What is An Internal Audit?

An internal audit is an independent, objective assurance and consulting activity designed to add value and improve an organization’s operations. It evaluates a company’s internal controls, corporate governance, and accounting processes to ensure compliance with laws and regulations and maintain accurate, timely financial reporting and data collection.

Internal auditors are hired by companies and work on behalf of their management teams to provide them with the tools necessary to achieve operational efficiency by identifying problems and correcting lapses before they are discovered during an external audit.

Types of Internal Audits

There are several types of internal audits, each with a specific focus and purpose. Here are the main types of internal audits that business owners should be aware of:

1. Financial Audits
   Financial audits focus on the accuracy and completeness of a company’s financial records, reports, and statements. They aim to ensure that financial transactions are recorded correctly and financial statements are prepared in accordance with generally accepted accounting principles (GAAP) or other relevant accounting standards. This type of audit helps in detecting fraud, errors, and misstatements that may affect the company’s financial health.
2. Operational Audits
   Operational audits examine the efficiency and effectiveness of a company’s operations, including the use of resources, adherence to company policies and procedures, and the achievement of organizational goals. These audits aim to identify areas of improvement in processes, systems, and controls and provide recommendations for enhancing productivity, reducing costs, and improving overall performance.
3. Compliance Audits
   Compliance audits assess whether a company is adhering to the applicable laws, regulations, policies, and industry standards. These audits are essential for minimizing legal and regulatory risks and ensuring that the company operates within the boundaries set by various regulatory authorities. Compliance audits can cover a wide range of areas, such as labor laws, environmental regulations, and tax compliance.
4. Information Systems Audits
   Information systems audits evaluate the reliability, integrity, and security of a company’s information technology (IT) systems, infrastructure, and data. These audits help to identify vulnerabilities, assess risks, and ensure that the company’s IT systems are adequately protected against potential cyber threats, data breaches, and system failures.
5. Fraud and Investigative Audits
   Fraud and investigative audits focus on detecting and preventing fraudulent activities within an organization. These audits may be triggered by suspicious activities, whistleblowers, or routine analysis of company data. Auditors in this area specialize in identifying the signs of fraud, investigating the circumstances, and recommending actions to prevent recurrence.

Your Business Matters

Internal audits are vital for businesses, as they help ensure compliance with laws and regulations, maintain accurate financial reporting, and improve operational efficiency.

As a business owner, by conducting regular internal audits, you can proactively address potential issues and create a strong foundation for your company’s continued success. We would love to assist with your business’s audits. Give a team member a call today!

Important Disclosures:

The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.

This information is not intended to be a substitute for specific individualized tax or legal advice. We suggest that you discuss your specific situation with a qualified tax or legal advisor.

This article was prepared by FMeX.

LPL Tracking #1-05370931

The post Which Internal Audit is Best for Your Business? appeared first on Choice Bank.

The Tax Benefits of Life Insurance

First and foremost, life insurance can provide significant tax benefits upon death. The death benefit the policy’s beneficiaries receive is tax-free and not subject to federal or state income taxes. Additionally, life insurance proceeds are not subject to probate, which can save both time and money and quickly pass to heirs.

However, life insurance’s tax benefits continue. Life insurance can be used to transfer assets to future generations without incurring gift or estate taxes. By setting up an irrevocable life insurance trust (ILIT) strategy, individuals can remove the value of their life insurance policies from their taxable estates. The death benefit paid to the trust’s beneficiaries may not be subject to either gift or estate taxes.

Life Insurance as Part of Business Planning

Life insurance can also help business owners lower their tax burden since premiums are deductible. Critical person insurance, also known as key man insurance, is a type of life insurance policy taken out by a business on the life of a key employee or owner. In the event of their death, the company receives the death benefit to help cover any financial losses or expenses incurred due to the loss of that individual. The death benefit is not taxable, making it an asset for the business.

Another way that business owners can use life insurance for tax planning is through buy-sell agreements. Buy-sell agreements outline what can happen to a business in the event of an owner’s death or disability. In these situations, the remaining business owners can use the life insurance proceeds to buy the deceased or disabled owner’s share of the business, providing independence for both parties. Again, the death benefit received is not taxable, saving the company from significant tax liabilities.

