{"id":2249,"date":"2010-07-06T10:43:27","date_gmt":"2010-07-06T14:43:27","guid":{"rendered":"https:\/\/extension.umaine.edu\/publications\/?page_id=2249"},"modified":"2025-04-11T11:18:46","modified_gmt":"2025-04-11T15:18:46","slug":"3003e","status":"publish","type":"page","link":"https:\/\/extension.umaine.edu\/publications\/3003e\/","title":{"rendered":"Bulletin #3003, Home-Based Business Fact Sheet: Keeping Your Business on Track, Part II"},"content":{"rendered":"\n

By James C. McConnon, Jr., Extension Business and Economics Specialist and Forest M. French, Extension Professor Emeritus.
Reviewed by Louis V. Bassano, Extension Educator.<\/em><\/p>\n\n\n\n

Reviewed by Jason Scott Entsminger, PhD, Assistant Professor and State Extension Specialist<\/em>, University of Maine Cooperative Extension<\/em> (2025).
<\/strong><\/p>\n\n\n\n

For information about UMaine Extension programs and resources, visit extension.umaine.edu<\/a>.<\/strong>
Find more of our publications and books at extension.umaine.edu\/publications\/<\/a>.<\/strong><\/p>\n\n\n\n

<\/a>Financial Statements<\/strong><\/h3>\n\n\n\n

What Are Financial Statements?<\/h4>\n\n\n\n

Financial statements usually include the balance sheet, income statement (sometimes called a profit or loss statement) and the cash flow statement. They are prepared from business records at the end of each accounting period, but they can also be done on a monthly or quarterly basis. Annual accounting periods usually represent a fiscal year or a tax year.<\/p>\n\n\n\n

Financial statements may be either historical \u2014 that is, from records kept over time\u2014or they may be pro forma, which include estimates of future income and expenditures, net worth or cash flow. Annual pro forma statements range from one to five years and are usually required by financial institutions as part of the operator’s business plan.<\/p>\n\n\n\n

What will Annual Financial Statements Do for Me?<\/h4>\n\n\n\n

Balance sheets<\/strong> show you the financial position of your business in terms of assets, liabilities and net worth at a specific point in time. Let\u2019s define these terms.<\/p>\n\n\n\n

Assets<\/strong> are what the business owns. Examples of assets include current assets such as cash, inventory and accounts receivable, and fixed assets such as land, buildings and equipment.<\/p>\n\n\n\n

Liabilities<\/strong> are what the business owes its creditors. They can be current liabilities, such as accounts payable and current portions of mortgage notes payable, or long-term debts such as notes or bank loans payable.<\/p>\n\n\n\n

Net worth<\/strong> is what the business owes its owners. It is the difference between the total assets and total liabilities.<\/p>\n\n\n\n

Balance sheets are usually prepared at the close of your business year. A sample format of a balance sheet is shown in Figur<\/a>e<\/a> 1<\/a>. Remember, balance sheets should always be in balance \u2014 that is, total assets equal total liabilities plus net worth.<\/p>\n\n\n\n

Income statements<\/strong> reflect the annual operation of your business in terms of total receipts and total expenditures. They show the net income or loss for the business. A sample format of an income statement is shown in Figure 2<\/a>.<\/p>\n\n\n\n

Cash flow statements<\/strong> represent the difference between your business income and disbursements. Cash flow statements summarize the cash inflows and outflows of the business. They show cumulative balances and help you identify accumulations of cash surpluses or deficits. This information can help you make good decisions about borrowing money or making short-term investments of the surplus funds. A sample format of a cash flow statement is shown in Figure 3<\/a>.<\/p>\n\n\n\n

Are There Other Uses of Financial Statements?<\/strong><\/h3>\n\n\n\n

All three financial statements \u2014 the balance sheet, the income statement, and the cash flow statement \u2014 can be very useful in analyzing your business using ratio analysis. Selected information from the financial statements is put into a mathematical ratio form and then compared to an industry standard or previous historical information.<\/p>\n\n\n\n

