Small business is defined as a company, partnership, sole proprietorship, or corporation that has less than five employees and less than $1 million in annual revenue. The definition of “small” on a state level also varies by industry and country. This could be because the state limits the number of companies to keep an official […]

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Operating a business is not as easy as many entrepreneurs would like you to believe. It takes a lot of hard work and dedication to be successful. The basic business structure is also known as the partnership or the business entity. Limited liability company is one of the simplest business structures that offers several advantages […]

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In a business environment, profit and loss are important factors that companies have to keep track of. Profit, in business, means cash coming in minus the cost of making it. Loss, on the other hand, comes in when the company loses money. The differences between these two are often a major point of contention between […]

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