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The "Startup Roadmap" is a step-by-step, how-to guide for starting a business The Startup Roadmap sponsored by FedEx outlines each step in starting a business with information... Read more

The Regional Foundation Center informs the local nonprofit sector through research, resources, and workshops. The RFC houses Philadelphia's largest publicly accessible collection... Read more

Here are a few things entrepreneurs can do to build strong relationships with angel investors and increase their chances of getting follow-on funding - regular email updates, demonstrate momentum, and teach them something

Your balance sheet helps you understand the relationship between your income and your expenses, so you can maintain profitability. This document will help you become a profit... Read more

As a startup, you’ll need to include a cash flow statement in the financial section of your business plan. “How can I have cash flow when my business isn’t open yet?” you may ask... Read more

Financial projections use existing or estimated financial data to forecast your business’s future income and expenses. They often include different scenarios so you can see how... Read more

The Business Model Canvas is one of the most valuable business planning tools available to small business owners. By creating your own canvas you’ll refine you strategy, alleviate risks, fill planning gaps, and strengthen your business plan.

In addition to all of the concerns with any small business, starting a business from your home has additional issues that you'll need to be concerned with. Read more

The "Startup Basics" is essential for those thinking about starting a business, or anyone who has a business idea but needs assistance in getting focused and organized. Read more

When you start off as a team of one, handling every job to keep your business moving on your own is tough. Most owners dream of the day they can afford to bring on another set of arms and legs.
Hiring an employee is also a big step towards scaling your business and planning for growth. But, when you make the shift from a solopreneur to an employer, the game changes. Suddenly, owners find themselves delegating the day-to-day tasks of running their business in exchange for the internal tasks of managing the business. In the case of hiring, one of those tasks is payroll.

After setting financial goals and a budget for your small business, it's crucial to monitor how well your company is performing. Is it on track to achieving its revenue and profitability goals? Is it controlling its costs?

Even if you’ve contracted the help of an accountant, it’s helpful to develop your understanding of your business’s financial affairs. One way to accomplish that is to become familiar with and regularly review the following reports.

● Profit and Loss Statement
● Balance Sheet
● Cash Flow Statement

When you’ve made the transition from someone else’s employee to being your own boss, you gain the autonomy to create your own professional path. You get additional responsibilities, as well—including paying self-employment tax.

Self-employed individuals are required to not only directly submit the income tax they owe to the federal, state, and local governments, they must also remit self-employment tax to the IRS.