November, 2016

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Tips to Prepare Your Client's Business for Sale

Abrigo

The following is written by Mary Beth Koester , Manager of Business Valuations at Rae & Associates. As you prepare clients for an exit, there are a few key areas and metrics to consider. Keeping in mind that exit planning can, and should, begin years in advance, you will be able to watch as these metrics change over time. You’ll become an important advisor to the business owner, making your role critical to their success.

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35 Female Entrepreneurs Spill On What They Wish They’d Known Before Starting Their Business

Fundera

Women’s Entrepreneurship Day is coming up on November 19th—meaning this is the best time to celebrate influential females in the small business space. The number of women-owned small businesses is at an all-time high. To honor the female entrepreneurs who are changing the face of small business with innovative and valuable companies, we picked their brains for advice for other women setting forth with their own small businesses.

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10 reasons why Direct Debit makes standing orders look SO last century

GoCardless

Discover the answer to your late payment problems

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Here’s Why Small Business Saturday Could Be the Best Day Ever

Fundera

As a savvy consumer, you probably have Black Friday and Cyber Monday marked on your calendar as the best days to score deals at almost any retail store in the United States. But did you know about an equal—if not better—shopping event that falls on that same weekend? It’s Small Business Saturday—an event that any smart shopper or small business owner should take advantage of on Saturday, November 26th.

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7 Ways for Small Business Owners to De-stress (That You Should Try)

Fundera

Stress is a reality for everyone. But as an entrepreneur running a small business, you have your fair share of stress to deal with every day. From finding new customers, managing your current customers, financing a business , keeping your employees happy, paying your small business taxes …. The list of daily stressors can go on and on. But as the owner and lifeblood of your business, all you can do is bottle up your stress and forge ahead, right?

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7 Ways for Small Business Owners to De-stress (That Actually Work)

Fundera

Stress is a reality for everyone. But as an entrepreneur running a small business, you have your fair share of stress to deal with every day. From finding new customers, managing your current customers, financing a business , keeping your employees happy, paying your small business taxes …. The list of daily stressors can go on and on. But as the owner and lifeblood of your business, all you can do is bottle up your stress and forge ahead, right?

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5 Tips for Sustaining a Family Business over Multiple Generations

Fundera

In a world dominated by ecommerce giants like Amazon and big box stores like Wal-Mart and Target, it’s easy to overlook the importance of the family business. But family-run businesses play a huge role in creating wealth and stability in today’s economy: According to the Conway Center for Family Business , they make up 80-90% of all firms in North America, account for 78% of new job creation, and are less likely to lay people off.

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The Ultimate Countdown: New Jersey’s 5 Best Cities for Entrepreneurs

Fundera

Bruce Springsteen, John Bon Jovi, Frank Sinatra, Martha Stewart, and Meryl Streep—what do they all have in common? That’s right: they all hail from the Garden State! While New Jersey is the 4 th smallest state by land area, it’s the 11 th most populous state in the USA. Being the most densely populated state in the country has helped create a great business climate for the state.

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The impact of lower energy prices on banks

Abrigo

Banks operating in oil and gas intensive areas of the U.S. have experienced a significant increase in nonperforming commercial and industrial loans, but not in other types of loans – at least so far, according to a recent study by Federal Reserve researchers. “Our evidence seems to back up the view that to date, the banking sector has successfully weathered the storm of low energy prices,” said researchers in the Federal Reserve Bank of New York’s Research and Statistics Group.

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12 Quick and Healthy Meals for the Business Owner on the Go

Fundera

As a busy small business owner, I know how hard it is to eat healthy when your schedule is crazy. Between clients, business travel, and catching up on emails, it often seems like I work 24 hours a day. So take it from me: Running a business doesn’t have to mean wolfing down cold cereal over the kitchen sink every night. Here are a dozen easy, healthy go-to meal ideas (and a couple of to-go options) for even the busiest entrepreneur.

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Here’s Your Quick and Easy Guide to the Small Business Administration

Fundera

If you’re currently a small business owner, you’ve probably heard of the Small Business Administration. If you’re thinking of starting a business, you’ve probably heard of the Small Business Administration. If you know a small business owner, you’ve probably still heard of the Small Business Administration. So what’s the deal? Why do small business owners all care so much about the Small Business Administration?

