Fundera

AUGUST 31, 2017

If you’re thinking of starting a business, why not start an eco-friendly business? What’s an “Eco-Friendly” Business? An eco-friendly or “green” business is a business that demonstrates commitment to an environmentally sustainable future. Green businesses strive to have a positive impact on the environment and their community. This can be achieved through many practices and strategies, from recycling to sourcing local products and promoting energy efficiency.

Small Businesses 106

Small Businesses 106

Abrigo

AUGUST 16, 2017

A recent Sageworks whitepaper addresses how banks and credit unions can leverage digital channels to grow the loan portfolio and remain competitive with the emerging trend of alt-lenders in the small business lending space. The banking industry has historically been able to play defense against newcomers because of regulatory and legal barriers to market entry.

Credit Unions 84

Credit Unions Small Businesses 84

Fundera

AUGUST 16, 2017

When it comes to finances, small business owners have their work cut out for them: Not only do they need to manage their business’s finances, they have to manage their personal finances, too. And with personal and business priorities not always aligning, sometimes the task of managing both can feel like a juggling act. But as a small business owner, you can’t lose sight of your personal finances.

Small Businesses 101

Small Businesses Credit Scoring Deductions 101

Fundera

AUGUST 25, 2017

As a business owner, you should always be thinking about your next move. In some cases, that’s your exit strategy. Even if it’s not your exact next move, it’s something you should always be keeping in mind. What will become of your business once you’re no longer involved, and how will you come out on top? There are various options for a small business owner when they are ready to exit—and many reasons for that exit.

Small Businesses 96

Small Businesses Bankruptcy 96

Fundera

AUGUST 23, 2017

Small business owners love what they do. From being their own boss to having total control over their schedule, there are certainly many perks to running a business. But what is it really like to be a small business owner? This summer, Fundera surveyed hundreds of American business owners to find out. Surprisingly, the results lean away from the most common assumptions.

Credit Scoring 94

Credit Scoring Small Businesses 94

Fundera

AUGUST 11, 2017

California, Massachusetts, Maine, and Nevada all recently legalized the recreational use of marijuana —making it 33 states, including the District of Columbia, that allow some sort of legal use of the drug. What does this mean for the entrepreneurial minded? Is the cannabis industry the next industry to enter? With its age and regulatory environment, the cannabis industry is unlike any other.

Deductions 91

Deductions Credit Unions Small Businesses 91

Fundera

AUGUST 14, 2017

What are the best websites for small business owners to use to recruit awesome employees? Looking for qualified employees for your small business can seem like looking for a needle in a haystack. You probably don’t have an HR director to help you, nor do you have a lot of time in your busy day to spend weeding through résumés. But because your staff is small, the candidate you choose to hire can make a huge difference in the success of your business.

Small Businesses 90

Small Businesses 90

Fundera

AUGUST 20, 2017

Being a business leader is so much more than the title in your email signature. Taking the job means wearing a lot of different hats. You’re a sheriff, an architect, a salesperson, and a therapist all rolled into one. Finding fun every day might seem impossible. After all, who has time for fun when there’s work to be done? But it’s important to remember that a business is a reflection of its leadership.

86

86

Fundera

AUGUST 29, 2017

Do you speak accounting? A good bookkeeper or accountant can explain your business’s financial position to you in plain English, so fluency in accounting isn’t mandatory, And that’s a good thing! After all, you didn’t start your business so you could go get a degree in accounting in your nonexistent spare time. However, just as it’s a good idea to know some key words and phrases when traveling to a foreign country, it’s also wise to understand some key accounting terms before meeting with your f

Small Businesses 85

Small Businesses Transactions 85

Fundera

AUGUST 22, 2017

One of the joys of working with any software is learning the little tips and tricks that make using it easier. Xero users lean on many shortcuts and little-known tips, and we’re sharing eight of them here. Xero Tips for Small Businesses. In this article, we explore the eight Xero tips every business owner should know. Since this article is geared toward the small business owner, I do not include any tips that are only available to Xero users under the Advisor (accountant) role. 1.

