Knowing the market price for products or services is key to knowing how to get a deal, increase sales, and grow your business. And when it comes to running your company, you likely participate in different markets to provide your goods or services. Depending on your offerings and industry, your business’s market price may vary. […]
Read More What Is Market Price? Pinpointing Where Supply Meets Demand
As an entrepreneur, you need to have a plan in case you have to close your business. Perhaps your business can’t pay its debts, or maybe you want to retire. Regardless of what happens, you should be aware of one of your options for closing your business: small business liquidation. What is liquidation?
Read More What Is Liquidation? | Small Business Liquidation
When it comes to forming a business, there are a number of business structures you can choose from. Your structure can determine how you handle taxes and which forms you need to file. One business entity you can choose is an LLC. So, what is an LLC?
Read More What Is an LLC, and How Do You Form One?
As a small business owner, you might owe money to vendors, employees, and the government. You need to keep track of your business’s debts in your accounting books. When it comes to recording the money you owe, mark your debts as liabilities. What are liabilities?
Read More What Are Liabilities?
At some point, you may consider going public if your business is private. When you “go public,” you go through an IPO process. So, what is an IPO? Read on to learn the ins and outs of an IPO, what the process entails, and the pros and cons of going public.
Read More What Is an IPO? The Process of Going Public
Your roof starts leaking. So, you hire a contractor to put in a new one. At the end of the job, you receive a piece of paper (an invoice) from the contractor billing you for their services. And if your business sells goods or services to customers and doesn’t collect money immediately, you’ll also have […]
Read More What Is an Invoice? That’ll Be $400, Net 30
Unless you own a service-based business, you likely have inventory. Knowing how much inventory you have is crucial for managing accurate small business accounting books, ordering new stock, and making pricing decisions. So, what is inventory?
Read More What Is Inventory?
As a business owner, you likely borrow money to help fund your startup. And when you need a business loan, lenders typically charge you interest. So, what is interest?
Read More What Is Interest?
If you’re like many small businesses, you account for company assets that you can see and touch. But, what about the items of value that aren’t physical? You may be undervaluing your business by forgetting your intangible assets. What are intangible assets?
Read More What Are Intangible Assets?
As a business owner, you might need to hire a worker at some point or another. And depending on your type of business, you might need to hire employees, independent contractors, or both to get the job done.
Read More What Is an Independent Contractor?