Business Adivce
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The Concept of Value
I have a friend who works as an electrician. Once he was called to fix a switch that wasn’t working. He looked at it, and in less than five minutes he fixed it. After that, he charged him for his services. His customer pointed how come he had to pay that much for a job…
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What is Wealth?
The answer to this questions might seem a little abstract. Usually, when we think about wealth, things like money, properties and other sort of assets come to our minds. However, the definition of wealth is much broader than that. Some books refer to it as the time that you would be able to live in…
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Don’t Only Work Hard, Be Also S.M.A.R.T!
You wake up in the morning determined to start a brand-new day. Your business requires your immediate attention in all areas: providing services or delivering goods to your existing customers, finding new customers, pay to suppliers, administrative work, developing new products… The moment you realise, it’s time to call it a day, have dinner, spend…
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Value-added Tax (VAT)
When I check social media, I hear often freelancers or small businesses complaining about having to pay the VAT they charge to their customers. In countries like in Spain, from the moment you start a business, you’re obliged to collect this tax to your customers and pay it to the tax authorities. In other countries,…
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What is ROI?
You have a pool of available funds that don’t require an immediate use in the company. Then you decide to invest it and you look at different options in the market: stocks, deposits, bonds, a new machine, a computer, a building… It doesn’t matter, the most important is that it meets the definition of an…
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Understanding bad expenses and bad debt
Thanks to the earnings of our company, we may have the desire to buy something that makes us feel good. Maybe a new car or a house, because our family is growing, or that fancy mobile phone that takes high quality pictures and go on holidays to the most remote location on Earth. Sometimes, when…
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Compound interest
When we’re watching or reading the news, we often hear about inflation hitting -once again- the consumer price index and increasing the cost of living. Also, when we ask for a loan, we need to pay a certain interest for it. If we own some stocks or government bonds, we might receive also a percentage…
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Where Does Your Money Go?
Controlling your expenses Welcome to the first article of my blog and brand new website. It’s very exciting to run your own business, isn’t it? You can make your own decisions, obtain the profits and develop in your professional career in the direction you want. However, it can be a bumpy road from the very…
Ruiz Fernandez Business Services 