Starting a company can be both exciting and chilling. On one hand, a person is driven by fresh ideas and passion for their craft. On the other hand, you need to go through various complicated processes to put your business on the map.  One such thing is a business license. Many businesses require it to provide services, sell goods, etc. So, how do you get a business license? Read on to find out as we explore different types of business licenses and what challenges you may face when obtaining one.     What is a business license? A business license is a

Work is not just about 9-to-5 tasks, calls, and meetings. Sometimes, other matters are at hand, and you need to be aware of your options. For instance, you may need to receive your salary earlier to pay for unexpected expenses. It is what a salary advance is used for. Still, salary advances have benefits and drawbacks. This article will explore the pros and cons of a salary advance request and explain how it works.  What is a salary advance? A salary advance (sometimes called payroll advance) refers to a situation when a business allows its employee to receive a portion

Online casino games are by far the most convenient way to use a casino. There is no need to waste time going to crowded brick-and-mortar casinos or another country. No wonder the iGaming market is expected to reach over $136 billion by 2029, showing a stable annual growth rate (2024-2029) of 6,20%. There are different types of such companies, so our Genome team dedicated an article to specific online casino games offered by pay-by-mobile casinos. Such iGaming businesses found their rightful niche on the market. Today, the use of smartphones for various tasks is unprecedented, thanks to their accessibility and

The hot summer season has just begun, and Genome is bringing in new educational articles that are just as hot! This month, we covered various insightful topics for businesses and individuals navigating the financial landscape. Read on to find out more.  Brush up your knowledge of SWIFT transfers Recently, the Genome team introduced international transfers for our business wallet users, including SWIFT, the king of global payments! So, now is a great time to test this money transfer option. But what if you want to know more about how SWIFT payments work and why they benefit your company? Well, Genome

Managing a business is not only about producing products and making a profit. Mutual respect and trust between employers and their staff are crucial to the company’s success.  That’s why a business owner and their salaried employees need to understand the concepts of gross salary (gross pay) and what it consists of. In this article, you will learn more about gross pay and how it differs from net pay.   What is a gross salary? Also known as gross pay, gross salary is the term that describes the individual’s total earnings (based on hourly rate, monthly salary, etc.) before any expenses

Cryptocurrency: the basics When you think about money, your first association will likely be physical cash or bank cards. However, times are changing, and more types of payment methods are emerging for people’s convenience. One of the newest additions to the trend is cryptocurrencies — funds that only exist in digital form and operate on decentralized networks.   Unlike more traditional payment options, cryptocurrencies are considered more private, as they are generally not regulated by traditional financial institutions. In most cases, they operate based on blockchain technology, like the famous Bitcoin.  Cryptocurrencies are stored in digital wallets, the ownership of which

One of the main things a company needs to keep a close eye on to stay afloat is different numbers and metrics. One such metric is the cost of goods sold, which represents how much money a business will need to spend to produce its goods. Calculating and accurately planning your expenses related to production costs will save you a lot of headaches in the future — and money, of course. Find out the formula for the cost of goods sold and a step-by-step calculation guide.  What is the cost of goods sold (COGS)? The cost of goods sold is

Are you ready for major product updates and new informative articles? That’s right, Genome’s new month in review is here! Find out what was new in May before diving headfirst into summer!  Go international with a new transfer option for business!  This is the most exciting announcement in May! International money transfers are now available for Genome’s business wallet users. Check if your company is eligible to receive and send such payments, and try them yourself!  SWIFT is the primary option for transferring money internationally. In addition, an Intelligent Routing System is used to reroute your payment to the most

The online gambling industry grows year after year, becoming more lucrative. Just look at the numbers: in 2018, the total revenue of the online gambling market globally was $36,8 billion, reached $89,3 billion in 2023, and is projected to hit $136,3 billion by 2029.  It takes a lot of effort to set up something like a sports betting company or an online casino business and plan out all your expenses. So, how much does it cost to start an online casino? And how much is a gambling license? Read on to find out!   Overview of the costs involved in starting

Financial management, although sometimes overlooked, plays its role in the company’s success. It is especially the case for small businesses and partnerships (such as a limited partnership, limited liability partnership, general partnership, or other business types), where all the main financial operations and processes need to be quickly established and transparent.  This is why such companies might look into opening a joint business bank account to simplify their experience and ensure future growth.  Learn more about how joint business bank accounts work and how Genome’s shared business account allows our clients to manage their business finances with their team.    What