Category: Business Advice
customer nonpayment

Warning Signs Your Customer Could Be In Trouble

You’ve worked hard to make that sale. You’ve delivered the goods. Congratulations. It took effort to nurture that relationship. Now you need to get paid as otherwise you’ll be in trouble. You have bills to pay, and people rely on you. How do you get paid…

the importance of customer retention

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…

change factoring companies

Things to Know When Changing Factoring Companies

If your business needs are unmet, it’s easy to see the grass as greener on the other side. Be sure that the factoring company you switch to can provide the customer service, funding, and support your business needs. Otherwise, you’re wasting the time you can channel…

removing a tax lien

Funding Through an IRS Tax Lien Against Your Business

When your business forgets or cannot afford to pay taxes to the IRS, they can file a lien against your company. What is a tax lien? It’s a government claim on your assets over other creditors. Failing to file on time and failure to pay your…

business loans

Customer Relationships and Invoice Factoring

Many growing businesses considering accounts receivable funding have concerns about how a factoring company will affect their customer relationships. Will they think my business is struggling? Will they be hunted down by my financier for late payment? Will they be uncomfortable not paying my business directly?…

startup funding

Startup Business Funding

Startup businesses are tricky. Some advice is to never stop searching for capital to grow your business. Some advice is to only secure the funding necessary to get a product out, then start another round of fund raising. There is no one right answer, and the…

accounts receivable funding

Managing Your Accounts Receivable

Most businesses fail for the same reason. They don’t manage their cash flow and simply run out of money to pay their bills. It’s often hard for a small business to obtain affordable funding, especially in the first few years of trading unless the owners have…

Startup Funding

Startup Challenges

Launching a startup business comes with challenges. The United States sees over 600,000 new businesses launching each year. Of these businesses, a quarter will fail in their first year, and only half will make it to their fifth year. No one wants to pour their passion,…

Protecting Businesses From Exploitative Lending Practices

Your small business growth relies on available cash. You understand this. Lenders understand this, and some lenders aim to take advantage of this. Lending practices with unfair repayment terms, disproportional interest rates, and high advances can not only ruin your business but also your personal financials.…

business credit time

Business Credit and How to Get Funding

Invoice factoring and the amount available for funding relies on your company’s sales rather than the time you have been in business, personal credit score, or business credit score. Only 46% of businesses received the full amount of financing sought according to the 2017 Small Business…