BMO’s Jamie Doolittle, Head of BMO Business Banking for Central Region, Ontario, hosts Heather Tuason, CEO of Arena CEO, for a discussion about Financial Forecasting – the New Year’s resolution that pays off.
What are Accounts Receivable and Why Do They Matter? Accounts Receivable are one of the most important components of your revenue line. Very simply, accounts receivable are money you are expecting to flow into your business as a result of work performed or goods and services dispensed. As a business owner you sell a product…
Learn how forecasting can support business growth and success with BMO and ARENA.
As an entrepreneur, it’s not uncommon to face financial challenges while running your business. Cash flow fluctuations, unexpected expenses, and unforeseen circumstances can sometimes lead to running out of money temporarily. However, it’s important to understand that running out of money doesn’t necessarily mean you have a bad business. In this blog, we’ll explore this…
50% of businesses fail by their 5th year. 82% of those failed businesses say it is because of cash flow. ~ Small Business Administration What the heck is cash flow?! Cash flow for a business is critical to keeping your business going, paying your employees on time, and making sure you have your product available…
It’s the middle of the month and you know it’s almost time to start paying the bills you’ve received from your vendors. You haven’t been surprised by any of the expenses—you’ve planned for each one and knew they were coming. Great work! Your preparation only leaves you with one question: how should you process each…
BMO Harris has joined up with Arena to be fueling growth and expanding possibilities for entrepreneurs. On November 18, 2021, founders Heather Tuason of Arena Pay and Amber Payden of ThinkSMARK held a discussion that explored their motivations behind reasons for starting their businesses, how they are supporting other entrepreneurs, and provides helpful advice to…
One of the hardest things to do in small business is getting that first loan. Due to recent ups and downs with both Wall Street and Main Street, lenders can be skittish when it comes to lending capital to businesses for the first time. While it’s easy to demonize banks, small businesses and the financial…
It’s not easy for small businesses to stay on top of their finances. Each year, the National Federation of Independent Businesses (NFIB) surveys thousands of small businesses on literally everything—including their biggest challenges. Of the top ten challenges in the report, three of them related to financial matters: federal income taxes, tax compliance, and cash…
We have all heard “cash is king”. If there is anything more crucial to a growing business than profit, it is liquidity. While profitability can be manipulated on the balance sheet, your cash is discrete and finite. Investors and banks know this; as a result, they will use your cash position to determine your business’…