<\/a>Figure 1<\/strong>\n

SAMPLE FORMAT
BALANCE SHEET
Your Company
December 31, 20XX<\/p>\n<\/td><\/tr>

ASSETS<\/strong><\/td>LIABILITIES AND NET WORTH<\/strong><\/td><\/tr>
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Current Assets:<\/strong><\/td>\n <\/td>\n <\/td>\n<\/tr>\n
Cash<\/td>\n$________<\/td>\n <\/td>\n<\/tr>\n
Accounts Receivable (net)<\/td>\n________<\/td>\n <\/td>\n<\/tr>\n
Merchandise Inventory<\/td>\n________<\/td>\n <\/td>\n<\/tr>\n
Supplies<\/td>\n________<\/td>\n <\/td>\n<\/tr>\n
Prepaid Expenses<\/td>\n________<\/td>\n <\/td>\n<\/tr>\n
Total Current Assets<\/strong><\/td>\n <\/td>\n$________<\/td>\n<\/tr>\n
Fixed Assets:<\/strong><\/td>\n <\/td>\n <\/td>\n<\/tr>\n
Land<\/td>\n$________<\/td>\n <\/td>\n<\/tr>\n
Fixtures & Leasehold Improvements<\/td>\n________<\/td>\n <\/td>\n<\/tr>\n
Building<\/td>\n________<\/td>\n <\/td>\n<\/tr>\n
Equipment<\/td>\n________<\/td>\n <\/td>\n<\/tr>\n
Trucks<\/td>\n________<\/td>\n <\/td>\n<\/tr>\n
Less: Accumulated Depreciation<\/td>\n(________)<\/td>\n <\/td>\n<\/tr>\n
Total Net Fixed Assets<\/strong><\/td>\n <\/td>\n$________<\/td>\n<\/tr>\n
TOTAL ASSETS<\/strong><\/td>\n <\/td>\n$________<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Current Liabilities:<\/strong><\/td>\n <\/td>\n <\/td>\n<\/tr>\n
Accounts Payable<\/td>\n$________<\/td>\n <\/td>\n<\/tr>\n
Current Portion Long-Term Debt<\/td>\n________<\/td>\n <\/td>\n<\/tr>\n
Total Current Liabilities<\/strong><\/td>\n <\/td>\n$________<\/td>\n<\/tr>\n

Long-Term Liabilities:<\/strong><\/td>\n		 <\/td>\n <\/td>\n<\/tr>\n
Notes Payable<\/td>\n$________<\/td>\n <\/td>\n<\/tr>\n
Bank Loan Payable<\/td>\n________<\/td>\n <\/td>\n<\/tr>\n
Other Loan Payable<\/td>\n________<\/td>\n <\/td>\n<\/tr>\n
Total Long-Term Liabilities<\/strong><\/td>\n <\/td>\n$________<\/td>\n<\/tr>\n
Total Liabilities<\/strong><\/td>\n <\/td>\n$________<\/td>\n<\/tr>\n
Net Worth:<\/strong><\/td>\n <\/td>\n <\/td>\n<\/tr>\n
Owner’s Funds<\/td>\n$________<\/td>\n <\/td>\n<\/tr>\n
Retained Earnings<\/td>\n________<\/td>\n <\/td>\n<\/tr>\n
Total Net Worth<\/strong><\/td>\n <\/td>\n$________<\/td>\n<\/tr>\n
TOTAL LIABILITIES & NET WORTH<\/strong><\/td>\n <\/td>\n$________<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
\n\n\n\n
\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
<\/a>Figure 2<\/strong>\n

SAMPLE FORMAT
ANNUAL PRO FORMA OR HISTORICAL INCOME STATEMENT
Your Company
January 1, 20XX – December 31, 20XX<\/p>\n<\/td>\n<\/tr>\n

