There are many versions of accounting software available to small business owners, but accounting is only one aspect of recordkeeping. Word processors, databases, spreadsheets, and all sorts of graphics can aid you in managing the financial and clerical aspects of your business.
There is probably no area of greater confusion to the self-employed businessperson than the [...]
As a business owner, you should deposit all business receipts in a separate bank account. If possible, you should also make all disbursements by check. In regard to all business entities, with the exception of corporations, a disbursement from the business account is not necessary to qualify the expenditure as a business expense. A check [...]
Economic recession - Turning Loses Into Profit
Economic recession as a term is pretty common. What does this term mean to the economy, to the country, to you? Normally when the GDP of a country stagnates or recesses for over six month consecutively, economists and the National Bureau of Economic Research (NBER) would label the period [...]
With interest rates falling, it might be the perfect time to see if you can benefit from refinancing your house. If your mortgage is more than 5 years old, chances are your mortgage is high compared to the rate you may be able to get today. Also, the possibility is good the price of your [...]
In today’s world, the usage of internet has become so extensive that almost 1 out of 5 person (20%) in the world uses internet, and the number continues to grow rapidly. That leads to the emergence of e-commerce with a stunning growth rate since the last decade. Billions of dollars is spent over the internet [...]
I’m often asked: what is the best way to finance a new business venture. This question is usually followed by “So, do you ever invest in new business ventures?”
The answers, respectively, are: 1. there is no “best” way to fund a new business; and 2. I do invest in new business ventures, but darn it [...]
Q: I am thinking about starting my own business, but statistics show that most new businesses fail. Why do you think most businesses fail?
A: This is the column that probably gets me kicked out of the entrepreneurial chapter of the Priory of Scion. I look silly in those long robes anyway, so here goes.
A thousand [...]
‘Bankruptcy’ the term that can raise the goose bumps of almost every individual who hears it and even a nervous breakdown to those who confront it. Bankruptcy stands for the situation when a person runs into huge debts and there is hardly any money left with him to repay those debts. The clouds of bankrupt [...]
Environmental conservation has recently become the latest buzzword among major countries in the world. As governments of developed countries realize the importance and inevitability of working towards environmental conservation, major business houses are trying to comply with eco friendly operations. All leading companies around the globe have realized an importance for sustainable trade for their [...]
When businesses think of team building, business owners usually associate it with building their company’s internal workforce into a lean-mean fighting machine. Team building, however, should be extended to include external relationships such as those with other businesses. Enter joint ventures or JVs for short.
Joint ventures generally are business partnerships established between two or more [...]
