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Consider this scenario: The owner of a bakery (let’s call her Michelle) added a catering service about a year ago. Orders are coming in left and right, so she wants to buy more inventory and a top-of-the-line industrial mixer to keep up with demand. Shouldn’t be a problem with all the revenue coming in, right? […]
You’re running your small business, and things are going well. Sales are coming in, and you’re starting to see some profits. But at a certain point, you’ll face a decision: Should you stay the same size? Or should you grow? Deciding whether to embark on a business expansion is one of the most important decisions […]
How are you feeling about the economy these days? Consumer confidence has been shaky since the rollout of wide-ranging tariffs by the U.S. on imports from all around the world, and especially on China. For small business owners, times of economic uncertainty like these just reinforce the importance of consistent financial forecasting. While it’s unclear […]
You need money to make money, the saying goes. Whether it’s a bank loan, investment, self-funding or reinvesting profits, knowing where to find cash is critical for small business owners, especially those that are just starting out or are dealing with narrow operating margins. One particularly enticing form of funding is a small business grant. […]
Tariffs are here in a big way. How prepared is your business? The April 2 announcement that the United States was implementing massive tariffs on 60 countries promised to fundamentally remake global trade. And even with the president putting a 90-day pause on many of the tariffs, an eye-popping 145 percent tariff rate on China […]
Did you know that 30 percent of businesses close by their second year? Business failures happen for a variety of reasons, but one of the most common is that owners simply run out of cash. And while some business ideas just don’t pan out, many times better planning could have kept the business open […]
Budgets and Forecasts are vital components that inform your business planning and strategy. Learn about the key differences and how to use each effectively.
Buying a business can provide the benefits of entrepreneurship without the pain of starting from scratch. Learn how one entrepreneur followed 8 steps to make it work.
It’s tempting to hand the work over to AI tools when writing a business plan for a bank loan. But relying on AI too much carries these risks.
Nurses are experts at multitasking under pressure, juggling patient care and medication management with administrative work. Those same skills can be put to use in numerous side hustles.