Financial Strategies

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How To Generate Money In Your Business During A Crisis, During A Recession, And Beyond

Late last year, the world was shaken up with devastating news. But at the time, we didn’t exactly understand the gravity of the situation. International news channels were discussing it; internet tabloids had it in their headlines. However, no one took it seriously enough. After all, who knew that something that’s happening halfway across the …

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Will EBITDAC Catch on As the New Number to Report?

We don’t think so. Following criticisms on German manufacturing company Schenk Process’s usage of this figure, it appears that EBITDAC is not an appropriate measure to quantify a business’s financial gains or losses. What EBITDAC is? You know EBITDA – earnings before interest, tax, depreciation, and amortization. EBITDAC adds the C for Coronavirus, implying that …

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10 Tips on How to Manage Your Money in a Recession

We are at the beginning of the most significant recession ever to hit the nation and the world. As mentioned in Episode 94 of Uncover Wealth Radio, it’s a deep U-shaped recession. The Coronavirus crisis has stripped us of our capacities to work and make money, and the global economy is taking the blow. Experts can only …

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What is a Recession & a Depression?

The Oxford Dictionary defines a recession as “a period of temporary economic decline during which trade and industrial activity are reduced, generally identified by a fall in GDP in two successive quarters.” On the other hand, an economic depression is “a long and severe recession in an economy or market.” What we can glean from …

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The 7 Biggest Pricing Mistakes You Can Easily Avoid

Pricing is the strongest weapon that you can wield for better profits. Research has shown that it has the most significant effect on a company’s bottom line. A percent of increase or decrease in the price can affect its operating profit by as high as 11%, while cost-cutting by the same 1% has a meagre …

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5 Mistakes Most Small Business Owners Make and How to Fix Them: Run a Successful Business

It takes guts to start a small business. Not everyone is cut out to be an entrepreneur. Even those with entrepreneurial drive hesitate to launch a business, and for a good reason. Statistics show that 7 out of 10 businesses fail within five years, with two of them failing within their first year, and five …

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Can I claim Netflix and Spotify as a Business Expense?

The Wealth Lab is back again! I speak to a number of online entrepreneurs who wants to claim things like Spotify and Netflix for tax purposes – the argument being that they use them for business too. ???? So, perhaps watching documentaries on Netflix, or listening to music on Spotify helps them concentrate.  Although there is nothing actually stopping you …

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