Technology is meant to be a productivity enabler whatever industry it serves. The media and investment bankers are so keen on nicknames that they cannot help from creating neologisms to define new sectors or industries. A technology driven sector has to be named SOMETHING-TECH. Playing with words usually helps simplify complex concepts, until it just delivers […]
THE FINTECH PARADOX IN ONLINE BUSINESS LENDING Read More
Applying for a business loan is a significant undertaking, and it’s a good idea to get your business operating as efficiently as possible before asking for a loan. The amount of preparation you’ll have to do really depends on whether you borrow from a bank or a commercial lender. A bank is going to grill
Business Credit Basics: 3 Things You Need to Know Before Applying for a Loan Read More
Alternative, or non-bank, lending got a big boost in 2008 when the mortgage meltdown caused banks to roll up their welcome mats. In that era of recriminations, no bank wanted to go out on a limb and lend to anyone other than the most creditworthy customers. Today, businesses have learned that alternative lending, which includes
5 Common Misconceptions About Alternative Lending Read More
The new year is also the start of tax season, so it’s time for your small business to get organized, file business expenses correctly, and ensure you are getting the correct refund. The details of how to accomplish this depend, in part, on how your business is organized: sole proprietorship, partnership, LLC or corporation. Yet
Tax Season is Here: How to Properly Get Your Finances in Order Before You File Read More
Whether you are a startup or a seasoned company, small businesses rely on cash flow to stay in operation. Budgeting is the primary weapon a business owner has to control cash flow and predict possible shortfalls. If you want long-term success, you must maintain a budget and adjust your operations when budget tracking indicates the
Business Budget Basics: 5 Things you MUST be Doing to Ensure Success Read More
With 2017 upon us, it’s an important time for taking stock of your business’ finances and setting right whatever issues are unresolved. Here are 9 tips you can execute right now to get your finances straight: Update your business plan: Several sections may need updating. What was the last time you analyzed your competitors or
Get Your Finances Straight for 2017 Read More
Talking about money with friends, colleagues, family, or any other relationship that exists is usually topic that is avoided. When running a business, this trend also seems to remain true. Businesses are often reserved when it comes to sharing the company financials with its employees for a variety of fear-based reasons. While every business has
Let’s Talk Money: 5 Ways Businesses Can Maintain Financial Transparency with Employees Read More
We finish this introduction to business finances by discussing the payoff for all your hard work – profit! In particular, we dive into how to use your business’ profits to get paid. Unless you’re independently wealthy, you probably need to extract profit from your company to pay your bills and live your life. Like many
Small Business Finances 101: How to Profit Read More
Income is the life source of your business. All your planning and strategies aren’t going to mean much unless you generate enough income to eventually make a profit. There are two types of income your business needs to track. Gross income is the money you receive from selling your products or services minus the costs
Small Business Finances 101: Understanding Income Read More
We’ll admit that its more pleasing to collect payments rather than make them, but you can organize your business to optimize how you make payments so that you minimize their impact. There are two ways you can optimize your payments – when you pay them and how you pay them. Timing Your Payments A good
Small Business Finances 101: Making Payments Read More