Business Planning

Finding and Maintaining a Computer System for Your Business
Whether your company makes old-fashioned oatmeal cookies or new types of widgets, technology can automate processes, streamline financial recordkeeping, manage databases, update mailing lists, and more. But finding and maintaining the right computer system can be a challenging task. The Texas Society of Certified Public Accountants offers the following tips to help small business owners use technology effectively.

Every Family Business Needs a Succession Plan
There’s a widely published statistic that says only one-third of family-owned businesses survive the transition to the second generation. A primary reason for this dismal survival rate lies in poor succession planning. While issues of mortality and family relationships can make succession planning difficult, a well-constructed plan is essential to passing the business on to the next generation.

Fraud Prevention Steps for Small Businesses 
Small businesses are not immune to employee theft and fraud, and in some ways, may be more vulnerable than larger companies. The trusting, familial characteristics that make a small business a pleasant place to work sometimes contribute to an environment conducive to fraud. According to the Texas Society of Certified Public Accountants, the best way to prevent fraud is to create and enforce effective controls in all areas of potential exposure.

Protect Customer’s Data With a Privacy Policy
As the Internet becomes a prime resource for buying products and services and for conducting financial transactions, there is growing concern about how companies collect, share, and sell customer information. In particular, consumers want to be sure that the information they provide over a Web site will not be used by unauthorized third parties.  Companies that conduct business on the Internet are advised by the Texas Society of Certified Public Accountants to take steps to assure customers that their privacy will be respected. A clearly written and prominently posted Internet privacy policy can alleviate fears, instill a climate of trust, and encourage visitors to feel comfortable doing business with you.