Money Matters Blog

Business owners and leaders typically put in more than their fair share of hours to guide their companies to success. They’re also focused on making the most of the rewards they receive for that hard work. This time of year, many take time to study and adjust their personal investment portfolios.

If you’re cautious about reacting to emails and online messages promising incredible offers or tax refund opportunities, good for you. It’s prudent to be careful. But if you’ve dismissed something known as ERC as being too good to be true, you may miss out on a significant refund that requires minimal effort to collect.

If you follow economic news, you’ve seen plenty of debates about whether the United States is slipping into a recession. Bankers generally steer clear of media hype and talking heads. Instead, we study economic factors to detect worrisome trends.

Typically, the more your business grows, the more complex your finances become. Even the most diligent owner or CEO may find it increasingly difficult to get a quick measure of their company’s health. That’s when it pays to go back to your Accounting 101 class and renew your acquaintance with some handy benchmarks.

I can’t understate the value of taking a cooperative attitude with the process. Assuming your loan is approved, you and the bank are going to have a working relationship and a stake in your success for several years. Starting that relationship on the right foot benefits both of us.

If you’re like most people, you think of your local bank as a place to safeguard what you’ve earned and borrow more when you need to. That’s accurate, but the most important role banks play in your community is generating money.

Trying to effectively prepare for inflation and economic uncertainty can feel daunting. Instead of freezing in fear, smart business owners look at their situations, evaluate the risks, and follow strategies to limit the potential for problems.

We just wrapped up June, which means our team at The Farmers Bank is reaching the end of our fiscal year. While for many of you, this is mid-year, we are preparing for performance evaluations. Although you may not be approaching these evaluations yet, now is a great time to be thinking about how you might make your next year’s performance review system meaningful for your company and your staff. This season can be stressful for managers and their teams alike! While preparing for these reviews, I’ve been reflecting on the importance of being a coach to your team and not just a manager of projects, processes, and products.

Owners of growing businesses commonly misunderstand the role -- and the value -- debt can play in their companies’ health. Many of us were raised to cast a wary eye when it comes to borrowing, and that reluctance may limit opportunities for success.

I’m often asked questions about how I worked my way to a C-suite position, and I’ve found those questions to be an excellent opportunity to reflect on my journey on getting to this place in my career.