An emergency fund for your small business is a smart investment. By having some savings on hand, you can help your company weather economic downturns, a loss of patronage, and unexpected expenses. However, it can be a bit overwhelming to set savings goals, carve out money from your company budget, and plan for all the ups and downs your business could face. Here are a few tips on how to establish and manage a helpful emergency fund for your enterprise.

As an entrepreneur, an employee stock ownership plan can be an appealing way to give your employees an ownership stake in the business via stocks. This investment vehicle empowers your workers to invest tax-free money directly in your company and cash out their funds when they reach retirement age. But the benefits of an ESOP go beyond perks for your crew — investing in your own employee stock ownership plan comes with its own tax benefits. Here’s a look at how investing in your ESOP can benefit you.

Donating to a charitable cause has a wealth of benefits. In addition to strengthening your local community and making the world a better place, your company’s donation can also demonstrate your values and offer tax benefits.

Starting your own business from scratch can be daunting if you lack experience or know-how. If you’ve been thinking about striking out on your own, a great way to get your feet wet is by becoming a franchise owner. Franchise businesses are an excellent gateway for entrepreneurs on the grow, especially if you start in a proven industry.

Excessive downtime at work can have negative effects for both employers and employees if it isn’t dealt with in a transparent and productive way. According to a joint University of Texas/Harvard Business School study, idle time costs employers $100 billion a year. Downtime can dent employees’ job satisfaction as well. Here are some tips for reducing wasted time at your business — while improving productivity and employee well-being.

A net effect of the pandemic has been large increases in property value, including commercial spaces. While an increase in commercial property value can be a big win for your business, it also carries the burden of higher commercial property taxes. If you have commercial property, you’ll owe taxes one way or the other. But you can take steps to lower your obligations, helping you keep more money for your business.

When workplace injuries occur, there’s a lot for a business owner to manage. In addition to ensuring the injured employee’s wellbeing, you’re legally obligated to report workplace incidents to the government and manage any existing safety issues. Here’s a quick guide to addressing your workers’ injuries.

Your company’s business plan is a living document that can act as a guiding light. In addition to helping you strive for concrete goals, a business plan can help employees and investors alike quickly understand what your company is all about. Despite the importance of a good business plan, it’s easy to neglect this document once you’ve gotten your enterprise up and running. Here’s a look at a few reasons to invest time into updating your business plan.

Owning your own business presents new challenges every day. Some challenges may require unique reactions, including selling off part of your business to a partner or partners. If you’ve considered selling a stake in your business, weighing the potential positives and negatives will help you make an informed choice.

You’re holding the bill as you reach for the business credit card in your wallet. Do you charge the expense to your company’s line of credit or use your personal card? This can be a tricky judgment to make — especially if you’re an entrepreneur or business owner. To help you decide, here is some advice on when you should and shouldn’t use your business credit card.