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How to Know If You’re Financially Ready to Start a Business

Success

To get all your ducks in a row and ensure you’re ready to jump into creating a new company, you need to craft a robust business plan that accounts for the myriad financial considerations of setting up a business. You wouldn’t show up at the airport without an idea of where you’re going. The Importance of Writing a Business Plan.

Expenses 342
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Business finance: The ultimate guide for non-finance people

BMT Office Administration

A fiscal year simply represents the 12-month period that a business uses for its accounting, taxes, and budgeting purposes. The catch is that a business’s fiscal year does not have to line up with the traditional calendar year. Primarily, if your business venture fails, you’ll lose your entire retirement fund/401k. What’s that?

Finance 105
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The Biggest Financial Mistakes to Avoid in Your 40s

Success

Others may be trying to maximize their retirement savings while filling in the gaps of their parents’ savings. She advises doing a cash flow analysis over a two-year period, which shines a light on seasonal ebbs and flows (such as bonuses or paying for kids’ summer camps). Their expenses go up dramatically from where they were before.”