Category: Running a Business

Every small business has some level of working capital, but if you’re unsure of what it is and how it’s calculated, we have you covered. In simple terms, working capital can also be referred to as net working capital. It’s the difference between a company's current assets like what cash they have, accounts receivable/customers' unpaid bills, and inventories of materials and finished goods — and its current liabilities, like accounts payable and debts. How to Calculate Working Capital Working capital… Read More

Equipment breakdown insurance protects equipment, including electrical, mechanical, and computer equipment, from damage or breakdowns as an optional part of a business insurance policy.  If your small business uses equipment — like computer systems, phone systems, refrigeration, or manufacturing equipment — to function, you may choose equipment breakdown coverage as part of your business insurance policy to help keep that equipment running properly and cover any lost income if it breaks down.  It’s an optional selection that can cover the… Read More

Starting and running your own business can be hard. But you don’t have to go it alone. There are lots of terrific resources (some free) to help your small business grow and thrive. Why Small Business Resources Are Important Being a small business owner requires a lot of moving parts from developing a business plan, registering a business, and figuring out the finances to day-to-day operations, marketing and advertising, and so much more. It can be challenging to get it… Read More

What Defines Success in Business? Every entrepreneur goes into business with the highest hopes of it being successful. However, identifying what “success” is could be very individual to you based on your personal goals as a business owner. Is success creating generational wealth? Is it building, scaling, then selling your business to the highest bidder? Is it creating a franchise of your business that will generate passive income for a long time? How to Define What Success Means for Your… Read More

Every year for over 60 years, the U.S. Small Business Administration (SBA) has celebrated National Small Business Week (NSBW). The purpose is to focus on the contributions that America’s entrepreneurs and small business owners make to our economy, culture, and overall business community. Events across the country mark the week, including awards ceremonies and virtual events. Read on to find out more about NSBW and how you can participate.  When Is National Small Business Week? In 2024, NSBW is from… Read More