Whether you’re a sole proprietor or own a thriving small business, preparing a business budget is sound financial management. While static budgets, or budgets that don’t change, can be helpful, preparing and using a working budget can be much more useful for small business owners, allowing them to make adjustments as they go along…
The holiday season is important for most industries, but for retailers, it can make or break their entire year. Thousands, and sometimes millions, are spent retaining existing customers, attracting and retaining new customers and possibly taking a few customers from competitors. Many retailers use traditional methods of paid advertisement…
If you’re a business owner and you’re surviving — congratulations, you’re one of the few.
As of mid-August 2020, about 98,000 small businesses in the US have closed permanently, according to data compiled by Yelp…
Zero-based budgeting is a way to wipe the slate clean. Frequently used in tandem with a strategic plan, zero budgets help businesses align their goals to their expenses, removing any expenses that don’t fit in their plan.
Learn more about zero-based budgeting, its advantages, and disadvantages, and see if this approach may be right for your business…
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…
There are many ways a company's reputation — and thus its business — can take a hit, from a publicly shared controversial opinion to a major data breach to poor customer service.
A company's performance and success used to be viewed in terms of tangible assets, like product output, said...
Many great business owners are always on the lookout for new business tax write-offs. There are many tax deductible expenses that are straightforward. Items such as depreciation, interest, and cost of goods sold. These expenses happen in the normal course of business and show up on your business tax return on the income statement.