August 24, 2021
INDIANA CONTINUES TO RANK AMONG BEST STATES FOR BUSINESS

As economic uncertainty shakes up the country's corridors of power in Washington, D.C., Indiana remains firmly on the ground as one of the best states for business. Midwestern values, work ethic and strong leadership contribute to the Hoosier state's continued recognition as a bright spot in the business world.
 
Just last month, Indiana ranked in the top 20 on CNBC's list of America’s Top States for Business 2021. And for the sixth year in a row, Chief Executive magazine placed it high on its list, in the number five slot. 

BACK TO SCHOOL, BACK TO BUSINESS

By Lindsey Anderson, CPA
Manager, Tax Services

August is usually a slower time for business, as parents shift their focus toward getting their kids ready for the return to school. While they shop for class supplies and recalibrate their personal schedules, you should also consider what your focus should be as a business owner. Now that we're more than halfway through 2021, it's time to take a step back and think about how you can successfully close out the year, given your current business conditions.
 
It's always better to be proactive than reactive. Take this time to make contingency plans as you continue to navigate COVID and the ever-evolving economy around it. How will you deal with labor shortages and supply chain disruptions? Will you limit the products and services you offer? Where will you cut costs to handle higher inflation and wage rates? Is there elasticity in your marketplace to increase your prices?

MENTORS DO MATTER

By Tom Sponsel, CPA/ABV, CFF
Managing Partner
 
Graduating from college and landing a job in the business world only means your education is just beginning, now in the REAL WORLD. You will quickly find that your new job demands a lot of "new things" that were never discussed in any classroom. You may quickly find that you need a resource, someone behind the scenes to help show you the ropes. That resource may be a mentor who can make a difference in your pace of learning. Some mentorship programs are formal while other mentor relationships just grow out of working with more senior people in your organization — they have "been there, done that."
 
It's important when you're starting out in your career, but also as you climb the ladder of increased responsibility, to connect with the seasoned managers who are willing to help you see what all you can be. Their life experiences have given them a long-term perspective in a world of "I want it now." That sense of perspective ("It will be OK") can assist you when you are most frustrated and on the edge of despair in your career. Be receptive to feedback and advice from everyone, but accept it with discerning ear. 
Welcoming a New Team Member!

Sponsel CPA Group is pleased to welcome Natalie Tumbas to our team this week. She just started yesterday as a Staff Accountant in the Audit & Assurance Services department. With her multiple degrees in accounting and wealth of professional experience, we look forward to working with her!