NET SALES<\/td>\n$____________<\/td>\n<\/tr>\n
Less: COST OF GOODS SOLD<\/td>\n____________<\/td>\n<\/tr>\n
GROSS MARGIN<\/td>\n$____________<\/td>\n<\/tr>\n
OPERATING EXPENSE:<\/td>\n <\/td>\n<\/tr>\n
Salaries & Wages<\/td>\n$____________<\/td>\n<\/tr>\n
Payroll Taxes & Benefits<\/td>\n____________<\/td>\n<\/tr>\n
Rent<\/td>\n____________<\/td>\n<\/tr>\n
Utilities<\/td>\n____________<\/td>\n<\/tr>\n
Maintenance<\/td>\n____________<\/td>\n<\/tr>\n
Office Supplies<\/td>\n____________<\/td>\n<\/tr>\n
Postage<\/td>\n____________<\/td>\n<\/tr>\n
Automobile & Truck<\/td>\n____________<\/td>\n<\/tr>\n
Insurance<\/td>\n____________<\/td>\n<\/tr>\n
Advertising<\/td>\n____________<\/td>\n<\/tr>\n
Interest<\/td>\n____________<\/td>\n<\/tr>\n
Legal & Professional Services<\/td>\n____________<\/td>\n<\/tr>\n
Depreciation<\/td>\n____________<\/td>\n<\/tr>\n
Other<\/td>\n____________<\/td>\n<\/tr>\n
TOTAL OPERATING EXPENSES<\/td>\n$____________<\/td>\n<\/tr>\n
PRE-TAX PROFIT (LOSS)<\/td>\n$____________<\/td>\n<\/tr>\n
LESS: TAXES<\/td>\n____________<\/td>\n<\/tr>\n
NET PROFIT (LOSS)<\/td>\n$____________<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
\n\n\n\n
<\/a>Figure 3<\/strong>\n

SAMPLE FORMAT
Monthly or Annual Pro Forma or Historical
CASH FLOW
Your Company<\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
 <\/td>\nAnnual<\/td>\nMonth _______<\/td>\nMonth _______<\/td>\nMonth _______<\/td>\n<\/tr>\n
 <\/td>\nProjected<\/td>\nActual<\/td>\nProjected<\/td>\nActual<\/td>\nProjected<\/td>\nActual<\/td>\nProjected<\/td>\nActual<\/td>\n<\/tr>\n

CASH RECEIPTS<\/strong><\/td>\n		 <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>\n
Cash Sales 1<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n<\/tr>\n
Cash Sales 2<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n<\/tr>\n
Cash Sales 3<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n<\/tr>\n
Other Cash Receipts<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n<\/tr>\n
TOTAL CASH RECEIPTS<\/strong><\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n<\/tr>\n
<\/td>\n<\/tr>\n
CASH PAYMENT<\/strong><\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>\n
Start-Up Expenses<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n<\/tr>\n
Advertising<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n<\/tr>\n
Material Purchases<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n<\/tr>\n
Bank Service Charges<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n<\/tr>\n
Car & Truck Expenses<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n<\/tr>\n
Commissions<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n<\/tr>\n
Dues & Publications<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n<\/tr>\n
Employee Benefits<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n<\/tr>\n
Freight<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n<\/tr>\n
Insurance<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n<\/tr>\n
Principal Payment<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n<\/tr>\n
Interest Payment<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n<\/tr>\n
Laundry & Cleaning<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n<\/tr>\n
Legal & Professional Services<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n<\/tr>\n
Office Expense<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n<\/tr>\n
Rent on Business Property<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n<\/tr>\n
Maintenance<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n<\/tr>\n
Supplies<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n<\/tr>\n
Travel<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n<\/tr>\n
Meals and Entertainment<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n<\/tr>\n
Utilities:<\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>\n
Water<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n<\/tr>\n
Telephone<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n<\/tr>\n
Power<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n<\/tr>\n
Salaries and Wages<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n<\/tr>\n
Other Payments<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n<\/tr>\n
Draw<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n<\/tr>\n
Taxes<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n<\/tr>\n
TOTAL CASH PAYMENTS<\/strong><\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n<\/tr>\n
<\/td>\n<\/tr>\n
SUMMARY<\/strong><\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n <\/td>\n<\/tr>\n
Starting Balance<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n<\/tr>\n
Plus<\/strong>:
Total Cash Receipts<\/td>\n		_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n<\/tr>\n
Less<\/strong>: Total Cash Payments<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n<\/tr>\n
Equals<\/strong>: Ending Balance<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n_______<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
\n\n\n\n

