February 15, 2010 
This entry was posted on Monday, February 15th, 2010 at 9:01 pm and is filed under Profits, Small Business, Tips. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
Come up with a suitable financial report even if you only have a small business. A profit and loss statement for small business is simply the gross revenue you made during a certain period of time minus all your expenses. If your revenue is bigger than your expenses, then your business has profited. If it’s the other way around, then you incurred losses.
Still, even if the latter would be the case, especially if you’re just starting a small business, it’s not always a total loss. It is said that for every ten businesses, eight will fail on the first year of operation. If your losses on the first year are manageable, ROI would be expected on the second year of operation while a considerable profit is expected to finally come during the third year.