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 »
I won’t list off all the reasons you may be in need of immediate business financing. There are plenty. There are also plenty of risks to avoid when searching for immediate financing. Typically, your cost of financing will increase for faster approvals. You see this with an online loan versus a bank loan, yet many …
As a small business owner, you are faced with endless options for business funding. You’ve probably considered a bank loan, a line of credit, an online loan, crowdfunding, bootstrapping, or even a merchant cash advance. Maybe you’ve even considered receivables funding like invoice factoring. There is a stigma that the cost of factoring can be …
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 …
When considering a home renovation and shopping for contractors, the age-old advice is to pick two: price, quality, or time. You can finish your back deck quickly and at high quality, but it will cost more. You could also finish your deck inexpensively and quickly, but it will lack in quality. This choose-two dilemma applies …
The 3 Types of Working Capital Funding Strategies Read More »
There are so many obstacles to growing your small business. Having enough money to launch, having the time to plan, and managing the stress that comes along with being an entrepreneur is near the top of the list. Cash flow still stands to be the most important factor is enabling or stalling your business growth. …
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 …
Working capital is the lifeblood of small businesses. You may be making sales and growing revenue, but how does that translate into profit? This is where your working capital and ability to grow without cash flow problems can translate to profit. Having more liabilities than assets on your balance sheet can harm your business in …
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