A while ago we talked about Turnover and Cash Basis - two important concepts to understand as a small business owner in the UK. Today we're talking about THE most important thing in business - Profit. Without a profit your business is pointless. If you don't have a good handle on the profitability of your business it is very likely to fail. Today I'm explaining all the different types of profit, gross profit, EBIT, EBITDA etc. and also looking at a couple of examples to illustrate the difference between these terms.

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Other videos that might be useful:
What is Turnover:    • What is TURNOVER? Self employed and s...  
What is Cash Basis:    • What is CASH BASIS accounting? UK sma...  

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#Profit #EBITDA #SmallBusiness