Fundera
JUNE 13, 2019
What to Pay Employees: 7 Factors to Consider. When it comes to determining how much to pay your employees, you want to be fair to your workforce while protecting your business’s interests. Use these seven factors to come up with an appropriate wage for each role your hiring for: Type of Job. Average Pay (in your industry). Exempt vs. Nonexempt Status.
Abrigo
JUNE 4, 2019
The Financial Accounting Standards Board’s new current expected credit loss (CECL) standard, known as one of the biggest changes to bank accounting. Because of the complexities and changes that CECL brings, there are many questions surrounding implementation, potential effects, and more. The Federal Deposit Insurance Corporation (FDIC), the National Credit Union Administration (NCUA), the Board of Governors of the Federal Reserve System (FRB), and the Office of the Comptroller of the Currency (O
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GoCardless
JUNE 17, 2019
If customers churn just as fast as they convert, your recurring revenue will never be able to reach its true potential. Download this guide for actionable tips on managing churn from seasoned SaaS leaders.
MediRevv
JUNE 12, 2019
Imagine if your patients were armed with all the tools and resources they needed to make informed decisions on their healthcare choices and billing options. The focus on surprise medical bills and patient loyalty has been in the news recently, along with how high-deductible health policies are linked to delayed diagnosis and treatment.
Eastern Credit Management Services
JUNE 10, 2019
“You’re a Bill Collector, you collect overdue accounts; thus you must be one”, you would not believe how often we hear this day today. The truth is yes, we collect overdue accounts, but we are not Bill Collectors by definition; we are an extension of your business. That’s why we refer to individual members of our collection department as Customer Account Agents, as we take a customer service approach to the collection of our clients’ overdue accounts.
Fundera
JUNE 26, 2019
35 Small Town Business Ideas for Every Community. Restaurants. Hybrid Bar & Coffee Shop. Liquor Store. Handyman or Contractor. Automotive Repairs. Home Cleaning. IT and Computer Services. Pet Store, Grooming, and Boarding. Salon or Barbershop. Gas Station. Grocery Store. Drugstore. Antique or Thrift Store. Fitness Studio or Gym. Tutoring Business.
Credit Management Source brings together the best content for credit management professionals from the widest variety of industry thought leaders.
Fundera
JUNE 25, 2019
The Top 40 Online Business Ideas. Social Media Marketing. SEO Consulting. Freelance Designing. Freelance Writing. eBook Writing. Translation. Editing. Writing a Blog. Freelance Researching. Freelance Coding and Web Design. Software and App Development. Photography. Business Coaching. College Consulting. Tutoring. Online Fitness Training. Ecommerce Store.
Fundera
JUNE 7, 2019
What Is a Founders’ Agreement? A founders’ agreement is a legally binding contract, usually in writing, that outlines the roles, rights, and responsibilities of each owner in a business. It could be a standalone document, or it could be incorporated into corporate bylaws, an LLC operating agreement, or partnership agreement. A founders’ agreement is designed to protect each founder’s interests and to prevent conflict down the line.
Fundera
JUNE 18, 2019
Top 10 Reasons Why Good Employees Quit. Lack of respect or trust. Low pay. Poor company culture. Feeling overworked and underappreciated. Bad manager. No growth opportunities. Disconnect with company values. Issues within their team. Poor leadership. No work-life balance. There are few faster ways to cause major problems at your company than to forget that a good business is staffed by satisfied, energetic, and engaged employees.
Fundera
JUNE 9, 2019
Just like respect, trust is not given—it’s earned. In the world of business, people will not buy your products or your services if they don’t trust you. They need to find your business trustworthy before they decide to hand over their hard-earned cash. The tricky part about trust is that it cannot be forced on other people. You cannot just tell people to trust you so you can make a sale.
Fundera
JUNE 24, 2019
Standing out as a small business isn’t the easiest feat in the world. Incumbents in your field have an outsized presence with consumers, and may even be household names depending on your industry. Plus, other small or medium-sized businesses may be working with big marketing budgets that make it even more difficult to help your business have a meaningful presence online.
Fundera
JUNE 14, 2019
How to Motivate Employees: 7 Ideas. Provide open, honest, respectful communication. Offer your employees opportunities to learn and develop. Listen to employee concerns and address issues. Offer incentives for good performance. Be flexible to different employee work-styles. Foster a comfortable and welcoming workplace. Gamify work-related tasks. Motivation comes from the inside out.
Fundera
JUNE 30, 2019
23 Best Small Business Forums. Small Business Forum. Quora. Small Business Forum.net. BizWarriors. Small Business Brief. CNET Small Business and Startups Forum. Small Business Computing and Ecommerce Forum. ChefTalk. QuickBooks Online Community. Practical Machinist. Warrior Forum. Bank of America Small Business Online Community. Business Advice Forum.
Fundera
JUNE 10, 2019
No matter where you are, it’s important to find a great bank for your small business when you’re setting up shop or growing rapidly. We’re going to look into the best banks for small business in Michigan, specifically, so you can find an excellent fit for your company that understands your local needs. No matter if you’re right in the heart of the action in, say, Ann Arbor, or peacefully enjoying yourself in the Upper Peninsula, you’ll be happy to discover that there’s a range of options among t
Fundera
JUNE 5, 2019
Real estate is an industry that gets consistent attention as a lucrative, exciting work opportunity. Best of all, by working in real estate, you’re able to cash in on a product that is almost always in demand, as people need homes and commercial space in just about any economic environment. Plus, real estate can bring in some serious cash, depending on the opportunities in your area and overall industry conditions.
