or adopting smart technologies. Outsourcing initiatives such as solar panel installation or wind-powered electricity procurement signals your organization’s long-term commitment to environmental leadership. And as with many sustainability investments, the result is not just impact—it’s also efficiency and cost savings. Framed in the right way, these actions can become powerful stories that demonstrate your company's values to customers and stakeholders. Sustainable Supply Chain Management A sustainable supply chain is essential for companies aiming to lead in today’s circular economy. Third-party logistics providers and supply chain consultants can help in auditing your supply chain to uncover inefficiencies, and recommend improvements aligned with eco-conscious goals. By outsourcing this function, you gain access to experts who help embed sustainability into procurement practices—using local materials, reducing waste, and improving freight efficiency. Many providers can also connect you with suppliers that share your environmental standards, enabling a cohesive approach to sustainable sourcing. These supply chain enhancements not only reduce emissions and waste—they also reinforce your brand’s environmental credibility across the stakeholder ecosystem. Eco-Friendly IT and Cloud Computing Running a tech-intensive business? Traditional on-site data centers are energy-intensive. Outsourcing IT infrastructure to green cloud providers can dramatically lower your environmental impact. Cloud vendors who use renewable energy for data storage and server operations offer an efficient alternative to on-premise solutions. They also reduce hardware waste and improve system performance—making them both eco-friendly and future-ready. For organizations prioritizing digital sustainability, this move can be a cornerstone of your environmental strategy—and a strong signal of innovation to your stakeholders. Sustainable Junk Removal Services Sustainable operations include responsible waste management. Outsourcing junk removal to companies that prioritize recycling and charitable donations keeps unnecessary items out of landfills and extends the life cycle of materials. These services allow businesses and individuals to declutter responsibly, supporting both environmental and community well-being. It’s a simple but visible action that can reinforce your sustainability message both internally and externally. Carbon Offsetting Services Not all emissions can be eliminated—but many can be offset. Specialized outsourcing firms help companies calculate, track, and neutralize their carbon emissions through strategic reforestation projects , renewable energy, or community resilience projects. These providers simplify the path to carbon neutrality, enabling your business to meet emissions targets without overwhelming internal resources. When shared transparently, these efforts can build credibility and show stakeholders your commitment to real climate action. Green Building and Facility Services For organizations with a physical footprint, outsourcing to green building service providers supports both environmental and business performance. Whether you're retrofitting with energy-efficient systems, reimagining interior layouts for LEED certification, or upgrading lighting and HVAC, retrofitting to eco-friendly office design supports long-term thinking. Outsourcing this expertise ensures you’re not only meeting today’s expectations—but also building for tomorrow’s workforce and market needs. Outsourced R&D for Sustainable Products Developing greener products doesn’t need to be done in-house. By outsourcing R&D to sustainability-focused experts, your company can bring innovative ideas—like biodegradable packaging or low-impact materials—to market faster. These partnerships inject creativity and specialized knowledge into your product development pipeline, helping you stay ahead of regulatory shifts and consumer demand. More importantly, they support a brand narrative rooted in innovation and responsibility. Conclusion: Aligning Profit with Purpose Sustainability isn’t just about compliance—it’s about competitiveness, resilience, and leadership. Outsourcing to sustainability-minded providers allows your business to focus on core strengths while accelerating progress toward environmental and ESG goals. From energy and IT to supply chain and product development, these partnerships offer a smart path forward—one that balances operational efficiency with lasting impact.  At its best, sustainable outsourcing isn’t a sideline strategy. It’s a meaningful part of how forward-thinking companies align profit with purpose—and demonstrate what’s possible when businesses lead with values.

Ways the Agriculture Industry is Changing Rapidly

By Julie Starr • April 18, 2025
If you are running a business that is in the field of agriculture at all, there are a whole host of changes that are happening at a rapid rate. You certainly need to make sure that you are keeping one eye on these as they are happening - no matter whether you run a business that is directly related to this area or you are simply adjacent to it. Here are just a few of the main ways that the agriculture industry is changing at the moment. Rapid advances in tech Like almost every other industry on the planet, the number of changes that are occurring in the agriculture industry are staggering. If you don’t keep a close eye on these changes, you are more than likely to be left behind the people that are. So, you will need to look closer at the future of biotechnology in agriculture amongst other things. There are also several other distinct ways that tech is changing agriculture. First of all, there is the increased mechanization and automation that is occurring. This is likely to be developed further by the AI revolution that is happening at an increasingly rapid rate. Precision farming is also an area that is developing at a rapid rate. This essentially means more closely monitoring a whole range of different areas from pest control to research management. On top of this, there is also a move towards methods of more urban farming, which often looks at the possibility of vertical farms as well as those that can take place in an indoor environment. Changes in the environment As the effects of climate change continue to matter in a whole host of different areas, it is certainly the case that this is going to make a difference to the world of agriculture. There are more and more practices that are being developed specifically to ensure that they are resistant to changes in the environment. This means that harvests can be just as big no matter what is going on in the external world. As weather patterns become more and more unpredictable, this is going to become increasingly vital. Focus on sustainability Again, this is a concern that impacts a lot of different industries, but there is no doubt that sustainability is going to have an impact on the world of agriculture. Ultimately, if things cannot be done in a sustainable way, this is going to have a huge effect on the world. This comes in a few different forms, but it certainly places focus on keeping soil health as good as possible, as well as keeping pesticide and fertilizer pollution down as low as it can be. Changes in diet There has been a big push towards vegetarianism and veganism over the past few years. There is no doubt that these changes in diet then have to be reflected in the agricultural industry as well. While there are many other changes that could be discussed, these are just a few of them.