Tag: Finances
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Common Challenges Small Businesses Face
Small businesses face a variety of common challenges that can impact their operations and success. These challenges can vary depending on the industry, location, and specific circumstances of the business, but some of the most common challenges include: Financial Constraints: Small businesses often have limited financial resources, making it difficult to secure funding for startup […]
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Common Errors in Tax Preparation
Mistakes can happen when you’re preparing your taxes, even with all the technological automation on hand. A good way to avoid the oversight is to keep a list of common errors that can happen when making your report. •Assuming the wrong due date•Confusion over the most advantageous filing status•Not claiming the Earned Income Tax Credit•Failing […]
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How to Increase Profits for Small Business
Running a small business is an adventure, and every journey comes with its own set of problems. According to a 2019 “Small Business Credit Survey” conducted by 12 Federal Reserve banks, while a slim majority of small businesses reported revenue gains in 2018, a whopping 73 percent reported an increase in operating costs as well, […]
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Accounting Terms: Profit VS Profitability
Are they the same? What is the difference between Profitability and Profit? Two accounting terms that every business owner encounters. Although they may look similar, they are not entirely the same. Both are accounting metrics used in analyzing the financial success of a business. Accounting Terms Definition Don’t confuse the two accounting terms. Profit is […]
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Great tips to have a successful launch to your Startup
Launching a startup is one of the most exciting things anyone could do as a budding entrepreneur. The road to success as a small business owner is rough—but it is absolutely worth all the effort. Taking off from an idea and letting it grow into a company is difficult and is a struggle in itself. […]
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How to Manage Small Business Finances
Entrepreneurs and business owners want one thing—and that is to succeed. They have strong mindsets for running a business and have many goals to keep in mind as they operate. Although some of them may have a knack for numbers, others prefer focusing on other aspects of the business rather than spend too much time […]