Business License Requirements in Florida

While the process of starting a business in Florida isn't necessarily difficult, there are several steps that you need to take to ensure that you can legally operate. One such step: obtaining the right permits and business licenses. Depending on...

Leasing Lenders: Should You Work With One?

As small businesses grow, they may discover that they are outgrowing their equipment or they may have the need to purchase new equipment. Such equipment could come in the form of machinery, vehicles, or technological equipment for example. These...

What are Business Operations?

Business operations tend to point to all of the activities and business processes that firms engage in daily to generate income. It takes all involved with a company, generally speaking, to ensure that operations run smoothly, from the employees to...

What Is An IRS SS-4 Form And What’s The Process?

Many small business owners will at one point or another likely apply for business financing. There are several things you will need to present in tandem with the application. One such item that you want to make sure you have is your Employer...

Gross Revenue – What is it Exactly?

Financial statements are key to a business's overall financial health. This is because seeing the numbers, understanding precisely where things stand enables you to make smarter decisions, plan for contingencies, and make adjustments if the...

Balance Sheet – The Different Accounts

Your balance sheet is critical to having a better grasp of your company's finances. That said, many small business owners aren't taking the time to familiarize themselves with their balance sheets and are rather leaving the bulk of that to...

SBA Loan Forgiveness Process

In terms of the SBA's Paycheck Protection Program (PPP), which bailed out thousands of small businesses during the peak of the pandemic earlier this year, the forgiveness process is currently underway. That said, there is still some confusion...

Retained Earnings Statement – Why do Businesses Need to Know It?

First off, it's important to know what exactly is meant by retained earnings (RE). Retained Earnings represent that portion of business profits which are reinvested back into the company versus given as dividends to shareholders. RE are used often...

What is a Balance Sheet and is it Important?

Essentially a balance sheet provides an overview of a company's assets, liabilities, and shareholder equity for the accounting period. So what you will find when reviewing a balance sheet is everything the business owns, what it owes, and how much...

What is Accounts Receivable Turnover and Why Does it Matter?

Accounts receivable turnover is a pretty important number for any small business owner to have a handle on. Essentially, what accounts receivable turnover refers to is how many times during the accounting period accounts receivable were collected....

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Will You Need a Commercial License?

Will You Need a Commercial License?

Many small business owners, upon starting their companies, aren't certain if they need a commercial license to engage in operations. More than likely, depending on the industry, there is going to be some form of commercial license required. And again, depending on...

Do You Need a Business License?

Do You Need a Business License?

Whether or not you need a business license upon starting your company/firm will really depend upon a few factors. Not to mention, the requirements as far as business licensing go do vary from state to state. That said, if your industry and state require you to have a...

The Break-Even Point – What is it?

The Break-Even Point – What is it?

Breaking even is what many businesses strive for in the early phase of the company's life. The break-even is the point at which revenue finally equals cost. Understanding break-even and knowing how to calculate that break-even point enables you to better determine...

What are Business Operations?

What are Business Operations?

Business operations tend to point to all of the activities and business processes that firms engage in daily to generate income. It takes all involved with a company, generally speaking, to ensure that operations run smoothly, from the employees to the managers, to...