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[teresanguyton]

https://www.theexpertcfo.com/

The Expert CFO is a business opportunity where individuals can join a network of CFO experts to start their own CFO consulting firm.  The Expert CFO is the fastest way to start your own CFO consulting business, and we're the only company with Comprehensive Training, Lifetime Support, and a proven Marketing System.

[dailybusinessfacts]

Trending Facts About Business Women in the USA

We asked current and aspiring women business owners to share what their businesses look like, how they responded to the COVID-19 pandemic, and more. Here is a look at how 2020 affected small business women in the USA and what they expect in 2021. In this article, we will take a look at the trending facts about business women in the USA.

America’s Women Business Owners

Thirty-one percent of all small business or franchise owners are women – up from 27 percent last year – according to the Small Business Trends survey results. Over half of those business women in the USA are Gen X (born between 1965 and 1980). Baby Boomers (1946 – 1964) account for 31 percent, while 17 percent are Millennials (1981 – 1996). Gen Z, born in or after 1997, makes up one percent of respondents.

The reasons these business women in the USA are varied, but the plurality of 29 percent said they were ready to be their own boss. The next-most common response at 20 percent was a desire to pursue their passion, followed by a dissatisfaction with corporate America and the presentation of an opportunity, each with 13 percent. This is amazing facts about business women in the USA.

The top four industries women own businesses in are health, beauty, and fitness services; food and restaurant; retail; and business services. The amount each spent to launch their business differs, though over half spent less than $50,000. Seventeen percent spent between $50,000 and $100,000 and nine percent spent up to $175,000. The remaining 22 percent spent between $175,000 and over $1 million, though only two percent fell into the $1 million+ rank.

Impressively, 30 percent of respondents have owned their business for 10 years or more. Seventeen percent just launched last year, 20 percent have been open two to three years, and 13 percent for four to five years. In total, businesses that have been open for five years or less account for exactly 50 percent of respondents. Fifteen percent of these women-owned businesses have been open six to nine years and it is trending facts about business women in the USA.

The large majority of business women in the USA employ at least one person other than themselves: 46 percent employ two to five people, while another 19 percent of business women in the USA have between 6 and 10 employees. Fourteen percent of respondents employ between 11 and 50+ employees, and the business owner is the only employee in the remaining 20 percent.

The number of people employed by business women in the USA is increasing: last year’s Small Business Trends survey saw 32 percent of owners were the only employee, and the two to five range has also increased year-over-year by 23 percent. Not only that, but 58 percent of women-owned businesses were profitable. Profitability is down 18 percent from the prior year, though this is no surprise given the upheaval of 2020.

1. The Challenges Small Business Women in the USA Face

The top challenges business women in the USA faced in the last year were marketing and advertising with 24 percent of the share, lack of capital / cashflow at 17 percent, and recruiting/retaining employees at 15 percent. Other common challenges included managing/providing benefits (14 percent), administrative work (13), and time management (nine).

To help lighten the load, business women in the USA have plans to outsource some business services to another professional or organization in 2021. Twenty-five percent of respondents will outsource tax preparation, 19 percent payroll, and 17 percent CPA services. Other common responses included bookkeeping, IT support, and marketing/advertising.

2. Women Entrepreneurs and Business, Politics, and COVID-19

2020 proved to be a wild ride in business and politics alike. When asked which party best represented their own political views, 33 percent of women business owners answered Democrat and 24 percent Republican. Seven percent answered either Libertarian, Green, or other. But a stunning 36 percent – over one third of all respondents – said they do not belong to or feel represented by any political party.

Despite feeling politically unmoored, 55 percent of business women in the USA voted for Joe Biden in the 2020 presidential election, while just over a quarter (27 percent) voted for Donald Trump. The remaining 18 percent wrote in, voted for other candidates (like Libertarian Jo Jorgensen) or abstained from voting entirely.

Responses about the post-COVID small business landscape were more evenly distributed, however. While 40 percent of women business owners feel somewhat to very unconfident about small business in a post-COVID world, 44 percent are feeling the opposite: somewhat to very confident. Sixteen percent remain neutral.

That’s not to say women-owned businesses didn’t take a hit during the pandemic: over 21 percent of these businesses experienced revenue loss due to COVID. Twelve percent of owners temporarily closed their business, 11 percent reduced their budget, and nine percent cut their own wages. However, while 11 percent had to furlough or lay off employees, less than one percent of women-owned businesses have been forced to close permanently.

Instead, they’re getting creative: nine percent of women business owners pivoted to a socially distant business model or changed their goods or services. Twelve percent of respondents reported a positive effect during the pandemic, including increased revenue, expanded business, hiring more employees, and increased wages. An additional four percent said COVID has had no significant effect on their business.

Despite the challenges they’ve faced throughout 2020, a full 77 percent of business women in the USA expect their business to survive through the COVID-19 pandemic.

