The term ‘working capital’ gets thrown around a lot, but what does it actually mean? Working capital measures a business’s ability to pay off its current liabilities with its current assets. It plays a large role in a company’s success and affects several aspects of a business, including funding inventory and planning for long-term growth.
You should probably have a good handle on your company’s cash flow, but do you ever wonder how your company compares with other small businesses? Intuit QuickBooks recently released a global study, the State of Small Business Cash Flow, which reveals the cash flow challenges experienced by small business owners and self-employed workers around the world. The study
Walmart was once a small business with a single store. After proving he could build a profitable business for five consecutive years selling products at lower prices, Sam Walton and his team expanded by replicating the business model in different locations in the city, country, and internationally. Facebook was once a startup. After validating the
There’s a reason why they call it “Main Street.” Small businesses have traditionally depended on foot traffic and a brick-and-mortar presence. But in the Internet age—and especially in the age of COVID-19—businesses that leverage digital tools have a distinct competitive advantage. Unfortunately, only 46% of American small businesses have an online presence. We need to
As small businesses struggle to survive the economic havoc caused by Covid-19, new research shows that small business owners are optimistic about the future. Some 75% of small business owners agree that if a crisis like the coronavirus pandemic were to happen again, they’d be better prepared to handle it, according to a survey by
As small businesses plan strategies for reopening and recovery, the new business landscape offers little more than painful choices. Being shut down or running minimal operations may turn out to be less stressful than facing the challenges ahead—new rules for safe operation, huge debts, uncertain ability to retain a workforce, working productively with social distancing,