Examine the balance sheet of most retail or manufacturing businesses, and near the top of the asset list you are going to find inventory. Raw materials, supplies, work in progress, and finished goods are all included in an accountant’s definition of inventory. This...
Attracting new customers requires a great deal of effort so you want to keep them as long as possible once you’ve attained them. One thing that can help keep your customers happy is good communication. You will want to keep your customer in mind at each stage of the...
Following are a few helpful tips to remember when going into business with your spouse. Starting and running a business is rarely a safe or simple process, and doing so with one’s spouse creates an additional layer of complexity. Whether that complexity will...
Many small business owners share one problem, especially in their early days. It’s being over-reliant on a single customer or supplier for much of their business. If you’re in that position, your business is operating with higher risk. Just as with...
One of the first decisions you face as a new business owner is whether or not to incorporate the business. The biggest advantage of incorporating is limitation of your liability. Your responsibility for debts and other liabilities incurred by a corporation is...
