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Small businesses today must be extremely mindful about their cash position. If the last several months have taught us anything, it is has reminded us that the state of the economy can change quickly. While no one could have predicted the coronavirus pandemic, small businesses who have a strong handle….
Surviving the coronavirus is the theme of 2020 so far. From big corporations to small business, it seems like nearly every industry is getting hit, and hit hard. The thought of profiting during COVID-19 is unthinkable to many, but there are inevitably organizations that benefit from a pandemic. Who are….
From layoffs to furloughs and from temporary closings to permanent shutdowns, COVID-19 has impacted virtually every single industry under the sun. It’s no secret that economic growth worldwide has plunged significantly. In the United States, business owners have had to pull rabbits out of their hats left and right in….
COVID-19 has made a major dent in the global economy and the long-term business fallout is inevitable. For many small businesses, the coronavirus means they must close their doors entirely, even if temporarily. For others, it means scaling back significantly and making unfortunate cuts to salaries, workforce, and more. Owners….
The coronavirus outbreak has made a major impact on the stock market. Experts have pointed to fears that the market will remain struggling for some time, even after the virus is properly contained. So, how does this impact valuations and IPOs today, tomorrow, and even months from now? First and….
From balance sheets to income statements and from cash flows to retained earnings, financial statements are essential to any entity. Evaluating financial activities means using these financial statements to unveil where a company is, how it compares to past successes, and possibly where it has the capacity to go in….
Budgeting is something that most adults take into account when making financial decisions. From a personal perspective, creating a budget is practical and commonplace. So, should the approach to budgeting differ at all as it relates to a business? How important is a budget to a company’s overall functionality? And….
For all of the spotlight that cybersecurity has received over the last several years, there are still an alarming number of businesses consistently failing to protect their data. Even worse, when these organizations ignore the threat of a cyberattack they are also putting their clients’ data at risk. In the….
Research estimates that more than 66 percent of companies lack any type of formal succession plan for their organizations. But in today’s fast-paced, constantly-evolving markets, establishing a succession plan is critical for success in the present and in the future. Massaging talent to eventually fill leadership roles means positioning a….
Organizations across every industry tend to have an “if it’s not broken, don’t fix it” attitude towards their business processes and workflows. Successful companies, understandably so, are hesitant to rock the boat in creating new methods both internally and externally. Change is difficult in any department – from marketing to….
Ellrich, Neal, Smith & Stohlman, P.A. was formed in 1988. Based in northern Palm Beach County, Florida, we serve clients throughout the state. The firm’s original founders are W. David Ellrich, Jr. and Becky B. Moore.
