Processing Your Payment

Please do not leave this page until complete. This can take a few moments.

Updated: March 20, 2023 10 Things

10 Things I know about ... Keeping a small business moving forward

Gicelle Brito is the vice president, business development officer for Workers Credit Union of Littleton.


10) Consult the team regularly. Every small business owner should have a solid team of experts working toward the same vision. This team can include a banker, accountant, bookkeeper, and lawyer.

9) Plan for the long term. Don’t just plan for 2023. All companies should have a business plan updated regularly and including measurable goals. Consult with a financial advisor for retirement plans.

8) Consider vendors. Counteract rising prices by asking vendors to finance the supply purchases. There may be a discount loyalty program. If paying in advance allows them to pay less, owners can take out a line of credit.

7) Use small business loans when needed. Small businesses in need of funding for upcoming projects, business expansion, or equipment purchases can turn to U.S. Small Business Administration loans. A good financial institution can outline what type of SBA loan is appropriate.

6) Pay off debt. Making consistent on-time payments is crucial. Invest in bookkeeping software to track accounts receivables and accounts payables, set up recurring online payments, and keep revolving line of credit below 30% - 40% usage.

5) Implement good hiring practices. Finding and retaining high-quality employees is crucial. Offer employee benefit programs such as health insurance.

4) Create a company handbook. Put policies in writing at a location where all employees can access it. A good handbook can ensure clarity, encourage employee growth, and protect against fraud. Include transparency on performance and what needs to be done to get a raise.

3) Evaluate cybersecurity risk. Many small businesses don’t prioritize this until it is too late. Separate your operating account from the payroll account. Use a separate business debit card for online. Ensure the person receiving payments is who they say they are. Bad actors will copy email signatures and write legitimate-looking invoices.

2) Consult with an insurance agent. An agent can explore policies such as business interruption insurance and employment practices liability.

1) Volunteer in the local community. This allows for additional exposure to connect with like-minded entrepreneurs.

Sign up for Enews


Order a PDF