Tips to Start a Small Business

🕒 7 minutes Read time

Every year, thousands of people set out to start their own businesses. But only about half are successful at generating a profit within their first five years of operation. If you want your small business to succeed, these tips on starting a new business will help get you started on the right foot. E-boost’s consultants are here to give you some guidance on how to successfully start a small business that can grow into something big! Know What Type of Business You Want to Start Opening up your own small business can be an exciting opportunity, but it can also…

A Guide to Net Revenue and Income

🕒 5 minutes Read time

Net income (sometimes called net profit) is the money left over after paying all the expenses of running your business. It includes every dollar that’s earned from selling products and/or services, minus any money spent on marketing, R&D, operations, sales, and anything else you might spend money on as an entrepreneur. It’s a simple calculation – total revenue minus total expenses – and it’s the single most important number to pay attention to as you grow your business and make decisions about what to do with your profits. However, things get confusing when you realize that there’s another figure to…

What Is a Small Business?

🕒 5 minutes Read time

When it comes to capital, employees, and machinery, a small business is defined as one that operates on a much more modest scale. Scaled-down companies that manufacture or provide a service on a limited scale are categorized as small businesses or industries. A country's economic growth is directly tied to the success of these types of small businesses. The owner either makes a one-time purchase of machinery, industries, and plants or enters into a long-term lease or hire purchase agreement. Let us look at a list of small business categories that you can open without having to worry about scaling…