A recent survey by human resources service CheckPoint HR found 39 percent of New York City small business owners plan on hiring this year, which is significantly higher than national figures interpreted by a recent CareerBuilder survey.
While these figures suggest tri-state area small businesses are beginning to grow or recover from the recession, it is important for owners of these companies to get their financials in order - a task that is increasingly difficult amid a rebounding economy and a rapidly approaching tax season.
"Sure, you have an accountant, but do you only get together with him or her at tax time?" asks Jamillah Warner in Small Business Trends. "A good accountant can help shape up your business’s finances all year long. Check in with your accountant once a month to follow up on results, fine-tune systems and make sure your company is on track."
It's natural for entrepreneurs and business owners to be more focused on the managerial and growth aspects of the company while being less concerned over the numbers. That's why accountants exist - to fill that gap.
However, entrepreneurs looking to form an LLC in New York should be careful not to carelessly shrug off all finances to the responsibility of accounting. It's important to be informed about monetary conditions and transactions, even if only from an outside perspective.
Tags : financial management, ny, small business management
Posted: Feb 24th, 2011