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Small Business Trends to Always Watch For

Small Business Trends to Always Watch For

Paying attention to the latest small business trends puts you ahead of your competition and with 30 million small businesses in the United States, the competition is fierce. By knowing the latest business news and trends, it’s easier to grow company sales, offer better customer service, and operate more effectively.Here’s what was predicted just in…

Definition of Accounting

Definition of Accounting

Accounting is the process of recording financial transactions pertaining to a business. The accounting process includes summarizing, analyzing, and reporting these transactions to oversight agencies, regulators, and tax collection entities. The financial statements used in accounting are a concise summary of financial transactions over an accounting period, summarizing a company’s operations, financial position, and cash…

Investment Definition and Its Importance

Investment Definition and Its Importance

An investment always concerns the outlay of some asset today (time, money, effort, etc.) in hopes of a greater payoff in the future than what was originally put in. What’s an Investment?Investing is putting money to work to start or expand a project – or to purchase an asset or interest – where those funds…

What to Produce, How to Produce and For Whom to Produce

What to Produce, How to Produce and For Whom to Produce

ADVERTISEMENTS:The Central problems of what and how much to produce; how to produce and for whom to produce are determined by the free price mechanism. (i) What to Produce:Let us consider the first question: ‘which commodities are to be produced and in what quantities? The commodities which do not command positive prices in the market…

A Step by Step Guide to Starting a Business

A Step by Step Guide to Starting a Business

Shutterstock/FlamingoImages You want to make sure you prepare thoroughly before starting a business, but realize that things will almost certainly go awry. To run a successful business, you must adapt to changing situations. Conducting in-depth market research on your field and the demographics of your potential clientele is an important part of crafting a business…