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,…
What are Financial Statements and Why Do I Need Them? The Balance Sheet
Many business owners think the terms Income Statement and Financial Statement are interchangeable. The Income Statement is indeed one part of a Financial Statement package, but owners should know there…
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…
Starting a New Business
Starting a business can be one of the most exciting things you do in your life. You have a great idea and you have figured out a way to make…