Small Businesses 85

Small Businesses Transactions Dashboards 85

Fundera

AUGUST 15, 2017

Life coaches: They’re everywhere. You might have seen a Facebook page for one or noticed that your yoga instructor has taken on the role of personal, spiritual, or professional advisor to some of your classmates. With over 53,000 coach practitioners globally and 17,000 in North America alone ( according to a study by the International Coach Federation ), the field of life coaching is clearly resonating with its clientele.

Small Businesses 85

Small Businesses 85

Abrigo

AUGUST 3, 2017

Is it reasonable to expect a chef to prepare a gourmet meal when her only resources are dull knives, expired food and an oven that does not heat properly? Of course not, because despite the chef’s training and experience, she lacks the basic tools and quality ingredients necessary to even create something edible, much less exquisite. The same holds true for CPAs and business advisors trying to create a thriving practice without proper technology or staffing.

Accounting Firms 74

Accounting Firms 74

Fundera

AUGUST 7, 2017

You didn’t get into business to be an accountant , so why do you need to know basic accounting concepts? Many business owners rely exclusively on their bookkeeper or accountant to tell them what they need to know about their financial statements, and most bookkeepers and accountants love discussing a business’ numbers. However, by knowing these three basic accounting concepts, you can understand what your business is telling you between meetings with your financial advisers.

Small Businesses 84

Small Businesses 84

Fundera

AUGUST 8, 2017

QuickBooks is an absolutely essential tool for small business owners or accountants looking to streamline their accounting and bookkeeping. But when you’re just getting started, you might feel a bit overwhelmed. Don’t worry! I’ve got you covered. If you want to become a QuickBooks expert, a ton of resources are out there for you to take advantage of.

Deductions 82

Deductions Small Businesses 82

Fundera

AUGUST 18, 2017

Your first year in business can be a scary time for even the most prepared small business owner. Funding, promoting, and sustaining your small business are all challenging while your business is still young—you might have heard the statistic that one in four small businesses fail within their first year. Power through your first year with a few of our favorite GIFs, which we’ve handpicked to keep you charging ahead. 1.

Small Businesses 81

Small Businesses 81

Fundera

AUGUST 30, 2017

Sometimes your business can’t afford to wait for funding —when cash reserves are low and demand is high or you’ve had an unexpected expense, immediate access to cash could make or break your business. That’s where same-day business loans come in. In some cases, you could have the cash you need in under a day. . The options for funding are many, and that’s why we’ve created this list of options to guide you in your choice when looking for same-day or otherwise quick funding options that will get

Credit Scoring 81

Credit Scoring Deductions Invoice Amount Small Businesses 81

Fundera

AUGUST 1, 2017

As a savvy consumer, you’ve got a handle on your personal finances—meaning you know where your personal credit score stands month-to-month. But as a new business owner, you might not know anything about your startup’s business credit—why it’s important, what yours looks like, and how to establish and build it. If you’ll ever need credit for your business in the future—with a small business loan , or business credit card —then your business can’t just get by on the coattails of your strong person

Credit Reporting Agencies 81

Credit Reporting Agencies Credit Scoring Credit and Collections Small Businesses 81

Fundera

AUGUST 2, 2017

Jargon Busters: What is APR and Why Should You Care? In the world of finance, it’s easy to lose yourself in a sea of acronyms, and it’s also easy to let all the jargon intimidate you. Luckily, many of these acronyms are super easy to clear up. With a little clarifying, you don’t have to be scared of all the terminology. For example, at one point, we’ve all wondered to ourself, “What is APR?

Credit Card Companies 79

Credit Card Companies Small Businesses 79

Fundera

AUGUST 5, 2017

Over the past few years, the workplace has changed dramatically and will continue to change with continued advances in technology and the domination of the millennial generation across various industries. By 2020, millennials will make up more than half of the global workforce , and this will cause a significant shift in demands and expectations in the workplace.

Small Businesses 78

Small Businesses 78

Fundera

AUGUST 2, 2017

Let’s face it, most small business owners start their business because they are passionate about what they do and they work tirelessly to grow their business and realize their vision. One of the biggest challenges for many business owners is finding quality expert advice to help them learn and understand what their financial and tax obligations are and how to read and use reports and KPIs (key performance indicators) to effectively manage their business.

