• Skip to content
  • Skip to primary sidebar

Header Right

  • Home
  • About
  • Contact

Archives for December 2020

What to do to Keep Your Business Healthy Before It’s too Late

December 20, 2020 by admin

two men talking businessBusinesses that end up on the critical list usually show signs that they are ailing long before they need intensive care. By recognizing these signs and making a concerted effort to tackle the underlying problems early on, owners can often turn their troubled businesses around and return them to good health.

Warning Signs

Signs of distress may include:

  • Several quarters of declining sales and lower profit margins
  • Persistent cash flow problems
  • Inability to meet a lender’s requirements for a working capital line of credit
  • Declining productivity
  • Poor employee morale
  • The loss or failure of one or more significant customers

Don’t Wait

Business owners sometimes make the mistake of waiting too long to act on bad news. While a bad quarter or two often can be explained away, a persistent problem shouldn’t be ignored. A business that has previously been on a growth track has all the more reason to investigate the reasons for a downturn promptly.

Get on Firmer Ground

Once a continuing problem is recognized, steps should be taken as soon as possible to curb the downward spiral and stabilize the business. It may be important to update bankers and suppliers regarding the situation and let them know that efforts are being made to turn it around. Open communication can help show that management is serious about reviving the business and can make it easier to enlist help from these groups later on.

Analyze Operations

Decisions can’t be made in the dark. Despite the daily pressures that may only intensify during hard times, it’s important to keep financial records and disseminate key information to management for analysis. Expenses should be looked at in detail to determine which can be reduced or eliminated to improve cash flow.

Declining sales can reflect a slow economy, but a downward trend also may indicate that the business is losing market share. This is not the time to let customer service and quality standards falter. Nor is it a time to ignore the competition. A business that is repeatedly losing sales to competitors has to ask whether it is still in touch with — or has lost sight of — the market’s demands.

Take Action

Once all the groundwork has been laid, it’s time to put the plan into action and start making the necessary changes. This is the point when the owner’s leadership skills are put to the test. It is the time when he or she has to inspire and energize managers and employees to make a sustained, disciplined effort to revive the business and retain the support of suppliers, bankers, and customers.

Want to learn more about our small business accounting services? Give Jeff Martin a call at 912-634-7722 today to schedule your free initial consultation.

Filed Under: Business Best Practices

Jeffrey Martin, CPA, LLC Included in UGA Alumni Association’s Bulldog 100 list

December 9, 2020 by admin

M. Jeffrey Martin, CPA, LLC included in UGA Alumni Association’s Bulldog 100 list

University of Georgia Bulldog 100 Business Award to Jeffery Martin CPAAthens, Ga. – M. Jeffrey Martin, CPA, LLC, based in Saint Simons Island, Georgia, has been named to the University of Georgia Alumni Association’s 2021 Bulldog 100, a list of the 100 fastest-growing businesses owned or operated by UGA alumni. UGA received 429 nominations for the 2021 list.

M. Jeffrey Martin, CPA, LLC, owned by 1987 and 1984 UGA graduates Jeff and Lynn Martin, specializes in tax and accounting services for small businesses and their owners.  The Firm was previously a member of the 2015 Bulldog 100.

“We are honored to be associated with such a dynamic group of businesses.  We owe this distinction to our clients and to our employees, because we would not be here without them,” said M. Jeffrey Martin, C.P.A.

The 2021 Bulldog 100 includes companies from over two dozen industries, including agriculture, construction, health care, nonprofits and software. Of the 100 businesses, 81 are located within the state of Georgia. In total, two countries, nine U.S. states, and the District of Columbia are represented in the 2021 Bulldog 100.

This year’s list does not reflect the effects of the coronavirus pandemic on businesses. Each year, Bulldog 100 applicants are measured by their business’ compounded annual growth rate during a three-year period. The 2021 Bulldog 100 list is based on submitted financial information for 2017-19. The Atlanta office of Warren Averett CPAs and Advisors, a Bulldog 100 partner since the program began in 2009, verified the information submitted by each company.

The UGA Alumni Association will host the annual Bulldog 100 Celebration virtually February 11, 2021, to celebrate these alumni business leaders and count down the ranked list to ultimately reveal the No. 1 fastest-growing business.

“These alumni demonstrate the incredible value of a degree from UGA and we are committed to continuing the tradition of recognizing their achievements and connecting them with current students, who will become the next generation of entrepreneurs,” said Meredith Gurley Johnson, executive director of the UGA Alumni Association. “These leaders inspire us by bringing better solutions and building stronger communities, so we will ensure they are celebrated even as necessity requires this to be done virtually.”

To view the alphabetical list of businesses and to learn more about the Bulldog 100, see www.alumni.uga.edu/b100

Contact: Jeff Martin, 912/634-7722, jeff@ssicpa.com

Jeff Martin

M. JEFFREY MARTIN, CPA, LLC

M. Jeffrey Martin, CPA, LLC is a Saint Simons Island CPA specializing in accounting services for small businesses and tax services for both individuals and business owners. We have helped many local businesses with a variety of accounting services including outsourced accounting and bookkeeping, tax strategies, new business advisory, QuickBooks™ support, and more. Our firm offers the essential tools you need to track expenses, monitor cash flow, and identify financial trends so you can plan for the future of your business. No matter what accounting services your operation needs to thrive, we present a common-sense approach with an uncommon level of personal attention and reliable financial advice. We also assist individuals with reducing income taxes and planning for the future including succession planning, retirement planning, and estate planning.

UGA Alumni Association

The UGA Alumni Association supports the academic excellence, best interests and traditions of Georgia’s flagship university by inspiring engagement through relevant programming, enhanced connections and effective communications. For more information, see alumni.uga.edu.

Filed Under: M. Jeffrey Martin CPA News

Primary Sidebar

Search

Archives

  • January 2023
  • December 2022
  • November 2022
  • October 2022
  • September 2022
  • August 2022
  • July 2022
  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020
  • July 2020
  • June 2020
  • May 2020
  • April 2020
  • March 2020
  • February 2020
  • January 2020
  • December 2019
  • November 2019
  • October 2019
  • September 2019
  • August 2019
  • July 2019
  • June 2019
  • May 2019
  • April 2019
  • March 2019
  • February 2019

Categories

  • Business Best Practices
  • Business Tax Articles
  • Individual Tax Articles
  • Investment
  • M. Jeffrey Martin CPA News
  • QuickBooks
  • Retirement
  • Uncategorized

Copyright © 2020 · https://www.ssicpa.com/blog