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?
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
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?
At some point or another, you may decide to incorporate your company. Like many things in business, incorporation has its advantages and disadvantages. Read on to learn the pros and cons of incorporating a business to determine if it’s a good fit for your company.
Read More What are the Pros and Cons of Incorporating a Business?
As a business owner, you calculate a variety of figures to determine your company’s financial health. One of these figures to keep on your radar is gross margin. Read on to learn what is gross margin and how it can help you set prices for your goods or services.
Read More Gross Margin Definition, and How Can it Help Determine Profitability?
When it comes to accounting, you must follow certain rules for recordkeeping or tax reporting. Otherwise, you may wind up making mistakes and costing your company money (and nobody wants that). Many businesses must follow a set of accounting guidelines called GAAP. But, what is GAAP exactly? And, how do you know if you have […]
Read More Your Guide to GAAP (Generally Accepted Accounting Principles)
When you own a small business, you make decisions to protect your company. Throughout the life of your business, you might need to seek advice or help from professionals. In some cases, you might entrust a fiduciary to manage assets or provide business advice.
Read More What Is a Fiduciary?
Transactions between two parties can be tricky business. As a small business owner, you need to make sure that things like selling tangible and intangible assets goes smoothly. You might consider using an escrow agent to help. So, what is escrow?
Read More What Is Escrow, and Why Should a Small Business Owner Know About It?
As a business owner, you might offer a variety of benefits to your employees, including health insurance and retirement plans. One option you can offer employees is an employee stock ownership plan (ESOP). Along with other benefits, ESOPs are growing in popularity for small businesses. According to the National Center for Employee Ownership (NCEO), as […]
Read More Employee Stock Ownership Plan: How Can It Benefit Your Business?