The recession, as we call it, is a time of opportunity for some and a time of trial for others.  For the daring entrepreneur, it is an opportunity to start a business. For others, it is a time to wind down and take a break from entrepreneurship. And this makes sense because businesses cannot always get the resources they need to run operations and fuel growth. Most retailers don’t understand how a recession can be a good thing.  Yet it gives a business owner a chance to test their company’s strengths and weaknesses during difficult economic times. Why a Recession […]

Your small business should be able to monitor its cash flow. This is the lifeblood of any business; without it, you’ll never know how much revenue is coming in and what resources you are spending. The good news is that cash flow management isn’t hard to do if you have the right systems in place. Here are some tips for getting started: 4 Ways to Improve Cash Flow Management 1. Draft a reasonable budget.  You may need to create a short-term and long-term budget for your company. A short-term budget will help you determine whether or not you have enough […]

Cash flow in your business is very important to inspire the growth and profitability of your business. How you manage cash flow will determine your day-to-day business progress. Poor cash flow management may be detrimental to your enterprise. You may be unable to pay staff, restock supplies or even meet business expenses on time. We have researched four efficient ways to manage your cash flow better so that your business can grow and be more profitable. Escape the year-one Obstacles Most new business owners in nearly all industries identify cash flow as a leading obstacle to growth and success. Keeping […]

One of the most common reasons that businesses fail is the lack of cash flow. In fact, a survey conducted by U.S. banks has discovered that as much as 82% of small businesses fail due to cash flow problems.  Cash flow problems occur when your monthly expenses surpass the amount of cash you have on hand. This could be attributed to slower sales or customers defaulting on their payments. Poor cash flow can put a serious halt to your business as you won’t be able to run your daily operations or even invest in the growth of your business.  If […]

According to McKinsey & Company, the US e-Commerce penetration experienced 10 years’ worth of growth in a matter of 3 months, replacing physical channels along the way. And all of this occurred during the height of the Coronavirus pandemic.  More business owners are turning to online channels to sell their wares. In fact, Shopify has reported that the number of stores launched on their platform grew by 71% in the second quarter of 2020, compared to the first quarter.  The unfortunate reality is that many new businesses will fail. The main reason is the lack of money management. A recent […]

Starting your own business is loaded with risk. Most believe that you have to go in with your own funding to make things happen. This is not the case. In fact, there are 13 ways for you to acquire the finances you need to launch your business off the ground. Here Are The 13 Ways To Finance Your Business Don’t Reinvent The Wheel:  It’s too easy to fall into the trap of creating a business idea that is mind-blowing, innovative, and unique. However, none of this will guarantee success. Instead, focus on a business concept that has a proven track […]

Small businesses almost everywhere in the world are struggling from COVID-19‘s economic impact. In the U.S., merchants have a number of financing options for their businesses. This refers to both government-backed and alternative options. If you’re interested in small business grants or some financial relief, keep on reading the lines below. Small Business Grants in Different States You must be well aware of the Paycheck Protection Program (PPP), Economic Injury Disaster Loan (EIDL), and the SBA Express Bridge Loans. Let’s look at some business funding opportunities in different states. Have you heard that the Grays Harbor County Commissioners have given […]

On June 22, the U.S. Department of Commerce, Minority Business Development Agency (MBDA) announced it was allocating $10 million under the CARES Act to the network of MBDA business centers and national minority chambers of commerce. To know more about the topic and how to get alternative financing for your minority business, follow the lines below. COVID-19 Funding for a Minority Business MBDA is the top federal agency helping the minority business community develop and expand. According to the agency, COVID-19 has brought a particular impact on minority communities and businesses, and they’re going through severe challenges. The agency is […]

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 […]

At the close of June, President Donald Trump signed a bill re-opening the application window for the Paycheck Protection Program (PPP), extending the deadline until August 8. This five-week extension was approved by both chambers of Congress with unanimous consent. This move will ensure this source of funding stays open a little longer for the many struggling small businesses currently navigating COVID-19 challenges. The PPP was initially launched in early April as the pandemic hit the U.S. economy hard and forced many businesses to close their doors and/or pivot their brand strategy, offerings, and budgets. The program has gone through […]