There are many excellent reasons for starting a business: being your own boss, loving what you do and enjoying the challenge of getting your enterprise up and running. But at the end of the day, you need your business to make money. Now that you know that your business idea has legs, it’s time to see if your business makes sound financial sense.
Break-Even Point
The break-even point is the time at which your business revenue will equal total expenses -- the point at which there is neither a profit nor loss. A breakeven analysis is used to determine when your business will be able to cover all your expenses.
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