For workers in the U.S., a six-figure income is enough to land you in the top 10 percent of wage earners.1 Looking even higher, the top 5 percent earns an average of $340,000 per year, while the top 1 percent earns an average of $820,000 annually.
Entrepreneurs tend to be natural risk-takers but this doesn’t mean committing to uncompensated risk. A wise entrepreneur considers their potential exposure before leaping into a new business venture, moving forward only on those opportunities that present enough potential upside to make the risks worthwhile. Below, we discuss some financial risks an entrepreneur may face and how they may be mitigated.
As a small business owner, your employees are the heart and soul of your organization. Many entrepreneurs understand the importance of a diverse, inclusive workforce and the benefits it brings, not just to the business, but to the community at large.
Your commitment to hiring practices that uplift veterans, marginalized communities, and those facing barriers to employment is commendable. But did you know the federal government offers incentives that can support and reward these practices?
As a business owner, you may assume you do not need professional financial advice until you hit certain milestones such as $1 million in sales, having ten employees, or some other tangible measure. However, financial professionals may benefit small-business owners no matter what the stage of their business. The earlier you seek financial advice, the …
As a business owner, putting all your profits back into the business may be tempting, especially during the lean years. However, when it comes to saving and investing as a business owner, there are other paths you could consider for the long run without so much emphasis on the short term. Maintain Liquid Assets Everyone …
Running a business requires gaining expertise in many things over a short period—especially financial matters. If finances do not come naturally to you, you may quickly feel like you are in over your head. Fortunately, mastering these skills might be easier than it seems. Here are four key financial skills that all business owners need …