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
Category Archives: Finance
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,
In order to have a successful growth journey, you need to manage your cash flow effectively. This means ensuring that you have enough money coming in to cover your expenses, making sure that you don’t run out of cash prematurely, and hopefully fund future growth with profit. There are a few different things that small