The asset coverage ratio (ACR) is a crucial tool for understanding a company’s financial health, particularly its ability to pay short-term and long-term debt. It is a financial metric used primarily by creditors and lenders to assess the ability of a company to cover its debts by comparing total assets after current liabilities to the…
Ultimate Guide
A Landlord’s Guide to Property Easements
Whether you’re a seasoned landlord or a new property owner, you may encounter a tricky issue in real estate: property easements. These legal agreements give an outside party access to the property and potentially complicate your ability to maintain full control over it. That’s why I’m here to help you navigate through it—this guide has…
Sustainable Packaging Ideas for Ecommerce Businesses
Sustainable packaging refers to the development and use of packaging solutions that have minimal environmental impact. The importance of sustainable packaging lies in its ability to reduce waste, conserve resources, and minimize pollution—making it crucial for protecting our planet and staying competitive in the current ecommerce landscape. Businesses can enhance their brand image and appeal…
Michigan Business Insurance Guide
While Michigan has its roots in automobile manufacturing, small businesses are still a large part of the state’s economy. When it comes to Michigan business insurance, the state has some one-of-a-kind coverages you won’t find elsewhere. Workers’ compensation and commercial auto are required in Michigan while other coverages, such as general liability, play an important…
The Ultimate Guide to Sole Proprietorship Taxes
A sole proprietorship is the default IRS entity structure for freelancers and contractors who don’t form a corporation. It is also the default for single owners of limited liability companies (LLCs), but they can choose to be treated as a corporation if they prefer. Business income and expenses are reported on Schedule C of Form…
Ultimate Guide for Hiring Gen Z: Recruiting Strategies and More
When it comes to hiring Gen Z, you need to first understand what matters most to them. Members of this generation are known for being digital natives, socially and financially conscious, tech-savvy, and continuous learners. They are also called the most diverse yet loneliest generation—and they are waiting to reshape the workplace. To attract Gen…
Navigating Small Business Health Insurance Costs in 2024
According to the Kaiser Family Foundation (KFF), group health insurance premiums averaged $8,435 for single coverage and $23,968 for family coverage in 2023. Understanding the costs involved in group health insurance is crucial for making informed decisions for any business. When evaluating group health insurance options, employers have to consider key individual costs including premiums,…
Raising Money From Family & Friends To Fund Your Business
If you’re trying to raise money for your business, turning to your friends and family may be a good place to start. Instead of looking to a bank or other lending institution, sourcing funds from friends and family can be more accessible and often allow for better rates and repayment terms. However, lending always comes…