Although you may have a minority-owned business, you must meet specific criteria for formal recognition as a minority business enterprise (MBE). And if you meet the criteria, there are business benefits to receiving an MBE certificate.
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Jena Glover
Jena creates informative and useful content for Patriot's marketing department. She began as a Content Writer in 2021.
What Is Sunk Cost, and How Does it Impact Your Business?
Running a business means spending money. And, starting a business means spending money before you begin earning money. That’s where the saying, “You have to spend money to make money,” comes from, after all. The idea of spending money to earn money comes into play with sunk costs. So, what is a sunk cost?
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Marginal Cost Definition: What to Know
Just about everything you do in your business comes with a cost. Whether it’s time, money, effort, or something else, you pay a price. But, what happens when you set a limit for production and have to produce more than your set limit? You encounter what’s known as marginal cost. What is marginal cost?
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The Ins and Outs of a Budget Surplus
If you have more money at the end of the year than you expected, you might think you have a budget surplus. But, is that what a budget surplus actually is? Keep reading to find out what is a budget surplus, the budget surplus definition, and more.
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Accounting Methods: How to Pick the Best Option for Your Business
Accounting can be a daunting task when starting out, especially if you’re not an accountant. And depending on your business, how you must handle accounting can change. So, what are the accounting methods, and how do you choose which method to use for your business’s bookkeeping?
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What to Know About Joint Employment
If you have employees through a staffing agency or share your employees with another employer, you are likely a joint employer. And if you’re a joint employer, you need to know about joint employment.
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How to Calculate Annual Business Revenue 101
Being a business owner means tracking profits, losses, annual business revenue, and more. But beyond knowing how to track these, how do you calculate the figures you need? And, how do you calculate your annual business revenue? Read on to learn the ins and outs of annual business revenue.
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What Taxes Are Added Back to EBITDA?
When learning how to calculate the valuation of your company, you probably learned about EBITDA. The information in the EBITDA formula is important when calculating your profitability and overall financial performance. But earnings before interest, taxes, depreciation, and amortization (aka EBITDA) hit a snag regarding the specific taxes you should include. And, what taxes you […]
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What Is a Separate Legal Entity? A Guide for Business Owners
When you open a business, you decide what business structure you want to have. And, that decision determines what the legal requirements are for your company. But, is your business a separate legal entity (SLE)? And, what is a separate legal entity?
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Small Business Grants: What to Know Before Applying
Whether you’re a startup or have been in business for years, you may be considering applying for outside funding. This could include receiving small business loans, obtaining investors, or applying for grants. Small business grant funding can be the most complex, but most desirable, option. So, what are small business grants, and what should you […]
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