In conclusion, HNW individuals have many options for using life insurance as a tax planning tool. From minimizing income and estate taxes to transferring wealth to future generations and preserving their businesses, life insurance offers numerous benefits that may significantly lower their tax burden. Working with financial and tax professionals is essential when considering life insurance as part of your overall tax strategy to thoroughly understand the pros and cons outlined in this article.

Sources:

https://www.investopedia.com/articles/personal-finance/092315/7-reasons-own-life-insurance-irrevocable-trust.asp

https://www.forbes.com/advisor/life-insurance/life-insurance-for-business-owners/

https://www.investopedia.com/articles/pf/07/permanent_life_insurance_taxes.asp

Important Disclosures:

This material contains only general descriptions and is not a solicitation to sell any insurance product, nor is it intended as any financial or tax advice. For information about specific insurance needs or situations, contact your insurance agent. This article is intended to assist in educating you about insurance generally and not to provide personal service. They may not take into account your personal characteristics such as budget, assets, risk tolerance, family situation or activities which may affect the type of insurance that would be right for you. In addition, state insurance laws and insurance underwriting rules may affect available coverage and its costs. Guarantees are based on the claims paying ability of the issuing company. If you need more information or would like personal advice, you should consult an insurance professional. You may also visit your state’s insurance department for more information.

All information is believed to be from reliable sources; however, LPL Financial makes no representation as to its completeness or accuracy.

This article was prepared by Fresh Finance.

LPL Tracking #552474

The post Tackle Your Tax Burden with a Well-Designed Life Insurance Policy appeared first on Choice Bank.

What is Corporate Cash Management?

Cash management is a multifaceted strategy designed to optimize a company’s financial operations and enhance profitability by efficiently managing liquidity and investments. Business owners must manage their capital in such a way that they can work toward their short-term financial obligations, make suitable investment decisions, and maintain a positive cash flow for their company. Here are some areas included within corporate cash management:

Managing Cash Flow

Cash flow management involves planning and controlling cash receipts and payments to ensure adequate cash is available when required. Better collection policies, efficient inventory management, and prudent purchasing procedures improve cash flow. The ability to manage the cash flow ensures predictability and security in operations, thereby reducing financial uncertainty.

Monitoring Cash Balances

Business owners must maintain a suitable cash balance and determine the appropriate level of cash required by analyzing their operating and financial cycles. Too much cash on hand may indicate lost investment or expansion opportunities, whereas having insufficient cash can disrupt company operations. Monitoring cash balances aids in maintaining an appropriate cash balance by providing timely and accurate financial forecasting.

Investment Opportunities

Business owners can benefit from short-term investment opportunities through corporate cash management. Effective cash management prioritizes liquidity and recognizes the potential for returns from short-term investments. When surplus funds are available, they can be invested in low-risk, short-term investments, providing additional income for the company and thus boosting its overall profitability.

Banking Relationships

Corporate cash management also assists in managing banking relationships, which involves effectively communicating with financial institutions to understand their service offerings and negotiating better terms. The interaction with banks and lenders is critical for business owners as it directly influences the cost of financial transactions and the availability of financial services.

Risk Management

Moreover, corporate cash management incorporates risk management policies by identifying potential financial risks and creating measures to safeguard the company’s financial health from unforeseen disruptions. These risk management strategies may entail diversification of investments, restricting financial exposures, or purchasing insurance on sensitive company assets.

Professional Guidance

Implementing suitable corporate cash management strategies and policies for a company must involve the appropriate people. These include the business owner, management, and specific company departments such as accounting, purchasing, and others.

It’s vital that business owners also include outside professionals, such as financial and tax professionals experienced in corporate cash management and working with business owners. Cross-collaboration with teams central to cash management must be adequate so that the execution of the company’s cash management strategy occurs promptly.

Technology

Corporate cash management may include using sophisticated technology to improve the company’s financial operations’ accuracy, speed, and ease, thus saving human capital hours. These technologies can range from automated payment arrangements to real-time tracking of financial transactions. By leveraging these technologies, business owners can benefit from managed operational costs, improved financial transparency, and enhanced decision-making capabilities. Here are examples of technologies that may enhance a company’s corporate cash management:

• Banking APIs
• Same Day payment technology
• Direct bank (FTP) connections
• ACH, SWIFT connectivity
• Two-way connectivity between bank and accounting solutions
• Inventory management technology
• Investment portfolio access and monitoring

Measurement and Forecasting

When incorporating cash management best practices into a company’s overall growth strategy, appropriate measurement and forecasting must occur. This strategy includes estimating the amount of cash flowing into and out of a company and comparing the estimate to the actual cash flow over a period such as a month or quarter.

