Debt is part of running a business. Hiring employees, investing in equipment and participating in industry tradeshows all costs money, and can be a smart use of borrowed funds. But debt can also can sink an otherwise successful operation.
There is a reason the acronym KISS has stood the test of time. When a situation feels like it’s spiraling out of control, “keep it simple, stupid” can be the first step toward sanity.
Some customers go to any length to avoid paying, while others trickle in with small payments on a large amount due. Other business clients may encounter their own financial problems and simply are unable to pay.
Small business owners often find themselves in need of a quick influx of cash to keep the doors open. In this situation, many hear about a merchant cash advance (MCA). This is a one-time financing strategy in which a business receives a lump sum that can, on the surface, appear to be a lifesaver.
Small businesses are usually more nimble than larger companies. This can provide a distinct advantage in negotiating business partnerships, starting projects or entering into service agreements with vendors.
Entrepreneurs may be oblivious to how long their work day is, but they can’t be as dismissive of their workers’ hours. Here are four important laws regarding overtime in California that every business owner – and their managers – should know.
As a creditor, you do have rights, beginning with the right to challenge a debtor's right to discharge your debt. If the debtor is declaring Chapter 11, 12 or 13, you have a right to be heard in court regarding the debtor's liquidation and restructuring plan. And you may share in the distribution from the bankruptcy estate.
Every entrepreneur launches a business with confidence it will succeed. Unfortunately, not all do. The Small Business Association (SBA) reports that three out of 10 small businesses fail within the first two years; half fail within the first five years and more than 6 in 10 (66 percent) fail within 10 years of opening.
Strong credit is important to businesses just as it is personal finance – maybe even more so. Banks put an emphasis on the creditworthiness of companies when making decisions about small business loans. If your company’s credit score is not as strong as you would like, there are ways to improve it in short order.
Your start-up idea immediately caught on with investors, and initial sales are starting to go through the roof. Congratulations are in order right? Of course! However, you need to keep up with your exponential success by paying attention to scaling your business.