Self-employed small businesses—or sole proprietorships—must pay federal income tax, self-employment tax, and sometimes, additional Medicare tax on their Schedule C income. By studying various combinations of self-employment income and other income reported on the same return, we find that most small businesses have an effective tax rate between 14.13% and 37.00%. Self-employed taxpayers with wages…
Statistics
20 Zoom Statistics to Know for Your Business
Zoom is one of the most popular unified communications platforms worldwide, with 300 million daily meeting participants recorded in 2020. The pandemic played a huge role in the increased adoption over the last years, as it compelled businesses to shift to remote and hybrid work. With Zoom’s simple interface, robust integrations, affordable subscription plans, and…
History of Unified Communications & Its Future
The history of unified communications (UC) begins in the 1870s, with the invention of the telephone, the most basic communication device, which provided the backbone of voice technology. In the 1960s, the private branch exchange (PBX) was introduced, laying the foundations for efficient call routing. Over the next three decades, PBX systems gained popularity, equipped…
Facebook Ads Cost: Stats, Trends & Return on Spend
Facebook ads cost an average of 51.3 cents for cost-per-click (CPC) and $8.77 per thousand views (CPM) in 2023. Thanks to precise audience targeting abilities, Facebook ads are an effective way to gain brand awareness, leads, and sales. Advertisers only need to spend a minimum of $1 a day to run ads on Facebook, making…
A Brief History of POS Systems
From their first incarnation, the original and primary purpose of point-of-sale (POS) systems was to record the products and services being sold to buyers, receive payment from customers, and keep cash secure. The history of POS systems began in the US as far back as the late 1800s with simple mechanical cash registers. As the…
27 Dropshipping Statistics & Examples
Dropshipping is a retail business model where an ecommerce merchant sells physical products without keeping inventory in stock. In this business model, the retailer is the online storefront where customers purchase goods. They then outsource the entire manufacturing and order fulfillment process to a dropshipping supplier. In this article, we go over key statistics that…
Ecommerce Return Rates: Expert Guide for Small Businesses
The ecommerce return rate measures the frequency of an online store’s returns. It is gauged as a percentage of the total number of sales returned within a certain timeframe. These rates greatly vary between industries but generally depend on product categories (clothing is the most returned category) and the online store’s return policy. In 2022,…
40+ Branding Statistics Every Small Business Should Know
A strong brand enables you to attract and retain customers, stand out from the competition, and build trust and credibility with your audience. From creating a well-defined brand identity and consistently delivering on your brand promise to creating compelling, differentiated messaging, these eye-opening branding statistics will convince you to pay attention to your brand and…