Majority of the time entrepreneurs enter the world of business with certain built-in skills. From being a natural salesperson to generating ideas that have the potential to sell themselves – they often are highly intelligent people. Did you know that Financing Your Way offers startup business loans for bad credit guaranteed to qualifying customers? There are still business owners who are new to all of this and find it hard to understand the basic financial terminology and the finance industry in a whole. Being the owner, you will have to learn the ways you can speak the financial language and opportunities you can research to grow your business. To learn how we offer startup business loans for bad credit guaranteed at Financing Your Way, visit our website. We want to share a few important terms that will help you on your journey to achieving a better understanding of your small business.
Assets
This is the term that defines everything that is of value to your business. It is used for operating a business and involves everything needed to run it. For example, office supplies, cash, real estate, and office computers, are all assets. Do you currently have assets or are you just getting started? Call Financing Your Way today if you have an interest in customer financing programs to further grow your business.
Liabilities
This is the complete opposite of assets. It is what your business owes and includes outstanding debts like long-term loans, utility bills, monthly rental expenses, etc.
Cost of Goods Sold
The expenditure that your business has incurred to provide customers with goods or services. This will include the cost of raw material, the total cost of labor, and so on.
Cash Flow
The overall movement of cash or funds in the business every month. It comprises of both income and expenditure. What cash flow do you currently have coming? If you are in need of startup business loans for bad credit guaranteed, contact us today.
Capital Expenditures
Anything that is bought for the purpose of running a business and will deliver value for more than one year is called capital expenditure. The list of things included in this list is machinery, computers, real estate, and much more.
Bottom Line
It stands for either net profit or net income. This term helps to define the amount of money that you are left with at the end of the day. The numbers will appear at the bottom of your daily balance sheet. Net income stands for total sales after subtracting direct cost and net profit.
These are some of the very important terms that you need to be aware of while running a small startup business. If you are interested in taking your startup to the next level with offering customer financing programs, Financing Your Way is the company to contact.