Apr 29, 2018

Small business owners should have an understanding of financial terms, as they are the nuts and bolts of a business operation. If you have an accountant or are handling your own financials, knowing these financial terms will help you understand how well your business is functioning. Here are a few terms small business owners should be familiar with; P and L – This is a statement, usually completed every month, will give you an understanding of how your business is running. Balance Sheet – This is an indication of your businesses assets and liabilities. This statement will provide valuable information for decision-making. Assets – These are items such as cash, real estate, land, equipment, tools, computers, and furniture. Liabilities – These are loans outstanding and monthly bills your business owns. Equity – This is the money you and any other owners have invested in the business. Bottom Line – This is the net income or earnings that a company makes for the month. Markup – This is the additional price added to the cost price. Gross Margin – This is the difference between total sales revenues and total cost of goods sold. It can be stated on a per-unit basis, in dollars or as a percentage. Gross Profit – This figure is your “Cost of sales” minus your costs directly associated with sales, such as materials, labor, and delivery. Net Profit – This is your profit after costs such as overhead, materials, wages have been...

Mar 30, 2018

Article Written by : Debt Declaration Many people have a long list of goals, but find it hard to reach these goals as they lack productivity. Here are some tips that will help you prioritize your goals and use your time wisely. Write everything down – List down the routine daily tasks that you have to handle plus the longer term projects assigned to you. Avoid only concentrating on tasks that are assigned by others. Organize by time horizon – Do this by dividing your list into three-time categories: Career aims – These are long term goals that are as long as five Objectives – These are your professional goals that span between three months to two years. Targets – Create action steps to add to guide you through your day. Rank your objectives – Look at what you want to do and what is best for you. Avoid considering what other people expect of you as these needs will be distinctively different from your needs. Rank your targets – Your targets are your action steps. They fall into two categories; these are enabling targets, which are targets assigned by you and assigned targets, which are those that have directed to you by others. Estimate how you spend your time –Once you have ranked your objectives and targets, assign them with specific timelines and how often you intend to work on them during the day or...

Traveling can be rewarding for many reasons. Doing so gives individuals the opportunity to view life from a different perspective, learn about different languages, cultures, histories, meet people with different backgrounds, and ultimately learn more about themselves. Unfortunately, it can be tough to actually travel on a regular basis, due to things like hectic work schedules, tight budgets, and other obligations. That being said, there are various ways to achieve this balance if traveling is a hobby you wish to pursue. Below are some ideas that you may find helpful.   Work Part-Time   Many adults in the United States work from 9-5PM, Monday through Friday. This fairly standard 40-hour work week allows individuals to work during the week and unwind during the weekends. With only Saturday and Sunday off, it is possible to have day trips or short weekend getaways.   If you want more than 48 hours a week to travel, it may be worth it to look into a part-time job. Although a part-time job understandably would pay less than a full-time position, it would allow you more time each week to go out and explore.   Have a Remote Job   An additional way how you can manage to fit traveling into your work schedule is to have a remote job. The internet has made it possible for some people to work from wherever they want. A person can work at their house, in a cafe, on the beach, or in a hotel, as long as they have an internet connection to be productive.   There are numerous data entry, customer service, and other flexible jobs that can be done with a laptop and internet. By not having to go to an office every day, you are ultimately given the flexibility of working in almost any environment.   Blog submitted by Monte Carlo Rent A Car, LLC: If you need to rent a car in Abu Dhabi, visit Monte Carlo Rent A Car, LLC for great...

Feb 5, 2018

If you need funding to start or grow your small business, but you have bad credit, you may feel that you will never be offered a bank loan. However, if you are not able to improve your credit in time to apply for your loan, here are some tips on how to get a business loan. Small business administration (SBA) – This form of lender is accustomed to small businesses that are faced with roadblocks. It is best to approach an SBA lender at a small bank rather than bigger banks. It is important to note that even if one SBA rejects your application; you can always put through your form to another. Most SBA loans are approved with a personal guarantee which is usually on the owner’s home. Revenue-based loan – Revenue-based loans are offered to businesses that have a steady cash flow and make regular bank deposits. Most banks will provide a loan of 10% of your annual deposits. Merchant cash advance – This form of loan is offered in exchange for future credit card sales. Internet lenders – These alternative lenders operate only on the internet and offer quick funding. Most of these lenders use analytic software and non-traditional means of assessing applicants. Often businesses that have been rejected by banks and SBA’s will receive funding from these sources. However, it is important to note that these loans come with extreme interest rates and feature strict terms....

Jan 2, 2018

Finances can be a messy and misunderstood subject for most. However, understanding how to save, invest and attain what you’ve always wanted is a rewarding experience and is a great way to progress. Here are six quick finance spring cleaning tips. Easy budgeting – Tracking your expenses is a great way to understand where and what you spend on. There are some simple apps available at the moment like Mint.com, and You Need a Budget which are simple to use, yet very useful. Emergency fund – Having an emergency fund is a safety net for you and your family if you lose your job or you are ill and need to take time off work. Look at saving a percentage of your earnings every month for this purpose. Big-ticket purchases – Big ticket purchases are what eat up savings but if you have budgeted for it before you can look at putting something away for it every month. Comparison shop – Comparison shop will help you compare insurances for auto, life, home, and even health insurance and it takes minutes. Reduce credit card interest – Interest on your credit card is unnecessary. Look for credit card offers that provide zero interest for 18 months. Check your credit – Always check your credit reports for errors and make a point to check your credit score. Keeping track of your score means that you will always know how much you can take on credit in an emergency without adversely affecting your credit score....