Category: Business Finance

Charitable Donations and Business Taxes: Learn About the Guidelines for Giving Back

Illustration showing raised hands with hearts to portray charitable donations for business.

By making a charitable contribution, your business can help people in need while potentially reducing your tax burden. However, there are rules and restrictions you should consider before contributing your money to a cause. From your corporate structure to the nature of your donation, here’s a primer on what you should know about tax-deductible charitable… Read more »

A Small Business Partner: Success Stories

Photo collage featuring five of Minster Bank's small business partners.

When you’re starting a business or looking to expand, you need a bank who loves your business as much as you do. Below, we’ve curated 10 snippets of a few of our success stories through the years. Keep reading to hear why these customers chose Minster Bank and why they continue to bank with us… Read more »

Where Everybody Knows Your Name: Troy Salon & Day Spa and Minster Bank

Front of the Troy Salon & Day Spa building in Troy, Ohio.

Char Bruggeman has been running Troy Salon & Day Spa for almost 10 years, and she says Minster Bank’s personal service is what sets them apart and kept her with Minster Bank all these years. “I love every one of them there,” she said. “When I walk in, it’s so homey because everybody calls you… Read more »

4 Questions That Can Help Reduce Employee Turnover

Two employees communicating about strategies to reduce employee turnover at their small business

Did you know the cost to replace an employee can be thousands of dollars? If you don’t want to spend that kind of money – and who does? – it’s key to keep the employees you already have. While some turnover is expected, taking action now will go a long way toward keeping your company… Read more »

Should I Outsource or Hire a Bookkeeper?

Woman works as a bookkeeper for a small business checking the accounts.

Bookkeeping is the daily process of keeping records of all of a company’s financial transactions. A bookkeeper records the expenses, sales, and bank and cash transactions of a business in a general ledger, the accuracy of which is of the utmost importance come tax season. Depending on the size of your business and the number… Read more »

Why You Need to Update Your Business Plan

Female entrepreneur reviews her small business plan on her laptop and writes notes to update.

When you drafted your business plan, you outlined your goals and the path you’d take to achieve them. Now that your company is up and running, your business plan might not be an accurate representation of your new goals, the state of the market and your enterprise’s worth. Your business is a living, breathing entity… Read more »