Often neglected by us crafters, the paperwork is probably the most vital part of running a business. I have learned to embrace it (not really, but I have trusted others to help me with it) over the course of 3 years of running my own business. Decisions such as renting a studio space outside my home or hiring part time employees wouldn't have been made if I didn't have a clear understanding of how my finances looked like not only on monthly basis, but for the upcoming seasons.
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