As the first white paper in the Enterprise Benchmarks series, "Finding Funding" notes, most small businesses face the prospect of finding funding at some point in their existence.
The second Enterprise Benchmarks white paper, "Building Your Knowledge Base," focuses on the importance of building a knowledge base that provides credible business intelligence and gives you the information you need to make critical business decisions about issues such as labor, technology, competition, growth, and more.
No matter what its products, services, or specialization, every business has a supply chain. Materials, information, and finances flow through a process from raw materials or resources to finished products or services to delivery to the end user or customer.
Most new businesses go through a progression of growth stages, starting with "existence," advancing to "survival," and culminating in "success," according to a classic case study on small business growth published in Harvard Business Review in the 1980s.
For more information, go to Enterprise Appalachia: The Real Story on Ohio’s Taxes.
1. Data Source(s): Ohio Department of Development; State of Ohio Department of Taxation, Commerce Clearing House, Federation of Tax Administrators, and each state’s department of taxation and/or revenue.
2. Examples only consider direct state business taxes. The examples do not reflect the application of various local business taxes (i.e., real and personal property tax, local business tax) as well as local service charges and user fees).
3. Case #1: Total sales (i.e., net gross receipts) of $1,000,000; expected profit margin of 5.0%, with 100% of sales in-state; purchase of $500,000 in personal property (required for State of Michigan tax calculations).
4. Case #2: Total sales (i.e., net gross receipts) of $5,000,000; expected profit margin of 5.0%, with 50% of sales in-state and 50% of sales to out-of-state customers; purchase of $1,500,000 in personal property (required for State of Michigan tax calculations). In addition, the State of Ohio Revised Code Section 5751.01 requires the commercial activity tax is paid by all businesses that either: