Creating and managing an independent retail business today is probably harder than it ever has been before. Retail rents are sky-high, chain store consolidation is wiping out entire market categories, and shoppers are continuing their rapid shift to online and e-commerce purchasing for more and more products.
Small business owners need to use every opportunity they can to create new sales and growth, as well as to gain value out of their strategic relationships. The key is to build a network of key influencers among your contacts with a focus on complementary partnerships.
Small business owners often lack the resources to develop and manage a fully staffed accounting team. Nonetheless, small businesses — like all businesses — are still responsible for executing all of the core bookkeeping, accounting and financial functions essential to the enterprise.