A recently passed bill in the House of Representatives has many small business owners breathing a sigh of relief. This new legislation, the Paycheck Protection Program Flexibility Act, addressed concerns expressed by entrepreneurs across the country. These business owners have been adamant that changes needed to be made around loan forgiveness – one of the main attractions of the Paycheck Protection Program (PPP). The PPP was initially created by the CARES Act, the $2.2 trillion coronavirus relief law. In early April, forgivable loans were first issued through this Act to small business owners struggling to stay afloat during the current […]

As the current coronavirus pandemic continues, businesses are finding themselves in a tighter and tighter position. Most have had to either shutdown for a period of time or completely alter their service and product delivery methods. Restaurants, salons, retail stores, gyms and many others have had to quickly adapt and find creative ways to still engage with their customers and meet their needs. These unprecedented times have not only impacted the way businesses operate, but also the way healthcare is delivered. The current crisis is so dramatically different from anything experienced that it has even put the medical field in […]

Small business loans are your cushion anytime your company threatens to hit rock bottom. The term “small business loans” is an umbrella description of various forms of funding, but your priority as a retailer is to pick the right product. And many times, your needs determine the right loan for you. So you must understand how these loans work to make the most of them. What’s a Small Business Loan? It is a form of funding a bank or lender offers a business in return for interest and fees, and payback (of the lent amount) in a defined schedule throughout […]

Running a business is a demanding task, but the status quo almost doubles up the challenge for a small business owner. You have to make critical decisions that will influence your today and tomorrow, and almost all of them revolve around funding. Since the Federal government passed the Coronavirus Aid, Relief, and Economic Security (CARES) Act and news of “a $350 billion small business relief fund” went viral, almost all microbusinesses want a slice of the cake. But do we understand what they are? The CARES Act provides funding through the Paycheck Protection program. And PPP loans offer funding up […]

Why a Microloan Is Your Next Best Bet For a Loan Funding can mean almost everything to you if you’re trying to get your business off the ground. When you’re new, opportunities are rare, so you must search in the right place. Microlending, for instance, is a perfect way to source extra commercial finances for many reasons including; This approach isn’t profit and interest-centric as other forms of funding. Interests are way too low. And settlement terms are as long as six years. Most microlenders focus on supporting vulnerable groups that can’t get funding from banks. That’s not all; these […]

Streamline Your Small Business Finances Are you starting a new business and are not sure how to get your company finances in order? Do you own an established business and need to streamline your processes? Knowing what changes to make and using the right technology can make all the difference when keeping track of your small business’ information. As a small business owner, your time is limited. Paying attention to the following details and utilizing the tools below will help you significantly streamline your money habits, so you can focus on your business goals more and your bank statements less. […]

Who said running a business is easy? Knowing how to properly reduce debt is one of the challenges for business owners. Below, you can find helpful tips to avoid cash flow issues as much as possible. So, let’s start. How to Successfully Reduce Business Debt Very often, entrepreneurs are faced with the challenge of managing business finances. When bound to deal with some ups and downs concerning your cash flow, use the below-mentioned tips to overcome the obstacles easily: Set clear goals. Build a plan, taking into account your budget. Start by analyzing your budget. See whether you’re making some […]

As a small business, setting goals is always beneficial. Have a detailed strategy that outlines milestones and ways in which you’ll measure performance and progress. From improving marketing reach, cutting expenses or getting your business organized, these tips will help you triumph in all your small business goals. Know What Your Strategy Is Before Setting Your Small Business Goals While planning your small business goals for the year, it is key to keep the big picture in mind. This will help keep you strategically focused and on track with your goals. According to London Business School professor Elsbeth Johnson, important […]

When we think of office space, we think of our place of work, but sometimes the office can be an obstacle for work. That may seem strange to think about at first but give it further thought.  Do you deal with stress from traffic commuting to and from your office? Once at your office are you finding distractions from co-workers, phones ringing or the AC being too cold? Do you feel like there always seems to be something that isn’t your work that’s taking your attention?  Recent data shows that remote work has drastically grown to 159% in the last […]

There comes a time in a businesses’ life cycle when it experiences a successful launch, which is soon followed by success and growth. Although reaching this point is incredibly exciting and has proven the viability of the business, a new set of obstacles and challenges must be met head on. At this stage of growth, the small business owner begins to get pulled in a myriad of directions: managing an increasing level of revenue, attending to customers, dealing with the competition, and accommodating an expanding workforce, just to name a few. As your business continues to grow and develop, so […]