Arena

Insights on the direction of Small Businesses in the U.S. from the U.S. Small Business Administration We always like the Business Birth statistic, where we are still well above pre-pandemic business formations.

Meet Evan Walker, the Director of Accounting for Arena. Evan is instrumental in ensuring each of our clients have accurate accounting and financial reports. Evan and his team serve businesses across the U.S., if your business needs accounting support consider Arena and Evan's team. #accounting

Check out ways to get paid and learn why actively managing your accounts receivable is so important to the success of a business. Thank you Marcy Schwab for the insights!

🌟 The Importance of Actively Managing Accounts Receivable 🌟 In today’s fast-paced business environment, effective accounts receivable (AR) management is more crucial than ever. A well-managed AR process not only improves cash flow but also strengthens customer relationships and enhances overall business health. Here are some key reasons why AR management should be a priority: Cash Flow Stability: Timely collections ensure you have the liquidity needed to meet operational expenses and invest in growth opportunities. Customer Relationships: Proactive communication fosters trust and encourages prompt payments, turning clients into loyal partners. Risk Mitigation: Identifying slow-paying customers allows businesses to adjust credit terms and reduce financial exposure. 🔑 Tips for Effective AR Management: Set Clear Terms: Clearly define payment terms and communicate them upfront. Transparency helps prevent misunderstandings. Automate Where Possible: Use accounting software to streamline invoicing and follow-ups, reducing the manual workload and minimizing errors. Regularly Review Accounts: Monitor aging reports and identify overdue accounts early. A proactive approach can make all the difference. Personalize Follow-Ups: Tailor your communication to each customer’s payment history and relationship. A personal touch can lead to better responses. Offer Incentives: Consider early payment discounts as a way to encourage prompt payments and improve cash flow. Train Your Team: Equip your finance team with the skills and tools needed to manage AR effectively, fostering a culture of accountability. In a world where cash flow is king, actively managing accounts receivable is not just a best practice—it's essential for success! 💼💰 #AccountsReceivable #CashFlow #BusinessGrowth #FinanceTips #CustomerRelationships

If your business is impacted by closed ports, READ THIS... and if you need an assist we are here to help!

How is the port strike going to impact your business? Are there work arounds? What should a business owner be thinking about right now? Have an Arena CFO help, we're already crafting work around plans and what if scenarios for our clients. https://lnkd.in/eKJWf76y

EDITED TO INCLUDE an Accountant as well! Seeking both an accountant and a Korean-English speaking CFO. 📣 We are seeking a Korean-English speaking CFO. Please share in your networks and/or apply today! https://lnkd.in/eNPzwhuB

In October, Arena CFOs are evaluating the most optimal way for our clients to get paid. Keeping our businesses in control of getting paid makes for better collection rates.