Glenda Moehlenpah photo with Financial Bridges logo

Glenda Moehlenpah CPA, CFP®

 

Financial Bridges

12975 Brookprinter Place, Suite 140, Poway, CA 92064

 

Phone: 858-486-0100

 

Email: glenda@financialbridges.com

Website: www.FinancialBridges.com

March/April 2023

Business Owners Strive to Counter Inflation

In Fall 2022, the U.S. Chamber of Commerce Small Business Index listed the impact of inflation as a major concern of 90% of small business owners. Business owners who consider inflation a significant challenge to growth and profits may want to take steps to counter its effects.


What about Cash?
Because supplies and labor are more expensive, your business’s profit margins are likely shrinking. While there’s nothing you can do about inflation, investing some of your cash to stay ahead of rising market prices may be a smart move. Your financial professional can recommend appropriate investments.


Judicious Moves
While you want to maintain a good rapport with vendors be cautious about making loans and extending lines of credit. Keep a close eye on spending and expenses. Proceed cautiously with any new strategies you’re implementing, while ensuring that products move to market at a reasonable pace.


Insurance Review
Outdated insurance coverage limits could make it impossible to recover from a major loss. Review your insurance policies.


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