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Without a doubt, March 2020 was anything but ordinary, and many, especially small businesses, felt the financial impact. The incoming wave of fright and uncertainty surrounding the coronavirus pandemic urged society to immediately halt their services, close their doors, and remain in an indefinite lockdown. With each passing day, smaller businesses quickly began feeling the...

Overhead And How To Reduce Overhead Costs

Overhead, otherwise known as overhead costs, refers to the ongoing expenses associated with operating a business. Understanding your overhead costs and keeping them under control is essential to success as a business owner. Overhead Costs Overhead costs represent business expenses that are not directly related to making a product or performing a service. Expenses such...

M&A Transactions: Is Confidentiality a Myth?

All M&A transactions require the business owner(s) to reveal information that is highly confidential and crucial to the success of the business. This action goes against the normal course of action for the business. Revealing this type of information to the wrong party can be detrimental to business operations moving forward, particularly in tight knot...

Second Chance for PPP Loans and EIDL Grants – Stimulus Assistance for Farmers and Ranchers

The $908 billion relief package signed into law on December 27, 2020 includes a very favorable update to the Paycheck Protection Program (PPP) for farmers and ranchers. The relief package also provides the Small Business Administration (SBA) with an additional $284 billion for PPP Loans, $20 billion for Economic Injury Disaster Loan (EIDL) grants, and...

Accelerate Revenue By Reducing Customer Churn

One of the most important KPI metrics that a startup business can measure is customer churn. Churn is a measurement of the percentage of accounts that cancel or choose not to renew their subscriptions in a given period, typically calculated for businesses with recurring monthly revenue streams such as a SaaS business. A high churn rate can negatively...

What is a Change Management Plan? A change management plan is the outline that informs the use of tools and processes for managing the people side of change. The importance of change management stems from the fact that your employees (or end users) determine the success of your project. Some key aspects of an effective...

The costs associated with running a business seems to increase annually. As we are rapidly approaching 2021, without fail you will see everything getting more and more expensive. Rent, employee costs, travel expenses, all of it will likely increase. We have put together five simple ways in which you may be able to save a...

Small businesses prosper on the relationships they build with customers and product suppliers. Unfortunately, at any moment, these relationships can be strained due to the lack of proper inventory management. Managing your inventory on a regular basis will help prevent a shortage or surplus of your company’s products allowing you to thrive in areas such...

As you can see as a small business owner, technology has rapidly changed the way in which things get done. Customer’s are rarely using cash, having a mobile-friendly website is expected, and having some form of social media presence is pretty much a basic necessity now. With that being said, why haven’t we all fully...

Congratulations on having a great business idea! You are now starting a journey that will challenge you to make critical decisions for your business. You now find yourself needing to secure funding. You can accomplish this by pitching your idea to angel investors, investors, borrow from friends and family or seek commercial lending. Majority of...

In the face of uncertainty, successful business leaders must prioritize key business essentials and skillfully guide their organizations through this global crisis. MCDA CCG, Inc. has developed a checklist of 11 critical areas for financial executives to focus on now to position their organizations for a strong recovery. Cash management strategies Prioritize and conserve cash payments by...

We wanted to make you aware that your staff may be eligible for a $500 grant from the National Restaurant Association Educational Foundation’s (NRAEF) Employee Relief Fund.  The Restaurant Employee Relief Fund (“Fund”) was created to help restaurant industry employees experiencing extraordinary hardship in the wake of the coronavirus disease (COVID-19) outbreak. Through this Fund, grants will be...

As part of the CARES Act passed by Congress on March 26, the federal government is implementing many programs to help businesses. One such program is the Paycheck Protection Program (PPP), meant to incentivize business owners and decisionmakers to keep employees on their payrolls. Like many of the other loans authorized by the CARES Act,...

Everyday more businesses are forced to close their doors to keep up with the ongoing health and safety standards and revenue is plummeting.  The government is working to provide economic relief to American businesses, and some of the relief solutions are already available.  The SBA (Small Business Administration) has extended their disaster loans to small...

As a business owner, you try to hire good people. You screen them, train them, encourage them, and do whatever you can to help them succeed and become an integral part of your business. So it’s extremely frustrating when one of them posts disparaging comments online after he or she has left your company. It...