Small Business Best Practices

Small steps today. Big success tomorrow.

Your business is on a unique path—following your vision from start-up to success. As you navigate this journey, your passion and dedication keep you moving forward. SunTrust can help you go even further. Our Small Business Best Practices Guide covers six important areas of financial management for small business owners. Each part of the guide includes a straightforward checklist of best practices. Implementing these steps will give you greater confidence and success as your business grows and changes over time.

Starting Your Business

Before starting your business, it's imperative that you create a business plan and a financial plan. Establishing the right financial practices at the outset will form a strong foundation and help you avoid unnecessary expense and hassle down the road.

Controlling Cash Flow

Avoid surprises by staying on top of your business cash flow. Good practices here can lead to positive discussions when you’re working to grow your business in the future.

Increasing Profitability

Even the most experienced business owners should always take the time to evaluate how the business is going. It is likely you'll find something you can change to improve your business.

Growing Your Business

Whether you're ready to grow your business now or in the future, every business owner should prepare for growth and understand financing options.

Protecting Your Assets

Ongoing risk management practices are necessary to protect your business and personal assets. Talk with your CPA, attorney, banker and technology provider to determine which specific steps are right for your business.

Planning for Business Transition

As you think about potential business transition, it's important to have a realistic exit, sale or transition plan well in advance. This will minimize surprises and help you realize the maximum value for your business.

female bakery shop owner studying charts and graphs with tablet
 

Your Business Can Thrive Today and in the Future.

We're here every step of the way to offer banking guidance and advice.

DISCLAIMERS

SunTrust Bank and its affiliates and the directors, officers, employees and agents of SunTrust Bank and its affiliates (collectively, "SunTrust") are not permitted to give legal or tax advice. While SunTrust can assist clients in the areas of estate and financial planning, only an attorney can draft legal documents, provide legal services and give legal advice. Clients of SunTrust should consult with their legal and tax advisors prior to entering into any financial transaction or estate plan. Because it cannot provide legal services or give legal advice, SunTrust’s services or advice relating to “estate planning” are limited to (i) financial planning, multigenerational wealth planning, investment strategy, (ii) management of trust assets, investment management and trust administration, and (iii) working with the client’s legal and tax advisors in the implementation of an estate plan.

Small Business Resource Center

  • Infographic: Pick up the Payments Pace

    Timely customer payments are essential to keep your cash flow healthy and allow you to meet today’s financial obligations. A few simple steps help you speed along your customer payments and keep your business flush with the cash you need to operate.

  • Infographic: Status Check: Is Your Business on Track?

    Every small business is unique, but you may be wondering where you stand in relation to others. Learn how your company’s growth, marketing tactics and tech savvy compare to your peers.

  • Managing Cash Flow: Critical to Growth

    Optimizing your business’s cash flow is more than just monitoring sales; it’s having a full picture of all of your expenses, your investments and your money on hand.

  • On the Hunt for Cash Flow

    Managing working capital and keeping tabs on cash flow are imperative to business success. Proficiency in the cash flow cycle can help improve business stability.

  • Approach Lending Options with Confidence

    While the fundamentals of a strong business are important on a credit request, the intangibles are equally as important. Telling your business narrative, professional documentation, and working relationships also play into credit-worthiness.

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