As a small business owner, things like financing and credit scores are on your mind. Every business needs a steady source of financing and strong cash flow. Business owners with bad business or personal credit also need to finance their business. When a bank might reject an application for bad credit, other financing options are …
If you pay attention to economic news, you may be concerned at an impending recession. There are some signs that we will see a period of recession soon. This does not mean you should panic and lay off half of your team. Instead, there are 3 main things you should do right now to recession-proof …
Being the owner of a small business means you have some experience with rapid business growth. One day it’s business as usual, and the next it’s wondering how to fulfill a massive purchase order for a major client. Meeting higher sales volumes means having more employees, supplies, and ultimately cash to support this growth. Growth …
Business Essentials: Managing Rapid Business Growth Read More »
Growing businesses can find themselves strapped for cash. This is because expansion means rising costs in overhead, supplies, and payroll. 82% of business failures are caused by cash flow, so it’s important to trim down the unnecessary costs of business. Even running a lean operation, chances are that there are areas in the budget to …
You finally did it. You dropped everything, you worked hard for years, you planned everything out, and now you are opening your very own small business. This is an exciting time, but it is crucial that you continue to work hard and take it seriously. Even with all the enthusiasm and best intentions in the …
3 Common Mistakes That Small Business Owners Make Read More »
Employee retention is increasingly important to businesses both large and small. With low unemployment rates, companies are competing for both attracting and retaining top talent. It costs an average of 33% of an employee’s salary to find a replacement, and it can increase to 50% when factoring in the loss of productivity, time spent training, …
A traditional bank loan, a second mortgage, and a Small Business Administration loan are all great financing options for your new or existing business. The catch is the high standards for approval, personal liability, and the time it takes from application to first funding. What can a small business owner do when you need money …
Small businesses recovered in 2021 compared to 2020 performance, but what does 2022 hold in store for small business owners? Supply chain, employment issues, and inflation are all certainly concerns for small business owners this year. How can you prepare your business for the 2022 challenges? Here are small business tips for 2022 small business …
2022 Small Business Growth: Tips on Preparing for the New Year Read More »
Invoice factoring services is a brilliant way of financing opportunity. If a company otherwise would have to turn down a new sale, factoring can help. If a business is financially strained from growth, factoring helps! This article will look at some of the things to look out for with invoice factoring services. Here is what …
Things To Look Out For When Dealing With Invoice Factoring Services Read More »
Only 50% of small businesses survive past their fifth year. This statistic should not discourage entrepreneurs from starting their own business, however. Business failure is not wholly representative of a bad product, a bad market, or a bad business plan. Instead, it comes down to cash flow. If your business makes $10,000 in monthly sales …
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