It’s shocking how a lot of propaganda is floating around concerning small retail shops (commonly known as mom-and-pop stores) these days. Honestly, all myths surrounding the experience as a startup business owner are often exaggerated. These myths can scare you from venturing into a niche that could be very profitable or, equally, convince you into going after opportunities that don’t really exist. Discover the most common myths about mom-and-pop shop and the truth about small business. Mom-and-pop stores are fading away Truth: While startup businesses are not always at par with established business all the time in terms of revenue […]

According to the US Small Business Administration, there are 28.8 million small businesses in the US. Small businesses, which include those with fewer than 500 employees, represent 99.7% of all business in the US. Between the middle of 2009 and the middle of 2013, small businesses created 60% of the jobs. When it comes to larger stores, 20 of the largest US-based supermarket and grocery store chains are ranked alongside the 250 largest retailers in the world thanks to the revenue they have. Of the 250 world’s largest retail chains, 25% are classified as strictly being supermarket and grocery store […]

Small business owners in a number of industries use invoicing to get paid. If you’re among them, be aware effective invoice strategies are critical to your success and can help you improve your cash flow. First, don’t send invoices with incorrect information because clients may refuse to pay them. Don’t fail to keep detailed records so to avoid mistakes. Second, avoid delayed invoicing, meaning do your best to send invoices as soon as you can after the service is rendered. Otherwise, clients will just ignore the bill. Third, avoid late payments. The point is that clients will pay late if […]

There comes a time in the life cycle of a business when it needs some form of financial help. If you’re an SME owner, for instance, you could want more funds to buy equipment, hire new staff, grow your brand’s awareness, clear your debts, or just meet daily operational costs. Whichever reason it may be, raising capital is rarely an easy endeavor. Nevertheless, you can sleep a little more soundly at night by choosing the method that is best for your situation. Below are some viable options. SBA loans The Small Business Association has been issuing loans to SMEs for […]

  Small businesses can be characterized as micro-managed organizations that are doing their best to complete the most with the least, especially when it comes to cash reserves. If you, as a small business owner, have little or no working capital, you’re going to find yourself in a harsh reality. Getting Access to Working Capital Finding a source for working capital can be challenging for small businesses. Traditional banks have strict requirements and aren’t willing to fund businesses with poor credit scores: they prefer established, reliable businesses. So, small businesses and entrepreneurs should find a reputable business loan provider like […]

Whether your business is established or a startup, money is always a concern. From purchasing new equipment to covering payroll to hiring new employees, cash flow must be managed closely. Failing to do so will have devastating consequences. Opportunities will be missed, it will be difficult to keep up with the competition and/or growth and expansion will come to a halt. A year-end report by the National Small Business Administration (NSBA) revealed that 27 percent of the businesses surveyed claimed they were unable to secure the funding they needed. Desperate for funds to launch their venture or fund expansion and […]

Are you considering your options of getting financing for your business? Many entrepreneurs turn to a bank to obtain a small business loan, but very often they feel hopeless after being rejected. Banks tend to reject more people than they approve. Even if banks give you a green light, you’re likely to pay higher interest rates. Business Loan Challenges According to the 2016 Small Business Credit Survey from 12 Federal Reserve banks across the US, which was conducted in the last half of 2016 and included over 10.000 employer firms across all 50 states, small businesses feel optimistic about the […]

A new alternative to the traditional small business loan, merchant cash advances continue to grow in popularity. Why? Instead of waiting weeks (or months) for cash – only to find they’ve been declined – the merchant cash advance allows the business owner to secure cash fast. An alternative lender like First American Merchant can advance you the funds you need in as little as 72 hours (if not sooner). The lender provides you with this working capital by making a purchase of your future credit and debit card sales; the amount of sales and the discounted cost are agreed upon […]

Unfortunately, many small business fall victim to poor cash flow management. While it isn’t uncommon for a business – especially a startup – to operate at a loss initially, constantly struggling with your bottom line can place your business in a dangerous situation. Your business is only as healthy as its cash flow situation. Consider the following ways you can ensure your business’ cash flow improves and stabilizes. Create a Forecast Improving your cash flow situation begins with assessing where your cash flow currently stands, and where it is projected to be in the future. Small and mid-sized businesses experiencing […]

Many business owners shy away from merchant cash advances, not fully understanding what they are or how they stand to benefit from them. Even if they are aware of what this product is, they might still be unsure if they should use it as a small business funding option. If you’re still trying to decide, the following information will help you. What is a merchant cash advance? Contrary to popular belief, a merchant cash advance is not a loan. It is simply a sale. The alternative lender offers your business a lump sum of cash in exchange for your business’ […]