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Best ways to reinvests business profits
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[QUOTE="Jasz, post: 243742, member: 61772"] There are many ways to reinvest business profits, but the best ways depend on your company's goals. If you believe that your company is going to be growing and expanding in the coming months and years, you'll likely want to focus on reinvestment methods that help facilitate this growth. This might mean putting money back into marketing to generate more leads, or hiring new employees so you can raise production rates. Another way to reinvest business profits is by paying down debt. This can help protect your company from worse financial trouble down the road if things take a turn for the worse. Another option could be to put your business profits into investments so that they're protected and not vulnerable to market downawhile. Invest in marketing - Do some research and come up with a marketing plan for the coming year. This can mean anything from investing in SEO strategies to hiring a freelance marketing consultant to help get the word out about your business. Set aside funds for taxes - The government will likely want some of that profit, so be sure to set aside enough money each quarter to cover the taxes you'll owe on it when tax time comes around. Invest in your employees - Your employees are what make your company run smoothly day after day, so make sure they're happy. Offer bonuses or raises, invest in training and development opportunities for them, or even just go out of your way to show them how much you appreciate their hard work by sending them a thank-you note once in awhile. [/QUOTE]
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