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What is a Sole Proprietorship?

Sole proprietorships are the most common type of small business in the United States because they are the simplest structure for business owners looking to start and operate a business. If you own a sole proprietorship, the business belongs 100% to you, but you are also 100% liable for anything that happens to your business. […]

Cost of Goods Sold: What is COGS and How Do I Calculate It?

If you own a small business that sells a product, such as food or clothing, you have likely heard the term cost of goods sold or COGS. This metric is essential to business success because if the cost of goods sold is too high compared to revenue, your business could be hemorrhaging cash. Even though […]