Read more about how COVID has affected small businesses across the country in our 2021 COVID-19 Small Business Trends report.

3. What Comes Next for Women-Owned Small Businesses

Things are looking up for women-owned businesses in 2021: nearly half of women business owners plan to grow their current location, while a third will sustain it. Nine percent plan to sell and eight percent will open a second location.

At the end of the day, a full 76 percent of women business owners report being somewhat or very happy, while just 14 percent report being very or somewhat unhappy. Despite all the challenges of 2020, women business owners have triumphed.

[mwatech]

Outsource – CPAs Big Decision for Tax Season

Outsourcing has been maligned for political reasons. The tremendous benefits of outsourcing to all, have been lost among the debates related to its so-called damage to the nation's economy. Outsourcing has suffered because of its close association, in today's world of internet, to offshoring. However, outsourcing has been a normal business practice for a long-time in the US and has been the major contributor to the growth of many business organizations.

Outsourcing has been used very frequently in the manufacturing industry for a long time very successfully. Manufacturers have been able to reduce their overall costs, improve manufacturing processes, improve product quality and grow their business with the help of outsourcing. Even in the service sector, outsourcing has been used quite well for many years. Even in the 1980s CPA firms would hire tax filing firms to enter data into tax software and provide tax return printouts to reduce the load on the firm staff. With the arrival of tax software that could be used by accountants in their own offices to prepare tax returns, somehow a trend of bringing back all work in house took hold. For the last few years, small and medium-sized CPA firms have developed a habit of handling all the work in-house and taking pride in it. This trend, that took hold in the last few years, and the negative publicity associated with outsourcing is to the disadvantage of the accounting industry.

Outsourcing is a fact of life in the 21st century. From our domestic lives to every aspects of our professional lives, we outsource. In this age of specialization, it is extremely crucial for the accounting industry to pay attention to the benefits of outsourcing and catch up with it as soon as possible. There are some very definite benefits in outsourcing, for CPAs.

CPAs who own and manage small or medium-sized practices spend a tremendous amount of time manage their practices, including staff management, work flow management, and handling usual problems associated with managing a small business. However, the actual strength of CPAs is in their ability to decipher tax laws and advice and help their clients optimize their tax situations. They also have a strong understanding of the issues related to efficient financial management of businesses and personal financial management. They can help with business valuation and help clients develop systems and procedures for effective management of their businesses. All of these services require CPAs to have the time to continuously develop professionally to stay current with the new developments in each of those fields. They also need to have the time to dedicate to their clients in these areas. If they are too busy managing their practices, supervising their staff's work, entering data into tax software and compiling tax returns, then they are too busy doing the work that could be easily done by someone else, under their supervision. They get themselves too busy competing with the "other" tax preparation services, franchised or independently owned, and do not get the time to provide the much-needed high-value services to their clients.

Outsourcing their tax and regular accounting work provides a great opportunity to CPAs to release themselves to provide high-value services to their clients. Many clients get an opportunity only once in a year to interact in detail with their CPA at tax time. Many CPAs lose this opportunity as they are too busy with the "tax season" and do not have the time to look at anything else. That is surely a lost opportunity, year after year. If CPAs organize their time, during tax season, in such a way that they get to interact with their clients and look at their matters in detail, they could grow their business significantly. Clients like CPAs who take interest in their matters and provide personal attention to them. Most clients, that are of value to your practice, do not mind paying for such premium services.

Tax season this year offers an opportunity, once again, to CPAs to consider outsourcing some of their tax return work. By doing so they could have some extra time to provide higher-value services to their clients and differentiate their practice from the other tax preparation services. It is now time for CPAs to differentiate themselves from the regular bookkeeping and tax preparation services and outsourcing provides a great opportunity for them to do so this tax season.

from CPA Marketing http://ift.tt/2ktcPnT

[teresanguyton]

https://www.theexpertcfo.com/

The Expert CFO is a business opportunity where individuals can join a network of CFO experts to start their own CFO consulting firm.  The Expert CFO is the fastest way to start your own CFO consulting business, and we're the only company with Comprehensive Training, Lifetime Support, and a proven Marketing System.

[ebdaa-posts-blog]

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[ebdaa-posts-blog]

Doing Business in Egypt – Create a Company in Egypt

Fathalla CPA – specialist in performing Companies in Egypt , we have super skills to cover you doing a reliable business in Egypt and middle east.  Our clientele are truly international; we work with national and multinational firms from all over the world, for instance, the UK, the Netherlands, Japan, Kuwait, Pakistan and Turkey.  Our Services  All Tax Services Auditing & Assurance, Accounting & Bookkeeping, Establishing all forms of companies, Legal services, Feasibility Studies, Zakat Services, Establishing financial & accounting system, Training Courses  http://www.fathalla-cpa.com/  +201111114032  info@fathalla-cpa.com

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