For many Americans, the freedom associated with running their own business or working independently as a consultant or freelancer can be very appealing. But with that freedom and independence also comes a lot of responsibility, and not just the day-to-day operations and accounting processes necessary to keep the business afloat. There are also things like health insurance to consider. (more…)
If you’re in the process of applying for a small business loan, something called “the SBSS score” has probably popped up in literature about credit screenings. So what is it?
The FICO SBSS score (Small Business Scoring Service), simply put, is a credit score that, in addition to your personal FICO score, determines the risk of U.S. small business credit applicants. While the scoring system has been around since 1993, it only recently gained popularity when the Small Business Administration (SBA) started requiring it for their 7(a) loan application pre-screening. How does it work? Let’s look in depth. (more…)
As a small business owner, you’ve grown used to learning as you go. You had to learn how to manage your accounting, how to address licensing and permitting issues for your industry, how to market your business. The same is true when applying for your first small business loan—a process riddled with unexpected requirements and fine print that will bring an entirely new set of lessons to be learned.
Before accepting your first small business loan, get ahead of the learning curve by asking these six important questions. (more…)
It’s often said that it “takes money to make money” and while this may be true in some circumstances, there are plenty of hustles that don’t require a big down investment. Assuming you have a business license and a basic at-home setup that will likely include a computer, internet access, and a phone—here are seven businesses you can start for under $100 in 2017. (more…)
Perhaps you’ve heard the old saying that failing to plan is the same as planning to fail.
It’s commonly attributed to Benjamin Franklin, the 18th century inventor and politician whose belief in the value of preparation was strong enough that he once made a list of more than a dozen or so character traits on which he planned to structure his life.
Franklin’s preparation paid off. Today, he’s remembered not only for signing the Declaration of Independence but for researching electricity, serving as the U.S. ambassador to France and founding the University of Pennsylvania. (more…)
When you make the choice to jump into small business ownership, it can be tempting to try to get your new venture up and running as soon as possible. But just like the choice to start a business should be carefully considered, there are certain steps in the business timeline that require a thoughtful approach long before you open your doors. Whether your dream is to start a frozen yogurt franchise or a green construction start-up, here’s a step-by-step timeline of how to take your idea from a hazy concept to a thriving business. (more…)
The new year brings with it new beginnings, especially for small business owners! We wanted to see what sorts of businesses were already popping up in 2017, so we asked our experts about their latest projects.
Here’s what they had to say: (more…)
YouTube is developing its tools constantly to enable small businesses to get their message out there, so with a few key tips it’s easy to develop brand awareness and begin your own fantastic YouTube channel.
This guide will offer you three essential areas to cover, to help you create and maintain the very best video presence you can. (more…)
As a manager, you may not always be happy with the performance of your employees, but it’s also important to remember that the performance of your employees is often a reflection of your own performance and managerial style. How you interact with your employees and the strategies you use to motivate and mentor them may need a tune-up. Here are some ideas to help you improve your management and keep things moving at a good pace for your business. (more…)