#SmallBiz Insurance Roundup: May 27, 2022

10 Hiring Tips for Startups and Seasonal Businesses

Maybe your business is growing and it’s time to expand your employee headcount. Or maybe you’re in or nearing the peak season for your company. Whatever the situation, finding and hiring talented folks to join your team can be a challenge. After all, you’re fishing in the same talent pool that large corporations are. What to do?

You need to get creative to recruit the people you need .

What Is a Good Profit Margin for Your Small Business?

A profit margin is an amount that shows how profitable your business is by dividing income by revenue (also called sales). Understanding what’s a good profit margin is critical for managing your company’s finances.

There are three different types of profit margin calculations. The net profit margin is the most comprehensive and considers all expenses. The gross profit margin only includes the cost of goods sold, while the operating profit margin falls between the other two.

Get an overview of each one .

7 Tax Filing Tips for Sole Proprietors

Being a sole proprietor of a small business often means all your business-related tasks, including bookkeeping, fall solely onto your shoulders.?That includes filing (and paying) your taxes on time and making sure you have the right tools, knowledge, and insurance to protect yourself.

Here are seven basic tax tips to help.

How Small Businesses Can Solve Cash Flow Problems

Many small businesses and self-employed professionals grapple with managing cash flow. Though your business may be profitable, that doesn’t mean you have cash on hand to pay bills.

However, applying methods of solving cash flow problems allows you to meet your financial obligations, including the unexpected and sometimes large expenditures that you must cover. Understanding the difference between profit and cash flow enables you to budget accordingly.

Here’s how you can do that .

8 Ways to Know If You Should Update Your Business Insurance Policy

As your business evolves and grows, your insurance policy needs to reflect what’s new and where you’re headed to ensure you’re fully covered. Is it time to update your policy?

Here’s how you can tell.