Category: Business Advice
working capital management

What is Working Capital?

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…

the importance of customer reviews

The Importance of Customer Retention

Customer Retention and Profits. Customer retention is linked to a business’ profits. A study by Fred Reichheld of Bain & Company finds that a 5% increase in customer retention generates over a 25% increase in profits. This is due to repeat customers purchasing more from a…

graduate to bank financing

How Factoring Can Help You Graduate to Bank Financing

When you need working capital to support your small business growth, you may apply for a bank loan or line of credit. Bank financing is desirable for a number of reasons, but often, bank financing can be just out of reach for small business owners. This…

importance of working capital management

Understanding Credit Risk

Now more than ever, it is so important that you increase your working capital in order to protect your business. A recession and global pandemic means that every business is shaken up. It is definitely possible that some of your customers will be unable to pay…

Invoice 1

How Can You Collect Late Payments from Your Customers?

If you sell business to business on credit terms, there is a high chance you have been paid late or not at all by your customer. Late B2B payments are unfortunately common. This is because every small business that sells on credit terms will experience a…

how to negotiate b2b credit terms

How to Negotiate Credit Terms with Your Customers

If you have customers looking for you to grant credit terms, they’re going to typically want 30 days or more to pay. That can be a big drain on your cash flow if you have to wait for them to pay, but more importantly, you have…

cash flow challenges 2021

Overcoming Cash Flow Challenges Right Now

A huge challenge to small business growth is cash flow. The majority of small businesses struggle with managing their cash flow, and cash flow issues are the number one cause of small business failure. 2020 was a rough year for small business owners, and many businesses…

financing unexpected costs

Financing Unexpected Business Costs

Doing business isn’t always perfect. Much like the real world, there are unexpected costs. Maybe your daughter breaks her arm climbing a tree, or maybe your landlord increases the office rent by 10%. Both scenarios may require extra capital that isn’t available. Maybe all your personal…

small business cybersecurity

Small Business Cybersecurity Concerns

Cybersecurity was a huge concern for businesses of all sizes in 2020, and it will continue to be an issue for 2021. The pandemic has caused many businesses to turn to remote work in some capacity. This inevitably opens your small business up to more risk…

business loans

7 Points to Monitor When Managing Your Small Business Growth

If you are looking to 2021 as a rebuilding year for your small business, you are not alone. The rebuilding process may bring its own challenges as you strain your cash flow to manage your small business growth. Here are 7 areas of your small business…