First things first, what is an asset? An asset is a resource that your company owns that is used for a function of your business operations. It can be something tangible (vehicle, furniture, equipment, etc.) or intangible (goodwill, intellectual property, patents, etc.). Assets will always have a useful lifespan of greater than one year, and they may or may not go up in value. For example, buildings and land usually go up in value, but the large piece of machinery you have in the shop will likely decrease in value.
What kind of relationship do you have with your bank? Do they just hold your money and that’s it? It’s time to take your relationship with your bank to the next level. Having a good relationship with your bank, beyond the average everyday relationship, can be beneficial to your business in ways you may have never thought.