However your fortunes fared in 2020, you probably have a different perspective on running a business than you did this time last year. Of all the lessons learnt, one of the biggest has to be the importance of cashflow to survive a crisis, and build a stable future, and be ready...
A credit limit is the total amount of money that can be charged to a credit card, whether in the form of purchases, interest charges or fees. Every credit card comes with its own credit limit, and lenders generally determine these limits based on credit scores and other indicators of creditworthiness. Your credit limit might be $500, $1,000, $5,000 or more — but no…
Writing a business plan for your small business should be one of the first steps you take when a business idea pops into your head. This is how you’ll discover whether your idea can actually be a profitable business. Lenders will want to know the business you plan on starting will...
With a large tub of ice cream in my lap, I watched The Avengers a few nights ago (I’m rewatching all of the Marvel Cinematic Universe movies in release date order.) I nearly dropped my spoon in excitement when I heard Black Widow mention an accounting concept, the one we’re talking about today…
A family budget is a delicate thing to balance, even without a pandemic crashing through and jumbling your finances.
In a chaotic year like this, with the country dealing with a recession, ugly unemployment rates, political tensions and new waves of the coronavirus, you’ll need to arm yourself with some...
If you run a data-oriented company, you have clear key performance indicators (KPIs) and objectives and key results (OKRs) that you review personally or with your team on a monthly, quarterly or annual basis.
These are typically run-of-the-mill data points: customer retention rate, operational cash flow, profit margin and more....
A budget variance is the difference between the amount budgeted for revenue and expenses and the actual amount received or expended. Budget variances can be favorable (more revenue) or unfavorable (higher costs).
Learn more about budget variances and how they can help you create a more accurate budget for your small business…