Since March, more than 500,000 applications for employee identification numbers have been submitted. Many people are still pursuing their dreams of opening a small business despite the economic crisis brought by the COVID-19 pandemic. Opening a business takes a lot of planning. This involves identifying the goals of the business, the products and/or services it
Are two heads really better than one? Partnering with another entrepreneur to run a business can be tricky. There are benefits to it like pooled resources, two skill sets, and two people brainstorming to come up with strategies and solutions. However, no two people agree all the time. No matter how peaceful the partnership may
Many companies and employees have celebrated the rise of remote work as one of the few positive effects to emerge from the pandemic. It has allowed people to keep their jobs while enabling continued productivity for organizations. Skeptics have been proven wrong as tasks get accomplished, often with increased productivity. Yet evidence also shows that
Inventory management is the process of acquiring, storing, and consuming a company’s inventory. This process includes the operation of raw materials, components, and finished products. The warehousing and processing of such items are also included. How does inventory management work? A company’s inventory is precious to its business. In many inventory-intensive industries, finished or completed products
A workplace accident can cost your company a significant amount of time and resources such as medical bills, lost productivity, and employee morale. Workplace accidents cannot be 100% avoided all the time because you cannot 100% control unforeseen events, especially if your company handles dangerous jobs such as construction and production. However, just because accidents
In the first few months of the pandemic, when people were uncertain how long the situation would last, people flocked to groceries and hoarded canned food. People have gotten used to industrially processed foods to prepare for emergencies. However, there are healthier alternatives to make food last longer. Back when there were no refrigerators, coolers,
Remote work is the new normal nowadays as we deal with the pandemic. Even your kid’s piano lessons are being done over the internet. While you may think that your remote work setup is fine, the truth is that a lot of remote workers are not getting the most from their situations. For example, they might have
The world-changing events that happened this year posed new challenges to opening a business. It had achieved what years of business analyses had failed to predict and even avert. For one, the pandemic showed that large physical offices are not necessary for a business to operate efficiently. Second, it highlighted a lot of commodities that
Are you planning to switch to remote work? Or maybe you already started working remotely as part of your company’s attempt to keep their employees safe? You may be excited at first knowing you can now spend more time at home instead of increasing your risk of exposure by working outdoors. But what many remote
According to the Chamber of Commerce, did you know that as of 2018, over 30.2 million small businesses are operating in the United States? Only 80% of these small businesses survive during their first year. By the time they reach the end of their second year, only 70% of these businesses survive. The number continues to