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When you are an entrepreneur, you need to have a few essential business skills under your belt. If you do not have any technical skills or financial management knowledge, then how can you ever launch your own business?
by How do you measure your business’ performance? How do you know your business is healthy? Are you using the right metrics to measure business growth? If you want answers to these questions, you should read on.
If you’re in the business of growing your company, it’s important to know how.
by The best way to build a strong brand image for your small business is to start with a solid foundation. The foundation of your brand is the core values and principles that guide your business.
It’s important to note that the process of building a strong brand image doesn’t happen overnight – it takes time and effort.
by Brand management is not just about marketing, it’s also about creating a consistent message and experience for customers. This is why brand management is so important.
It allows you to create an emotional connection with your customers that will help them understand what you stand for and how they can benefit from being part of your business.
by It is one thing to have a budget but another thing is to stick to the budget. Business budget management starts with having a clear picture of what a financial plan (budget) is, clearly mapping out a budget helps the business have a sense of direction as regards managing the budget.
by Business owners are able to manage their finances when they have sound records of their financials. This in turn helps with tax concerns and enables you to properly allocate financial resources for productive use. Also, it helps you with sharing profit with the business partners.
by A sole ownership is a business owned and operated by one individual. The owner has unlimited liability for the debts and obligations of the business but is entitled to all profits and losses from it.
by Effective small business tax planning requires knowledge of the various rules and regulations, as well as the ability to handle them when they change over time.
by If you’re considering starting a new business or have an existing one that needs some streamlining, the first thing to consider is choosing a business structure that best fits your operations.
Generally, there are a few factors that will help you make a decision. You should consider all the variables and how they will impact your choice.
by The tax base is generally dependent on Business assets and liability, assets being what you have left for future tax deductions while that of a liability is its carrying amount, remove any amount that will be deductible for tax purposes with regard to that liability in future periods.
by A business cannot shy away from tax-related discussions as it is an integral part of a business that has to be taken into consideration at all times. In order to keep records of the business tax payments with the Inland Revenue Service, a business is expected to have a Tax Identification Number (TIN) that serves as the account under which all tax transactions performed by a business are recorded.
by Strategic management accounting is a set of tools that help you understand your business and plan for growth. It can be used by anyone in any role, but it’s especially useful for those who are responsible for making strategic decisions about their company’s finances.
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