In general, small businesses allocate 7% to 12% of their gross revenues to marketing. This compares with the Small Business Administration’s suggestion of spending 7% to 8% on marketing. Of that amount, the total budgeted to digital marketing is expected to rise to 45% in 2020 compared to 42% in 2019. The biggest share of […]
Where Should You Spend Your Marketing Budget in 2020? Read More
Small business owners trying to grow their businesses need sufficient capital (i.e., money) to pay for inventory, marketing, equipment, and other vendor-related items. But owners must also have enough capital to pay for operational expenses like rent, utilities, and labor. And let’s not forget about the owner’s salary or draw. After all, most owners rely
Finance 101 for Small Biz: Debt vs Equity Read More
Every business needs adequate funding to survive and grow. Ideally, your operations provide enough cash flow to handle all your funding needs. But for many a small business, cash flow isn’t always enough to satisfy the need for working capital. That’s when it’s time to consider a business loan. Let’s look at a few scenarios
When a Loan Is the Right Move for Your Business Read More
Every business needs a strong business plan. Whether your motive is to attract potential investors or to have to a clear direction, your business plan is critical for your success. However, writing a business plan isn’t that easy. There are plenty of free online templates to help you out, but they don’t include all of
7 Things to Know When Writing Your Business Plan Read More
Are you looking to secure a loan to grow your business? The numbers aren’t exactly encouraging when it comes to approval rates. Alternative lenders approve around 56 percent of small business loans, while traditional banks (who have less experience with non-collateralized loans) only approve around 27 percent. Despite these somewhat disheartening statistics, there are several
5 Keys to Qualifying for a Small Business Loan Read More
Many business owners haven’t had the opportunity to attend fancy college programs in business and finance. Nonetheless, there are many terms related to loans and credit that you need to understand, especially if you are about to apply for your first business loan. Here is IOU Financial’s rundown of important lending terms. ACH Transfer: An
Lending Terms Business Owners Need to Know Read More
There are a plethora business opportunities in the world today, many of which did not exist decades ago. As technology advances, many digital trends influence the types of businesses that pop up. Even on social media platforms, there are businesses that cover how best to manage social walls and increase followers. One thing is important
4 Ways Business Loans Support Your Financial Status & Help You Achieve Your Goals Read More
As exciting as launching your own business can be, it’s important to remember that success rarely comes for free. The saying “you need to spend money, to make money” is one that often comes up in the entrepreneurial world. However, while many would-be business owners know that they’re going to have to tap into their
The Hidden Costs of Starting a Business to Look Out For Read More
We are often asked whether now is a good time to take out a business loan. Our answer is usually, “It depends.” Let’s explain. Two sets of factors figure into the timing of a business loan – macroeconomic and microeconomic. We take a closer look below. Macroeconomic Factors In general, it’s a good idea to
Is Now the Best Time for a Business Loan? Read More
Atlanta Movie Tours got its start because Owner Carrie Sagel Burns wanted to show off all the great filming locations around Atlanta and beyond. Since its beginning five years ago, the business has expanded to showcase all the great filming that happens around the Metro area, and has a retail gift shop downtown. Not only
Continued Expansion with Small Business Funding Read More