So you’ve been operating your small business for quite some time and have noticed a steady or increasing amount of money coming in rather than going out. Great news! Sounds like all your hard work is paying off and you’ve become profitable. This means that you’re a lot more confident that your business can sustain itself in the long run.
Now that you have a little bit more in your bank, what should you do with it? Think twice before you decide to splurge all that hard-earned cash on unnecessary luxuries. Just because you’re earning a bit more doesn’t mean that it’s going to be like that forever.
Make practical decisions by investing your money where it should be and see your business grow further.
1. Save for a Rainy Dayus.accion.org “5 Things to Do With Your Small Business Profits.”
2. Use Business Profits to Grow Your Business
3. Pay Down or Refinance Debt
4. Use Business Profits to Pay Yourself
5. All of the Above
Silicon Harbor Business Services is based in Mount Pleasant, SC. We provide solid, practical advice to small business owners and select individuals.
We work with Quickbooks Online, Quickbooks Desktop and Quickbooks Enterprise. For Quickbooks Online, we work with clients in Mount Pleasant, Charleston, Philadelphia, and across the US. For Quickbooks Desktop and Quickbooks Enterprise, we only work locally in the Charleston, SC area.