It’s December, and the holidays are upon us. Before you start checking out early to get your shopping done and spend quality time with family, it’s time to get your business in order. Let’s set things up in your business for 2020. Start the new year organized with a plan that will set you up […]

A powerful solution has been proposed to enable the formerly incarcerated to rebuild their lives: help them launch businesses. To achieve that end, the recent introduction of bi-partisan legislation seeks to create a pathway through business ownership. House Small Business Committee Chairwoman Nydia Velázquez (D-NY) and House Democratic Caucus Chairman Hakeem Jeffries (D-NY) announced legislation […]

Entrepreneurship has been on the rise in recent years, and for good reason. Whether it be the chance to be a self-made millionaire, the pride in your own labor, or even just the benefits of being your own boss, there are currently 15 million Americans who are full-time and self employed. That being said, running […]

Whenever tax time comes around, being a small business owner can be stressful. You have to keep track of tax deadlines, distribute your employees’ income statements, and complete your business and personal tax return all at once. With that in mind, you may slip up and make a few tax errors. Here are some common […]

If you’re considering opening a new location, chances are you’ve done a pretty good job building up your business. Maybe you’re seeing steady sales growth or hearing customers complain that they have to travel too far to get to your business. Whatever your reason for considering expansion, congratulations! It should be a point of pride […]

Regardless of how large your business has grown, or if you’re just starting out, everyone needs a few talented human resources. A bookkeeper, someone familiar with taxes in your state, and a registered agent. What is a Registered Agent? A registered agent is an individual (or a company) that’s your official point of contact with […]

By this point (and especially with a federal election just a year away) everyone is familiar with the phrase “small businesses are the backbone of the economy.” However, as the holiday shopping seasons grows nearer, it seems that most of the focus is often on national and multinational corporations. Nevertheless — just in time for […]

The SBA 504 loan program combines two loans―one from a lender, one from a community development corporation (CDC)―that can be used for commercial real estate, and other fixed assets like equipment. The lender portion covers up to 50% of the loan, the CDC portion covers 40%, with the borrower providing the remaining 10%. If you’re […]

There are some types of loans that don’t require personal guarantees, but most lenders require personal guarantees from small business owners. The personal guarantee pledges personal assets to the lender, which it can pursue if the business defaults. It’s required from anyone that signs the loan, and business owners may be able to negotiate it. […]

If you’re trying to qualify for business financing, you’ll have to comply with certain small business loan requirements. Knowing the typical requirements prior to applying for financing can save you a lot of time and frustration as a business owner. We’ve compiled a list of key small business loan requirements. To ensure that you are […]

Irrespective of your business size one thing is for sure that you need to spend money to make money. Now how much you spend and how much you get it back through it totally depends upon how well you do it. This is the reason how you spend your money matters a lot in your […]

As much as we may want to pretend otherwise, the business world isn’t an even playing field. No matter how good an idea or business plan you have, there can still often be a complex mix of social and financial barriers to getting a loan. And, of course, having bad credit never makes getting a […]

As globalization changes the economic stage of the world, businesses at all levels are affected by a fault. This puts the small business at risk due to unforeseen changes. Thus, it is important that for a business to stay afloat, they maintain productivity and efficiency all through its daily operations. However, this is a daunting […]

What is working capital? Working capital is to a business as wind is to a sailboat — sure, you might be able to drift along without it, laboriously paddling to avoid the rocks, but you really need it to make good progress. Working capital is the money (current assets minus current liabilities) that a business […]

Nicole Iacovoni paused to look around the wellness and counseling center she was so proud of, founded in her hometown of Bloomsburg, PA. She'd just realized something: It's all gotta go.  She was only six months into a five-year contract on a 21,000-square-foot, brand-new construction building she'd leased to expand her small therapy practice into […]

Millions of people get excited about the idea of starting their own business. But, the logistics of getting a business started are challenging and complex. One of the earliest hurdles you’ll need to overcome to be successful is getting your business funded. In other words, to fund your business, you need to collect enough money to pay […]

Owning and operating a small business can be a challenging endeavor, whether someone is just starting out as an entrepreneur or they have years of experience. Every owner has a different way to make their business succeed in the community, from offering something new and exciting at reasonable rates to catering to every whim of […]

Average Business Owner Salary The average small business owner salary is $66,373 in 2019, according to PayScale data. Eighty-three percent of small business owners take an annual salary of less than $100,000, and 30% report that they take no salary at all. Small business owners love what they do. From being their own boss to […]

Running a small business is exciting, but also challenging. Even when you’re overwhelmed with managing, marketing, and everything in between, there are strategies you can implement to help you control the chaos and succeed.   Here are a few tips to help you become a successful business owner:  1. Find a mentor Seeking out an expert […]

