Business Law Articles

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What Causes a Recession?

Recessions are characterized by decreases in output and employment. In hard times, the economy is affected by wars, pandemics, rising prices and oversupply.

Recession: Definition, Causes, Examples and FAQs

Recession is used to signify a slowdown in general economic activity. They are officially recognized after two consecutive quarters of negative GDP growth rates.

How to Survive a Recession

The key to surviving a recession is reducing your expenses, working hard, and staying calm. During a recession, you should avoid buying things you don't need.

What Is the Definition of a Recession?

A recession is a significant decline in economic activity that lasts longer than a few months. A recession begins when the economy reaches a peak of activity and ends when the economy reaches its trough.

How Long Does a Recession Last?

Recessions over the last half a century have ranged from 18 months to just 2 months. The Great Recession of 2007-2009 lasted 18 months and the COVID-19 recession of 2020 only lasted two months.

How to Prepare for a Recession

Preparing for a recession comes down to using strong economic times to your benefit. Focus on limiting your spending, forming a budget, building an emergency fund and eliminating high-interest debts.

When Was the Last Recession?

According to the U.S. National Bureau of Economic Research the last recession began in December 2007 and ended in June 2009. Although the recession ended in June 2009, but economic weakness persisted.

What is zero-based budgeting?

Zero-based budgeting is a budgeting process where you allocate every penny of your monthly income toward expenses, savings and debt payments.

Skills for Success: 7 Skills to Succeed for Work, Business, and Personal Life

Learn 7 simple skills to succeed in your in your personal life and at work. For example, effective communication is an important skill for success because it helps you convey ideas and collaborate with others.

What Does Net Profit Mean In Business?

Net profit is the amount of money your business earns after deducting the total expense such as operating costs, interest, and tax expenses from the company's total total revenue. In simple terms, net profit is total money earned subtracted by total business expenses.

Types of Adaptability Skills You and Your Team Need

Curiosity skill encourages growth and creativity, making challenges opportunities for learning and innovation. Effective communication skill, organization skill, and teamwork enhance relationships and collaborative success. Resilience skill, powered by confidence and determination, drives perseverance and recovery from setbacks.

What is Statement of Retained Earnings?

A Statement of Retained Earnings is a financial document that represents a company's earnings over a specific period. The statement of retained earnings provide details of the starting balance, adds profits and subtracts losses, account for dividends paid to shareholders, and amount of profit that is reinvested in the company.

What Makes You Tick? Questions to Ask Yourself

The idiom "What makes you Tick" is a question that explores a person's life purpose, passion, and motivation. This article helps you explore what makes you tick with three simple questions to ask yourself.

What Does Prime Interest Rate Mean?

The prime rate is the current interest rate that commercial banks charge their customers with high credit score for loans.Generally, the prime rate is about 3 percent higher than the federal funds rate.

Boomers on the Brink: The Dire Financial Future of Baby Boomers and their Children

Baby Boomers face a financial crisis, with their children confronting inherited economic challenges. Learn about Boomers' shrinking savings, Social Security's uncertain future, and rising healthcare costs endangering retirement dreams.

What Is Cost of Living Raise And How To Calculate It

A cost of living raise is increases in hourly rates or salaries designed to adjust employees' earnings in line with inflation such as increased cost of services and goods. To calculate cost of living raise, employers can apply the percentage change in the CPI to the employee's salary; for instance, if the CPI increases by 2%, an employee's salary would also increase by 2% to match the rise in living costs.

How To Pay Employees

Master the essentials of payroll with our comprehensive guide on how to pay employees, covering everything from setting up payment systems to understanding legal requirements and tax implications." "Streamline your payroll process and ensure compliance with our expert tips on how to pay employees effectively, including best practices for calculating wages, handling deductions, and staying up-to-date with employment laws.

Angel Investors vs Venture Capitalists

Learn the key differences between Angel Investors and Venture Capitalists in our in-depth comparison, highlighting their unique roles, investment strategies, and impact on startup growth and success. Navigate the startup funding landscape with our expert insights into Angel Investors vs Venture Capitalists, understanding their distinct approaches to funding, expectations, and how they can shape the future of your business.

Understanding Gross Margin: Definition, Importance, and Calculation in Business Finance

Dive into the world of business finance with our expert guide on Gross Margin. Learn its definition, understand its crucial role in assessing profitability, and master the techniques for accurate calculation, essential for strategic financial planning and business success.

How To Start A Small Clothing Business From Home

Discover essential steps to launch your own small clothing business from home. Get insights on starting a small clothing business, online marketing strategies, and managing sales efficiently in our comprehensive guide.

What Does Venture Capitalist Mean?

A private equity investor, known as a venture capitalist (VC), provides money to companies exhibiting high growth potential in exchange for an equity stake. A form of private equity, a venture capital fund, is raised from private and institutional investors, including investment banks, insurance companies, and pension funds.

What Does EBITDA Mean?

EBITDA is the acronym for Earnings Before Interest, Taxes, Depreciation And Amortization. EBITDA is calculated by adding back Interest, Taxes, Depreciation, and Amortization expenses to a company's net income.

What Does Current Ratio Mean?

The current ratio, also known as the working capital ratio, measures a company's ability to cover its short-term obligations that are due within a year. The current ratio describes the relationship between a company's assets and liabilities.

All Types of 1099 Forms Explained

The article details the significance and varieties of Form 1099, essential for reporting non-wage income for accurate tax filings. It also advises on managing 1099 forms, including actions if they're not received, highlighting their diverse applications in various financial scenarios.

Character Reference Letter Sample and Tips

A character reference letter offers employers insight into an individual's qualities and character traits through the perspective of a third party.

Which Accounts Are Found On An Income Statement?

Some of the accounts that can be found in the income statement include revenue, expenses such as compensation and marketing, cost of goods sold, and taxes. These reports also include such items as remuneration of the personnel, insurance charges and utilities, which helps to have an overview of the company’s financial health.

Paid Time Off: 10 Examples

Examples of paid time off include vacation leave, sick leave, personal days, holidays, and bereavement leave. Paid time off, commonly referred to as PTO or personal time off, is a benefit wherein employees receive compensation for time not spent working, granted by employers for use at the employees' discretion.

Which Payroll Taxes Are Paid By Employers?

Employers are responsible for various payroll taxes including Social Security, Medicare, unemployment taxes, and potentially state-specific and local taxes. Additionally, they often contribute to workers' compensation insurance and other employee benefits such as health insurance and retirement plans.

Small Business Math Formulas: Simple Steps

Learn essential small business math formulas vital for success in your business. Explore how math formulas assist in data analysis, profit calculation, and enhancement of your business operations.

What Is a Lease?

A lease is a contract for a given length of time where one party agrees to rent an asset, in this case, property, owned by another party, stating the terms under which the landlord will lease the property to a tenant.

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