Once the measurement has occurred, the appropriate individuals receive the information and the forecasting updates. Measurement and forecasting are ongoing processes that may be affected by geopolitical factors, supply chain issues, economic factors, a skilled and ready workforce, along with any number of other factors, impacting the company’s profitability.

In conclusion, corporate cash management is vital in ensuring a company’s financial effectiveness and sustainability. By appropriately controlling cash flow, maintaining suitable cash balances, taking advantage of short-term investment opportunities, managing banking relationships, incorporating risk management, working with professionals, leveraging technology, and forecasting, the business owner can seek to optimize their financial operations and improve the stability and profitability of their company.

Curious about cash management at Choice?

Book Time with a Cash Management Officer

Sources:

https://www.kyriba.com/blog/cash-management-best-practices/

https://www.treasurefi.com/blog/integrating-commercial-cash-management-into-your-business-strategy

https://www.investopedia.com/articles/investing/041515/why-cash-management-key-business-success.asp

Important Disclosures:

The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.

To determine which investment(s) may be appropriate for you, consult your financial professional prior to investing.

All information is believed to be from reliable sources; however, LPL Financial makes no representation as to its completeness or accuracy.

This article was prepared by Fresh Finance.

LPL Tracking #536271

The post How Corporate Cash Management Helps Business Owners appeared first on Choice Bank.

1. Know Your Numbers

One of the most important tips for small business owners is to know your numbers. As a small business owner, you should know the numbers on your financial statements and balance sheets and understand your cash flow. You also should always have budgets and projections, so you have a basis for comparison and should spot when things start going askew before it is too late to get back on track.

2. Optimize Your Goods and Services

When costs and interest rates are high, supply chain issues may occur. Managing your goods and services to make a solid profit is vital. Take the time to calculate the revenue and costs of each product and service you offer to determine their gross margin and net profit. Find any poor performers and consider eliminating them so you don’t waste valuable time, material, and resources on products and services that yield little profit.

3. Know How Inflation Might Impact Other Areas Outside Your Business

Your business is likely to be your top priority, but it is equally important to understand that inflation also affects other areas outside your business. Inflation may affect your ability to borrow, lead to a business slowdown, and drastically affect your pricing models for your products and services. Understanding all the peripheral areas affected by inflation may make your business more resilient and better able to withstand the ups and downs.

4. Know the Difference Between Strategic and Non-Strategic Spending and Cost-Cutting

In times of disruption, it is easy for business owners to panic and begin cutting costs or spending without developing a plan to either lower company costs or outdo the competition. In either case, spending or cutting costs without following a strategy may lead to severe problems, especially during times of inflation. Always do your due diligence before implementing new spending or cost-cutting measures to ensure they align with the company’s goals and needs.

5. Automate if Possible

The more work you automate, the more efficiently you can run your business. Perform a time study of each operation in your business. If any operations take longer than they should, or if there would be a more time-saving way to automate them, see if the cost would be worth the time it would save. You may even want to look at your daily tasks to see if there are ways to automate some of your processes to free up time to develop more business for your company.

Navigating changes with inflation with your small business can be tough. Talking with one of our financial professionals can help you decide what is best for you. Meet with one of our financial professionals today!

Important Disclosures:

The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.

All information is believed to be from reliable sources; however, LPL Financial makes no representation as to its completeness or accuracy.

This article was prepared by WriterAccess.

LPL Tracking #553066

Sources:

How Small Business Owners Can Navigate Inflation and High Interest Rates

6 Strategies to Help Your Company Weather Inflation

The post Tips for Navigating Inflation as a Small Business Owner appeared first on Choice Bank.

3 Ways Small Businesses Can Donate to Charities

While cash donations are one of the most common ways to give to charities, small businesses may also provide support in other ways.

1. Volunteering – Instead of donating money, your business will be able to make an impact by donating their time to a local charity, such as a soup kitchen or homeless shelter.
2. Host a Charity Drive – If you see a need in their local community, consider helping by starting a drive to collect needed items, such as a holiday toy drive or canned food drive.
3. Take Advantage of Local Sponsorship Opportunities – Local youth organizations and groups are often looking for sponsorship. Consider sponsoring a sports team or local community event. You will also get a little advertising and community goodwill out of your involvement.

Find a Cause That is Meaningful to Your Company or Employees

All types of charities are looking for support, which means it is easy to find one that resonates with your business culture and employees. This way, you will be more personally connected to your contribution, which will mean something to you and your employees.

Research Charities You Are Interested In

Take some time to learn about the different charities you may wish to contribute to. Through some research, you will be able to find out how much of the contributions go into their programming, what kind of services they provide to the community, and the impact your donation may have. This will give you a clearer picture of how you are helping through your contribution.

Build a Relationship With Your Chosen Charities

Even if you only contribute to your charity once a year, you want to stay connected and find out other ways you are able to assist throughout the year. This is a great way to stay connected with your community, network, and build relationships with other businesses.

Get Your Employees Involved

Have your employees volunteer with the charity or offer contribution matching for employees who donate independently. This will help your employees connect with the charity and provide the charity with much-needed assistance throughout the year.

It is important to remember that every dollar counts for charities, so even if your business only contributes a small amount, it will still be making a huge impact on the community.

Important Disclosures:

The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.

This information is not intended to be a substitute for specific individualized tax advice. We suggest that you discuss your specific tax issues with a qualified tax advisor.

All information is believed to be from reliable sources; however, LPL Financial makes no representation as to its completeness or accuracy.

This article was prepared by WriterAccess.

LPL Tracking #1-05377994

The post Charitable Giving: How Small Business Owners Can Make a Big Impact appeared first on Choice Bank.

1. Ensuring the Business Will Continue

One of the biggest reasons small business owners purchase life insurance is for the continued survival of their business after their death. When a small business owner passes, finding people to replace their responsibilities and manage all of the costs of succession may be an unnecessary struggle.

A life insurance policy will help your business to find a suitable replacement for your duties, help pay off business debts to improve company cash flow and provide the company with the funds to handle unexpected expenses that may come up. If you have a life insurance policy with a cash value, you will also have the ability to tap into those funds if the business is struggling. This is an added benefit many life insurance policies may bring.

2. Satisfying a Partnership Agreement

You probably have a partnership agreement if you own a small business with others. These agreements plan for the event of death or disability of one of the partners. In most agreements, the remaining partners will be able to buy out the shares of the partner who passed or became permanently disabled.

Even when business is good, it may be difficult for the other partners to buy the shares from the survivor’s family, depending on their equity. The life insurance policy will often be used to buy these shares from the deceased partner’s heirs.

3. It May Be Required for a Loan

Suppose you fund your business with a small business loan or have taken one out to gain additional capital. In that case, the bank may require a Buy/Sell agreement and life insurance policy for the business owners that are guaranteeing the loan.

While this is not always a requirement and will depend on the loan amount, the bank, and their underwriting requirements, it may be expected if the lender suspects the business may struggle if the owner were suddenly gone. Essentially, the bank will want to ensure that their debt will be covered in the event of your death, which means the policy will typically need to be a larger amount than the loan debt if required.

Important Disclosures

The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual or business owner. To determine which insurance product(s) may be appropriate for you, consult your financial professional prior to purchasing.

This information is not intended to be a substitute for individualized legal advice. Please consult your legal advisor regarding your specific situation.

All information is believed to be from reliable sources; however LPL Financial makes no representation as to its completeness or accuracy.

This article was prepared by WriterAccess.

LPL Tracking #1-05361929

The post 3 Ways Life Insurance Can Help Small Business Owners appeared first on Choice Bank.

Separate Your Business and Personal Goals

As a small business owner, you eat, sleep, and breathe your business, and in most cases, your personal finances are strongly dependent on the success of your business. However, you need to establish separate business and personal financial goals.

Take time to think about what you want your business to achieve and outline your revenue and profit goals, but also look at your personal goals. Think about how you want to live, the investments you want to make, when you want to retire, and other personal financial goals. Then, make sure your small business strategy supports those personal goals.

Be Careful About Financing Your Business Personally

A lot of entrepreneurs finance their own businesses, and of course, using savings or personal loans and credit cards is often essential as you try to get your business off the ground. But ultimately, you want to avoid carrying personal liability for business debts.

Try to explore less risky funding options such as bringing on investors who put money into the business in exchange for a share of the profits. Additionally, consider incorporating or establishing your business as a Limited Liability Company (LLC). Then, you can take out loans in the business’s name without incurring personal liability.

Tax Plan Strategically

As a small business owner, you have to think about your personal and business tax liability. Work with an accountant or a financial planner and be proactive about lowering your taxes. Depending on the situation, you may want to elect to have your sole proprietorship taxed as an S-corp. You may want to make purchases strategically so that you can claim Section 179 deductions. Those are just two basic ideas — the right tax strategies vary dramatically depending on your situation.

Don’t Forget to Diversify Investments

Small business owners often just want to pour all their extra funds into the business, and ultimately, you should try to reinvest as many of your profits as possible. But at the same time, you cannot forget to diversify your personal investments.

No matter how hard you work, all small businesses come with significant financial risks. To help safeguard your family and personal finances, you should make other investments. A financial professional can help you narrow in on the most appropriate investment strategies for your situation.

Plan for Risks

In both your personal and business life, you need to plan for risks. Personally, that often means investing in life and disability insurance, but with your business, you have to consider other risks.

What if someone brings a lawsuit against your business? What happens if your business property sustains damage? What if a natural disaster forces you to close your door? Think about those types of issues and make sure you have insurance policies and risk plans in place to preserve your business.

Important Disclosures

The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. To determine which insurance product(s) or investment(s) may be appropriate for you, consult your financial professional prior to purchasing or investing.

No investment strategy or risk management technique can guarantee return or eliminate risk in all market environments.

The information provided is not intended to be a substitute for specific individualized tax planning or legal advice. We suggest that you consult with a qualified tax or legal advisor.

All information is believed to be from reliable sources; however LPL Financial makes no representation as to its completeness or accuracy.

Content Provider: WriterAccess

LPL Tracking #1-05250850

Source

https://www.entrepreneur.com/article/290796

https://www.forbes.com/sites/davidrae/2018/03/19/tax-saving-small-business-owner/

https://www.investopedia.com/articles/financial-theory/09/risk-management-business.asp

The post Financial Planning Tips for Small Business Owners appeared first on Choice Bank.

Financial Risks Inherent to Entrepreneurship

Even the smallest new business may require something in the way of initial startup costs. This may include loans, savings, funds from family or friends, or an influx of cash from a prospective business partner. The ultimate risk of any startup venture is the loss of this initial capital, and the risk this actually poses depends on the source of this cash. For example, losing funds you’ve borrowed from family could strain relationships but is unlikely to appear on your credit report. Losing funds you’ve borrowed from a financial institution may risk denting your credit score but shouldn’t harm your relationships.

Another financial risk that comes from launching your own business includes loss of earning potential. In other words, not only are you risking the funds you’re putting toward your new business, but you’re also committing to the loss of funds you could earn through a more traditional job during this period. If you’ve left a high-earning job to focus on your new business, this period of lost income represents a real financial cost.

Mitigating These Financial Risks

There are a few steps that entrepreneurs can take to mitigate the risks that are inherent in launching a new business.

Have a Financial Plan

Your financial plan should include income projections, cash requirements, and the expected return that investors may realize after 1 year, 5 years, and 10 years. Though it may be tempting to pour every additional bit of cash into your new venture, it’s important to make sure you’re fairly compensated for your efforts. A 10-year business plan that doesn’t allow you to take any profits may not be sustainable.

Keep an Eye On the Future

With rapid changes in technology, even the most current business plan may look stale five years from now. It’s important to focus on the future as well as the here and now and make sure your business is prepared to adapt and pivot to whatever market forces may come its way.

Watch Out for Competitors

A business with no competition could be the next Amazon—but it could also be the next Blockbuster. A complete lack of competition could indicate that the demand just isn’t there. The sweet spot for many startup businesses involves a sector in which there is some competition but no direct duplicate of the product or service you provide. If you have a twist on a traditional business idea or operate in traditionally under-served or under-represented sectors, you may have hit on a winning long-term idea.

Important Disclosures

The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.

No investment strategy or risk management technique can guarantee return or eliminate risk in all market environments.

LPL Tracking # 1-05186914

The post Entrepreneurship and Financial Risk: What You Need to Know appeared first on Choice Bank.

A business plan defines your business, outlines your goals, and lays a strong foundation for achieving them. A valuable resource for investors and lenders, a strong business plan can help you secure capital for expanding operations. As your business grows, your plan will help you respond to changes in the marketplace and your industry. Let’s take a closer look at three essential business plan elements: the executive summary, the business description, and the financial data.

1. Executive Summary

First impressions are everything, and this quick snapshot of your business has the potential to attract or discourage investors. This is your opportunity to effectively summarize your company’s history and articulate your mission:

• Briefly explain the employee and management structure.
• Describe your location and facilities.
• Provide relevant financial information.
• Disclose strategic corporate relationships.
• Highlight key accomplishments.

By the end of your executive summary, you want your readers to know about your products and/or services, understand the demand for your business, and believe in your potential for success.

2. Business Description

After a compelling introduction, it’s time to provide details. Here, it is important to accomplish the following:

• Describe your business.
• Identify your business’s niche in the marketplace.
• Demonstrate your industry knowledge.

As you know, there must be a market for your products/services, and your business plan can outline how you are going to attract and maintain that market. Ask yourself some basic questions:

• What are you selling?
• Who are your clients?
• Who is your competition?
• What makes your firm unique?

In answering these questions, demonstrate the ways in which various components of your business work in concert to accomplish your objectives. For example, how does your location support your business? What experience do you and your management team bring to your operation? What are the specialized skills of your workforce? Remember, your intent is to construct a winning approach and make your readers confident about your business.

3. Financial Data

Here, startups need to project future performance, while established businesses need to detail the historic performance of their companies, as well as project future earnings. Include three key financial documents:

• Income statement
• Cash flow statement
• Balance sheet

Lenders, in particular, may focus on your cash flow statement, which details how money is earned and spent in your business because poor cash-flow management can sink even profitable businesses. From the perspective of the lenders, accurately projecting cash flow is essential to meeting your financial obligations. Lending aside, effective cash-flow management can benefit your business by helping you maintain liquidity, minimize your credit obligations, and minimize your interest expenses.

The Sky’s the Limit

Think of your business plan as a building with many floors, each fulfilling a function. The function of the foundation is to present the information that can make your plan a tool for raising capital. If you shortchange this part of your plan, it’s possible that your business will barely get you off the ground.

Additional functions of a well-engineered business plan include helping you manage daily operations, make decisions in line with your ultimate objectives, and stay on track with your plans for growth.

To keep pace with change, review your plan every year and revise it, as needed. If your business plan helps your business adapt to market fluctuations, industry developments, and business advances, the sky’s the limit.

BPBIZPW0-X

Important Disclosures

This article was prepared by Liberty Publishing, Inc.

LPL Tracking #1-05189737

The post Developing a Dynamic Business Plan appeared first on Choice Bank.

Provide Your Support on Social Media

Social media has become one of the fastest-growing forms of business advertising for every sized company. While it may seem easy to spread brand awareness through advertising, many small businesses don’t have the advertising funds to compete with larger companies. They may not get the same exposure on social media. Help give your favorite small businesses a boost on social media by liking their page, sharing their posts, and leaving positive reviews on your various social media channels.

Consider Gift Cards

If you patronize small businesses that offer services, try giving them an added boost aside from your regular service. This Small Business Saturday, purchase some gift cards for your friends, families, and co-workers who may be interested in using their services. Many small businesses benefit from repeat customers but still need new customers. Help them with word-of-mouth advertising. By giving gift cards to those who may not have patronized their establishment before, you may be helping them to establish a long-term, regular customer.

Do Your Christmas Shopping

While you may be able to score great holiday deals on Black Friday, shopping at your local small business may provide you with more unique options for your presents. You may also help keep the money within your community. Don’t just focus on the holidays. Use this day to purchase those unique gifts for birthdays and other celebrations throughout the year.

Show your support for your local community this Small Business Saturday by stopping into the local shops and service places in the area to spend some of your holiday cash.

Sources

9 Ways to Support Small Businesses, New York Times, https://www.nytimes.com/2020/11/23/business/smallbusiness/how-to-support-small-businesses.html?.?mc=aud_dev&ad-keywords=auddevgate&gclid=CjwKCAjw3_KIBhA2EiwAaAAlimAsoJHKgXVVFjrU0QAYw0X0R9sWcb6dAChrW5oiM7LOto6RjXLQ8hoCggMQAvD_BwE&gclsrc=aw.ds

How to Make the Most of Small Business Saturday, Business News Daily, https://www.businessnewsdaily.com/7354-small-business-saturday-tips.html

LPL Tracking # 1-05184374

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