The risk of business fraud today is higher than ever. The main contributing factors are the growing complexity of organizations, emerging technologies, and evolving accounting practices that, combined, make it challenging for businesses to monitor the increasingly sophisticated fraud tactics of criminals.
Payment fraud can come in many guises. Businesses need to be wary, not just of fraud risks around how they take payment, but also in how they themselves pay their suppliers. How concerned should you be?
Keeping an eye on the financial health of your business is good preventive medicine. Here are some quick and easy diagnostics to gauge the well-being of your business.
Managers of large corporations regularly monitor the performance of other companies to determine how they compare and where they can improve. Your business may be smaller, but it can still benefit if you follow the lead of bigger companies.
Keeping track of the various taxes associated with running a business can be a lot of work. And if you miss any due dates, it's expensive. Fortunately, there's an easier, simpler way to stay on track and on time.
Attracting bright, creative, committed talent and retaining it are important parts of managing a successful business. One way to get and keep the best employees is to meet their needs outside as well as inside the workplace.
After doing her annual business review with her CIBC business advisor, a business owner realized that her business' profitability had been declining. Cash flow had always been a problem for her manufacturing company, and she suspected that her costs were higher than they should be.
A good business plan helps set you on the road to financial success. By mapping out your goals and strategies, you'll get a clearer picture of what your business really needs. In addition, an effective business plan is essential if you want to attract investors.
Plant, machinery and vehicles are all important, but when it comes to key assets, nothing beats having great staff who play a critical role in your business' ability to operate at its maximum potential.