A BIA or business impact analysis emphasizes the most important processes of your company that could threaten your normal business operations in case of a deficit or outage. These processes allow you to evaluate the consequences of a crisis more effectively and devise strategies...
When planning the finer details of your web store, rushing through your financial plan can lead to chaos. It’s important to be aware of how much money you need to spend, and only an extensive finance plan can provide the necessary security for the development of your web store....
“Agile working” is currently one of the biggest trends in the corporate world. It’s seen as the best way to master the challenges of digitalization. How does the agile approach work? What opportunities and risks does it involve? And what role will this hot topic play in the...
A sole proprietorship is one of the easiest types of businesses to set up. All you need to get started is a business idea and a bit of courage. The one-person business does not require registration with the state, but there are plenty of other requirements you will need to...
Even when we don’t say anything, we communicate: Our body language is more or less consciously sending out signals to those around us. Gestures, expressions, and posture often share more than we’d like, including how we feel in a given situation. If you’re able to understand body...
Whether you’re self-employed or employed – a growing number of professionals are working from home and many even set up a dedicated space to perform their job duties. To reduce any resulting financial burden, the costs for working from home can be deducted from your taxes....
Supply and demand determine pricing in a free market. Demand has an influence on supply and vice versa. With no demand, any supply is redundant, and with no supply, demand is ineffective. When they are in equilibrium, prices remain stable and goods are affordable. But how exactly...
If you outline your capital needs for investment in a thorough, comprehensible manner, you will have better chances of obtaining bank loans or publicly subsidized loans. But how is an investment plan structured and what expenses should be taken into account to convince financial backers? We reveal this and explain how an investment plan fits in as part of a business plan.
You would think that deploying a product with minimal functions would be a no-go for start-ups, since the product should reflect the founders’ passion. However, if you take a closer look at the purpose of an MVP, you will see that MVPs and start-ups go hand in hand. This concept plays an important role for many companies as the foundation for agile development. Here you will learn how to use the...
If two or more partners want to start a business together, one of the simplest options is starting a general partnership. This business structure grants equal rights to all participants, but also imposes some serious obligations – namely, since a general partnership is a partnership, this means that the partners have to stand up for the company’s liabilities with all their assets. You should...
An accounting program helps you to organize and analyze your invoices and cost centers, VAT, and other areas of accounting. Cloud-based accounting software is particularly popular for small business owners, since it can offer more, due to the internet connection. Many entrepreneurs and self-employed people have time restraints, so that working with the support of an accountancy program can be an...
Trying to start a business with limited capital? The general partnership can make it happen. The general partnership structure is a good opportunity for company founders to bring their business dreams to life by finally starting their company. According to the definition, general partners share everything: the management, profits, and losses. What exactly is a general partnership, and when is it...
Humans are always producing inventions in the hope of making life easier. If you invent something new, you can apply for a patent. Patent laws are there to protect the inventor’s work since the patent is by definition a property right. But what exactly is a patent, what is its history, and how do you file one?
A central component of running a business is writing business letters. These letters can serve the purpose of external communication: Entrepreneurs write business letters in order to initiate or develop business relationships. If they make first contact, the business letter must enable the recipient to obtain information about the sender’s business. We provide a standard template for business...
Google Workspace is a cloud-based collaboration software that unites multiple Google applications. Every registered user can access project plans, e-mails, and other documents via the cloud, regardless of where they are located. Numerous tools such as word processors, online calendars, or video conferencing facilitate collaboration and synchronize changes in real-time. In this article, we have...
Which products should your company focus on and which are unprofitable? The contribution margin helps you answer this decisive question. Calculating the contribution margin correctly is crucial to the success of your company, by allowing you to draw conclusions about its profit or loss. We explain how to do this properly.
If you run a business or work independently, it’s always important for you to keep an eye on your financial situation. This also applies to payments that you are expecting but have not yet received. The accounts receivable department is responsible for registering and tracking your monetary receivables. We explain what accounts receivable accounting is and how it works.
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