ACCC Helps Small Business Owners Manage Their Finances

American Consumer Credit Counseling celebrates Small Business Week with tips on how to manage finances

Boston, MA – May 17, 2019

Tips for Small Business OwnersStarting a small business is exciting – but it also takes a lot of work and organizing. Each year, Small Business Week recognizes the critical contributions made by the nation’s entrepreneurs and small business owners. In observance of Small Business Week, national nonprofit American Consumer Credit Counseling (ACCC) offers tips on how small business owners can manage their finances.

“When starting a small business, it is important to be organized as it can be a daunting process,” said Steve Trumble, President, and CEO of American Consumer Credit Counseling. “Small business owners are the backbone of our economy as they create local jobs, contribute to the local government through taxes and provide a personalized customer experience.”

According to the Small Business Administration, there are 30.2 million small businesses in the United States. There are 58.9 million small business employees who make up 47.5 percent of the entire U.S. workforce.

But thousands of small businesses face common problems every year. This includes cash flow, high overhead, too much inventory, and low-profit margins. Other problems can be more associated with tax compliance, changes in government regulation or uncertain economic conditions.

ACCC helps small business owners manage their finances.

  1. Establish expenses – Financial planning is the key to success. Small business owners should make sure that their business has the resources and budget to sustain itself. They need to establish how much money they need for start-up costs, operating expenses, and other financial considerations
  2. Separate business and personal finances – Whether this is a full-time career or a side gig, small business owners should separate their finances. Open a business account to avoid blurring the line between personal and professional equity. Two active accounts help reinforce an independent budget and separate financing.
  3. Track every penny – As most small business owners know, money can get tight. Take steps to track every expense to avoid going over-budget. Small business owners should evaluate their budget monthly and identify how they can improve. At first, they may spend more than they earn. But, if negative cash-flow is consistent, it is important to consider seeking financial help.
  4. Seek a mentor or financial coach – Financial organizations are great resources to help small business owners. They will equip owners with the knowledge to make sound financial decisions. Small business owners should not be afraid to ask for the help needed to thrive.

ACCC is a 501(c)3 organization that provides free credit counseling, bankruptcy counseling, and housing counseling to consumers nationwide in need of financial literacy education and money management. For more information, contact ACCC:

  • For credit counseling, call 800-769-3571
  • For bankruptcy counseling, call 866-826-6924
  • For housing counseling, call 866-826-7180
  • Or visit us online at

About American Consumer Credit Counseling

American Consumer Credit Counseling (ACCC) is a nonprofit credit counseling 501(c)(3) organization dedicated to empowering consumers to achieve financial management through credit counseling, debt management, bankruptcy counseling, housing counseling, student loan counseling and financial education concerning debt solutions. To help consumers reach their goal of debt relief, ACCC provides a range of free consumer personal finance resources on a variety of topics including budgeting, credit and debt management, student loan assistance, youth and money, homeownership, identity theft,  senior living, and retirement. Consumers can use ACCC’s worksheets, videos, calculators, and blog articles to make the best possible decisions regarding their financial future. ACCC holds an A+ rating with the Better Business Bureau and is a member of the National Foundation for Credit Counseling® (NFCC®). For more information or to access free financial education resources, log on to or visit