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If you manage a business, regardless of its size, you’ll incur some production costs. Labor costs are a key fraction of these costs, provided you employ workers. As such, it is important for you to understand what labor costs are, how to calculate labor costs, and how they affect your business. You're probably aware of what labor costs and cr...

For a business to thrive and remain relevant in today's world, business owners and stakeholders must put their best foot forward. One of the ways to ensure your business is always ahead is by optimizing operations and workflows. Operational inefficiencies can stump business growth, therefore companies of all sizes and types would benefit greatly a...

Hiring new employees can always be a struggle, especially for small businesses. When looking for the right person, there are some steps you have to take to ensure that you'll get them. You'll need to learn about a few things: how to write an effective job description, understand your small business's branding, finding great candidates, what you're ...

EBITDA isn’t an alien concept – the abbreviation stands for earnings before interest, taxes, depreciation, and amortization. Put in simple terms, it represents the core earnings of a company. It’s a measure of operational performance and business health. When calculating profitability, EBITDA doesn’t take into account thing...

One of the main hurdles for aspiring entrepreneurs is often the lack of capital. There’s also the overwhelming feeling that comes with the thought of having to manage people and handle administrative tasks such as payroll and tax compliance.  However, when you’re just getting started, the admin will be minimal. And with a bit of c...

A leader is an essential core role for everything to work, countries, governments, companies, teams, groups, etc. Leaders provide help of all sorts, clarity, motivation, constructive criticism, new strategies, and much more. A leader can differ. There are many different leadership styles. You can be a democratic leader, or transformational lea...

A Limited Liability Company, also known as LLC, is a much easier business structure to set up compared to corporations, such as an S and a C corporation. It provides flexibility and protection for the owners and shareholders. However, as with all business structures, you should consider all pros and cons of an LLC before deciding to form one. Here...

Trying to decide between an S corp vs. a C corp when incorporating your business could be tricky without knowing the two business-type entities properly. If you also want to know more about a limited liability company, check our devoted article - Pros and Cons of an LLC. There is no one right solution for what is better when considering what struc...

Introduction    Many small business owners find managing payroll a laborious and time-consuming task—especially when relying on traditional systems. Fortunately, digital pay stubs offer an effective solution that can drastically reduce errors and productivity loss in the process. In this article, we'll take a closer look at how ...

Some business practices are not to be neglected for progression. Pay stubs are one of them. The document helps employers keep track of their employee's hours and paychecks. Also, employees can use it to calculate their pay and ensure it’s correct. Making a pay stub is a necessary skill for any business owner. It keeps you in the know of empl...