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.
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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
Whether your business sells products or services, using Square‘s inventory item feature will save you a lot of time at checkout. Before adding Square inventory items, you need to be familiar with how to process a sale on Square and create and send an invoice on Square. If not, read the linked the articles and come back…
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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Top 20 Nonprofit Fundraising Ideas
The holidays are a time for giving, and that’s true whether it’s buying your child a toy or giving to charities. According to the National Center for Charitable Statistics, the holidays are dubbed the “giving season” in the nonprofit world because donations increase at this time of year. Approximately 42.7% of high net worth donors…
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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:…
How to Buy a Business: The Ultimate Guide
Here at Fit Small Business we have written over a dozen articles on how to buy a business. In this ultimate guide, we bring together all the resources on buying and valuing a business into one place. This guide covers the following: Where to Find Businesses for Sale Questions to Ask When Buying a Business How…
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What Is a Personal Guarantee? And How Do I Negotiate One?
A personal guarantee is a signed promise to a lender, backed by your personal assets, that you will repay a loan. Based on our own experience at Fit Small Business, more than 80 % of business loans require a personal guarantee. It’s important to understand what it means to sign a personal guarantee because it…
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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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