So you’ve decided to start a small business? It’s an exciting time and it’s going to require all your commitment to make it a success. But remember that it doesn’t have to be funded solely by you, or by way of a bank loan. If you want to ease some of the financial strain of […]
For any small business owner, success comes from generating a profit. And generating a profit requires you to set fair prices that more than cover all the costs involved in manufacturing or purchasing the products you sell. Calculating your ideal selling price requires you to understand the true costs involved in purchasing or manufacturing your […]
Being outstanding at delivering the products and services your business is known for is great – but it’s only part of the picture. The future health and growth of your business depends on making smart decisions based on solid information. To drive your business forward, you will need to: Have a plan. Whether it’s to […]
Put simply, an invoice is a way of listing products and services which a business has supplied to a customer. It itemizes those products and services, and their costs, and creates an obligation for the customer to make payment. Creating invoices is a vital practice for small businesses, as they are the means by which […]
Yes! The government requires banks to report all cash deposits greater than $10,000.
Devaluation is the value of an asset to a business over the useful lifetime of that asset. There are three ways to calculate depreciation, but in essence, it is the cost of the asset, minus its salvage value, divided by its useful lifetime.
When written on an invoice, “net 30” simply means that the customer has 30 days from the date of the invoice in which to make payment. If, for example, “net 30” is written on an invoice dated March 1st, then payment is due on or before March 30th. Net 30 is not the only option […]
For small and midsized businesses (SMBs), a healthy financial situation can be make or break. Unlike larger businesses, smaller enterprises often have fewer resources or less resilience to resist external pressures, such as disrupted supply chains or economic uncertainty. Therefore, assessing all aspects of your business to identify areas for improvement is crucial to reduce […]
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