What You Must Do When Starting a Business

Your ‘To Do’ List When Starting a Business. When starting a business, you have a great task ahead of you. This is not to intimidate you. It is just to prepare you so that you can succeed in the business you are starting. It is no longer news that a great number of small businesses do not survive their initial five years. Some of the factors responsible for the failure of small businesses have been discussed in the previous article. Therefore, I will not want to go back to them here. If you are yet to read it, you can Continue ReadingWhat You Must Do When Starting a Business

How to Get Small Business Loans With Ease

Learn how to secure small business loans without stress. Securing small business loans is not as difficult as the way people think. You only need to understand what the banks want before they grant small business loans. If you master and meet the banks requirements, it will be easy for you to get loans for your small business. There is no gainsaying about the roles finance plays in small business. If you ask any small business owner what his challenges are, he will likely mention finance among others. Of course, there are different ways a small business can finance its operations. This Continue ReadingHow to Get Small Business Loans With Ease

How to Calculate Break Even Point in Business Plan

How To Calculate Break Even Point (BEP) in Sales and Units. Let me assume that you don’t know how to calculate break even point. But before we start talking about how to calculate the break even point, it is important you have the understanding of what the break even point is. Break even point analysis is a key financial analysis tool which you need to understand how to use as a business owner. It will help you in your pricing decision. Break even point is the point at which sales equal expenses. That is, a point at which you are Continue ReadingHow to Calculate Break Even Point in Business Plan

How to start computer repair business

Basic guide on starting computer repair business. If you have been thinking on how you can start your own computer repair business, this article will give you a clue on how you can make it a reality. Without any doubt, computers have become indispensable working tools for individuals, small businesses and large corporations. Anyone using computer will know how frustrating a day may be if his or her computer is not functioning. It can paralyze almost all the day activities. Therefore, all users of computers like to ensure that their computers function effectively. In large corporations, they can afford to Continue ReadingHow to start computer repair business

How to Prevent Bad Debts in Business

Preventive measures against bad debts. What is “bad debts”? In a simple language, I will define bad debts as sales made to customers on credit which you are not able to collect. On the other hand, one can say that bad debts are irrecoverable debts. Bad debts as its name implies is bad for any business. It does not only distort your financial reporting, it also affects your liquidity. Let me explain this. In accounting, you prepare your financial statements using accrual concept. This implies that you recognise your revenues when sales are made. You don’t wait till the time Continue ReadingHow to Prevent Bad Debts in Business