Summer Fridays are a type of flexible scheduling that allows employees to leave the office early or take the day off at the end of the week. As the name suggests, this flexible workplace option occurs ...

Rent, utilities, equipment, furniture, inventory, licenses, insurance, marketing, staff — all sorts of expenses are required to run a small business. It’s essential to carefully track all of your ...

Balance sheets and income statements are important tools to help you understand the finances and prospects of your business, but the two differ in key ways. Knowing when to use each is helpful in ...

Once your business has a team of employees, it’s best to set up an employer-sponsored retirement plan, which can help improve retention rates. Some states even require certain employers to offer 401(k ...

Business collateral is property or other assets that a business can use to secure a loan. If the business fails to repay a loan secured by collateral, the lender can seize that collateral and sell it ...

Entrepreneurs and small business owners often need an efficient way to accept mobile credit and debit card payments. Using your iPhone as a mobile POS system — where your phone transmits data instead ...

Just as it’s important to let your staff know when an employee leaves your business, it’s similarly essential to inform them when you’re bringing a new hire on board. It’s best to do this by email and ...

A robust compensation plan is crucial for attracting and keeping a quality team. A successful compensation strategy incorporates multiple elements beyond salary, including flexibility, employee ...

Your customers drive your business, which is why it’s so important to note how they interact with your brand. Don’t just reach out to them when you want their business; find ways to continuously show ...

A federal employer identification number (FEIN), also known as a tax identification number (TIN), is issued to entities that do business in the United States. The FEIN is a unique nine-digit corporate ...