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Business Plan Template for a Startup Business

To increase your odds of a successful business startup, download this step-by-step business plan template you can use to plan for your new business. Read more

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Startup Expenses

Nearly everyone who has ever started a business has underestimated the costs, and then faced the danger of running with inadequate capital reserves. The key to avoiding this... Read more

Course on Demand

Simple Steps for Starting Your Business: Module 1 - Startup Basics

If you’re thinking about starting your own business, this module will teach you the basics. You will learn whether business ownership is right for you. Read more

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Two Critical Steps Before Setting Up Payroll for Your Small Business

November 4, 2020

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.

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3 Financial Reports Every Small Business Owner Should Understand

November 2, 2020

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

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Self-Employment Tax 101 for Small Business Owners

November 2, 2020

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.

eGuide

Philadelphia Opportunity Zones

The City of Philadelphia invites and encourages you to be part of its continued evolution, history, and prosperity by investing in our federal opportunity zones. We are seeking... Read more

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How to Find the Right Accountant for Your Small Business

September 11, 2020

Finding the right accountant for your small business is an important decision that deserves careful consideration. Here’s how to find an experienced, qualified accountant who understands your business.

eGuide

FAQs

The following Frequently Asked Questions will provide you with more information about working with SCORE Philadelphia mentors. Who is eligible for free mentoring? Our clients are... Read more
eGuide

SCORE Philadelphia Local Resources

The following links provide access to helpful software and information regarding legal entities, statutes, business income taxes, licenses, permits, ordinances, regulations and... Read more
eGuide

SCORE Philadelphia Microlenders

The following links provide access to microlenders in the Philadelphia area. Entrepreneur Works Loans up to $50,000 for existing businesses, $15,000 for start-ups 400 Market... Read more
eGuide

Non-Profit Resources

The following documents and links provide some insights and directions for forming a non-profit business. Internal Revenue Service Applying for 501(c)(3) Tax-Exempt Status How to... Read more
eGuide

Legal Services

The following links provide access to legal clinics and pro-bono legal firms that can provide helpful information regarding legal services and questions. Philadelphia LawWorks  - ... Read more

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