The Complete Guide to Restaurant Financing and Loans
Even if you don't have a lot of money or good credit, you can still operate a restaurant. Don't lose hope if you have a great restaurant idea but not enough money to open up shop. Don't let a low credit score discourage you from pursuing your goals. While banks might turn down your request for funding, others might be interested in investing in your groundbreaking new concept. If you can't find a non-traditional investor, adapting your restaurant's concept may be the next best thing. You can prove to banks, investors, and the general public that you're serious about the…
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Eduardo Mora
- 2023-05-20
What Is Customer Segmentation? Definition and Guide
Ever wondered how you keep coming across the same show advertisement on your multiple social media accounts? Does it tempt you to give in and buy those pairs of cute boots or sneakers? Well, that’s the idea! We live in a world of personalized marketing, thanks to data science and analytics. Today, we will discuss how to get started with it for your business using customer segmentation. What Is Customer Segmentation? Segmenting clients entails categorizing them into subsets with similar needs and wants. With this method, it's simple to target specific demographics with your advertising, customer service, and product offerings.…
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Eduardo Mora
- 2023-04-15
9 Benefits Of Starting An Online Business
In 2023, starting an online business offers numerous benefits. The internet has revolutionized the way we connect, and now is the perfect time to leverage its power. Discover the advantages of launching an online business and why you should seriously consider it. Benefits Of Having An Online Business In today's digital age, the world of business has undergone a remarkable transformation. The rise of online businesses has revolutionized the way we connect, engage, and transact with customers. From the comfort of your own home or office, the possibilities are endless. In this article, we will explore the myriad benefits of…
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Eduardo Mora
- 2023-04-06
What to Do If You Want to Quit Your Job
People quit their jobs for a number of reasons. It could be because they have to move out of town and working from home is not an option, because they don’t like their managers, or simply because they’re going through burnout. Whatever your reasons are for leaving the company, you can’t just walk out of your cubicle and dust your hands off the projects you’re working on. So here’s what you should do, step by step, when you plan to quit your job. Apply for Business Financing Today! GET STARTED Quitting: A Step-by-Step Guide You find yourself saying, “I want…
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Eduardo Mora
- 2023-04-01
Can You Still File for the Employee Retention Tax Credit in 2023?
What good would a tax credit for keeping good employees have done when the world was facing a health crisis? However, this is merely scratching the surface of what ERC has to offer. About 200,000 businesses in the United States shut down for good because of the pandemic. Not only that, but 8.5% of businesses in the United States have followed suit in recent years. Some businesses, however, made the conscious decision to weather the storm and grab life preservers as they became available. The timely release of the federal government's life vest was crucial. As a result of the…
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Eduardo Mora
- 2023-03-23
What Are Assets, Liabilities, and Equity?
Financial stability in business requires an understanding of accounting fundamentals and their practical application. The accounting formula is a cornerstone of sound bookkeeping practice. The accounting formula will show you how to check your assets, liabilities, and equity, so keep reading to learn more. Assets, Liabilities, and Equity In order to use the accounting equation, you must first be familiar with the components of the balance sheet that are input into the equation. A balance sheet is a financial statement that reports on the financial status of your business. The asset section, the liability section, and the equity section make…
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Eduardo Mora
- 2023-03-18
What Is an Expense Report?
An essential financial document, an expense report, is used by businesses and organizations to monitor and manage their expenses. It is a comprehensive record of all expenditures made by employees or representatives on behalf of the organization. In this article, we will explore the specifics of an expense report, including its significance, creation process, and what expenses are incorporated. What's Included in an Expense Report? An expense report itemizes various expenses incurred by employees during business-related activities or trips. These expenditures can range from transportation and lodging to meals and incidental expenses. Expenses included in a small business expense report…
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Eduardo Mora
- 2023-03-12
Offering employees a payroll advance — Pros, Cons, and Best Practices
Employers hold a duty to care for their staff, ensuring financial stability. Nevertheless, unforeseen expenses may leave workers requiring financial aid. One method to provide financial assistance is through a payroll advance, offering early access to a portion of their paycheck before payday. Payroll advances can help alleviate the financial burden on employees experiencing unexpected expenses or emergencies. Clear policies must be established by employers to ensure proper and equitable use of payroll advances. It is equally important to communicate these policies to employees, allowing them to understand the process and their obligations. Overall, providing payroll advances demonstrates an employer's…
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Eduardo Mora
- 2023-03-07
Differences Between a Balance Sheet and an Income Statement —Purpose and Usage
Today we will be talking about the differences between two of the most important financial documents that every business owner should be familiar with - the balance sheet and income statement. Understanding how these documents relate to each other, and how they differ, is crucial to making informed financial decisions for your business’ success. So, let’s go right ahead. Comparison & Contrast: Balance Sheet vs. Income Statement The balance sheet and income statement are both important financial statements that businesses use to track their financial performance. Although these statements may appear similar at first glance, they serve distinct purposes and…
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Eduardo Mora
- 2023-03-02
FIFO vs. LIFO
Any business dealing with products must understand the significance of inventory management. Choosing the right method to value inventory can impact several aspects of a business, including income, logistics, taxes, and profitability. The two primary inventory management methods are the first in, first out (FIFO), and last in, first out (LIFO) approaches. The FIFO approach is geared towards reducing losses from expired or outdated products. On the other hand, LIFO is more suitable for non-perishable items and computes the cost of goods (COGS) sold using current prices. Knowing the differences between these approaches is crucial for selecting the most suitable…
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Eduardo Mora
- 2023-02-25
Relocation Assistance Defined — Benefits, Inclusions and Costs
Any business dealing with products must understand the significance of inventory management. Choosing the right method to value inventory can impact several aspects of a business, including income, logistics, taxes, and profitability. The two primary inventory management methods are the first in, first out (FIFO), and last in, first out (LIFO) approaches. The FIFO approach is geared towards reducing losses from expired or outdated products. On the other hand, LIFO is more suitable for non-perishable items and computes the cost of goods (COGS) sold using current prices. Knowing the differences between these approaches is crucial for selecting the most suitable…
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Eduardo Mora
- 2023-02-20
How to Properly Fire an Employee
Terminating an employee can be a challenging decision for managers —and not every manager has fired someone— one that is never taken lightly but can be necessary for the prosperity of the business. This can be especially challenging when the employee fabricates reasons to call out of work, violates company policies, or simply fails to perform up to copay standards. If an employee repeatedly fails to fulfill their job duties and obligations, despite attempts to rectify the situation, releasing them may be necessary. When it comes to terminating an employee, several crucial factors must be considered, including the reason for…
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Eduardo Mora
- 2023-02-15