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Now that your business is registered and licensed, it’s time to start figuring out your funding. This can be a very delicate and stressful step, but it is imperative that you understand the intricacies of funding a small business and… Read More
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The Basic Steps of Starting Your Own Business: Identification & Licensing (Part 4)
The next steps to starting your own business begin with identification and continue with getting your business properly registered and licensed to operate. You’re getting very close to opening your doors for the first time and welcoming customers to your… Read More
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Common Accounting Errors and How to Spot Them
There is really no denying that accounting errors are all too common among business owners — particularly when they do their own accounting. In fact, accounting errors tend to be quite inevitable. The reality is, with any small business, making… Read More
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The Basic Steps of Starting Your Own Business: Business Structure (Part 3)
The next step in the long process of starting your own business is choosing the best business structure based on your vision, needs, and concerns. Every business structure has its own particular pros and cons to consider, and some are… Read More
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The Basic Steps of Starting Your Own Business (Part 2)
Once you have your business concept market research completed, it’s time to move on to the next step of starting your own business—the business plan. A business plan is an extensive document that is critical for anyone looking for outside… Read More
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The Basic Steps of Starting Your Own Business (Part 1)
Starting a business is a long and arduous process, but watching it succeed and flourish is a major source of pride. These are just the basic, beginning steps of developing your own business so that you can find success no… Read More
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What Are the Advantages of Hiring an Accountant for Your Small Business?
When running a small business, it can be all too easy—perhaps the only part that’s easy—to leave financial management under-tended or neglected outright, what with all conceivable energy and focus being required for day-to-day operations: customer service, team morale, sales…… Read More
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What is the Difference Between Bookkeeping and Accounting?
Accounting and bookkeeping are two terms often used interchangeably, despite being two fairly distinct functions that serve markedly different purposes in the financial world. To wit: while these two disciplines are certainly “related,” they differ widely in their specific professional… Read More
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Should Your Small Business Outsource Its Accounting?
Small business owners are constantly balancing any number of tasks and responsibilities, including—more often than not—a good share (if not all) of the accounting and bookkeeping. However, for most entrepreneurs, these are inordinately time-consuming, complex tasks, requiring a certain level… Read More
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A Handy Guide on the Depreciation of Fixed Assets
Depreciation of fixed assets is a crucial process that businesses undertake to gradually reduce the recorded cost of their fixed assets over time. Fixed assets such as buildings, furniture, and office equipment can be depreciated, with the exception of land…. Read More