Whether you’re looking to fund the acquisition, development or construction of commercial property, you will likely need to secure funds through commercial real estate financing. In this article, we detail the different types of commercial financing available to investors and business owners, discuss how these loans can differ based on property and ownership type, and […]

How to make your small business debt-free Most of us have felt that deep, desperate feeling because of debt. The feeling is worse when accruing debt seems to be the reason why you will lose your business. That business you have worked so hard for and have strategized day and night on how to make […]

At some point or another, you may want to obtain a business loan for your small business. Business loans are one of the more common methods for entrepreneurs to get financing, and typically give access to more money than you might get from asking friends or family members. But how much money can you get […]

Small businesses know that mentors are a major driver of growth. Small Business Trends contacted Innovation and Disruption Keynote Speaker Bonin Bough to get some advice SMBs can use. Bough is a renowned marketing executive also known as host of the CNBC show Cleveland Hustlers. The Value of a Mentor Bough starts by talking about […]

At what stage is a business profitable enough to reinvest into the company? Contributing columnist, Kostas Chiotis Reinvesting profits back into a company is a difficult by crucial step for companies who want to grow. Yet, reinvesting profits back into a business is important from day one. Warren Buffett learned about the importance of reinvested profits […]

If you’re like many Americans, you probably don’t startup money sitting in your bank account to cover these costs. That means you’ll have to look elsewhere to find the cash. But where can you look and what can you do? Read on, and we’ll walk you through what you need to know about finding funds […]

In my 12 years working as a business advisor for the Vermont Small Business Development Center, I have found that there is one absolute truth: the majority of hard-working, small business owners do not know how to leverage their financial information to make their businesses more profitable. If you are a member of this hard-working […]

A strong economy drives small business growth–we all know that. However, with a rise in new businesses, we also see an increase in the number of companies turning to factoring. Why? Because growing businesses need ready access to capital and factoring has proven to be a quick and easy way for businesses to get it. […]

The competitive bridge lending space shows no signs of slowing down. In fact, bridge lenders remain well-capitalized, with still more money entering the sector. Bridge lenders appear to have plenty of access to dry powder to continue to satisfy borrowers’ demand for capital to finance transitional rehab and construction projects. “The market is more than […]

Getting a small business loan might be an important step for securing your company’s future. If you need access to funds to cover an investment or to handle your operational costs, then you’re going to want to make sure that you do what you can to get access to funding. Take a look at the […]

Small business loans are often a key component in the success of your business. They enable you to start a business, expand an existing business or purchase inventory and necessary equipment. Right now could easily be the best time for small business loans since the subprime mortgage crisis. The improved economic conditions, combined with a […]

Jill Kesler McCollum remembers a woman who dropped by her office to ask about how to open her own store—filled with angels. A cancer survivor with long white hair, the would-be client of the Small Business Development Center wanted to see if her entrepreneurial spirit could fly. “Not the cherub kind, we’re talking beautiful angels,” […]

Alternative business loans are as common as hamburgers. They’re everywhere and they come in an endless array of styles and flavors. They’re often quick and easy to get when compared with SBA financing. But if you’re not careful, they can be expensive. Alternative business loans: why not SBA? The story of American capitalism is largely […]

Back in the day, I had a client who spent about $25,000 to open an online store only to close it less than a month later. She had access to a large cache of books that she was going to sell (yes, this was long before the complete global dominance of Amazon in books, err, […]

If you already have a business or you’re thinking about becoming a self-employed entrepreneur, you’re in great company. According to the Small Business Administration, there are more than 30 million small businesses in the U.S. By official measures, a small business is a venture that employs fewer than 500 workers. And surprisingly, they make up […]

We artsy-crafty people do not love marketing. But it’s a necessary evil of having your own small business. It needs to be done well and often, and most of us are not good at it. The fact that we don’t necessarily enjoy it just makes it that much more difficult. But there are many lessons […]

By Lauren Adley Starting a new business without any sort of cash is impossible. Nevertheless, launching a startup while disposing of a decent (very decent) budget is extremely achievable. In business, as an entrepreneur, you are investing four main resources: money, time, attention, and energy. Guess what – if you don’t have money, you’ll have […]

The dream of being your own boss is a driving factor for many when it comes to striking out on their own, but the idea of starting a business from scratch without a safety net (financial or skill-wise) can prove overwhelming. The gig economy, which encompasses more than one-third of U.S. workers according to a […]

That time has finally come—you’re ready to start a business of your own. You’ve got an idea to sell the world on, and perhaps you’ve even got some basic goals laid out. But getting started in the realm of business is often easier said than done, and investors are going to want to see more […]

