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13 Critical Small Business Legal Requirements to Start a Business

Up and Running

Small Business Administration , an organization is considered to be a small business if their: Firm revenue ranges from $1 million to $40 million Number of employees is between 100 and 1,500. In addition, it should have a place of business and not be dominant in its field of operation.

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4 Reasons Small Businesses Fail

YoungUpstarts

There are four main reasons small businesses seek financing : startup costs, inventory purchases, business expansion, or business fortification. Fortunately, in 2015, loans to small businesses are expected to increase; great news for small businesses searching for capital.

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You’ve Got Funding: 5 Things to Do With the Money Right Away

Up and Running

The details within those pages will remind you of the spending strategy you outlined to get your business off the ground. According to 2016 statistics published by the Small Business Administration (SBA) , only about 78 percent of small business startups survive the first year, and only half make it to the five year point.

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These 6 Simple Things Can Prevent A Business Failure

YoungUpstarts

Consider another finding of that same study: 58% of successful business owners use some kind of software to manage their finances. Only 14% of unsuccessful owners use any financial software. So there are two surprising tricks for how to stay in business: Use financial software. Namely, your inventory.

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5 Tips To Take Your Small Business To The Next Level

YoungUpstarts

Those dreams can fuel any business as it secures loyal customers and achieves a consistent revenue stream, but that may not be enough to take it to the next level: its transformation into a larger company. There are now many different platforms out there; some that let you start for free and add paid features as your business grows.

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Estimating Realistic Startup Costs

Up and Running

Two essential lists: Startup costs normally include startup expenses and startup assets: Startup expenses: These are expenses that happen before you launch and start bringing in any revenue. If your cash balance drops below zero then you need to increase your financing or reduce expenses. I have an example in the illustration below.

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What Every Female Entrepreneur Should Know Before Opening a Retail Shop

Women Entrepreneurs Can

However, if you sit down and create a blueprint for your first few years in business, you’ll at least know where you’re going and how to get there. Lay out your plan for revenue, promotion and how you’ll handle the competition. Project revenue, but do so conservatively at first. Learn Finances. Study Marketing.