Bookkeeping For Us (BFU) is passionate about helping small businesses establish their finances. We serve:
first-generation entrepreneurs
first-time entrepreneurs
young entrepreneurs (under 18)
family-owned businesses
minority businesses
creatives/influencers
About
What do we really do at BFU?
Bookkeeping For Us (BFU) provides standard, GAAP compliant bookkeeping for small businesses/startups across many industries as well as unique Pass-On Services to support business autonomy, business stability, business transparency and those looking to decrease long-term costs.
What is a Pass-On Service?
BFU’s services go beyond just regular bookkeeping. Our Pass-On Services help establish first-time business owners' finances and induce business longevity by providing a comprehensive step-by-step accounting handbook for setting up and continuously managing business financials.
The accounting handbook provides guidance on all of the financial policies and standard accounting processes of the business.
This benefits business owners that are more DIY-natured, will help decrease first-year startup costs, long-term costs, and establish strong financial processes that are sustainable enough to last through many business phases and be passed on through many generations.
Stats are Facts
We understand that minority communities and first-time entrepreneurs face strong challenges in the beginning of their entrepreneurial journey. We believe that our "pass-on" services lay the foundation for business stability and generational wealth. Take a look at some of the stats that inspired our approach:
FACT: Only about 20% of small businesses are owned by minorities1
FACT: 18% of small businesses fail within their first year, while 50% fail after five years and approximately 65% by their tenth year in business2
FACT: 82% of small businesses fail due to cash flow problems3
FACT: 89% of small businesses say they are more successful with an accountant than without one4
References:
NAWBO Expert Reviews. “What Percentage of Businesses are Small Businesses?” NAWBO.org. Feb. 9th, 2024, https://nawbo.org/expert-reviews/percentage-of-small-businesses/.
Team, C. O. C. (2024, July 24). Small Business Statistics - Chamber Of Commerce. Chamber of Commerce. https://www.chamberofcommerce.org/small-business-statistics/
Sutter, B. (n.d.). The #1 Reason Small Businesses Fail - And How to Avoid It. SCORE. https://www.score.org/resource/blog-post/1-reason-small-businesses-fail-and-how-avoid-it
Brown, E. (2024, June 28). 2019 Small Business Finance and HR Report. OnPay. https://onpay.com/hr/basics/2019-small-business-finance-hr/