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Here’s Your Quick and Easy Guide to the Small Business Administration

Fundera

If you’re currently a small business owner, you’ve probably heard of the Small Business Administration. If you’re thinking of starting a business, you’ve probably heard of the Small Business Administration. If you know a small business owner, you’ve probably still heard of the Small Business Administration. So what’s the deal? Why do small business owners all care so much about the Small Business Administration?

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QuickBooks Online vs. Desktop: Learn How They Compare in 2017

Fundera

Psst… If you want to get straight to the meat, my friend Woody Adams at Intuit has created an amazing comparison chart for us to see all the features in QuickBooks Online vs QuickBooks Desktop at once. Check it out here. Although I have most of my clients on QuickBooks Online (seriously, all but one), I think it’s always important to revisit the conversation of the main differences of QuickBooks Online vs.

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QuickBooks Online vs. Desktop: Learn How They Compare in 2017

Fundera

Psst… If you want to get straight to the meat, my friend Woody Adams at Intuit has created an amazing comparison chart for us to see all the features in QuickBooks Online vs QuickBooks Desktop at once. Check it out here. Although I have most of my clients on QuickBooks Online (seriously, all but one), I think it’s always important to revisit the conversation of the main differences of QuickBooks Online vs.

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Business? Yes. Citizen? No. The Struggles of Immigration and Entrepreneurship

Fundera

The role of immigrants in American society has never been in a more uncertain place than today. It’s inarguable that foreign-born workers, entrepreneurs, and business owners—documented and undocumented—make a substantial contribution to the U.S. economy. Immigrants account for nearly a third of all new small businesses, hold a third of internationally valid patents, and in cities like New York and L.A., they are responsible for a vital amount of the local economic output.

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Business? Yes. Citizen? No. The Struggles of Immigration and Entrepreneurship

Fundera

The role of immigrants in American society has never been in a more uncertain place than today. It’s inarguable that foreign-born workers, entrepreneurs, and business owners—documented and undocumented—make a substantial contribution to the U.S. economy. Immigrants account for nearly a third of all new small businesses, hold a third of internationally valid patents, and in cities like New York and L.A., they are responsible for a vital amount of the local economic output.

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The Expert’s Guide to Credit Utilization that Will Help Get Your Score Up

Fundera

If you’ve ever rented a home, applied for a small business loan , or taken out a personal or business credit card , then you know how important your personal credit score is. Yes, that seemingly arbitrary three-digit number on your credit report is something worth paying close attention to. So if you want to become an expert at monitoring your credit score, the first thing you need to do is get a handle on just what goes into your credit report.

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The Expert’s Guide to Credit Utilization that Will Help Get Your Score Up

Fundera

If you’ve ever rented a home, applied for a small business loan , or taken out a personal or business credit card , then you know how important your personal credit score is. Yes, that seemingly arbitrary three-digit number on your credit report is something worth paying close attention to. So if you want to become an expert at monitoring your credit score, the first thing you need to do is get a handle on just what goes into your credit report.

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Why Your Small Business Development Center Is Your Best Friend

Fundera

As an entrepreneur, you’re used to going about it on your own. And that independent, go-getter mentality is a part of what makes you a great small business owner. But another equally important quality of an effective small business owner is the ability to get help for their business when you need it. Whether you’re trying to find a business accountant to help out with your small business taxes , confused about the economics behind the business you want to run, don’t know where to look for a busi

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Verizon Small Business vs. AT&T Small Business: Which One Should You Use?

Fundera

When you first started your business, maybe you made connections by reaching out to your customers over your personal cell phone and computer, or even knocking on their doors. But as your small business grows, the time will come when you need to separate personal from business and set up a phone and internet system. When that time comes, which service will you choose—Verizon small business or AT&T small business?

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The 10 Best Places to Start a Small Business in Texas

Fundera

There may be no state with a stronger business community than the Lone Star state. If Texas was its own sovereign country, its GDP would rank 12 th in the world (behind Canada and in front of Australia)! If that’s not enough—Texas has 54 Fortune 500 companies, $264.7 billion a year in exports (more than California and New York combined), and a business climate that’s extremely hospitable to entrepreneurs.

