Back to Basics: Income Statement
An income statement, also called a profit and loss statement, shows all your revenue streams and expenses over time so you can calculate your net income. It shows how much money your company will...
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Back to Basics: Balance Sheets
A balance sheet is a snapshot of your company’s assets, liabilities, and net worth at a specific point in time. Balance sheets are usually prepared at the end of a month, quarter, or year,...
Back to Basics: Gross Profit & Gross Profit Margin
When you’re analyzing your company’s financial health, it’s essential to pay attention to your gross profit and gross profit margin. Gross profit Your gross profit indicates how much money your company makes after deducting...
4 Tax Deductions You Don’t Want to Miss
When you’re first starting your business, every penny counts, so you definitely don’t want to overpay your taxes. It’s easy to overpay your taxes by not taking advantage of tax deductions available to small...
Why Hiring the Right People Matters
Employees are your most valuable asset and can affect whether your business will succeed. It’s essential to hire the right people who will help your business grow and reach its goals. Every new worker...
Back to Basics: Cash Flow Statement
A cash flow statement shows you how much cash comes in to and goes out of your business over a specified period – usually a quarter or a year. It shows how much money...
How to Hire Qualified Employees
When your business grows to the point that you can’t handle everything yourself, it’s time to hire help. How do you find and hire qualified employees who are willing to work for you? Keep...
10 Steps to Starting Your Own Business
Starting your own business takes time and planning. When you’re ready, read this step-by-step guide to starting your own business. Step 1. Write a business plan A business plan is a roadmap to your...
6 Ways to Promote Your Business
Promoting your business is essential for attracting new customers, increasing sales, and enhancing your company’s reputation. There are a lot of ways to publicize your business, so it can be overwhelming to choose what’s...
Back to Basics: Working Capital
Working capital is the cash your company has available for its day-to-day operations. Having enough money to function is particularly important during the startup phase of your business. It’s a good idea to keep...