Inflation has reared its ugly head over the last couple of years, and while it seems to have settled down a bit in 2023, forecasters are predicting 2024 will be…
Break-Even Analysis – What and Why?
Break-even is the point when income matches expenses. Knowing your break-even point shows how much revenue you need to equal and surpass expenses. To determine your break-even point, you need…
The Business Plan
A Business Plan is a thorough description of your business, your business goals, and your plans to achieve those goals. A Business Plan is the most important, yet most overlooked,…
Fixed Assets
Fixed assets are items that are used in your business’s ongoing operations for longer than a year. These items should not be “expensed” or shown on the Profit and Loss…
Choosing a Business Structure
There are several different legal structures in which you can form your business. The four main types are listed here: Sole proprietor A sole proprietor is someone who owns an…