Process VAS Virtual Accouting Services

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Process VAS Virtual Accouting Services

Process VAS (Virtual Accounting Services) offers worry-free virtual services for CPAs, accountants and bookers to help grow their businesses.

06/04/2024

Did you miss the ERC deadline to claim the year 2020? Don't worry, you still have time to claim the tax refund for 2021. Contact us today to see how our firm can help you and your company.

561-430-8833
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05/30/2024

9. 60% of Small Business Owners Aren’t Confident In Finance & Accounting

The skills and expertise of small business owners can vary quite significantly among business owners.

Some have a more technical skill set, and others excel in explaining the value of their company. As the business grows, business owners tend to rely on other people in the company to balance the workload, and provide advice.

One common thread among business owners is a lack of knowledge in finance and accounting. At the end of the day, understanding these topics can help you ensure the financial stability of your company, through both growth periods and slow stretches.

Particularly, business owners tend to experience a lot of confusion understanding cash flow, receivables, and paperwork.

When your business is in the process of growing, mismanaging these financials or moving forward without an understanding isn’t an option. Having a clear understanding of where your business stands is crucial, especially when you’re allocating resources to move forward.

At National, our Business Financing Advisors specialize in helping you to analyze your company’s financials, and provide helpful advice about moving forward. Navigating these difficult waters can be stressful, but having a Business Financing Advisor on your side can help you proceed strategically.

https://www.nationalbusinesscapital.com/blog/36-small-business-statistics-you-need-to-know-2020/ #9

05/28/2024

8. 19% of Small Businesses Generated Between 200-500K in Annual Sales

In the small business world, annual sales can vary quite significantly.

As with businesses of any size, this is bound to happen. It’s impossible to apply the same standards to a two-man painting company and a bustling auto repair shop. Simply put, companies of different sizes and with different expenses aren’t bound to generate the same sales numbers.

19% of small businesses generated between $200,000 to $500,000 in annual sales. This may sound like a significant amount of revenue, but when everything is said and done, it’s actually closer to the break-even range (depending on the type of company).

After figuring in payroll, rent payments, materials, insurance, and other regular expenses, there’s not a lot left for the business owner to work with.

According to the same data, 9% of small businesses have annual sales over $1 million. From here, reaching the $5 million threshold requires funding, the right staff, integrated payroll/bookkeeping solutions, marketing campaigns, and other resources.

A small business loan can help you to reach the next threshold as your business continues to grow.

05/23/2024

7. 40% of Small Businesses Are Profitable

Hitting the ground running as a small business owner is one thing, but mastering the art of managing your small business is another.

Only 40% of small businesses are profitable, or yield money after all expenses.

There’s a lot that goes into profitability— including effective resource management, new business generation, and more.

Of the remaining 60%, half break even, and the other half lose money.

Business financing can give you the resources that you need to progress and make it to the next level.

05/22/2024

#6. 1 in 6 SBA Loans Fail

When it comes to finding sustainable financing that’s the right move for the long term, many business owners think of SBA loans as the holy grail. But finding the right type of financing is rarely that simple—based on the business’s history, the ideal program can vary drastically.

Between 2006 and 2015, 1 in 6 SBA loans went into default. This means that these business owners were unable to repay loans during this period, either due to a lack of cash flow, their business shutting down altogether, or another similar reason.

On average, it took about 4 years for these SBA loans to go into default.

One important factor to consider when finding the right financing program is the goal you’re hoping to achieve.

If you’re using the funding to pay for a long-term project that won’t drive profit for your business, then a long-term program like an SBA loan is the way to go. If the loan isn’t going to help you generate higher profits, then having a longer period of time to pay it off can be imperative.

Depending on your intentions, though, paying back the loan over a shorter period of time can actually be beneficial.

This is particularly true when the loan is intended to generate higher profits. While you may not experience a profit increase overnight, paying back the loan over a shorter period of time ensures that you aren’t paying sky-high interest rates.

05/20/2024

Attention CPAs, Accountants and Bookkeepers!

Overworked and Understaffed? Tired of training staff to only lose them to your competition. No time or capacity to bring in new clients and grow? We are the Team for you! Contact us today to see how our team can help you and your team focus on new relationships, growing your business, and improving your bottom line.

05/17/2024

Business Loan Statistics You Need to Know

#4. 79% of Small Business Owners Didn’t Receive Proper Support

(https://lnkd.in/e8493YMC)

Contact Process VAS today to learn how our team can help with the Support your team has been missing.

Address

6501 Congress Avenue, Suite 260
Boca Raton, FL
33487

Telephone

+15614308833

Website

https://processvas.com/

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