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10 Places to Start a Small Business in Texas

Fundera

There may be no state with a stronger business community than the Lone Star state. If Texas was its own sovereign country, its GDP would rank 12 th in the world (behind Canada and in front of Australia)! If that’s not enough—Texas has 54 Fortune 500 companies, $264.7 billion a year in exports (more than California and New York combined), and a business climate that’s extremely hospitable to entrepreneurs.

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Verizon Small Business vs. AT&T Small Business: Which One Should You Use?

Fundera

When you first started your business, maybe you made connections by reaching out to your customers over your personal cell phone and computer, or even knocking on their doors. But as your small business grows, the time will come when you need to separate personal from business and set up a phone and internet system. When that time comes, which service will you choose—Verizon small business or AT&T small business?

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How to Avoid the Financial Mistake 40% of Small Businesses Are Making

Fundera

In the next decade, you have a 40% chance of having the kind of incident at your business that would result in an insurance claim, according to a study conducted by insurance carrier The Hartford last year. And if you’re hit by one of the 10 most common such incidents, it’ll set you back somewhere between $8,000 and $50,000—not exactly the kind of pocket change most business owners have in their emergency funds.

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Your Cheat Sheet for Employee Holiday Gifts

Fundera

Do you want to give your employees gifts for the holidays? A gift from the boss is a thoughtful touch that makes your team feel appreciated. But what to get that’s memorable, useful, and affordable (and won’t get tossed in the trash the minute the employee gets home)? Here are a few gifting guidelines: Be fair. It’s very easy to seem like you’re playing favorites when you buy gifts for your employees.

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3 Excel tips to help accountants avoid common errors

Abrigo

In a recent Sageworks webinar, 3 Excel Tips for Accountants to Avoid Common Errors , Jeff Lenning, CPA and Author of Excel University, described key tips that can help accountants avoid common Excel errors and get their work done more efficiently. Lenning’s webinar is one of many resources Sageworks provides to accountants and valuation professionals regarding best practices for business advisory services and audit work.

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How This Young Entrepreneur Solved Bed Head with a Multi-Million Dollar Business Idea

Fundera

When Neema “Ema” Eleyae and her daughter Grace took a trip to Kenya for Christmas years ago, they were looking forward to some rest and relaxation — but they weren’t expecting that this trip would change their lives. During the trip, their family had to make a 6-hour drive up the coast. Grace, however, didn’t have the most comfortable ride — her head was bumping the seat all along the way.

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Move Over, Delaware and Nevada! The 8 Most Underrated States You Should Incorporate In

Fundera

All entrepreneurs know a few certain truths when it comes to small business. Always incorporate or form an LLC to protect your assets, conduct a search and register for a trademark to keep original work from being plagiarized, and if you’re seeking a tax friendly haven, head to Delaware or Nevada. For all the attention Delaware and Nevada receive, it can be easy to focus solely on them and not know what other states offer small businesses.

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Eager to Start a T-Shirt Business? Here’s the Secret Recipe

Fundera

Who needs t-shirts? The short answer: Everybody. T-shirts run the gamut from pajamas to (casual) office attire, in some cases. They can be plain as day or stamped with artistic, promotional, or informational logos. It’s an enormous market (U.S. apparel is valued at $225 billion ), and it’s growing—because as long as humans have torsos, there will be a demand for t-shirts and similar clothing.

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Loan decisioning technology’s role in small business lending

Abrigo

Many community banks and credit unions are turning to small business loans as a source of loan growth. In their Spring 2016 Semiannual Risk Perspective , regulators have publicly acknowledged increasing risk in commercial real estate lending, so small business lending seems like it may be an alternative path. Since small business (SMB) loans often carry smaller balances and may be less profitable for the institution than larger commercial loans, lenders need an efficient origination process that

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Leveraging relationships: How community banks can win against mega-banks

Abrigo

Some of the most pressing challenges facing community banks and credit unions in the current banking environment include narrow interest rate margins, increasing pressure from regulators, and competition with “too-big-to-fail” mega-banks. Many community banks and credit unions may feel that competing with these mega-banks is nearly impossible; however, in light of recent press around the sales tactics of these mega-banks, community banks and credit unions can capitalize on the strengths they hav