Due to the disruption of small, medium, and large sized businesses in the wake of the COVID-19 response, the Small Business Administration is offering Economic Injury Disaster Loans. These loans are working capital injections that aim to help business owners pay debts, meet payroll, accounts payable, and any other overhead that is disrupted due to […]
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COVID-19 has thrown all small business owners into a panic. 75% of small business owners have 28 days or less of cash reserve. An indefinite shutdown of business is terrifying when that’s the case. I am a small business owner. I know the fear of losing your business, but I work in the financing industry,
Business Funding: Is the Cure Worse Than the Disease? Read More »
What the heck happened over the last few weeks? One day everyone is talking about a theoretical impending recession, and the next, millions of people are losing their jobs. It’s hard not to have the REM song, “It’s the end of the world as you know it” playing over and over in your head right
Three Tips to Protecting Your Business During COVID-19 Read More »
We have entered into uncharted territory. There have been many predictions of some form of recession happening at some point, but we’ve never seen such a rapid shutdown of so many businesses. We don’t yet know what the full impact will be on our economy long term, but with some degree of optimism, we have
Keeping Your Business Going During COVID-19 Pandemic: 6 Tips on How to Get Paid Read More »
The items being shipped have shifted from consumer items like beauty products to home goods and health essentials like food, cleaning supplies, and other necessities during a viral outbreak. These supply chains are vital to keeping people inside and containing the spread of COVID-19, but the challenge facing truckers is the federal restrictions and state
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Trade wars, global uncertainty, and a steady domestic economy make for a lot of talk about business performance this year. Rising costs of materials, uncertainty about international exporting, and cash flow gaps are the biggest challenges for small business owners according to a 2019 Global Business Monitor Report. Even still, small business optimism is high
Can Small Business Expect Growth in 2020? Read More »
On this episode of #TheMoneyFactor, CEO of Eagle Business Credit Ian Varley and CEO of ASC Group Alan Adcock discuss cyber security and top risks to small businesses. There are IT issues that can cost your business and cyber security risks that a small business owner needs to be aware of. Will Anti-Virus Software Protect
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Assess how the business performed in 2019 Prepare an updated business plan for 2020 Involve your staff in setting goals for the year Prepare a simple financial forecast, to include estimated revenue Make sure you have enough money to do what you need to do Review 2019 Business Performance The first step in preparing your
Growing Your Business in 2020 | #TheMoneyFactor Read More »
Causes of Plateau Business plan ill-equipped to support growth Lack of Personnel Financial Constraints Market Competition Growth plateaus are common for any business. Typically, they are a part of the small business growth cycle: expansion, plateau, expansion. Prolonged plateaus could be indicative of a more serious flaw in your business operations, though. If you find
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82% of failed businesses cite insufficient cash flow as a cause. This means that there are periods where the business does not have enough money to cover payroll, supplies, overhead, etc. Typically, this is found in growing businesses. Expansion requires a lot of money to cover upfront costs like product development, new office space, new
Working Capital Loans for Small Business Read More »
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