What is a Profit and Loss Statement?
Small businesses have unique challenges when it comes to financial statements. Owners rarely have accounting backgrounds, and often operate without a finance team. This can make it difficult to identify the most important financial data for the company. One financial statement that every small business owner should be aware of is a Profit & Loss […]
eCommerce Seasonality: The Secrets to Success
Just as the weather turns crisp and the trees shed their leaves, your eCommerce business will face changing seasons. In order to stay competitive amidst changes in the forecast, you’ll need to anticipate these seasonal fluctuations and begin adjusting your budget and inventory accordingly. Successful eCommerce sellers understand how crucial it is to anticipate the […]
7 Easy Ways to Automate Small Business Tasks
As a small business owner, there’s always a lot on your plate. There is a never-ending list of demands on your time. So, it’s important to prioritize complex tasks over menial, repetitive ones. Luckily, many of your everyday business tasks can be automated. Small business task automation can save you time and ensure that you […]
What to Know about Business Licenses
If you’re thinking of starting a business, one of the first things you’ll need to do is apply for business licenses. This can be a daunting task, but we’ve got you covered. Here’s what you need to know about business licenses …
A Quick Guide to IRS Mileage Reimbursement
As gas prices soar in 2022, small business owners should be aware of the mileage and fuel reimbursements available. As of July 1st, 2022, the IRS has set new federal mileage reimbursement 2022 rates. At the beginning of the year, the rate was 58.5 cents per mile and now has increased to 62.5 cents per […]
The Importance of Supply Chain Agility in eCommerce
According to the US Census Bureau, eCommerce businesses accounted for 15.4% of all sales in the United States in 2023. This number was made up of purchases from 274.7 million eCommerce customers in the United States, constituting more than 80% of the country’s total population. After more than two decades of the industry continuously growing […]
Tips to Create a Marketing Budget for Small Businesses
Marketing for small businesses is critical for growth, especially during the early stages of a company. That’s why it’s so important to create a marketing budget early on. When people think of marketing budgets, they often default to advertising, and with good reason. Advertising is the fastest way to reach potential customers. An advertisement budget […]
The Three R’s of Customers Satisfaction: Retention, Related Sales, and Referrals
The three R’s of customer satisfaction are key indicators of a company’s success. Retention, related sales, and referrals are basic pillars of customer success. By monitoring and measuring these key indicators, a company can track its progress in meeting customer needs and expectations. It’s easy for growing companies to lose focus on how to increase […]
10 Best Tax Deductions for Small Businesses
A tax deduction, or tax write off, is a business expense that can be subtracted from your taxable income, decreasing the amount of money you owe. Tax deductions for small businesses are important because they ultimately reduce your tax liability and lower your tax bill. This will help your business save money in many areas. […]
