In a world where entrepreneurship is thriving fast and growing large, there are particular tools for small businesses that need to be utilized to keep up with the competition and achieve success. Small businesses are exposed to higher threats in innovation, market entry, and finances than the larger companies. As such, the enterprises must take advantage of what’s readily available to maximize their profits.
This is a tool designed for cloud accounting. It is free for freelancers, entrepreneurs, and small businesses with at least nine employees. Small businesses can use this tool to track over 60 billion dollars of income.
It comes packed with payment, invoicing, payroll, and accounting solutions. This means small businesses can avoid the hassle of manual entry and connect the app to the PayPal account, bank account, or any other source of data. Wave can be used to generate standard reports quickly, including sale tax reports.
Small businesses need project management software. Asana keeps all ideas, plans, and tasks in one platform, giving everyone view. It also allows users to create multiple projects.
This app helps small businesses track progress, set up tasks, reminders, and to-do lists. Asana is free for businesses with up to 15 employees. If the number goes beyond 15, the entrepreneur can purchase the app for a premium plan.
This app allows co-workers to communicate in one place, allowing more work to be done. Conversations can be organized by projects and topics, among other subjects that matter to a small business. With it, co-workers can create private channels such as general announcements or customer service.
PDFs, documents, and other files can be easily shared. Slack allows team members to call or message each other, share or edit documents, and customize notifications. It has been proven to make work easier and more productive.
The app caters to multiple industries, including media, research, finance, and technology, among others. Users can restrict communication by disabling notifications for certain times of the day to a particular team to avoid distraction.
This is a cloud-based software designed for human resource management. Compliance, payroll, and benefits can all be managed in one place. Zenefits calculates, files, and pays the payroll taxes automatically, ensures employees are paid on time, facilitates new hire reporting, catalogs and details all regulatory deadlines, and sends automatic alerts, allowing the HR team to prepare the necessary documents.
It also confirms employment eligibility. When one of the goals of a business is effective management and optimal productivity, tools for small businesses such as Zenefits are non-negotiable.
This online app streamlines all business accounting needs. Members can log in anytime on Mac, phone, or tablet to view cash flow in real time. Xero keeps everything organized for the taxing period and gives a clear overview of accounts.
For profitable small businesses, Xero is ideal for controlling accounts. It comes enhanced with easy invoicing, inventory items for speeding up invoicing, and time-tracking.
Every growing business needs to implement the right tools to stay ahead of the competition. To focus on the most important tasks and maintain efficiency, it is vital to know and use the right tools for small businesses.