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How Can the Fractional Staffing Model Benefit Your Business?
Many small businesses that are considering their future growth have considered hiring a fractional team to come support their everyday business functions. Fractional models offer many benefits to business owners that choose to go that route. These models can allow …
Need Help Planning Your Business Structure?
On July 11, TGG’s founder and CEO, Matt Garrett partnered with SBDC @ UCI Beall Applied Innovation to discuss the ways you can grow your business through entity structure and formation. Being a business owner is one of the greatest …
Unlock the Hidden Value in Your Balance Sheet
Managing a company’s resources can feel like a daunting task for some business owners. The challenge becomes even greater for company’s with a high level of annual revenue and a large customer base to account for — without proper financial …
Why Did the SBA PPP Funding Run Into So Many Problems?
As many small business owners expected, the SBA PPP loans have proven to be an excellent option for funding during this uncertain time. However, many small businesses were blindsided by how quickly these funds were depleted and became enraged after …
Frequently Asked Questions Surrounding the MSLP
Navigating the MSLP loan requirements and details can be overwhelming for some companies. The FED recently hosted a webinar to help us better understand the program and the requirements behind it. Here are some of the key takeaways from the …
Did You Receive the SBA PPP Loan? You Might Get Audited!
The SBA PPP Loan funds have been replenished recently and are currently being disbursed among many small businesses throughout the U.S. Recently, Treasury Secretary Steven Mnuchin announced that all SBA PPP Loans of over $2 million will be subject to …
Economic Downturn Recovery: How to Stabilize and Grow Again
As we begin to look beyond the coronavirus economic lockdown, the government gave us a plan to end lockdowns and stay-at-home orders within the next few months. President Trump has provided governors with a three-phase program intended to safely revive …
WHAT DOES A CONTROLLER DO AND WHAT CAN YOU EXPECT FROM THEM?
Your Controller should not be doing data entry. The Controller’s main job responsibility is to manage the accounting department from a high-level. Compared to your Bookkeeper, Staff Accountant and/or Accounting Manager, the Controller is focused on ensuring the accuracy of …
WIP Schedule: How It Impacts Construction Cash Flow
A Work In Progress (WIP) report consists of an accounting schedule that’s a portion of a company’s entire balance sheet. In best practices, each accounting period has a calculated work in progress report that complies with GAAP principles. These reports …
How to Know If You Have Hired the Right Staff Accountant
Staff Accountants are the backbone of any good accounting firm and handle the majority of basic accounting functions for your company. When you have great Staff Accountants, your business will run more smoothly, and your CFO will be able to …
Fraud Prevention for Small Businesses and Controls
Small businesses are among the most vulnerable groups to fraudulent activity. These businesses are more susceptible and face a greater risk of fraud because typically, they have employees working across many different departments as their job description, there is a …
How to Prepare for a Supply Chain Disruption in the Future
As the effects of COVID-19 continue to unfold, many companies have found themselves in a situation for which they were unprepared. Without implementing proper crisis preparation tactics, companies will continue to suffer, as businesses deal with future unexpected occurrences. Being …
Regulation Crowdfunding: From Temporary Relief to Modern Capital-Raising Strategy
On May 4, 2020, the SEC announced temporary conditional relief for small businesses that have offered Regulation Crowdfunding offerings in the past to allow them to raise additional funding through Regulation Crowdfunding investment offerings under more expedited and less strict …
Restaurant and Bar Resources During COVID-19
Small businesses are doing everything they can to overcome the economic hurdles created by the COVID-19 outbreak. It is clear that every business will be impacted in some way, but restaurants and bars have been hit especially hard—and suddenly— by …
Stacey McKibbin and Matt Garrett Discuss Risk Management in the Face of Coronavirus
With the new normal becoming a reality for everyone, how can we prepare our businesses to survive and thrive during this unprecedented time? TGG Founder & CEO, Matt Garrett, and Stacey McKibbin, CEO of Consilio Consulting discuss the importance of …
Financial Transparency for Complex Organizations
As a developer or private equity firm, it is important to streamline your accounting and forecasting processes—particularly when there is complexity involved—in order to ensure the greatest amount of transparency across your company’s financials. This becomes more complicated (and important) …
Paycheck Protection Program Challenges
The Paycheck Protection Program has been created to assist small businesses during this unprecedented time. The SBA PPP program is only a part of the CARES Federal Stimulus package, which works to counteract the economic downturn related to the COVID-19 …
MSELF Loan: Helping Businesses Navigate COVID-19
The government has implemented yet another business stimulus loan program called the Main Street Extended Loan Facility (MSELF). This loan program provides up to $2.3 trillion in loans to larger businesses in need. All US banks are eligible to originate …
The Accounting Dream Team: Roles and Responsibilities
As most business owners know, the team behind your bookkeeping is vital to the success of your business. Still, things can get a little complicated when it comes to understanding the roles and responsibilities of each person. In the interest …
Cybersecurity Protocols
With the changing technological times, almost every company is utilizing technology to run their businesses. This can put a company in a vulnerable position if they do not have the right cybersecurity protocols in place. Small businesses tend to be …
Board Disruption Planning for Emerging Technology
Adopting new technology can be daunting, but innovation is critical to business survival in the age of digital disruption. A recent survey by Ernst & Young revealed insights to help boards of directors improve their companies’ approaches to adopting emerging …
Client Spotlight-National Cardiac Inc. (NCI)
The team at TGG has been working with National Cardiac for over 2.5 years and in that time, they have had some exciting breakthroughs that will change the way cardiac health is administered across the country. We recently interviewed the …
Will AB-5 Be Overturned in the Face of Coronavirus?
As we look into the second quarter of 2020, the question that remains on many business owner’s minds is: will the rules outlined in AB-5 stand in the face of coronavirus? Concerns around the new criteria for worker classification outlined …
7 Accounting and Finance Tactics for Business Survival in Uncertain Markets
This is an article of accounting and finance tactics on how to survive and thrive that our CEO, Matt Garrett shared in a webinar presentation with Vistage. You can view the recorded version of the webinar and the article here …
HOW TO FIND A GOOD CPA and Evaluate the Relationship
As businesses grow and change, it is necessary to re-evaluate your relationship with your Certified Public Accountant (CPA) from time-to-time and assess whether that CPA is the right match for your business.
If your business has grown significantly since you …
Building Business Liquidity in Any Economic Cycle
Liquidity is vital to riding our crises and times of financial uncertainty.
Business liquidity during times of instability is vital to longevity and ultimately, to survival. Having liquidity allows a business to continue to meet payroll and fulfill operating costs …
Companies like Cisco have a “Pandemic Response Plan” — Do you?
In a world that is changing more quickly than ever, businesses need a plan when things go sideways. Companies like Cisco have taken the principle of “planning ahead” seriously, ensuring that they don’t have to be worried about the effects …
PPP Compliance Lessons for Smarter Funding Strategy
The SBA Paycheck Protection Loan Program has changed as of today, Friday, April 3, 2020.
Matt Garrett reviews the eligibility requirements, loan terms and fund allocations required for businesses who receive these PPP loans.…
How To Assess Your Customer Base And Sales Metrics
In the fourth and final part of our Boom or Bust series, we are focusing on assessing your sales metrics and customer base to measure performance. The tactics we’ve outlined below are designed to help you mitigate risk, grow your …
7 Smart Financial Strategies for Surviving an Economic Crisis
As the COVID-19 pandemic continues to worsen, finance experts say the global economy is spiraling towards a recession at best. Some also warn that a depression may be right around the corner with unemployment levels we have not seen for …