Your business may be small compared to a national chain, but that doesn’t mean it’s a piece of cake to run. As the leader, you make decisions every day that affect your livelihood — all while balancing a limited budget against the needs of your company. Luckily, you can learn what to do and what not […]

Can business run only on cold emails? Who reads emails these days? I know these questions must be popping up in your head. But let me tell you, cold emails can still help you in generating new leads for your business if done in the right way. Use the six steps to grow your small […]

If you’re trying to rebuild your credit, you may have a frustrating puzzle to solve. You know using credit responsibly should increase your credit score, but you aren’t able to get access to credit in order to use it responsibly, since credit card companies won’t issue you a credit and lenders won’t issue you a […]

The time is still right to refinance your mortgage, especially if you bought your home within the last two years, said Mortgage Bankers Association CEO Robert Broeksmit. That's because home loan interest rates are at their lowest point since 2016, Broeksmit said Wednesday on CNBC's "Squawk on the Street." Mortgage rates are down about 1.25% […]

The majority of small businesses require additional funding in order to grow. Companies apply for business loans as a means of obtaining the capital they need. As a business owner trying to grow your company, you need to learn about the common business loan types. They can be confusing and misleading, which is why some business […]

Many people dream of owning a coffee shop. The relaxing smell of coffee, the luxury of being your own boss and making money are quite tempting. But, obviously, you need to run and manage a coffee shop just like any other business; you still need to apply for restaurant business loans, market your business, and […]

As a small business owner, you face a lot of tough questions: If I don’t move enough inventory, how will I make payroll this month? Should I ask for funding help? How do I get a business loan with bad credit? It’s not always easy to find the answers. Our guide will walk you through […]

A business credit card can be much more than a convenient way to pay for purchases. These cards can also provide lucrative rewards, superior fraud protection, and can smooth out cash flow. According to the Federal Reserve’s 2019 Small Business Credit Survey, 52 percent of firms with 1 to 499 employees use credit cards on […]

Ever since the economy began rebounding from the Great Recession, we’ve seen small business loan approval rates at big banks continue to rise. On top of that numerous alternatives have emerged, including online and peer to peer lenders. However a major factor that could inform whether or not you’re approved for a loan is what […]

For small businesses, clients and customers who pay late —  or don’t pay at all — cost precious time and money. As reported by the Associated Press, these clients make owners chase payments and bring in attorneys as well as collection agencies. And small business owners can have an even greater challenge collecting funds from consumers […]

Congratulations! You’ve found the perfect business location for your startup. Whether you found a great cafe space, a convenient office space, or something else, it’s time for you to go into what you’ve been preparing all this time for, and open for business. Once you’ve crossed that off your list, you want to make sure that […]

It’s no secret that over half of small businesses close their doors within the first five years. One of the critical problems that often occur has little to do with the innovation, ingenuity, or work ethic of the small business owners themselves, but rather the lack of access to sufficient capital to cover the ebbs and […]

Cash Flow Shortfalls Hindering Growth? A company with insufficient working capital can have cash even when they have plenty of assets and sales are doing great. Manufacturing companies are subject to working capital challenges because supplier and production expenses usually require payment several months before goods are sold to customers. And then as you grow […]

Startup vs Small Business: The Main Difference While the difference between a startup and a small business is subjective, it often comes down to the company’s growth goals and revenue forecast. Startups focus on disrupting markets and driving top-line revenue at a fast pace. Small businesses, on the other hand, often set their goals on […]

Starting a business is expensive. Upgrading equipment, expanding to new locations and adding employees is also pricey. No matter where you are in the business life cycle, from startup to growth, a business loan can help get you started or address specific needs along the way. A 2019 Small Business Credit Survey by Federal Reserve […]

There are roughly 73 million Millennials in the U.S. Born between 1980 and 1996, Millennials are the largest generation in the workforce, yet many employers struggle to attract and retain them. The U.S. now has more open jobs than job seekers, and the quit rate recently reached a 17-year high. In today’s tight labor market, […]

Running a business is not for the faint of heart, as entrepreneurship is inherently risky. Successful business owners must possess the ability to mitigate company-specific risks while simultaneously bringing a product or service to market at a price point that meets consumer demand levels. While there are a number of small businesses in a broad […]

Those who have served in the U.S. Armed Forces—and members of their family—know a lot about perseverance, planning, and leadership. It’s no wonder, then, that this group of people is well-suited for entrepreneurship. Veteran-owned firms represent 9.1% of all U.S. firms—outpacing their representation as 7.6% of the total population. And they maintain their strong presence […]