Fundera
JUNE 14, 2019
What Is Customer Lifetime Value? Customer lifetime value (CLV) is a formula which tells you how much revenue a customer will generate over their entire relationship with your business. Calculating CLV can help you with budgeting, forecasting, and resource allocation decisions. Ultimately, a company’s viability depends on customers returning again and again.
Fundera
JUNE 27, 2019
Progress Billing Definition. Progress billing is the process of incrementally invoicing clients for a project based on the percentage of work already completed. Progress billing is typically used for large, long-term projects, and it helps contractors maintain an adequate level of funding throughout the duration of the project. It shows the original contract amount, changes made to that total amount, the total balance already paid, the percentage of work completed, the amount currently due, and
Abrigo
JUNE 26, 2019
We are closing in on six months until the SEC filers’ CECL effective date. While credit unions have some additional runway after the November 2018 CECL delay, there is likely less time than expected. CECL is still happening, and in order to be ready to transition in time and with confidence, then it’s time to prepare now. “If you’ve kind of been dragging your feet on this, now is the time,” said Brandon Quinones, Manager of Credit Consulting.
Abrigo
JUNE 13, 2019
Business borrowers really like credit unions – when they use them. In fact, credit unions have some of the highest business-borrower satisfaction rates among all types of lenders, according to the Federal Reserve’s latest Small Business Credit Survey. Satisfaction with credit unions was 76% among applicants for new credit — higher only for businesses that had applied at small banks (at 79%).
Abrigo
JUNE 10, 2019
Every year, it is estimated elder adults are exploited for up to $36 billion. World Elder Abuse Awareness Day aims to bring worldwide awareness to this under-reported problem. It is an international United Nations observance day that is commemorated by most countries around the globe on June 15. Elder abuse and elder financial exploitation (EFE) specifically is a growing concern in our families and communities as the baby boomer generation hits their senior years and is the most common form of r
Abrigo
JUNE 7, 2019
This morning, the Bureau of Labor Statistics released its national employment situation report for May. The report was underwhelming, with just 75,000 jobs created last month – well below the 180,000 jobs expected. Revisions to the prior two months decreased their strong performance by 75,000, leaving us with an average of 151,000 jobs per month over the last three months – an OK, but not great, pace.
Abrigo
JUNE 3, 2019
SBA Lending Can Be a Hidden Gem for Some Institutions. Loans guaranteed by the U.S. Small Business Administration represent an underutilized growth engine for financial institutions. With proper planning and the utilization of technology, SBA lending can boost customer acquisitions and deposits. It can also drive other areas of business banking while providing meaningful solutions to customers.
Fundera
JUNE 13, 2019
As a contractor, you know that running your business requires capital—and, often, lots of different kinds. Luckily, the best small business loans for contractors provide you with many options to access different types of capital, depending on your company’s unique needs. You may need capital to finance the purchase of specific items, assist with cash flow concerns, or pay your staff.
Fundera
JUNE 2, 2019
Accrued expenses sound like a difficult, and time-consuming, accounting concept to comprehend. As the name suggests, accrued expenses are an accrual basis accounting concept. As such, many small business owners—who often operate on a cash basis —disregard accrued expenses. This can be a costly mistake. In this article, we will demystify accrued expenses.
Fundera
JUNE 10, 2019
Taxes can weigh heavily on the mind of a small business owner. Local, state, and federal small business taxes can eat a big chunk out of your bottom line, and sometimes, it can feel like all your hard-earned profits are going to Uncle Sam. Fortunately, tax deductions and small business tax credits can help lessen the sting of taxes. Most small businesses are aware of the importance of tax deductions.
Fundera
JUNE 22, 2019
What is a Keogh Plan? A Keogh plan is a tax-deferred retirement plan for self-employed individuals, non-corporate small businesses, and their employees. In a defined contribution Keogh plan, the business owner decides how much to contribute. A defined benefit Keogh plan works like a self-funded pension plan. You can withdraw money from a Keogh plan as early as age 59 and a half.
Fundera
JUNE 21, 2019
General Partnership Definition. A general partnership is an unincorporated business with two or more owners who share business responsibilities. Each general partner has unlimited personal liability for the debts and obligations of the business. Each partner reports their share of business profits and losses on their personal tax return. There are several types of business partnerships, but the most common is a general partnership.
Fundera
JUNE 5, 2019
You work extremely hard for your money. The last thing you want to do is experience revenue leakage during which you’re leaving money on the table. (Now we have your attention, don’t we.) If you’re using outdated systems or not precisely tracking certain elements of your business’s finances , you could be letting potential revenue slip by due to revenue leakage.
Fundera
JUNE 3, 2019
As two of the largest banks in the United States, both Chase and Wells Fargo are well set up to provide strong services to small business owners and meet their business banking needs. And, if you’re debating Chase vs. Wells Fargo business checking, then it’s very likely you’re one of those business owners who is looking for great business banking services.
Fundera
JUNE 10, 2019
The Top 3 Convenience Store POS Systems. Harbortouch POS. Square for Retail. ShopKeep POS. Convenience stores are the backbone of the American retail industry. According to a 2014 report by Nielson , there are over 152,794 convenience stores in the United States—that’s one convenience store for every 2,095 people. Furthermore, convenience stores make up roughly 33.9% of all retail outlets in the United States.
Fundera
JUNE 1, 2019
As you run credit card transactions for your customer’s purchases, the peace of mind that comes with a secure card processing system is a non-negotiable. As you sell your business product or service, you shouldn’t have to worry about a credit card transaction going wrong. Therefore, you might look to credit card processing companies like the Authorize.Net gateway—or, as it’s often called, the AuthNet gateway—to ensure that your customer’s card payments go through both quickly and securely.
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