Most Profitable Small-Business Industries in 2018 Accounting, Tax Preparation, Bookkeeping and Payroll Services: 18.4% Accounting, Tax Preparation, Bookkeeping and Payroll Services: 18.4% Image credit: Shutterstock “The accounting industry is consistently a top performer on our list,” says Sageworks’ Weaver. No matter how the economy is doing, everyone needs accountants. Also, this industry tends to have low overhead and repeat clients. Management of Companies and Enterprises: 15.5% Management of Companies and Enterprises: 15.5% Image credit: Shutterstock This industry is made up of small, privately-owned offices of bank holding companies and other types of holding companies. Some well-known examples of holding companies (that do not fall into the small-business category) are Warren Buffett’s Berkshire Hathaway and Carl Icahn’s ICahn Enterprises. Offices of Real Estate Agents and Brokers: 15.19% Offices of Real Estate Agents and Brokers: 15.19% Image credit: Shutterstock While the real-estate market is largely dependent on the health of the economy, real-estate brokers and agents have low operating costs and all you need to get started is an agent or brokerage license. Automotive Equipment Rental and Leasing: 14.55% Automotive Equipment Rental and Leasing: 14.55% Image credit: Shutterstock With the on-demand economy on the rise, Sageworks analyst Libby Bierman says that people may be leasing and renting more cars using on-demand services such as Zipcar -- along with more traditional rental services such as Hertz.
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Writing the Business Plan: The Financial Plan The Financial Plan Section of the Business Plan It's at the end of your business plan, but the financial plan section is the section that determines whether or not your business idea is viable, and is a key component in determining whether or not your plan is going to be able to attract any investment in your business idea. Basically, the financial plan section consists of three financial statements, the income statement, the cash flow projection and the balance sheet and a brief explanation/analysis of these three statements. This article will lead you through the preparation of each of these three financial statements. First, however, you need to gather together some of the financial data you'll need by examining your expenses. Think of your business expenses as broken into two categories; your start-up expenses and your operating expenses. All the costs of getting your business up and running go into the start-up expenses...
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