Many small business owners struggle with obtaining business finance, and there is absolutely nothing unusual about this. It can become grinding because sales are slow and you are learning how the business actually operates, to acquire customers, market products, understand how changing processes and products affect your financials, and every idea you have does not automatically work as you envision it to increase profits.
Despite the challenges of selling services, especially intangible services, to either B2B or B2C clients, Sagework’s list demonstrates that it is possible to make money as a self-employed service provider. The above tips for saving money on overhead costs, can help small business owners and entrepreneurs gain a competitive business advantage.
For those small businesses that do not have the hierarchical structure in place to implement formal corporate governance plans, it is recommended that regular self assessment of the company will be the starting place for accountability, to enhance performance, grow the company and be a greater contributing force in the economy.
It is a bit of an irony that some business owners try to project the idea that they are bigger than they really are. Self-employed people avail the exemptions for small businesses that has been mentioned in the itemized classification of tax deductions. Using Facebook to market your business is a great way of getting more people to become your clients.
Again, businesses with 50 or fewer employees will be exempt, but those with more than 50 employees will be fined $2,000 per employee for any individual averaging 30 or more hours per week not offered coverage (note, this does not include the first 30 employees).