A number of countries around the world are now easing their lock downs and small businesses are opening up their shops. While it is unclear how and when the Coronavirus will slow down in the United States, it is important for everyone to prepare for a world after the COVID-19 pandemic. Here are some things to include in your post-pandemic business plan.
Cyber attacks are now increasing as companies and their operations continue to operate from remote locations. Hackers are taking advantage of the vulnerability of their connections and devices since the cyber security of accounting firms are generally concentrated in their offices. In addition, a number of businesses are now considering telecommuting as a long-term working arrangement with their employees.
Cloud accounting software has sped up most of process that small business perform. These modern tools enable business owners and accounting professionals alike to perform necessary tasks in real-time using the internet. The real challenge that small business owners face is choosing the best software to address their needs.
Small businesses are among the hardest hit by the coronavirus pandemic. In the US alone, the National Small Business Association reports that almost half of small businesses experienced reduced customer demand while 38% are no longer confident about their future. A lot of these businesses are now fighting for their survival and governments around the world are supporting them to help them stay afloat. Here are the different relief packages offered to SMEs (small, and medium enterprises) in the midst of the coronavirus pandemic.
Is this the first time that you have encountered the term “Decision Fatigue”? Don’t worry, you are not alone. A lot of people does not even know that this term exists. Decision fatigue is the impaired ability to make decisions after a long session of decision making. Seems like a minor hurdle right? Not so. It seems like taking a rest in between making important decisions is the obvious brain fatigue treatment, but that’s not the case.
Payroll processing can be rough. Financing often gets hard, as the number of the employees that you have increases. Add benefits into the mix and it’s all too-easy to make mistakes. This leads to delays in salary distribution, more work for your finance department, and souring employee morale.