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Business Advice Blog Posts

By First American Merchant

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5 Money Management Tips to Keep Your Business Afloat

Tough times come and go. Of course, you want your business to be permanent and strong. To muscle through uncertainty and economic downturns, your business will need to adopt and maintain solid money management. If you find handling cash flow difficult and time-consuming, you’re not alone. In fact, nearly half (42%) of small business owners admit managing cash flow is a big challenge. But maintaining working capital is a must if you want your business to succeed, rain, or shine. The following tips will help you learn how to manage your small business’ money effectively and develop good financial habits: […]

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Calculating PPP Loan Forgiveness and Applying

The Coronavirus Aid, Relief, and Economic Security Act (also known as the CARES Act) was passed into law on March 27, 2020. It was known as the secondary response to the devastating economic effects of COVID-19. This new law provided benefits to both individuals and small business owners nationwide.  One of its main components was the Paycheck Protection Program or PPP. This program offers loans that are forgivable for small business owners and to keep their employees on the payroll.  Guidelines For Loan Forgiveness In order for these loans to be “fully forgivable”, borrowers need to ensure that they do […]

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Ensuring Financial Stability Amidst COVID-19

The COVID-19 pandemic is inarguably the biggest trial the financial system has ever faced to date. This worldwide health crisis has produced an unparalleled “macroeconomic shock”, thrusting the global economy into a recession of an undetermined scale and period.  Because of COVID-19’s direct impact on businesses, there needs to be an aim to protect financial stability as well as its “liquidity”. In a time when the markets, operations, and revenue could be fast-changing, business owners must react rapidly to a change in cash and capital.  What You Can Do Now With the current COVID-19 crisis, you need to analyze what […]

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How to Build a Successful Start-up Business: Checklist

Do you have an idea and want to turn it into a successful business? Today, the availability of the internet has opened up new doors for those trying to launch a business. The COVID-19 crisis has highlighted the importance of having an online business once again. So, let’s see what steps you should take for a successful start-up business. Successful Start-up Business: To-Do List  To ensure success for your new business, there’s a to-do list to take into account. So, what does it imply? Go for the right business for you, meaning find a need and fill it. Find a […]

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3 Ways to Support Black-Owned Businesses Moving Forward

After weeks of protests, many Americans have stepped back and are asking themselves some serious questions. Specifically, “What can I do differently”? If you are one of the many wondering how you can make a difference and create lasting change to reduce long-standing racial disparities, one easiest ways to get started is to support black-owned businesses. While this might seem like a small piece of a massive puzzle, it is something that can make a big impact, especially if it is something people continue to do long after the spotlight has lifted from the issue. Here are a few tips […]

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4 Tips to Keep Your Business Going During COVID-19 Crisis

It has been nearly sixth months since the COVID-19 pandemic swept the nation and created massive waves for the economy. The current crisis has created significant challenges for small business owners in particular. Even those that were thriving before the pandemic have felt the effects of limitations or sustained closure. As more and more small business owners wonder how they are going to pay their bills and cover payroll – or stay in business at all – most are having to turn to outside sources of funding. Many are also having to pivot to adhere to health and safety guidelines […]

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4 Things We Can Learn from Female Political Leaders amid Covid-19

It’s sad that we still consider our women second best after men in many aspects of life. This disregard continues even after a woman has worked hard to earn an administrative or leadership role. But Coronavirus has led to a new revelation regarding women and their ability to lead. For some reason, women have shown more resilience and creativity when it comes to surviving a crisis. Perhaps it explains the many recent feminine headlines praising the critical role of women political frontrunners from all corners of the globe. Being a leader or owning a business is not an easy feat […]

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COVID-19-Business Funding For Your Business | The Cares Act

The COVID-19 virus has caused catastrophic damage, amassing tens of thousands of casualties around the world. In addition to the tragic loss of life, the global economy continues to suffer a violent disturbance as millions of people are ordered to stay home and have little contact with others, much less frequent their favorite businesses and shops. As a result, many small businesses have suffered a disastrous loss of revenue, with little hope for recovery. Some may survive the outbreak, but a larger amount may have to shut operations for good. Despite the outbreak’s implications on small businesses, there is hope […]

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Department of Business Oversight – Consumer Alert During Covid-19

DBO – Consumer Alert In light of recent events, the Department of Business Oversight (DBO) urges consumers and investors to be alert to scams and unlawful activities in the investment and other financial services industries.  The DBO encourages investors to carefully investigate any potential investment opportunities at a time when unscrupulous actors will likely try to exploit heightened economic anxieties. Consumers and investors can submit complaints to the DBO at Loan Modification and Foreclosure Scams Homeowners facing foreclosure should be aware of these common scams: Deed-Transferring to Third Party – Scammers have told homeowners that by transferring the deed […]

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4 Steps to Create a Workable Small Business Plan

What makes a great business plan? In addition to writing and covering all the key details, your business plan needs to be workable. Many templates outline the most important and common business plan information you need to include but miss one crucial element: creating a step by step plan. Your business plan is a road map, helping you navigate new territory and maintain your focus on your business goals. You need to not only detail precisely what you intend to do, but also how it will come to fruition. You need a workable business plan. To ensure you create a […]

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