This is the first installment in our series on starting your small business, securing funding, and navigating taxes. Starting a business is always exciting, but it also has tax implications. So, the business structure you choose matters. A lot. In this post, you’ll learn how to determine if a sole proprietorship is the best structure […]
Running a small business is not for the faint of heart. Regardless of the size or complexity, there’s a lot to consider. As a small business owner, you must manage marketing, inventory, customer service, and many other things. Not least among your concerns is business tax. However, they aren’t always complicated, and some small business […]
Often people think of generational wealth as something for millionaires and billionaires. But your last name doesn’t have to be Rockefeller or Carnegie to help give the next generation a financial leg up. Generational wealth can take many forms, but you must position yourself to accomplish it. Here’s how. Save money That may sound too […]
Some people just have an entrepreneurial spirit. The idea of owning their own business burns within them. And even after they start it, the fire just burns hotter and hotter. If that sounds like you, it is probably just a matter of time before you join the ranks of the self-employed. Of course, that means […]
Sustainability is one of those business buzzwords that creates a lot of confusion. You’ve probably seen it describe everything from how a business approaches social justice to its environmental impact. And let’s be honest, when used in that context, sustainability is a political munition, ready to explode into arguments, eye-rolling, and who knows what else. […]
Employee turnover. Those two words can make any small business owner or CEO cringe. And with good reason! Replacing an employee costs, on average, $4,000 and takes 24 days, according to one Glassdoor study. That study only considered initial costs. Add in long-term costs like lost productivity and the number goes even higher. No wonder […]
If you’re a small business owner, you’ve probably been hearing and reading news about a possible recession in the U.S. economy. Every day seems to bring new speculation, and the headlines grow more and more sensational. So, you should be worried, right? Well, not exactly. We haven’t officially entered into a recession, at least not […]
Businesses have enjoyed over a decade of interest rates that barely registered on balance sheets. Unfortunately, that low interest environment has made it easy to forget what to do when the Federal Reserve does raise rates. Some of you have been there, but it’s been a while. Others may be navigating uncharted waters. Either way, […]
The term gig economy was batted around an awful lot the past two years, and with good reason. The number of workers who made money working on short-term contracts or through freelancing grew by 34% in 2020, according to SmallBizTrends. That trend is only expected to grow as the global pandemic continues to shape the […]
Accounting is one of those subjects business owners tend to ignore. Because, let’s face it, there’s a lot to do as an entrepreneur, and digging into finances can be confusing and scary. But the words of Marcus Lemonis always ring true; if you don’t know your numbers, you don’t know your business. Of course, […]