As a business owner, it is your responsibility to know what financing options are available to you. Virtually all businesses need to borrow capital at some point. It is usually unavoidable, but it can be much more manageable if you know the different types of financing and what situations are best for each. One of the most common financing options is a revolving line of credit.
07 Apr 2015
Securing a loan for your business is a big milestone for any entrepreneur. It means you can get the equipment your need, hire trained staff, advertise, and begin making sales. However, it also means you have to keep up on payments, figure interest rates, and balance your regular finances in business and your private life so that you’re not caught short when it comes time for you to pay an installment on your loan. Luckily, some financial institutions have made some online loan calculator tools so that you can figure out how much you need to pay each month, including interest and fees.
02 Mar 2015
As rewarding as it can be to own and operate a business, there may be times when you hit a financial bump in the road that leaves you wondering what to do next. So often, these types of mishaps occur simply due to a lack of proper financial management. Fortunately, there are several surefire ways to avoid the common mistakes that plenty of small and medium size companies make while trying to grow. By circumventing these common errors, you will begin to handle your business cash flow in a manner that will keep you on the fast track to success.
Whether you’ve decided to start your own business or are in a cash-strapped position with your current venture, you’ve decided to apply for a small business loan. You know that the requirements for small business loans can be taxing, and you want to make sure you are prepared. As with any application process, whether it’s for a job or a grant et al., the more prepared you are, the better. After all, if you were a lender who had their pick of many options, you would definitely feel more confident handing money over to someone who had demonstrated knowledge and competence. Application requirements are also much stricter than they were before the financial crisis. What are the most important things to prepare for the application process?
15 Jan 2015
Many entrepreneurs are looking to open businesses that already has an immediate demand, rather than opening a startup and worrying about reaching niche clientele. For these business owners, opening a franchise business is as easy as recognizing a demand for a certain type of business, and then approaching a franchisor about starting up your own location. The big advantage to opening a franchise is that you will have the experience of the parent corporation behind you to draw on for guidance in order to build your business. Right now, franchises are hot entities for entrepreneurs. Here are the top successful types of franchises in demand today: