As a freelancer or a self-employed business owner, one of the realities you will face is the fluctuation of income. Unlike employees with a fixed salary, it is hard to predict exactly how much you will earn from month to month. There are times when income is good and the money keeps pouring in, and times when income slows down to a trickle.
You start a business with the hope of primarily making a living from the business. Whether you want to earn just enough money to cover your living expenses or money that will allow you to live a jet setting lifestyle, the business needs to earn money for you. But are you making money from your business?
It takes money to make money. The success of your small business will depend on whether you have adequate capital needed to start and run the business. However, it is not easy, especially if you do not have the money and resources. Or you do not know where to get the funds you need especially in these tough economic times. Watch the video to learn about how to finance your small business
The only way you can really know how well your business is doing is by knowing the bottom-line. This assumes, however, that you are able to do regular bookkeeping, generate financial statements based on your bookkeeping journals, and analyze those statements to really understand the financial condition of the business. Do you know your margin […]
One of the biggest issues faced by many small businesses during the economic downturn is the tightening credit market. Finding capital financing for a small business remains a big challenge as banks tighten lending criteria and reduce their exposure to the small business sector. In fact, according to the National Small Business Association in their […]
An entrepreneur needs to know how to handle money and wealth in order to be successful. However, many women entrepreneurs are good in business, but not in handling money. In fact, there are some women small and home-based business entrepreneurs who are downright lousy at managing personal wealth and business finances. Belinda Fuchs, President of […]
Cash flow is an essential ingredient to the survival of your small business. It is the flow of money in and out of your small business, and the quantity as well as timing of that flow is critical to the continued operation of your business. Learn the seven major reasons that result to cash flow problems for businesses, which you need to look out for as a small businesses owner.
Starting a business is very risky. In addition to the possibility of failure, there are a lot of things that can go wrong and small business owners need to protect themselves and reduce these risks. Examples include: Loss of property (building, office furnishings, computers, inventory, etc.) due to fire or theft Lawsuits arising from defective […]
Collecting receivables is an important step in ensuring a healthy cash flow for a business, and more so for a home-based business or solo entrepreneur. However, account receivables collection is a time-intensive process that most small businesses just don’t have the time, know-how and energy to pursue. Learn how to choose the right collection agency to work for you.
I typically do not blog about politics or government. But like a growing number of people, I am outraged by the huge bonuses AIG will give its derivative traders — basically our tax dollars after getting significant chunks of the bailout monies. They should have just given all the AIG bailout money to small businesses! […]