• About
  • Contact
  • Testimonials
  • Newsletter
  • More
    • Demographics & Advertising Rates
    • Terms & Conditions
Thursday, September 21, 2023
No Result
View All Result
California Business Journal
  • Front Page
  • Business
  • Finance
  • People
  • Featured
  • Opinion
  • Technology
  • Law
  • News
  • Food
  • Art & Culture
  • Human Interest
  • Education
  • Insurance
  • Real Estate
  • Health & Fitness
California Business Journal
Marie Phillips2

Commentary: Small Biz Creation 101

California small businesses account for 46% of the state’s overall payroll, and the average disposable income per capita is $57.3K -- $8.5K above the national average -- making it the ideal place to launch a business.

by Marie Phillips, Special to California Business Journal
A A
Share on FacebookShare on Twitter

California is, of course, a beautiful state – with people, beaches and terrain to match. However, throughout the pandemic, it has also served us well in a less visible way – through its ability to foster a burgeoning small business ecosystem.

According to a GoCardless report that highlights the best states to start a small business in, California ranks the highest due to its big community and high disposable income. Small businesses account for nearly half (46%) of the state’s overall payroll, and the average disposable income per capita is $57.3K ($8.5K above the national average).

Naturally, this is great news for all Californians looking to start a small business this year; and though many may be filled with trepidation to do so on the heels of the pandemic, there are a few key foolproof steps to keep you on the right track:

Finalize your bottom line before you start. Understand the financials you currently have in place, what funds your business will need over a certain time period, what it will take to remain profitable, and milestones you should be reaching at various points in your timeline.

ADVERTISEMENT

Invest in a solid tech stack. Many startups and young businesses try to cut costs everywhere possible, but that’s not always the smartest long-term strategy. Investing in certain software – for example, accounting platform Xero – allows you to track cash flow in real time, run your business “on the go” and save valuable hours on back-end functions. And these kinds of integrations have become increasingly popular since the pandemic. With Xero, businesses have access to a thriving ecosystem of more than 800 third-party apps that support everything from inventory to project management and more, so businesses have an array of options to build a customized tech stack.

Surround yourself with the right team. Being a business owner can be lonely and overwhelming. Working with an advisor or a bookkeeper you trust will help you double your chances of survival. Their expertise can save you time and energy to focus on what matters most: your products and services. Additionally, with the help of a trusted advisor, you’ll be able to work closely with someone who understands your finances and can help you make educated decisions about your business. Getting advice from someone who has years of experience with small and growing businesses similar to yours will help set you up for success from the start.

Given the immense amount of pressure that businesses are under in the face of the pandemic, it’s understandable that many entrepreneurs are pumping the brakes on setting up shop – but California provides an unparalleled opportunity for success if the appropriate steps are taken in preparation. It’s an opportunity that should certainly be taken advantage of, regardless of how daunting the environment may seem.

About Marie Phillips, CPA

Marie started her career as a financial analyst working for PepsiCo and Forever 21. Her entrepreneurship mindset and passion for technology and streamlining processes led her to the public accounting industry.

About Connected Accounting

With over a decade of experience in accounting services, Marie started Connected Accounting to help business owners scale their business. She is passionate about saving her clients valuable time and transforming their businesses.

Related reading and useful resources for business owners: 

  • Cerity Insurance for California businesses 
  • What drives sustainable brands and relationships in business 
  • Choose a career you love and you’ll be successful
  • Emerging eCommerce Consultant Companies

 

 

Tags: accountingadvisorbestbusinessesCaliforniaCalifornia small businessesCaliforniansCeritycommunityCPAeCommerceenergyentrepreneursfinancialfocusFundsinsuranceinvestingmakingnewspayrollrelationshipssmall businessstartupssustainabletechnologytrust
ADVERTISEMENT
Marie Phillips, Special to California Business Journal

Marie Phillips, Special to California Business Journal

Related Posts

Small Business Owner
Taking your small business to the next level
5 Top Tips to Choose the Right Career
5 Top Tips to Choose the Right Career
Business, Technology, Internet and network concept. Young busine
The Benefits of Quality Assurance and Software Testing
ADVERTISEMENT
ADVERTISEMENT

