Small Businesses Face More Fraud in Downturn -WSJ
Cash-squeezed privately held companies are facing another threat in this struggling economy: rising employee fraud.
Employee fraud -- from check-forgery schemes to petty-cash theft -- tends to rise during tough economic times, when workers are feeling financial pressure in their personal lives, experts say. And small companies are especially vulnerable because they often lack stringent internal controls to prevent fraud. Sometimes, managers at affected companies attribute lost funds to lower sales -- never even suspecting
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Business planning is one of those "nice to have" things for executives. Most say business planning is a good thing, but yet only a small percentage report doing it on a regular basis, especially executives in small and medium businesses. If business planning is done well it can be a worthwhile investment and can actually help prevent the fires from popping up in the first place. The trick is to learn from those that do