Small Business Accounting 101: Understanding the Balance Sheet

Understanding your cash flow, profit, and loss statement would tell you some things about your business. However, many small business owners tend to overlook a crucial measure that indicates a more in-depth view of their business’ overall health. This is called the balance sheet, and it’s one of the most vital financial statements since it shows a clear picture of a business’ finances.

What Exactly is a Balance Sheet?

A balance sheet is also known as a “state of financial position” because it allows business owners to know exactly what it currently owes and what it owns. Put simply, it details the liabilities, assets, and equity of any business at a particular point in time. As renowned accountants in Utah adds, it helps business owners determine their business’ financial ability and strength.

Neglecting to understand your balance sheet and failing to resolve issues that it revealed might result in daunting challenges for your small business. Likewise, as your balance sheet is more detailed than your cash flow or profit and loss statement, it uncovers plenty of the crucial of decisions that could affect your business’ overall financial health. These include incurred expenses, pricing and product issues, and sales and marketing performance.

What are the Three Sections of a Balance Sheet?

Your balance sheet has three sections — your liabilities, assets, and equity.

Liabilities detail what your business currently owes or would owe in the future, assets are what your business owns, and equity is the net worth of the owner. These numbers could be either negative or positive. If they’re negative, you should take the necessary steps to improve them as early as possible.

Generally speaking, your business assets should be higher than your liabilities so that your equity would be positive. This means that you don’t ever want to see the liabilities section of your balance sheet increasing faster than your assets.

Your business’ balance sheet is an extremely powerful tool that could tell many things about the health of your business’ finances. It’s comprehensive and offers a clearer snapshot of your business’ overall health. Ultimately, your balance sheet shows the exact worth of your business, so make certain that whoever does the calculations does it properly.

Minimising the Dangers of Sand Blasting

Person removing rust from metal using sandblasting

Sandblasting has many potential hazards to workers. Business owners can lessen potential health issues related to sandblasting when they are aware of the dangers involved, and the proper safety measures to adhere to.

Here are some factors for consideration when practising safety in sandblasting.

Protection from silica sand

Crystalline or silica sand is one of the most common materials used in sandblasting. Silica is a toxic material, and if it is not handled correctly, it can cause serious health hazards for workers. Some possible diseases caused by silica sand exposure include lung cancer, silicosis and other respiratory health issues. Labourers who handle silica products that contain quartz must use proper positive pressure or pressure demand respirators.

Limiting exposure to pollutants

Sandblasting workers must be well-trained to prevent exposure to toxic silica. All employees must receive proper preparation before operating bead blasting guns and other sandblasting equipment. They must also be equipped with personal protective equipment (PPE) to limit being exposed to harsh fumes and particles. Inhaling sand particles may result in serious health issues that either occur immediately or years down the line.

Silica can also be absorbed through the skin. As such, protective clothing such as helmets and leather gloves help in minimising skin contact with sandblasting particles. The right amount of ventilation is also a key component in sandblasting safety. Business owners must ensure that sandblasting is carried out in open spaces with ample ventilation. If sandblasting is to be done indoors, exhaust ventilation systems must be installed correctly in the work area to capture dust and prevent it from floating freely in the air.

When the work is done

Employees must observe thorough clean-up methods to prevent any further exposure. It is imperative to include clean-up as part of the work process, to lessen the occurrences of silica exposure.

Business owners must ensure that their work areas are safe. Knowing the right safety measures and putting them in place will benefit your employees and your business. If any workers come in contact with silica or other sandblasting materials, they must seek immediate medical attention.

Property Managers: Do you Need One?

a couple looking at documents

A property manager is someone who takes care of your rental property on your behalf. They are your representatives and handle day to day operations as well as troubleshoot problems. Because they are responsible for the overall welfare of the property, such professionals often stay in the rental venue.

However, not everyone agrees with the idea of having a property manager. But deciding whether or not you need one can be tricky, especially if this is your first time. This guide will help you determine if you need a property manager to help you with your North Shore rental.

So, the question is, when do you need to hire a property manager?

Rental property proximity

One of the main reasons why owners hire property managers is because of their proximity to the rental property. Driving three hours to solve an electrical issue in your rental property is costly, not to mention a hassle. Thus, if your home is not close to your rental unit, then having a property manager would be a wise choice.

