Basic Financial Concepts Every Small Business Owner Should Know

Running a small business means you are handling multiple responsibilities. The product or service you sell is only one part of the equation – there is an accounting and finance component to running a business that can differentiate a successful business from a struggling business.  You don't have to be an accounting expert, but  you can save yourself a lot of trouble - and a lot of money - by understanding some of the basics like the time value of money, the difference between cash and accrual accounting, and why only some costs are relevant to business decision making.

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