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The baby boomer generation has officially been surpassed as the largest generational demographic. The “millennial” generation has become the single largest group within the workforce and is quickly becoming the largest consumer group as well. Millennials make up more than one-quarter of the U.S.

The main difference between those who own a thriving business and the ones who never bring their plans to fruition is fear. For your business venture to be successful, you need to address your fears proactively.

As summer comes to a close, the fourth quarter of 2017 is fast-approaching. Now is the time to start thinking about and preparing goals for your small business in the upcoming year. Thorough planning will provide your business with a road map for informed decision making.

After surviving the startup phase and successfully building a small business, your energy and focus will likely shift to expanding your business. Knowing what the next step in growing your business and expanding beyond its current status is paramount.

A successful business is always led by a strong leader in pursuit of his or her passion. These entrepreneurs typically share common characteristics and attributes that drive their business’ growth.

It goes without saying that a business owner works long hours to ensure the success of their business. This includes closely managing the business’s financial statements and maintaining sufficient working capital for growth.

Whether your business is a startup or an established company, there are many risks that can have serious consequences on your finances. If managing your business’ finances is something you struggle with, don’t worry. You’re not alone.

Working capital is defined as the amount by which your business’ current assets exceed its current liabilities. That is, your cash on hand. Surprisingly, there are many myths surrounding working capital that simply are not true.

With so many urgent issues competing for your attention, it’s not surprising that few entrepreneurs find or make the time to read their financial statements, specifically, their income statement, balance sheet and statement of cash flows.