In the small business world, cash is everything. You don’t yet have the war chest you need to survive dry spells, and how you manage the limited resources at your disposal is critical. Too often, small businesses get into trouble because the metrics they pursue are all theoretical, and they underestimate the impact a cash …
A DBA stands for ‘Doing Business As’ which means that it is a trade name, assumed or fictitious name of a company. In other words, this is the name under which a company, freelancer, partnership or other business operates, as opposed to the legal name. Using a DBA can serve many purposes, such as protecting …
As a small business owner or freelancer, you may struggle to analyze your profitability metrics effectively. However, these metrics are critical to securing long-term business growth and making informed business decisions. The most important measure that provides insight into the profitability of your company is the gross margin. Business owners should consistently look for ways …
A proforma invoice is a key element in your entire business finance and billing system. Ultimately it is essential to have one so that you can get paid by your buyers. As a business owner, you probably won’t get very excited about creating and sending invoices, but you need to maintain cash flow and that’s …
Many freelancers, entrepreneurs and startup founders believe that by providing a service (or selling a product), they have completed the transaction and the money is immediately available in their bank account. In their minds they are almost finished when it turns out that the invoice is not immediately due and payable. Net 30 on an …
For a business to be successful, regardless of size, it is essential that it makes a profit. However, the economic result, calculated as the difference between revenue and costs, depends on many factors, so you need to know the break-even formula. In this article, we’ll show you the costs associated with self-employment and running a …
Break-even point calculation explained | Fiverr workspace Read More »
Do you need a CPA for your small business? Many freelancers and small business owners struggle to know when it’s time to seek help from a CPA. While there is no set time frame, a CPA’s expertise and knowledge can help you navigate different areas of your financial and tax reporting. Understanding their services, pros …
A common question freelancers or small business owners ask is how much their business should grow each year. While there’s no easy answer, considering a few factors can help you set a realistic growth goal for your small business. In general, business growth is directly related to profitability. If your business is profitable, you should …
