Why is Statement of Retained Earnings Important for Small Business?

January 10, 2019


One of the most important financial and accounting concepts to be aware of when it comes to your company is retained earnings. Retained earnings can be seen as a business savings account that can grow or decrease, based on financial decisions. Mathematically, retained earnings are determined by:

 

Retained earnings = Net income – dividends + beginning retained earnings balance.

Let’s assume this business scenario. A company currently has $10,000 in beginning retained earnings along with $7,000 in profit. During this set time the company paid $4,000 in dividends. Using the formula, the company’s current retained earnings value would be $13,000. ($7,000 – $4,000 + $10,000).

It’s important to note that retained earnings are not the same as net income, also known as revenue. Instead, retained earnings are based on a company’s total profit along with other factors. Retained earnings are a historical count of net earnings that haven’t been paid out to shareholders.

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15 Marketing Tools You Want to Utilize to Skyrocket Your Business in 2019

January 9, 2019


It doesn’t matter what business you are in, there’s one thing that will always stay constant and that is the fact that the behaviour patterns of your consumers will be constantly changing. For this reason, you need to rely on your marketing team to implement strategies to meet this constant change and to even predict it where necessary. This is known as dynamic marketing and dynamic marketing tools are essential if you want your business to have a solid online presence and if you want to increase your brand awareness. But marketing tools do more than just let people recognize your brand; truly effective marketing tools can help to increase the traffic to your website that actually results in high converting sales and they can also help you to gather the essential customer data that will help you in the future.

Got your interest? Then take a look at the following list, where you will find 15 marketing tools and strategies that will help to skyrocket your company’s growth.

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Everything You Need to Know about SSL Certificate Pinning for Android Banking

January 8, 2019


With the rise of mobile banking apps, users can now enjoy banking services from the comfort of their Android devices. However, the prevalence of Man-In-The-Middle (MITM) attacks pose a serious security threat to mobile banking users. For example, cyber thugs can steal their banking details in between their servers and browsers. Such attacks can lead to the loss of their money since hackers can access their passwords and empty their bank accounts. Therefore, it becomes necessary for mobile app developers and the banking systems that use them to take precautionary measures to safeguard their customers. One way of doing that is using SSL certificates.

However, the rise of fraudulent CAs issuing compromised SSL certificates raises the bar for security, and hence, necessitating SSL certificate pinning. In the remaining sections of this post, I will reveal more details about this solution to mobile banking security. I will disclose what it is, how to implement it, and its pros and limitations. So, remain on board so you don’t miss anything.

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How to Work on Your Terms by Owning a Business

January 7, 2019


Majority of jobs in the country are generated by small business owners. With such a large workforce, it’s easy to get swept up in the 9 to 5 grind, working for a boss who could care less about you personally. However, owning your own business is a challenge, that if done successfully can provide a number of perks and rewards that let you live a flexible life where you are your own boss. This means no person to answer to, no worrying about your job stability being in the hands of other people, and true control over what you do on a daily basis. Growing your own business requires serious stress management skills and raw determination, but also offers the opportunity to create something worth having pride in.

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7 Questions Business Owners Should Ask Before Switching to LPG

January 7, 2019


Running an off-grid company will see you face commercial pressures in the same way as any other business. There is a great deal of pressure on your shoulders to reduce overheads, keep an eye on profit margins, improve efficiencies and stick to the increasingly stringent carbon reduction targets.

This is where choosing the correct energy supply is important. In the UK, an average small business (with 10-49 employees) spends a staggering £19k a year on gas and electricity – so securing the very best off-grid, commercial energy source and deal couldn’t be more vital to your bottom line.

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4 Things You Must Consider Before Moving Your Business to New Premises

January 7, 2019


Who knows what new heights of growth, prosperity and productivity 2019 will bring for your business? You may well find that this is a transitional year for you. A year in which you outgrow the limitations of your current business model, throw out the rule book and rewrite a new one as you go along. This can be extremely exciting and liberating… It can also be kind of scary! As you take baby steps down the path to sustainable growth you may feel like a novice all over again, grappling with the inherent challenges of growth like you’re still a year one entrepreneur.

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Why You Must Always Do a Background Check Before Hiring any Employee

January 5, 2019


Finding the right candidate to fill a vacant position is more complicated than you think. After all, a new hire can be a big investment for your company. It will require training, time, and money to see if they are truly a good fit for your organisation. You want to ensure that all these resources you’ll be consuming will be for a suitable applicant and not someone who’ll be a complete waste of effort.

Pre-employment screening can help your business make more well-informed hiring decisions. Through DBS checks and reference verifications, you can mitigate risks better in your recruitment process.

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An Ultimate Guide to Choosing the Right Garage Door for Your Business

January 4, 2019


A garage door is an important part of your home or business. It not only protects your home or business from intruders, but also provides comfort and convenience. There are many different types of garage doors in the market, each with unique advantages. Choosing the right on that first your needs, comfort and style is an important before making the decision. The guide below provides details on eight types of garage doors along with their unique advantages to help you find the right one.

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6 Tips for Running a Successful Small Medical Practice

January 3, 2019


“How to effectively run a medical practice,” is one of the most searched items online. The complexity of the query is mainly because medical ventures, unlike typical ventures, have unlimited requirements. However, the universal requirements do not make running a medical practice more effectively a farfetched reality.

The following is a comprehensive guide on how to run a small medical practice effectively.

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7 Powerful Marketing Tips for Small Businesses in 2019

January 2, 2019


For any type of small business, a big part of your success plan for 2019 is going to be your digital marketing strategy. If you don’t have an effective plan for digital marketing, you may miss out on a large number of profit and customer opportunities. The digital marketing arena is constantly in motion, so you need to update your ideas and knowledge about how these strategies will work for 2019. Here are the best marketing tips your business should follow for your new digital marketing plan in 2019.

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