Use Return on Investment (ROI) for effective project analysis
For small businesses in all industries, measuring the Return on Investment (ROI) for every major expense should be a mandatory exercise. Unfortunately, calculating this financial metric is often overlooked, so owners and managers miss out on the accompanying benefits....
Learn to read your cash flow statement
Small business owners have a lot of tasks to manage to keep their businesses running smoothly, but among the most important things on the radar is the financial health of the enterprise. Everyone knows when the money dries up, you’re done. Though there are many pieces...
Lower your tax bill by hiring family members
If you’re a small business owner, there are some tax advantages you might be unaware of that can lower the overall tax bill for your family, if you decide to employ family members in the business. It’s commonplace for multiple family members to work in a small...