For information on ratio analysis, see Keeping Your Business on Track, Part III: Ratio Analysis.<\/a><\/p>\n\n\n\n

\n\n\n\n

Information in this publication is provided purely for educational purposes. No responsibility is assumed for any problems associated with the use of products or services mentioned. No endorsement of products or companies is intended, nor is criticism of unnamed products or companies implied.<\/em><\/p>\n\n\n\n

\u00a9 2002, 2025<\/p>\n\n\n\n

Call 800.287.0274 (in Maine), or 207.581.3188, for information on publications and program offerings from University of Maine Cooperative Extension, or visit extension.umaine.edu<\/a>.<\/strong><\/p>\n\n\n\n

University of Maine Cooperative Extension is an equal opportunity institution and provider committed to nondiscrimination. For more information, visit extension.umaine.edu\/nondiscrimination<\/a>.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

By James C. McConnon, Jr., Extension Business and Economics Specialist and Forest M. French, Extension Professor Emeritus.Reviewed by Louis V. Bassano, Extension Educator. Reviewed by Jason Scott Entsminger, PhD, Assistant Professor and State Extension Specialist, University of Maine Cooperative Extension (2025). For information about UMaine Extension programs and resources, visit extension.umaine.edu.Find more of our publications […]<\/p>\n","protected":false},"author":3,"featured_media":0,"parent":0,"menu_order":305,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_kad_blocks_custom_css":"","_kad_blocks_head_custom_js":"","_kad_blocks_body_custom_js":"","_kad_blocks_footer_custom_js":"","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"class_list":["post-2249","page","type-page","status-publish","hentry"],"yoast_head":"\nBulletin #3003, Home-Based Business Fact Sheet: Keeping Your Business on Track, Part II - Cooperative Extension Publications - University of Maine Cooperative Extension<\/title>\n<meta name=\"description\" content=\"This is one of a series of publications, 'Home-Based Business Fact Sheet: Keeping Your Business on Track,' designed for the person entering or considering a new business operation.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/extension.umaine.edu\/publications\/3003e\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bulletin #3003, Home-Based Business Fact Sheet: Keeping Your Business on Track, Part II - Cooperative Extension Publications - University of Maine Cooperative Extension\" \/>\n<meta property=\"og:description\" content=\"This is one of a series of publications, 'Home-Based Business Fact Sheet: Keeping Your Business on Track,' designed for the person entering or considering a new business operation.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/extension.umaine.edu\/publications\/3003e\/\" \/>\n<meta property=\"og:site_name\" content=\"Cooperative Extension Publications\" \/>\n<meta property=\"article:modified_time\" content=\"2025-04-11T15:18:46+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/extension.umaine.edu\/publications\/3003e\/\",\"url\":\"https:\/\/extension.umaine.edu\/publications\/3003e\/\",\"name\":\"Bulletin #3003, Home-Based Business Fact Sheet: Keeping Your Business on Track, Part II - Cooperative Extension Publications - University of Maine Cooperative Extension\",\"isPartOf\":{\"@id\":\"https:\/\/extension.umaine.edu\/publications\/#website\"},\"datePublished\":\"2010-07-06T14:43:27+00:00\",\"dateModified\":\"2025-04-11T15:18:46+00:00\",\"description\":\"This is one of a series of publications, 'Home-Based Business Fact Sheet: Keeping Your Business on Track,' designed for the person entering or considering a new business operation.\",\"breadcrumb\":{\"@id\":\"https:\/\/extension.umaine.edu\/publications\/3003e\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/extension.umaine.edu\/publications\/3003e\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/extension.umaine.edu\/publications\/3003e\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/extension.umaine.edu\/publications\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Bulletin #3003, Home-Based Business Fact Sheet: Keeping Your Business on Track, Part II\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/extension.umaine.edu\/publications\/#website\",\"url\":\"https:\/\/extension.umaine.edu\/publications\/\",\"name\":\"Cooperative Extension Publications\",\"description\":\"Information you can use. 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