Thu Jul 8, 2021 | Alan Lefkowitz | Accounting, Business, CFO Services
A Chief Financial Officer (CFO) plays a pivotal role at companies of all sizes. From blue-chip organizations to start-ups, CFOs regulate cash flow, financial planning, and performance. This chief role combines strategy with daily management. A CFO usually works as the top controller, creating financial systems that can impact an organization’s future.
Read MoreWed Apr 21, 2021 | Alan Lefkowitz | Banking Relationships, Cannabis, CFO Services
If you are looking to open or expand a cannabis-related business, you may need outside funding to achieve your goals. Some experts estimate that on average dispensary owners need anywhere from $150,000 to $2 million to start their businesses due to hefty licensing fees and rigid capital requirements.
Read MoreWed Apr 21, 2021 | Alan Lefkowitz | Banking Relationships, Cannabis, CFO Services
If you own a cannabis or hemp-related business or are looking to start one soon, you should learn about the ins and outs of cannabis banking. Because marijuana use and distribution are illegal at the federal level, cannabis businesses often have trouble partnering with banks and other financial institutions. Currently, only a little over 700 out of the 12,000+ banks in the U.S. serve marijuana businesses, and the ones that do tend to have strict approval processes and hefty fees. Read on to learn everything you need to know about banking in the cannabis industry.
Read MoreMon Mar 15, 2021 | Alan Lefkowitz | Business, CFO Services, PPP
The COVID-19 pandemic forced many organizations to close quickly and lose revenue for an extended period of time, putting their ability to stay in business at risk. Many businesses did not have enough cash reserves to sustain the shutdown and unfortunately went out of business. Currently, we are helping businesses during these challenging times with two government lending programs, the Paycheck Protection Program (PPP) and Economic Injury Disaster Loan (EIDL) as COVID relief options.
Read MoreMon Feb 8, 2021 | Alan Lefkowitz | Business, CFO Services, Field Examinations
Lending institutions in the United States know there are inherent risks involved with providing loans to businesses. Borrowers also have to demonstrate that they are reliable enough for the institution to lend them money. They must demonstrate that they can supply collateral to a lender. Collateral is any asset or property that a consumer promises to a lender as backup in exchange for a loan. This can sometimes be hard to demonstrate due to challenges, such as changing accounts receivable balances and inventory valuation, or valuation of the company’s products or services.
Read MoreSat Dec 26, 2020 | Alan Lefkowitz | Business, CFO Services
Are you getting a new startup off the ground? Are you a CEO looking to grow your company? Do you have financial projects in the works that require more than your small, hard-working team can handle? If so, you may want to consider hiring an outsourced CFO for consulting services.
Read MoreSat Nov 28, 2020 | Alan Lefkowitz | Business, Cash Management, CFO Services, Virtual Accounting Services
These days, business owners, managers, and investors are seeking any way possible to reduce overhead and make every dollar count. And as businesses look for ways to curb unnecessary spending, many are now turning to virtual CFO services as a money-saving alternative to in-house financial leadership.
Read MoreSat Oct 10, 2020 | Alan Lefkowitz | Business, CFO Services, Financial Reporting
If you have a small business, you might think you don’t need to hire a CFO. After all, a chief financial officer is a high-paying position only needed in big corporations making over 100 million dollars, right?
Read MoreTue Sep 22, 2020 | Alan Lefkowitz | Business, Cash Management, CFO Services, Financial Controller Services, Financial Reporting
No matter how brilliant an entrepreneur or business owner might be when running their business, without a good plan to maintain their company’s financial well-being, it will be difficult for their business to thrive. Regardless of industry or sector, we hear many of the same pain points that keep owners awake at night. The most successful businesses, just like people, form habits that lead to their ultimate success. Here are the top 5 action steps successful companies implement for financial success and prevent financial pitfalls.
Read MoreWed Sep 16, 2020 | Alan Lefkowitz | Bookkeeping Services, CFO Services, Virtual Accounting Services
Most companies invest significantly in bookkeeping and accounting within their operation. Keeping correct records is critical to making wise business decisions and knowing where your company is at any given point. Yet, hiring and maintaining an accountant within your business is costly and may not always be the best choice. Virtual accounting or virtual CFO services can be a great option for many organizations.
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