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.
Read More Minority Business Enterprise and MBE Certificate: Your Guide
Do you know how your business is performing this year compared to last? No? Calculate year-over-year growth to find out.
Read More How’s Your Business Doing? Calculate Year-over-year Growth to Find Out
You know that spending less on business expenses like supplies and inventory can help you maximize your business’s profits. You can’t just eliminate those expenses; otherwise, you wouldn’t have anything to sell. But, you can possibly reduce how much you spend through wholesale buying. Wholesalers supply businesses with products in large quantities. Businesses that buy […]
Read More A Guide to Start Buying Wholesale for Small Business
When it comes to pulling reports, establishing a business budget, and filing taxes, you need to know your company’s fiscal year. So, what does a fiscal year mean, exactly? When does the fiscal year start? And, how long is a fiscal year? Read on to get the answers to these questions and more.
Read More What Is a Fiscal Year for Your Business and Books?
As a small business owner, you need goods to operate. Your inventory is an essential organ in the anatomy of your business. The tools you use and the merchandise you sell help you accomplish daily goals, and ultimately grow your company.
Read More What Is a Vendor? Overview for Small Business Owners
When you create a simple chart of accounts, you might assign a group of numbers to each account category. Assets might use the 100s, liabilities might use the 200s, and so on. There are specific accounts within each category. You will assign each account a more specific number within its category. For example, cash is […]
Read More What Is a SIC Code?
When you invest in an asset for your small business, you want it to eventually turn a profit. But, how do you measure the profitability of your investments? You can use return on investment (ROI) calculations to see how much income your assets generate.
Read More ROI Meaning: What Is Return on Investment (ROI)?
To grow your business, you need to track financial information and measure performance. One metric you should be keeping an eye on is your business’s profit margin. Read on to learn how to calculate profit margin for your company and ways to improve your margins.
Read More How to Calculate Profit Margin for Your Small Business in 3 Simple Steps [Formula]
Sometimes, it’s hard to tell whether your business is operating efficiently, especially when money is constantly coming in and going out. You need to know if your business is making a profit or losing money. One way to gain insight into your financial strength is by reviewing your net worth. What is business net worth?
Read More What Is Business Net Worth?
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