Category: Running a Business

Profit and Loss Statement (P&L) Definitions & Examples

Profit and Loss Statement (P&L) Definitions & Examples

A profit and loss (P&L) statement is a report that details a company’s revenue and expenses over a period of time (usually a quarter or fiscal year). The profit & loss statement, also called the income statement, shows whether a company lost money or made a profit during the reporting period.  Let’s explore what a P&L statement means for your business, why you need one, a profit and loss statement example, and three free templates you can use to create… Read More
6 Tools to Set Your Business Up for Success in 2022

6 Tools to Set Your Business Up for Success in 2022

There are multiple factors that contribute to the overall success of a business, and while some of them are directly tied to your effectiveness as a business owner– motivational level and overall attitude and acumen, for example – many others depend on how you leverage resources to maximize efforts and increase productivity and organization. In today’s diverse workplace, that often means incorporating tools and apps that make working easier and smarter. Fortunately, there are a variety of easy-to-access and affordable… Read More
The 9 Small Business Conferences You’re Missing Out On in 2020

The 9 Small Business Conferences You’re Missing Out On in 2020

If you ask small business owners about their favorite ways to grow their sales and get new customers, they almost always include networking somewhere on that list. That’s because it’s just that effective. But sadly, networking opportunities and small business development efforts can be pushed aside in the busy day-to-day of running a business.  That's where small business conferences can come in. While they can be an efficient way to get industry insights, learn skills, or find vendors, it's the… Read More
Getting Your Small Business Out of Debt

Getting Your Small Business Out of Debt

Business debt can be a tool for growth, but when it gets to be too much, it can also prevent a business from taking advantage of opportunities to grow.  The Experian Oxford Economics Main Street Report Q2 2023 notes that “commercial lending remains open to small businesses,” this year, but small businesses face increasing pressure as interest rates have risen. “A decision to pay some creditors more slowly and hold onto capital longer will continue to increase delinquency rates across… Read More
7 Ways to Make Your 2024 Taxes Easier

7 Ways to Make Your 2024 Taxes Easier

As a small business owner, taxes are probably one of those tasks you try not to think too much about until you have to. There are steps you can take throughout the year to make tax filing easier, and the sooner you get started, the more smoothly your filing season will go.  1. Determine How Frequently You Need To Pay Taxes If you’re a small business owner or are self-employed, there is a good possibility you need to pay quarterly… Read More
Bank of America vs Chase — Which Is Better for You?

Bank of America vs Chase — Which Is Better for You?

Having a business checking account seems like a given for any small business owner. Part of separating your personal and business finances simply has to involve a business checking account, along with applying for and using new sources of credit. While a business checking account can’t usually offer the rewards of business credit cards, it is vitally important. Unfortunately, not having a business checking account isn't just inconvenient, it could also spell bad news for your business.  In a survey… Read More