The purpose of a SWOT (strengths, weaknesses, opportunities, and threats) analysis is to look at internal and external factors that affect your business. Strengths and weaknesses are your internal factors; and opportunities and threats are your external factors. A SWOT analysis is a useful tool when brainstorming and doing any form of strategic planning. It can also be used to achieve a specific goal, for example, to respond to a new trend; to take advantage of a new business

Since the start of the pandemic in 2020, several small businesses have struggled and found themselves in debt to cover their monthly expenses. If your business is currently in debt, there are simple steps that you can take to manage your debt. Review your budget Take the last few month’s bank statements to create a basic budget if your business does not yet have one. Consider all sources of revenue and expenses and identify trends such as expenses that have crept up or revenu