Best Practices for Inventory Management in a Small Business

Best Practices for Inventory Management in a Small Business

Inventory management is the process of ordering, storing, and tracking the inventory of a business. It is an essential task for any business, but it is especially important for small businesses that have limited resources. Here are some best practices for inventory...
End of Year Planning for Your Small Business

End of Year Planning for Your Small Business

The end of the year is a great time to take stock of your business and make plans for the future. Here are some tips for end of year planning for your small business: Review your financial statements. This is a good time to take a look at your income statement,...
What are Gross Profit and Profit Margin?

What are Gross Profit and Profit Margin?

One of the most important areas of a company's financial management is the calculation of gross profit.  However, it is the most misunderstood and overlooked areas of business. It is the profit a company makes after deducting the costs associated with making and...