According to US Census Bureau data, the financial crisis of 2008 wiped out over 170,000 small businesses. 2.6 million people lost their jobs during the recession, and the stock market erased $6.9 trillion in wealth. Losses were so severe that recession’s true cost is still unknown. Some experts are predicting that the next big recession…
About the Author
Priyanka Prakash
Priyanka Prakash is Managing Editor at Fit Small Business. In addition to overseeing a team of a dozen writers, she also writes on topics ranging from retail to law to insurance. Priyanka is also responsible for ensuring the efficiency and integrity of Fit Small Business’ publication process. Priyanka is a licensed attorney, and before joining Fit Small Business, she served as in-house counsel at a tech startup. When not writing or editing, you can find Priyanka rollerblading, reading a good mystery, or exploring Brooklyn with her husband and daughter.
Send a Square Invoice – Step by Step Guide
Sending an invoice on Square is free, and allows your customer to pay immediately using their credit card. You are just charged 2.9% + $.30 for the transaction. In this article, we will walk you through how to send an invoice with Square, which is a great feature for any business that invoices clients or…
Square Inventory Items – Step by Step Guide
Adding or editing products using Square’s inventory feature is simple to do from your dashboard on Square’s website or the Square point-of-sale (POS) app on your phone or tablet. If you need to upload multiple products, it’s best to use the dashboard. Otherwise, you can manage your inventory through Square’s POS app from anywhere. Step…
Buy Sell Agreement – Why You Need One, Template, and What to Include
A buy sell agreement, also known as a buyout agreement, is a contract that provides for the sale of an owner’s share of a business. The sale may be triggered for several reasons, such as the owner’s retirement, bankruptcy, unresolvable conflict with another owner, death, or disability. The buyer may be another owner, employee, or…
Obamacare vs Trumpcare: The 9 Key Differences Between the Bills
President Trump took office with the promise of repealing and replacing the Affordable Care Act (aka Obamacare). The House of Representatives passed their proposed replacement, the American Healthcare Act, on May 4, 2017, and now the Senate has released its version, called the Better Care Reconciliation Act (collectively, the House and Senate bills are called…
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7 Trump Proposals That Will Affect Small Businesses
A new presidency always means changes, for better or worse. If you’re a small business owner, you may be wondering exactly how having Donald Trump in the Oval Office will affect your day-to-day operations. Here are some quotes from the man himself on 7 important subjects for small businesses, along with their implications for you…
Best Business Broker: Sunbelt vs. Transworld vs. Murphy
In this article, we explain how three leading nationwide business brokers–Sunbelt, Transworld, and Murphy–can help you sell a business. We will compare the three and tell you who is the best business broker for small business owners. If you’re looking to purchase a business and need financing to complete your purchase, speak with Guidant Financial….
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Find a Small Business Lawyer: Avvo vs. UpCounsel
In this article, we’ll review three companies that are transforming the legal marketplace for small businesses: Avvo, UpCounsel, and Priori Legal. These firms let you view attorney ratings and quickly hire a small business lawyer online at lower rates than a law firm for everything from business formation to immigration help to trademark registration. Disclaimer:…
Debt Service Coverage Ratio – What It Is and How to Calculate It
When you apply for a small business loan, numbers can mean everything. For example, the lender will want to know your income, your credit score, and your Debt Service Coverage Ratio (or DSCR). Debt Service Coverage Ratio (DSCR) measures your business’s ability to repay debt by dividing your net operating income by your total debt…
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Restarting a Business that’s Inactive – What You Need to Know
A small business may become inactive in one of two ways. Your business may become legally inactive if you don’t file required forms or if business licenses or permits expire. Alternatively, even if your business is legally active, you may come to a point where you’re not actively promoting your business or generating revenue. At…
Commercial Loan Calculator: Estimate Your Monthly Mortgage Payments
Have you purchased or will you be purchasing commercial real estate? Use our Commercial Loan Calculator to estimate your monthly payments. Finding the right loan for commercial real estate purchases is critical. If you’ve been in business for 3+ years, plan on occupying at least 51% of the building, and have a credit score above…
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Commercial Leasehold Improvements: Payments, Financing, and More
Landlords often offer payment or a discount on rent so that tenants can make necessary commercial leasehold improvements. Rented commercial property may need some work before it’s suitable for your small business. For example, an office business may need cubicles for employees, and a restaurant may need a new kitchen. These are called commercial leasehold…