Bad Debt 75

Bad Debt Credit and Collections Small Businesses Transactions 75

Fundera

AUGUST 29, 2017

If you’ve researched traditional small business loans , you’re probably aware that you need to have a profitable business, a strong revenue history, and a robust personal credit score to qualify for the best options. But what if that doesn’t describe your business just yet? What if your business is brand new—or you’re growing, but not yet profitable?

Past Due Invoices 75

Past Due Invoices Credit Scoring Default AR Aging 75

Fundera

AUGUST 10, 2017

There’s no doubt that student loan debt is a massive issue in the U.S. Collectively, Americans owe over $1.4 trillion in student loan debt spread out among 44 million borrowers —and it’s only growing. 70% of students this year graduated with loan debt, averaging around $35,000—up from $13,327 in 1995. A debt load can make it very difficult for young people to procure financing if they want to start a business.

Credit Scoring 75

Credit Scoring Credit and Collections Small Businesses Bankruptcy 75

Fundera

AUGUST 18, 2017

Getting a small business loan is a big step. The thought of giving up precious cash flow to service a loan can be pretty intimidating. Every dollar that flows through the business is precious capital that can be used to build the operation or sustain the livelihood of the business owner. Making the call to grow with borrowed funds or maintain the status quo can be a hard one.

Small Businesses 72

Small Businesses 72

Fundera

AUGUST 12, 2017

As a budding entrepreneur, you have many things to ponder. Protecting your business from liability lawsuits is one of the most important issues to consider. You do not want to invest time and money into your business only to realize that an unexpected claim turns into a serious financial setback. If your new business focuses on services offered to clients, you need an errors and omissions insurance , or E&O, policy.

72

72

Fundera

AUGUST 27, 2017

The best day of your business life: the day that dream client you’ve been pursuing for years signs the contract and instantly doubles your business. The worst day of your business life: the day you start executing that new business without thorough preparation. Expansion is scary, but with the right steps in place, it can be manageable. Just when you think you’ve accounted for every change that’s coming, a new one pops up and takes you completely by surprise.

71

71

Fundera

AUGUST 6, 2017

If you’re a millennial who dreams of owning your own business, you’re not alone. According to a joint survey from EY and the Economic Innovation Group , 62% of young adults have considered starting their own business. The biggest obstacle standing in their way? For 42% of them, it’s a lack of financial means. Starting a business with no capital is tough enough.

Credit Scoring 71

Credit Scoring Small Businesses 71

Fundera

AUGUST 6, 2017

While a business event can be a fun and relaxing experience for participants, it can be the exact opposite for organizers. If an event is going to be successful, a variety of factors must come together without a hitch— including catering, decorations, venue, schedule, and attendees. Even if you have the first four factors ready to go, the event will be a failure without a sizeable crowd.

71

71

Fundera

AUGUST 13, 2017

As a small business owner, there’s likely one thing on your mind that’s more important than almost anything else (except revenue): growth. In today’s economy, it’s a simple fact that brands that fail to grow are often left behind, and if you want your business to succeed, it’s not enough just to maintain your current audience—you need to expand it. There are a lot of ways you can expand the reach of your business.

Small Businesses 71

Small Businesses Transactions 71

Abrigo

AUGUST 30, 2017

The changes inherent in the shift from FASB’s incurred model to the current expected credit loss model (CECL) present many challenges for financial institutions and accounting professionals alike. However, the transition from an incurred model to estimating expected credit losses is not meant to be a cumbersome process, let alone one that is unmanageable.

CECL 60

CECL Credit Unions 60

Abrigo

AUGUST 25, 2017

Most partners or valuation professionals are constantly asking themselves this question: How will our firm grow? According to an April 2017 Sageworks webinar poll, 41 percent of attendees selected the top challenge for valuation practices is attracting new clients signifying the biggest challenge for the 275 valuation professionals. With the average, unexpected turnover of business clients in a given firm being between 8 to 15 percent each year, financial professionals are simply trying to figur

60

60

Abrigo

AUGUST 24, 2017

By John F. Dini , CMBA, CExP As an exit planner, I hear lots of owners opine about the value of their company. Some are well informed, but more often than not, they don’t have the full picture. When asked about their reasons for the value they think their business has, it sometimes goes like this: “Well, I was talking to a guy at a trade show who told me another company in his state that I think was a lot like mine sold for about $4,000,000.

Accounting Firms 60

Accounting Firms 60