A Private Limited Company has become one of the most widely used business entities lately. A Private Limited Company offers protection of Limited Liability to its members and offers greater flexibility in terms of raising funds from private equity. We have discussed the steps for the incorporation of a private limited company in this blog. We can broadly divide the…
Names are an important part of our lives. Our names are our identities and distinguish us from others in society. Similarly, the business names are the identities of businesses and differentiate one business from other. The first and most important thing, while starting a new business, which needs to be decided, is the name of the business. The business name…
When an entrepreneur wants to start a new business, the first question is which type of business entity suits his business. There are many different options of business entities available in India viz., Proprietorship, Partnership, One Person Company, Limited Liability Partnership, Public Limited Company etc. However the major contemplation is between a Limited Liability Partnership and Private Limited Company. Proprietorships…
Most of the Business Consultants, Management Consultants or even Business Owners consider Production, Marketing, Servicing and Finance as core areas of business. In my 25+ years of being an Accountant I have hardly heard anyone saying that Accounting it the backbone of any business. Being in the Accounting Services profession for more than 25 years, I can tell you that Accounting is the…
You need to know a lot in terms of financial statement when it comes to small business accounting in order to make informed financial decisions. One of the most important things where you can start is by understanding the calculation of key financial ratios and its interpretation. Before we jump to understanding of key financial ratios it is important to do a quick refresher to…
Many businesses across the world have taken some tangible steps inspired by the recent shift in customer behavior due to COVID-19 pandemic. We looked at how the big companies are shifting their business models and what the SaaS companies are doing to protect their business during the pandemic. Your best defense is to monitor your cash flowing out of your…
Around half of the businesses fail or shut before their fifth birthday. Why do small businesses fail? What is one of the biggest reasons for business failure? Mismanagement of funds. It certainly doesn’t mean embezzlement, in fact, in most cases the more money is going out of the door than money coming in. This again doesn’t mean that you have…
Entrepreneurs who were broke when they started The toughest part of starting a business is to figure out how to fund it. If you do not have personal funds or angel investors lined up to fund your business, it can feel like an uphill battle. So what would you do if you don’t have cash to fund your business? Does…
As you grow your business you will need advisor for your money management. The question here is, should you hire an accountant or a financial consultant here? It’s very important to understand that accounts and finance both are forms of money management. While finance deals with your investments, mutual funds, stock investments etc, accounts deals with your taxes, receivables, payables,…
Outsourced accounting services have become a great option for small as well as the large companies these days, but are they really great? Here are eight reasons why you should consider using outsourced accounting services for your business. #1 Prebuilt Process Outsourced accounting services means you are buying efficient services as long as the company you work with is an…
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