Business Planning

Small Business Management: Tips & Tricks to Help You Succeed

Starting a small business is always an exciting but nerve-wracking experience for most entrepreneurs. That’s because managing it effectively takes a lot of hard work, risk-taking, and sound business skills. 

Not every owner makes it through the crucial first years, but with the right business management help, even first-timers have a fighting chance.

That’s why today’s article focuses entirely on how to manage a small business. We’ll discuss why it’s crucial and then delve into various business management tips and tricks to help you grow your enterprise successfully.

What is a DBA?

Are you thinking of operating your business under a different name? Fortunately, it’s easy to do this and doesn’t even require you to incorporate a new company. All you need to do is to file for a DBA. 

If you’re thinking, “what is a DBA?”, then you might recognize them by a different term – trade names. It’s how one company can manage multiple brands, as many large corporations do. 

In today’s article, we’ll answer the question, “what is a DBA name?” then discuss the reasons why you need one. We’ll end with some tips on how to file for a DBA successfully.

Minority-Owned Business: How to Get Certified & More

Being a minority business owner used to be challenging. Most are at a disadvantage when trying to access capital, and networking opportunities were harder to come by for business growth.

Luckily, things are changing.

It’s now easier than ever for a minority-owned business to succeed, thanks to several assistance programs and government initiatives available to them. They just need to become certified as a minority business owner to benefit from these programs.

In this article, we’ll talk about how to get minority certification and what it will mean for a business owner.

Qualified Business Income Deduction: A Tax Break You’ve Been Missing

In 2018, The US Treasury Inspector General determined that there were 900,000 tax returns that qualified for and could have benefited from the qualified business income (QBI) deduction, but didn’t claim it. That’s a lot of taxpayers who didn’t get a deduction that they deserve. You might have been one of them.

In this post, we’ll go over the basics of the QBI deduction, determine if you qualify, and other facts about this little-known business deduction. 

The QBI deduction is a business income deduction applied to owners of pass-through entities such as LLCs and S-Corps. Below we will detail how the 20% pass through deduction works and share information that will help you determine if you qualify.

Pros and Cons of Etsy

If you’re into selling unique and rare handicrafts, Etsy should be a big part of your e-commerce strategy. With a large and passionate marketplace, it’s one of the best platforms for small craft businesses to sell in.

But before you open that Etsy store, know that it’s not for everyone. Coming in prepared is critical if you want to succeed in this busy marketplace.

In this post, we’ll talk about selling on Etsy, pros and cons of doing it, and if it’s the right strategy for you.

Useful Financial Calculators for Small Businesses

As a business owner, making money decisions for your business is a process often plagued with fear and indecision. Luckily, some financial calculators and tools can relieve some of the uncertainty. 

Personal finance calculators and financial calculators are specialized tools that help with budgeting, loans, personal finance, and more. They can be used to compute values of investments, cash flow, and loan-related expenses such as interest rates. 

A smart business owner knows the importance of planning, and using financial calculators helps one make strategic, informed decisions about money. 

We’ve rounded up a list of essential free financial calculators that small businesses often need.