Starting a business is fairly easy. However, getting any business off the ground can be a daunting task. Besides, funds are required for the expansion of any business and unfortunately, not many entrepreneurs have the cash they need to expand at hand. However, the entrepreneur is lucky as there are many options for acquiring funds. […]

Many young people are under the impression that they need to gain real-world experience before starting a small business. But that couldn’t be further from the truth! There are more than 25 million entrepreneurs in the U.S. today — and many of them are young people who are still trying to find their way in […]

Many business owners are intimidated by the thought of discussing financing with a bank. Dan Wies is just the opposite: he interviews the banker to see if they understand his business.  “There are a lot of banks out there that say they ‘do’ construction,” said Wies, vice president of a 48-year-old, family-owned commercial drywall contracting […]

If you own a business or you are planning to own one, you should be familiar with invoice factoring. It is a financial transaction and a type of debtor finance using accounts receivables financing. Here’s what it entails; Business owners sell their invoice to a third party known as the factor. If a company needs […]

Try these six expert tips for scaling your small business to achieve optimal results. There comes a time for successful small businesses when they know that they’ve grown beyond their initial dreams and that it’s time to take the next step. For many entrepreneurs, reaching a stalemate at which they’re too busy with current business […]

Did you know that the US houses 664,532 active certified public accountants? That’s right. What’s more, this doesn’t even include the 1.73 million bookkeepers currently operating in the US. These numbers tell you that you have many options if you need to hire an expert to help you with accounting tasks in your small business. […]

David Freedman, Director of Sales, at leading sales and negotiation specialists, Huthwaite International, the team behind the world-famous SPIN® Selling, reveals the five key tactics small businesses should implement to future proof their businesses. You’ve heard it once, you’ve heard it a million times. The digital age has transformed the sales arena. And, whilst many […]

Sales are the key to keeping your business alive. But do you have an organized sales process that consistently generates leads in your business? Or are you chasing anyone whom you think has money to pay you? A common mistake many businesses make is not working on business development daily. This leads to feast or […]

The biggest obstacle facing young entrepreneurs – or, in fact, entrepreneurs of any age – is often that they don’t have the funding to turn their business idea into a reality. There are always upfront costs to manage as well as ongoing expenses which require a pool of resources. While it can seem impossible, there […]

Recent figures in Statista report there’ll be more than 2 billion electronic shoppers from 2021, that is up from 1.66 billion in 2016. With these numbers, you are going to want to make certain to comprehend these eCommerce practices. To start there is no way around with the sort of cellular capacity that can let […]

That company disrupting venture capital just raised more venture capital. Clearbanc has attracted $300 million, including a $50 million equity investment led by Highland Capital with participation from Arcadia, iNovia and Emergence Capital, and another $250 million from limited partners for its third fund. Clearbanc declined to disclose its valuation, but noted the company was […]

What is a Jumbo Loan? The value of a jumbo mortgage varies by state—and even county. The FHFA sets the conforming loan limit size for different areas on an annual basis, though it changes infrequently. As of 2019, the limit was set at $484,350 for most of the country. That was increased from $453,100 in 2018. For […]

Owning a home has great financial benefits. In a recent research paper, Homeownership and the American Dream, Laurie S. Goodman and Christopher Mayer of the Urban Land Institute explained: “Homeownership appears to help borrowers accumulate housing and nonhousing wealth in a variety of ways, with tax advantages, greater financial flexibility due to secured borrowing, built-in […]

Growth and expansion of business are major goals for most business owners. You can expand your business by increasing your customer base, offering new services or introducing new products in the market. Apart from a well-planned strategy, expanding business also requires an adequate amount of capital. In order to obtain sufficient financing for business expansion, […]

Finances can be quite a complicated matter, but thankfully the internet has evolved to encompass features like online banking, taxes, budgeting, track spending, and even loans and mortgages. With a connection to the web, you can gain full control of your finances conveniently and quickly. But with so many different programs, apps, and websites to […]

After you’ve been approved, and before you’ve made any offers, you have to decide how much money you’re going to spend on the purchase of your home. Typically, closing costs are equal to a percentage of the purchase price. There are a lot of fees associated with the purchase of a home including application fees, […]

Here in America we are now in the longest economic expansion in history. That doesn’t mean it’s about to end. But it does raise the question: what happens when it does? When the economic cycle finally inverts into recession, perhaps unexpectedly and with no obvious cause, perhaps because of some geopolitical crisis? We know what […]

Bridge financing is short-term financing, sometimes referred to as private money or hard money. Bridge loans are typically made by private individuals and not banks, so the interest rates on bridge loans are higher than bank loans. The year saw record origination volumes from life insurance companies and the GSEs, and the second highest level […]