Small Business Finance

Hiring an employee is an exciting step for any business. It usually means things are growing, you're getting busier, and you're ready for some extra help. But before you post that job opening, there's an important question to ask: Can your business actually afford to hire someone?

It happens every year. December rolls around, and suddenly business owners start thinking about everything they could buy before the calendar flips. A new computer. Office furniture. Equipment. Software. Tools for the business. And then comes the sentence we've all heard: "I might as well buy it. It's a tax write-off."

As a business owner, you probably spend a lot of time thinking about everyone and everything that needs to be paid. Employees. Vendors. Rent. Software. Insurance. Taxes. Supplies. And somewhere at the bottom of that list is often… you.

Hiring your first employee—or even your next one—is one of the biggest decisions you'll make as a business owner. It's exciting, but it can also be intimidating.