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.

Turning the Tide: How Brands Can Engage Consumers on Water Sustainability

By Julie Starr • January 30, 2025
Online conversations about water sustainability are surging. According to Diageo’s latest report , social media discussions on this topic have grown by 186% year over year, reflecting a significant shift in consumer interest. With over 94.3 million search and social media interactions, water pollution, climate change, and regional water crises are dominating discussions. As digital engagement experts, Taiga Company understands that brands must not only participate in these conversations but lead them in a way that is authentic, action-driven, and impactful. Here’s how brands can navigate this rising tide of interest in water sustainability while leveraging digital strategies that drive real engagement. Why Water Sustainability Matters to Your Audience Diageo’s report highlights several key takeaways for brands looking to communicate effectively about water sustainability: Consumers expect brands to take action – Messaging should showcase tangible sustainability efforts, not just corporate commitments. Emotive storytelling increases engagement – Brands that use powerful storytelling techniques see up to a 33% boost in engagement. Timing and relevance are critical – Water-related conversations spike seasonally and regionally. For instance, in India, discussions peak during the monsoon season, while in Mexico, the ongoing water crisis fuels year-round concern. Digital-first strategies are a must – Social media, PR, and digital campaigns drive consumer awareness and action. Brands that align their content, messaging, and engagement strategies with these findings will be best positioned to connect with consumers in meaningful ways. How Taiga Company Helps Brands Drive Meaningful Engagement At Taiga Company, we specialize in helping brands connect with purpose-driven audiences through strategic digital engagement. Here’s how we can help your brand capitalize on the growing interest in water sustainability : Brand Strategy & Thought Leadership - Water sustainability is more than a trending topic—it’s a movement. We help position your brand as an industry leader by crafting compelling narratives and thought leadership strategies that align with consumer concerns. Stakeholder Engagement & Digital Campaigns - Brands that actively engage in these conversations see stronger consumer trust and loyalty. We develop impact-driven digital campaigns that resonate across social media, industry networks, and key global markets. Corporate Communications & PR - Consumers demand authenticity and action. We craft transparent, results-focused PR strategies that showcase your brand’s sustainability initiatives in ways that build trust and credibility. Social Media Marketing & Community Building - With conversations around water sustainability happening online in real-time, brands need an agile social media strategy to stay relevant. Our team creates engaging, data-driven social content that drives awareness, advocacy, and action. The Time to Act Is Now Consumers are paying attention, and brands that communicate their water sustainability efforts effectively will stand out. By aligning your messaging with the right timing, storytelling, and digital strategy, you can build deeper connections with environmentally conscious audiences.  At Taiga Company, we help brands amplify their voice, engage their audience, and drive impact. Let’s make waves together.

Leveraging Social Media to Engage Stakeholders in Environmental and Corporate Sustainability

By Julie Starr • January 27, 2025
Social media has transformed from a perceived "trend" into an essential tool for businesses to connect with their audiences. It is a cost-effective and dynamic way to personalize a brand and foster meaningful relationships with both existing and potential stakeholders. However, many companies miss the mark by focusing too heavily on pushing corporate messaging rather than fostering genuine engagement. When used thoughtfully, social media becomes a bridge between the corporate world and its stakeholders, especially when addressing critical topics like environmental and corporate sustainability. Why Social Media Matters for Sustainability Engagement Social media provides businesses with an opportunity to access and leverage social intelligence—the insights gained from observing and analyzing online conversations. This intelligence is invaluable for understanding stakeholder concerns, interests, and values. By utilizing social media’s openness and users’ willingness to discuss almost anything online, companies can gather data to inform their sustainability strategies and communication efforts. Stakeholders today expect more than generic corporate messaging. They want to see how companies align their actions with broader sustainability goals. Social media is a platform where businesses can showcase transparency, share progress, and create dialogue around environmental and corporate responsibility initiatives. Crafting a Stakeholder-Centric Social Media Strategy A successful social media strategy starts with understanding what stakeholders care about. To create content that resonates, consider the following guiding questions: What are the primary incentives or goals that stakeholders prioritize? Tailor your content to highlight how your sustainability initiatives address these priorities. What preconceived ideas do stakeholders have about the issues being communicated? Address these head-on to build trust and credibility. What concerns or objections might stakeholders raise? Anticipate and respond to these concerns in a transparent and constructive manner. What communication styles resonate with your audience? Determine whether stakeholders respond better to data-driven content or inspiring narratives and adapt accordingly. How does your messaging align with corporate values? Reinforce your company’s commitment to sustainability through consistent and value-driven communication. What metaphors, images, or stories will appeal to stakeholders? Use visuals and storytelling to make complex sustainability topics relatable and engaging. Why should stakeholders find your definition of success compelling? Demonstrate how your goals align with broader environmental and societal benefits. What other issues must be addressed to build credibility? Ensure your messaging doesn’t overlook topics that matter most to your audience. What are the intended and unintended consequences of your messaging? Consider how your communications will shape future stakeholder relationships and perceptions. Turning Insights into Action By incorporating a 360-degree assessment of stakeholder engagement, businesses can use social media to: Educate audiences about their sustainability efforts. Showcase measurable progress and impact. Engage in two-way conversations to gather feedback and improve initiatives. Build a community of advocates who share and amplify sustainability messages. The Power of Collaboration and Authenticity Authenticity is the cornerstone of effective sustainability communication. Stakeholders are more likely to engage with brands that demonstrate genuine commitment and transparency. Share real stories, admit challenges, and celebrate milestones. Additionally, collaborate with influencers, non-profits, and other organizations to amplify your message and showcase a collective commitment to sustainability.  Partner with Taiga Company for Strategic Social Media Engagement Navigating the complexities of social media engagement can be challenging, but you don’t have to do it alone. At Taiga Company, we specialize in crafting tailored social media strategies that connect businesses with their stakeholders while driving environmental and corporate sustainability goals. Let us help you create meaningful, impactful conversations that inspire action and foster lasting relationships.
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