Number of units handled

As much as you want to be a hands-on owner, it is not possible. Thus, if you are managing more than two units in different locations, hiring some professional help is a practical, not to mention convenient move.

Experience (or lack thereof)

Do you have experience in managing rental properties? If not, then hiring one would be recommended. If yes, then you might opt to forego this option or choose it because you know how much burden will be lifted off if you hire one.


Hiring a property manager does not come cheap. But if your property is doing well and you have the budget to employ one, then feel free to do so and enjoy the perks of having one.

Still confused if you need to hire one? Think of the points listed above as honestly as possible. It will help lead you to the right answer.

Liquid Fillers: How to Choose What’s Right for Your Products

employee conducting quality control in manufacturing line

These days, product manufacturers know that they need liquid-filling equipment because their liquid products have different consistencies. Some containers also require specific filling materials. With that in mind, finding the right piece that works with your product is crucial because inefficient packaging results in profit loss.

One of the most critical factors to consider is the viscosity of the liquid. You need to use fillers that are compatible with the thickness of the product. Some fillers are designed to work with water-thin fluids, while others are designed to handle highly viscous beverages. Here are the main types of liquid fillers that you can consider for your packaging line:

Gravity and Pressure Fillers

If your product line is composed of water-thin to medium viscosity, gravity and pressure fillers are the right choice. Gravity fillers will take care of water-thin and foamy products, while pressure fillers are better at handling thicker liquids.

Pump Fillers

If you’re dealing with products with low to high viscosity and different container designs, you can use pump fillers. There are a lot of types to choose from, including rotor pumps, gear pumps, and more. If you’re not sure which one to use for your products, you can ask a packaging expert.

Overflow Fillers

If your products require a consistent fill level for cosmetic purposes, you need overflow fillers. Typical products that need this kind of filler are low-viscosity liquids in transparent containers.

Using the right machinery, you can be more efficient during the liquid-filling process. You can also maintain the sanitation and safety of your products. Finally, with increased accuracy, you can minimize waste and increase your profit.

Investment Safeguarding – Is This Always In Place?

Business meeting

A Google search for Investment Opportunities UK bring up a myriad of companies offering a range of different options for investment this includes many firms who are looking to raise capital for start up companies. An example of this would be Angel Investment Network who are looking to raise finance for many companies in the UK ranging from software to property to investments not even based in the UK.

This may lead you to wonder, how can I be sure that the Investment Opportunities UK that I choose fit with my investment objectives and have safeguards in place to protect me should things go wrong? This can be a very dangerous minefield if you are not careful and that is where a company like AMYMA may be able to help.

Well in truth many of the Investment Opportunities UK that are brought up by this search are not going to have any safeguards in place and the companies who are selling them are generally unregulated and have no cause to adhere to any rules put in place by the financial regulator. Additionally the companies who sell them will know nothing about you and will not take into account your views when selling products to you.

AMYMA connects individuals actively seeking investment opportunities with companies generally based in the UK, who are looking to raise additional funds to expand their business, typically these companies are valued by independent sources at between £5 million and £500 million. Generally these companies are offering attractive investment prospects in the form of Shares (EIS & SEIS opportunities) or Corporate (Capital) Bonds, because AMYMA are specialists in this marketplace and have researched the market and each investment that they offer to try to ensure that the products they offer are only the best and most reliable investments.

These Investment Opportunities UK can be attractive to investors as the returns that they can produce can be as high as 10 or 12% which is far higher than the 2-3% that the same investment may attract on the high street.

AMYMA’s introducing agents are trained to understand what you are looking for as quickly and clearly as possible. This allows an introducing agent to introduce you to investments that possess as many of the features that you have expressed are important to you. Each investment provider sends you their promotional material directly and this documentation is designed to detail all of the risks and rewards.

It is important to note that AMYMA are regulated by the FCA but do not offer financial advice of any kind. Most of the products we offer are suitable only for High Net Worth or Sophisticated Investors and are not suitable for normal or retail clients. Many products are not covered by the Financial Services Compensation Scheme which means that should they go wrong you would not be covered.

As you can see organizing an investment with AMYMA could potentially be very lucrative but it is very important to ensure that the investments you are making are well structured and as safe as they can be. That is why talking to your AMYMA agent could be beneficial if you are looking to make an investment.