• Everlasting Capital

Finance Tips for Small Business Owners

Updated: Feb 18



As a business owner, financials are vital to your success. If you don’t know where your finances are or where they’re going, you won’t be able to keep track of sales. You won’t know if you’re making a profit. Losing money is the last thing you want when owning a business. Here are some good habits to practice as a business owner.


  • Frequently check your finances — similar to marketing, you want to make sure you check how your business is doing. If sales are lower than usual, find out why. Maybe things are going at a steady pace, find out ways on how you can improve that. If sales are at an all-time high, keep doing what you’re doing! Don't forget to take into account factors such as time of year, number of employees, etc.

  • Stay within a budget — often times business owners get too excited and want to spend what they have for the business. Although it is good to be excited, in order to be successful along the way, it is best to stay within a budget. Overspending will be more harmful in the long run.

  • Prioritize saving — you never know when you’ll get hit with unexpected expenses. Have a separate account for emergencies only. You can use this for taxes as well. This way you won’t have to take money out of your income to pay them off.

  • Consistently lower debt — you want money to be going into your pocket not towards your debt. Get rid of any personal debt you no longer need. If you have a business loan out you want to make sure you’re making payments. When applying for a business loan make sure you are able to afford the payments before making a commitment.


You want your business to optimize money to its full potential. It can be very beneficial when used properly. Even if business is thriving, you want to make sure you know exactly where every dollar is going. Hold yourself accountable. If you’re not 100% sure what you're doing, reach out to a financial adviser that can help you maximize your dollar’s worth. Most importantly, remember to trust the process. Do you have tips of your own that helped your business financially? Let us know in the comments!


This blog was based off of Matthew Baker’s ‘The 7 Financial Habits of the Most Successful Small Business Owners.’ Check it out for a more in-depth explanation!