Cost of Goods Sold
Your cost of goods sold (COGS) is the costs directly related to purchasing products for resale, manufacturing products to sell, or providing services. Your COGS is documented on your income statement and used to...
Author: Workful Team
How to Register Your Trade Name
Your business name should reflect the business you’re in. Sometimes, you want to operate under a different name than your legal name. That’s where a trade name, also known as a “doing business as”...
How to Set a Budget for Your Business
Your small business needs a budget to help you plan ahead and decide how you’ll spend your money. Without a budget, you run the risk of either spending more than you make or not...
Influencer Marketing
Influencer marketing involves using people with large and organic audiences to share your products. An influencer is someone who affects the actions and behaviors of their audiences through blog posts and social media content....
Is Your Culture Hurting or Helping Productivity?
Your company’s culture will influence every aspect of your employees’ workday – from how they spend their time to how they make decisions. An overly competitive culture may put unnecessary strain on your workers,...
9 Funding Sources for Your Small Business
It can be expensive to start a business, so it’s important to know your funding options before starting. When considering what type of funding is right for your business, consider a few questions: How...
HR Basics: 4 Things You Need to Know
Human resources (HR) is one of the most complicated aspects of running a business. It’s also one of the most important because salaries and benefits make up a large portion of your operating expenses....
5 Tips for Conducting an Effective Exit Interview
Sadly, good employees leave sometimes. When a member of your small business team quits, an exit interview can help you learn why. Although it can be difficult to hear criticism, you gain valuable information...
Income Tax Forms for Your Small Business
This article was last edited on 12/20/2019. For updated information on small business income tax forms, visit https://www.irs.gov/businesses. Federal income tax is a pay-as-you-go tax, so you’ll need to pay it as you earn income throughout the year. As an...
9 Payroll Terms You Should Know
Once you hire your first employee, it’s time to start running payroll. There’s a lot that goes into paying your team. Keep reading to learn nine terms you’ll likely encounter when writing paychecks. 1....