Traditional bank lending has been fairly dry since the recession hit in 2008, and it’s not difficult to see why. Large institutions such as Bank of America and Chase have reported millions of dollars in small business loans, but critics hold that these credit packages have been reserved for the highly profitable ventures. The market’s just too risky – at least, for massive financial conglomerates.
So what’s a credit-hungry small business owner to do? Where can ...
While economic conditions have shown signs of improvement in recent weeks, most experts agree that employment will remain a consistent problem through 2012 and beyond. However, there may be an upside to this trend.
With so few job opportunities, limited advancement opportunities and stagnant wage growth, many people may start looking to entrepreneurship and self-employment as a means of getting back to work. More importantly, 2012 may be the year this trend really begins to take ...
It’s difficult to over-stress the importance of engaging your customers and maintaining some form of communication with them. After all, your repeat customers are the main line of your business, helping to drive revenue and sales on a reliable and consistent basis. This is especially true for business-to-business sales and marketing.
What’s tricky, however, is that so many purchase decisions are made on arbitrary or irrational data. It’s your job, as both a business owner and ...
The beginning of the year is a good time to review your taxes, namely what your business will owe come tax time. Not to mention, April 15th has a way of unexpectedly creeping up on you. But before you drown yourself in numbers, deductibles, credits and write-offs, it may be a good idea to review some of the basics. From there you can take a look at your specific circumstances, such as business working capital, ...
Sales are perhaps the most important aspect of running a successful business. Without a steady flow of revenue, your business doesn’t have a leg to stand on. Of course, every company has its own way of doing business, and every salesperson has his or her own sales strategy.
But for startups and first-time entrepreneurs with limited sales experience, how does one go about developing an effective sales plan? To start, think about your customers. What makes ...
Ecommerce has been something of a blessing to the retail world, at least in terms of the barrier to entry. It’s true that the industry is dominated by giants such as Amazon, eBay and Groupon, but the space is wide open. Many entrepreneurs have turned to online shopping as a means of implementing an otherwise lofty startup idea.
The ease by which owners can receive orders, ship goods and accept payment makes for a particularly attractive ...
Pricing is a deceptively complicated process for something that boils down to two basic risks: underpricing and overpricing. However, in terms of financing for small business, the consequence of either condition can be immense. After all, the prices you set for your goods and services directly influence your profitability.
For this reason, you need to be clear with yourself regarding what you want out of your business. For example, maximizing profits may not be your chief ...
No one said running a business would be easy. If you entered into it thinking it would be, perhaps you’ve been unpleasantly surprised. Fortunately, most folks with a knack for the entrepreneurial understand this from the get-go. That being said, everyone makes mistakes, and everyone could use a few organizational tips from now and then – just some ideas to help you get your priorities straight.
First, think about your organizational habits…
Is everything in disarray? Have ...
The credit market for small business owners is improving. Earlier this month, Thomson Reuters and PayNet reported that its small business loan index reached its highest level in more than two years in November. While banks’ lending policies are still relatively tight compared to before the recession, the market for small business credit cards is picking up.
However, despite recent legislation, business credit cards remain a somewhat dangerous financing option. The 2009 Credit Card Accountability Responsibility ...
While we might like to think that everyone can pursue the dream of being their own boss, setting their own hours, and doing whatever they want- it just doesn’t work for most people. Entrepreneurship isn’t for everyone. Chances are you probably aren’t cut out for it – and there’s nothing wrong with this. Not everyone is cut out to be a gymnast, or a rock star, or an accountant either.
Passion doesn’t necessarily make things that ...
