Category Archives: Finance

Why a 10% Profit Margin is the New Breakeven for Small Businesses

Starting a small business is no easy task. It takes hard work, determination, and most importantly, a sound business plan. Too often, small businesses fail because they are not profitable enough to stay afloat. To ensure the longevity of your small business, it is important to aim for a 10% profit margin. This number may

How to use your profit and loss statement to make better business decisions

Profit and loss statements, or P&Ls, are essential financial reports for all businesses. The profit and loss statement is a proof of your business model because it shows how well your expenses and costs are covered by your revenues. The report also breaks down the company’s expenditures by category, such as cost of goods sold,