ExpertsConnect EP. 5: Accounting for Small Businesses
ExpertsConnect EP. 5: Accounting for Small Businesses

ExpertsConnect EP. 5: Accounting for Small Businesses

Summary:

Did you know that 45% of business owners neither employ an accountant nor a bookkeeper? This suggests that almost half of the 302 small business owners surveyed by Clutch (a prominent B2B research, rating and review firm) are not leveraging the accounting resources that they need. 

In this episode of ExpertsConnect, we had a conversation concerning accounting for small businesses with a senior financial analyst, Mr. Gavin N. Bennett (CPA, CA, MBA).

Our discussion points included answers to the following questions.

1. What are the foundational accounting terms that people need to know when starting a business?

2. Do you need a separate bank account for business?

3. What are some of the typical expenses for small business owners or start-ups?

4. What tools are recommended for people to keep track of their business finances? Investopedia suggests that Quickbooks is one of the most widely used financial management tools, so get the latest copy here.

5. At what stage in the business lifecycle does one need a bookkeeper?

6. How can business owners increase their profits? 

If you have been empowered by the information shared in this video, then please clap using the clap emoticon below. Please feel free to ask your questions or share your comments using the comment emoticon below. Don't forget to Join for free to subscribe to our mailing list. 

 

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Published By
Kadian Davis-Owusu (PhD)
Kadian has a background in Computer Science and pursued her PhD and post-doctoral studies in the fields of Design for Social Interaction and Design for Health. She has taught a number of interaction design courses at the university level including the University of the West Indies, the University of the Commonwealth Caribbean (UCC) in Jamaica, and the Delft University of Technology in The Netherlands. Kadian also serves as the Founder and Lead UX Designer for TeachSomebody and is the host of the ExpertsConnect video podcast. In this function, Kadian serves to bridge the learning gap by delivering high-quality content tailored to meet your learning needs. Moreover, through expert collaboration, top-quality experts are equipped with a unique channel to create public awareness and establish thought leadership in their related domains.... Show more
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