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…
3 Common Mistakes That Small Business Owners Make
You finally did it. You dropped everything, you worked hard for years, you planned everything out, and now you are opening your very own small business. This is an exciting time, but it is crucial that you continue to work hard and take it seriously. Even…
How To Increase Employee Retention:
Employee retention is increasingly important to businesses both large and small. With low unemployment rates, companies are competing for both attracting and retaining top talent. It costs an average of 33% of an employee’s salary to find a replacement, and it can increase to 50% when…
How to Find Money Quickly For Your Business
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…
2022 Small Business Growth: Tips on Preparing for the New Year
Small businesses recovered in 2021 compared to 2020 performance, but what does 2022 hold in store for small business owners? Supply chain, employment issues, and inflation are all certainly concerns for small business owners this year. How can you prepare your business for the 2022 challenges?…
Things To Look Out For When Dealing With Invoice Factoring Services
Invoice factoring services is a brilliant way of financing opportunity. If a company otherwise would have to turn down a new sale, factoring can help. If a business is financially strained from growth, factoring helps! This article will look at some of the things to look…
Accounts Receivable Management
Only 50% of small businesses survive past their fifth year. This statistic should not discourage entrepreneurs from starting their own business, however. Business failure is not wholly representative of a bad product, a bad market, or a bad business plan. Instead, it comes down to cash…
How to Qualify for Working Capital Loans
A working capital loan can be a great way to receive a quick influx of capital for your business. Although there are a lot of loan options for small businesses, many of them require long-term payments, and the requirements are sometimes fairly demanding. For many companies,…
Overcoming Current and Future Small Business Challenges
I’ve been in the industry for almost 30 years like my guest, Kris. I can honestly say we’ve been through a lot of recessions before, but I don’t think either of us have ever experienced an overnight shutdown of the economy quite like this one. I…
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…