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HOW TO PREPARE FOR SMALL BUSINESS FINANCING
February 27th at 10:31pm
Traditional bank funding can be hard to attain, especially for a business acquisition. This is rarely the only form of funding, however, and often involves funding or seller financing in addition. Assumption of debt: With this financing option, you essentially purchase both the business’s assets and liabilities. Planning is the key to getting that business funding you need for starting a business or for business expansion and change. Key Steps to a Successful Business Funding Proposal Gather and Update Business Records. Prepare a Business Plan. No self-respecting business funding can expect to be successful without some kind of business plan. You need…
WHY IS YOUR BUSINESS CREDIT SCORE IMPORTANT
February 22nd at 5:09pm
A business credit score tells funders how likely you are to repay them in a timely fashion. Your scores can be found at Dun & Bradstreet, Equifax and Experian. These scores may help you secure better terms the next time you apply for small-business funding or get an insurance policy for your business. The same way your personal credit score is the key to your personal finances, your score is the key to your business finances, and therefore, plays a large role in the growth and success of your operations. Your business credit score will ultimately be one of the deciding factors that contribute to your ability to secure…
BEST BANKS FOR YOUR SMALL BUSINESS
February 20th at 10:17pm
Having a good bank relationship can benefit you here because if the bank understands your business they may be able to understand fees or you could negotiate lower fees with them. Many businesses have a bank but do not have a banker. Nurturing a good bank relationship can lead to various benefits for your business that can help it grow. It is critical when running a business that you avail of the services of a bank. Many businesses have a bank but do not have a banker. Nurturing a good bank relationship can lead to various benefits for your business that can help it grow.…
Expand Your Business with Merchant Cash Advance
February 18th at 10:15pm
Cash flow issues are a concern for most small and mid-sized business owners. In fact, many small business owners find it difficult to manage growth because of concerns about funds. Having access to the right funding makes it easier to support business growth. There are many different choices out there, but a merchant cash advance might be one you want to consider. Here’s how it works: A merchant cash advance provider gives you an upfront sum of cash in exchange for a slice of your future sales. Instead of making one fixed payment every month from a bank account over a set repayment period, with a merchant cash advance you make daily or weekly payments, plus…
HOW TO GENERATE MORE LEADS FOR YOUR BUSINESS
February 14th at 7:46pm
Every company wishes it had more customers, and there are only two ways of making that happen. Either you reach out to potential prospects or people come to you. The following ideas can be used by businesses of all sizes and most industries. The key is to test and modify to make them work for your customer base. Apply for Small Business Funding 1. Ask for referrals. Referrals are one of the best ways to get new customers. Take charge by implementing a system for actively soliciting referrals from your satisfied customers. Build referral-generating activity into the sales process. 2. Network. Generate…
IS YOUR BUSINESS READY FOR FINANCE GROWTH?
February 13th at 8:24pm
Growth is crucial to the long-term survival of a business. It makes it easier to acquire assets, attract new talent and fund investments. It also drives business performance and profit. Many business owners appreciate that growth is an essential part of building a sustainable business. They also know that trying to grow too fast has been the downfall of many small businesses over the years. The first step is to work out how much financing you’ll need based on your overall business growth plans. Next, meet with your financial partners early on to discuss your plans and brief them about…
BEST WAYS TO MANAGE SMALL BUSINESS DEBT
February 7th at 10:31pm
Businesses, like individuals, sometimes suffer from too much debt. Taking on the right amount of debt – and at the right time – can mean the difference between a business that struggles and one that succeeds. According to the U.S. Small Business Administration (SBA), roughly 50 percent of small businesses fail within their first five years, largely because of insufficient capital, poor credit arrangements and too much debt. If your monthly income and expenditure have become unbalanced, take a step back to look at where the extra expenses are creeping in. You can then make adjustments to your budget so that you can plan…
THE MOST POWERFUL BUSINESS WOMEN IN AMERICA
January 18th at 2:37pm
The number of women-owned businesses increased nearly 3,000% since 1972. Not only that but between 2017 and 2018 women started an average of 1,821 new businesses per day in the U.S. Here are other facts: More than 11.6 million firms are owned by women, employing nearly 9 million people, and generating $1.7 trillion in sales as of 2017.Women-owned firms (51% or more) account for 39% of all privately held firms and contribute 8% of employment and 4.2% of revenues.Businesses owned by women generate $3.1 trillion in revenue. Here are some of the most powerful business women in the USA today to…