The headlines might carry news of cyberattacks against large companies, such as Target and Home Depot, but the greater reality is that small businesses are as likely, if not more likely to experience a cyberattack. By one estimate, the number of cyberattacks experienced by small- to mid-size businesses (SMBs) increased by more than 40 percent from 2015 to 2016. This rate of … [Read more...]
How to Calculate Your Profit Margin
Simply put, profit is the amount of money you make on a sale after you subtract the cost of acquiring or producing the product. For example, let’s say you sell an item for $200 and it cost you $180 to get it. Your profit is $20. In this case, you’ll have a 10 percent margin on that sale. You sold it for $200, you made $20; 10 percent of 200 is 20. However, this figure … [Read more...]
The Small Business Guide To HR
Human resources, often called just “HR”, is one of the more complex aspects to running a small business. Unlike other, more tangible assets, people aren’t going to fit too neatly into a spreadsheet or software infrastructure. Despite its challenges, HR is extremely important to the day-to-day running of your business, and certainly not something you can afford to neglect. … [Read more...]
Small-Business Sales Tips to Follow for Increased Revenue Today
When you run a small business, you always have a very long list of tasks to complete, whether you have staff working for you or not. While it may be tempting, then, to put off focusing on the sales process if you’re not a fan of this element of business, you must keep in mind that it is an essential strategy and it can make all the difference between a small business that … [Read more...]
How You Can Get Your Hands on More Cash for Your Business
For a business to grow and expand, it needs cash. It can’t be done without it. But how can a business find more money to make that happen? There are plenty of options. Which one is best will depend on the specific business and what its financial situation is. Different situations require different approaches, as is always the case in the world of business. Consider each … [Read more...]