CBJ Newsletter

Facebook Twitter LinkedIn Instagram LinkedIn

Advertise With CBJ

Contact Rick@CalBizJournal.com

CBJ Rates and Demographics

ADVERTISEMENT
ADVERTISEMENT
1REALTOUR-SAN DIEGO-WEB DESIGN
Facebook Twitter LinkedIn LinkedIn Instagram Youtube
C B J   LOGO  SVG-01
  • About
  • Contact California Business Journal
  • Testimonials
  • Demographics & Advertising Rates
  • Terms & Conditions

Categories

  • Art & Culture
  • Business
  • California Hotel Listings
  • Daily Updates
  • Editor's Choice
  • Education
  • Featured
  • Finance
  • Food & Dining
  • Health & Fitness
  • Human Interest
  • Insurance
  • Law
  • Lawyers
  • Marketing
  • Medical
  • News
  • Newsletter
  • Opinion
  • People
  • Popular
  • Real Estate
  • Social Media
  • Technology
  • Uncategorized

CBJ Partner Firebrand Media

Laguna Beach Independent Newspaper
 Laguna Beach City Guide
 Newport Beach Independent Newspaper
Newport Beach Country Club Magazine
  Montage Magazine
 Omni Escapes Hotel Magazine
 Bespoke Concierge New York
 Evans Hotels
 Laguna Beach Magazine
 On The Menu Laguna Beach
 Newport Beach Magazine
Coastal Real Estate Guide (NB,LB, CDM)
Monarch Beach Resort Magazine
 Pacific Coast Magazine (SoCal)
Sea Island Life Magazine
Salamander Hotel & Resorts Magazine
 View our entire portfolio

 

Most Viewed

  • More Truth About Temu: Is Temu A Chinese Company?

    The Truth About Temu: Where Is It From?

    0 shares
    Share 0 Tweet 0
  • Lawsuit Basics: How Much Does It Cost to Sue Someone?

    0 shares
    Share 0 Tweet 0
  • How to Get Free Stuff on Temu (The EASIEST Methods Explained)

    0 shares
    Share 0 Tweet 0
  • Investigation: Can TriumphFX Take Your Money?

    1 shares
    Share 0 Tweet 0
  • What to Do When an Online Casino Refuses to Pay Out Your Winnings

    0 shares
    Share 0 Tweet 0
  • The Impact of Covid: Racing to Buy Second Citizenships

    3 shares
    Share 0 Tweet 0
  • 30 Best Temu Alternative Apps To Buy from Online

    2 shares
    Share 0 Tweet 0
  • NFL Paychecks: How Do NFL Players Get Paid?

    0 shares
    Share 0 Tweet 0
  • Top 5 Flavors On Elf Bar BC5000 Review

    0 shares
    Share 0 Tweet 0
  • Temu’s New Shipping Policy Is A Smashing Hit For Shoppers All Over the Country

    0 shares
    Share 0 Tweet 0

Latest Articles

Source: https://www.pexels.com/photo/woman-in-white-long-sleeve-shirt-using-macbook-pro-5076531/

Renty AI: Is AI Going To Take Over The Rental Market?

Empowering lifelong learning and transforming learning and development

Where can I Buy Designer Pakistani Clothes in the USA

Op-Ed: The Role of Home Security in Crime Prevention

Credits: Unsplash

Mastering Real Estate Marketing with Exterior 3D: Your Problem-Solving Guide

Redefining the Game: How Cutting-Edge Tech Transformed the Live Online Casino Experience

The Betting Industry’s Growing Impact on Sports Sponsorship

The Significance of a Police Report in a San Diego Car Accident Case

Why Originality in Writing is Important in Our New ChatGPT World

Karns and Karns: The Gold Standard in Personal Injury Law Arrives in Sacramento

California Business Journal | California Business News, California News Media, California business articles | Orange County, Los Angeles, San Diego, Inland Empire, Northern California, San Francisco | Huntington Beach CA 92649 | (949) 648-3815
ALL RIGHTS RESERVED BY CALIFORNIA BUSINESS JOURNAL.
Site Design by 1REALTOUR

No Result
View All Result
  • Front Page
  • Business
  • Finance
  • People
  • Featured
  • Opinion
  • Technology
  • Law
  • News
  • Food
  • Art & Culture
  • Human Interest
  • Education
  • Insurance
  • Real Estate
  • Health & Fitness

California Business Journal | California Business News, California News Media, California business articles | Orange County, Los Angeles, San Diego, Inland Empire, Northern California, San Francisco | Huntington Beach CA 92649 | (949) 648-3815
ALL RIGHTS RESERVED BY CALIFORNIA BUSINESS JOURNAL.
Site Design by 1REALTOUR