Procurement is the act of obtaining goods and services. Unlike consumer purchasing, procurement is a business process that follows consistent steps for the purpose of filling a need for the company. There are six main steps to the procurement process outlined below. You do not need to get a business degree to become a business owner. However, it may leave ... Read More »
Author Archives: Business First Family
Popular Depreciation Methods To Calculate Asset Value Over The Years
Depreciation is the loss of value over time. Assets often lower in value over the years due to wear and tear. For the average individual, this is most commonly seen in cars and trucks. However, depreciation plays a major part in a lot of finances. Business owners in particular should pay close attention to depreciation because the loss of value ... Read More »
Find The Right Property Insurance Policies To Protect Business Assets
One thing all on-location businesses have in common is their need for commercial property insurance. You do not need IBM business analytics to tell you that. Retail, manufacturing, technology or food, you are going to need this type of insurance to protect your assets. Commercial property insurance is protection against property loss or damage to your company building or belongings. ... Read More »
How Bank Reconciliation Statements Provide Maximum Financial Security
Bank reconciliation is a process performed by a company to ensure that their financial records are correct and match up with the bank’s records. For many new and small business owners handling their first credit card finances on their own, a project like this could seem daunting. However, there are numerous benefits to completing this financial task. Below we have ... Read More »
Types Of Financial Leverage To Consider For Business Funding Solutions
Financial leverage is a business term that is used to describe the debt or borrowing of funds that are then used to purchase a company’s assets. As a new business owner, you may be tempted to take on large amounts of debt in order to maintain costly assets. However, this is not always the right decision. A high financial leverage ... Read More »
How Business Can Rescue A Failing Education System With Philanthropy
Business-education partnerships are a mutually beneficial relationship between a business and a school or community organization as they work toward established goals. These types of partnerships are a great way for businesses to give back through the education system. Some business-education partnerships can be small scale projects involved in a few classrooms or they can involve entire school boards, helping ... Read More »
Hiring Manager Recruitment Tactics To Add Great Employees To The Team
A hiring manager is generally the person responsible for filling positions in a business or organization. They will often sort through resumes, contact candidates and conduct interviews before making a final offer. As a hiring manager, you can know how to negotiate salaries and ask all of the right questions during an interview. But none of that matters if people ... Read More »
Be A Real Estate Developer In Lucrative Commercial Industry In 7 Steps
A real estate developer is someone who buys land and then oversees the development of that land through the building of residential or commercial areas. The business process is complex and often requires a significant risk to be taken on by the developer. However, when done successfully the real estate developer can reap a great reward. If you are interested ... Read More »
Narrow Down Manufacturing Business Ideas To Invest In Most Profitable
If you are interested in starting your own manufacturing business, you may be unsure of where to start. There are dozens of websites that can provide you with a list of various manufacturing business ideas, but which one is right for you? To make sure that you are investing your time and money into a profitable idea that you care ... Read More »
Small Business Insurance Policies To Consider For Affordable Premiums
Acquiring small business insurance can be a complex and stressful endeavor, especially for new business owners. It can be difficult to decide what needs to be covered, and even more difficult to find reasonable premiums that you can afford. However, insurance is an important part of your industry. You want to make sure that you, your company and your employees ... Read More »