As a small business owner or entrepreneur, you are more than likely aware that for-profit and non-profit organizations are held to different governmental tax regulations. In broad terms, a for-profit organization is responsible for paying […]
With advances in manufacturing technology and logistics, the ability to create custom products at scale has given businesses the ability to produce more make to order products. While make to stock products may remain the […]
Every employer hopes that their employees are always happy and satisfied with their work and working conditions. But in spite of your best intentions and preparation, employees may have an occasional concern or complaint that they would like to […]
Whether your business sells services, products or both, you know that a normal day includes speaking with many different clients solely to offer them bits and pieces of your knowledge and advice. This accessibility is […]
As a small business owner, you have a lot on your plate. You have to oversee everything from accounting practices to hiring. One of the most critical components of growing your business is your marketing strategy. […]
As a new business owner, you likely find yourself taking on a lot of different responsibilities. You may be dealing with investors in the morning and your marketing team in the afternoon. To be successful […]
It’s somewhat easy to determine if your company is doing well. You’ll be in the black every month, able to make your payroll and pay all of your monthly bills and expenses. But are there discernible levels or observable distinctions […]
In order to get the attention of serious investors, it is important to have realistic financial projections incorporated into your business plan. Projections can be a tricky business as you try to anticipate expenses while trying to […]
You want to trust people. You hired hard-working employees who have glowing references and you believe they are a large part of why your small business is so successful. But what if they’re also the […]
When looking at documents like the balance sheet and income statement, you may come across account terms that you’re not aware of. However, understanding these terms is vital. Doing so will help you better understand […]
Paying your employees on time is a mandatory requirement for any business, no matter the size. However, paying the appropriate amount in payroll deductions could probably tie for first place in a race of importance. […]
The overall success of your business is directly tied to profit and loss. This relates not only to securing enough business to pay your bills and expenses but also has to do with pricing and […]
As a small business owner, managing your expenses can be a full-time job. Juggling receipts, bills and invoices can cause you to drown in piles of paper. However, the importance of keeping your receipts organized cannot be overstated. At the end of the […]
In the course of doing business, there are costs and expenses that are not directly related to creating products or services, but must still be paid on an ongoing basis. These are called “overhead costs” and are […]
With every tax season, many self-employed people and small business owners start to sweat their tax deductions. One of the greatest areas of concern year after year is business expenses and receipt capture. In a recent […]
An income statement, otherwise known as a profit and loss (P&L) statement, is a critical financial document for your business. Income statements produce a clear snapshot of all of your business activities, allowing you to […]
The idea behind lean manufacturing, also called lean production, or just “lean“ is simple: Cut waste out of the manufacturing process while maximizing productivity. No matter what type of business you run, you can still […]
Spending money is a necessary part of building a business. Business owners can attribute many costs to producing or creating a product or service. These are known as direct costs. The expenses that are not […]
Processing transactions cheaply and efficiently shouldn’t be difficult. However, for small businesses, it’s often difficult to find a cost-effective point-of-sale system that offers the features you need without a host of special bells and whistles you don’t. […]
All too often, employee retention is spoken about in vague, jargon-heavy terms. Buzzwords like “company culture,” “engagement,” and “professional fulfillment” are tossed around as if their meanings were clear. The assumption is if your employees […]
Will the start of a new year mean the start of a new business for you? If so you will likely have some questions. Where do you begin? Starting your own business is a large […]
Perhaps one of the most frustrating things about small business management is the seemingly endless list of “statements” you should prepare. And the fact that all kind of sound alike. How is a cash flow […]
Considering all of the information, receipts and files that business owners must gather in order to successfully complete their taxes, it’s no wonder that tax season sends some of them into panic mode. Even more […]
As an entrepreneur, you should be aware that your personal credit can affect your ability to secure a business loan or other types of financing. Many lenders—especially financial institutions—review personal credit scores as part of their decision on whether or […]
Many small business owners suffer from constantly being in “overdrive,” always working at a pace that makes mere mortals seem slow by comparison. And while a fast pace can definitely aid small business owners in […]
If you find you’re suddenly unemployed or at home with your children all day or even just looking for some side income, starting your own home-based business can seem like the perfect choice. But it […]