What is a Good Credit score: Tips for Improvement
Business credit scores are some of the most important benchmarks financiers look at before offering lines of credit to businesses. So what is a good business credit score, and what contributes to its calculation? Business credit scores are determined based on business longevity, payment history, and the amounts owed to financial institutions. Lenders often look […]
What is Invoice Factoring: How it Works & Benefits
Invoice factoring, especially for small businesses, has grown to become one of the chosen methods of acquiring much-needed finances. With a market size of nearly $1946.5 billion in the year 2021 alone, the industry is set to grow at a compounded annual rate of 9.4% over the next decade. So, what is invoice factoring? What makes […]
10 Financial Planning Strategies for Small Businesses
Starting and growing your own business from the ground up is challenging but incredibly fulfilling. There is no clear start or end line and no clear set path. Each entrepreneur needs to find their own way to attain their goals. However, it’s not always a smooth ride. Running a small business invariably brings along ups […]
Business Debt Consolidation
During their inception, small businesses need all the help they can get to expand their operations, pursue a new opportunity, or acquire assets. Thus, it’s not surprising that small businesses apply for funding to get their hands on enough working capital to grow. Unfortunately, approximately 70% of small businesses also have outstanding debt. With owners […]
How to Manage Finances in Business
A business owner’s to-do list is never-ending! You may be an expert at building and marketing your products or services, but you may not have the experience to master your business’ finances. When you’re caught up in the daily grind, it’s tempting to avoid the burden and confusion of financial decisions until the very last […]
How to Avoid Small Business Loan Scams
From charity and phishing scams to pandemic debt settlement scams, business loan fraud issues are at their worst ever today, and scammers continue to find innovative ways to prey on the unwary. Many firms rely on business loans, yet business lending is also plagued with scams. Fraudsters operate both within and outside the United States, […]
What Does the Stimulus Bill Mean
Though this is a difficult time for small business owners, there are several bright spots on the horizon that could affect your business in a big way. One of those is the stimulus bill, also known as the CARES Act, that was passed through Congress last month and signed into law on March 27. While not […]
Back to School Business Funding
Kids and teens aren’t the only ones with back to school needs, business owners are searching for back to school business funding, too. Back to school business funding is a loose term that refers to the end of summer needs that business owners have. Seasonal business owners often find, depending on the industry, that their […]
How To Prepare Your Business
For the Coronavirus (COVID-19) Pandemic With the global spread of the new coronavirus, COVID-19, many small business owners and managers are wondering what they can do to keep their employees, clients, and themselves safe from infection. Though there is still a lot of uncertainty involving COVID-19 and a lot more research needs to be done […]
SWOT Analysis What Is It And How To Use It
No matter what stage your business is at, a SWOT analysis can help you strategize and develop your business plan. Why? A SWOT analysis is a compilation of your company’s strengths, weaknesses, opportunities and threats. It may seem like it’s a way to figure out what you already know, but if done correctly, a SWOT analysis can […]