Fundera
OCTOBER 2, 2019
The 10 Biggest Business Problems for Small Business Owners. Managing your money – creating a budget, running financial reports, tracking expenses, paying bills, and more. Building a quality team – finding and hiring the right people to help your business grow. Providing health care for your employees – finding the right solutions for your employees, fitting it into your budget, etc.
Abrigo
OCTOBER 21, 2019
A farmer, a university student, and a business owner walk into a bank. It sounds like the beginning of a joke, but for many community financial institutions, a spectrum of different customers and banking needs is something that they see every day. However, they’re probably seeing fewer of these customers walking into a physical branch. Today, 73% of all consumer interactions with financial institutions are done digitally , according to the 2019 FIS Performance Against Customer Expectations (PACE
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GoCardless
OCTOBER 31, 2019
A Faster Payment is a type of electronic transfer, designed to speed up the process of sending money within the UK. This guide will tell you everything you need to know about the Faster Payments Service and how your business can use it.
TrueBuild
OCTOBER 27, 2019
I wanted to share a story with you about a recent client of ours. He is a pool contractor in Florida that had been in business for about three years. His business had been slowly growing but not at the pace that he wanted it to. He had a relatively good stream of business but it was mostly residential where the average job size was $15k to $20k. What he really wanted to do was crack into the large commercial market building pools for hotels and resorts.
Midwest Corporate Credit
OCTOBER 15, 2019
How many bags of maple bacon flavored organic K-9 Krunchies can you buy with $25,000? I ask because that’s how much one of our clients increased her MONTHLY profit by! $25,000 every month. Source.
Fundera
OCTOBER 17, 2019
Some projects perfectly lend themselves to the DIY route: You can change your own car oil, paint your home, maybe even patch up your own roof. But managing your small business finances ? Unless you have a background in the subject, this is definitely something you should consider leaving in the hands of an expert. For a small business owner, your finances are like gas in the car.
Credit Management Source brings together the best content for credit management professionals from the widest variety of industry thought leaders.
Fundera
OCTOBER 23, 2019
The location of your startup could have a big impact on its growth and eventual success. The interest of investors in your startup, the availability of talent in the local labor pool, and an area’s cost of living can all work in a company’s favor or against it. . Startup culture is centered in a few regions in the United States. The Silicon Valley Bay Area accounts for 45% of total venture capital investment in the U.S.
Fundera
OCTOBER 6, 2019
How to Start an Etsy Shop in 8 Steps. Register for an Etsy account to get started. Set your shop preferences including language, home country, and currency. Choose your Etsy shop name. Add items, complete their listings, and publish them to your shop. Choose how you’d like to accept payments. Set up your billing information. Open your Etsy shop.
Fundera
OCTOBER 21, 2019
How to Start a Winery: 5 Steps to Starting a Wine Business. Come up with a name and choose a business entity. Write a business plan. Navigate licensing, permits, and taxes. Create a budget. Get funding for your wine business. To take on the challenge of how to start a winery, you need to be determined, fearless, and passionate about your craft—although owning a vineyard seems romantic, starting a business in any industry is work, and the wine business is a tough one. .
Fundera
OCTOBER 10, 2019
Opening a Salon in 6 Steps. Step 1: Write a Business Plan. Step 2: Determine the Costs. Step 3: Insure Your Salon. Step 4: Choose a Location and Hire Staff. Step 5: Market Your Salon. Step 6: Scale Carefully. If you’re interested in starting a new business , specifically opening a salon, you’re not alone: The beauty industry is worth over $56 billion annually , and haircare the largest segment with 86,000 locations nationwide.
Fundera
OCTOBER 12, 2019
Basic Accounting Principles. Economic entity assumption : A business is an entity unto itself and should be treated as such. Monetary unit assumption : All financial transactions should be recorded in the same currency. Specific time period assumption : Financial reports should show results over a distinct period of time. Cost principle : The cost of an item doesn’t change in financial reporting.
Fundera
OCTOBER 8, 2019
8 Best Credit Unions for Small Business Owners in 2019. America First Credit Union. Alliant Credit Union. Navy Federal Credit Union. First Tech Federal Credit Union. Self-Help Credit Union. Consumers Credit Union. Digital Federal Credit Union. Boeing Employees Credit Union. One of the most important decisions you’ll make as a small business owner is finding a hub for your business’s finances.
Fundera
OCTOBER 6, 2019
If you’re a principal or shareholder of an S-corporation, you already know the many tax advantages the structure provides you—and the few disadvantages you have to deal with. . Being part of an S-corp means your shareholder assets are protected and you can take advantage of pass-through taxation and other tax benefits, making the S-corp entity a good choice for both you and the business. .
Fundera
OCTOBER 24, 2019
As a small business owner, you’re probably juggling about a million different tasks and projects, so your time is in short supply. Learning how to manage your time effectively when you start a business is crucial for increasing your productivity, getting through your miles-long to-do list every day, and generally maintaining your sanity. And who better to ask about time management tips for entrepreneurs than entrepreneurs themselves?
Fundera
OCTOBER 3, 2019
How to Start a Home Business in 8 Steps. Step 1: Decide what type of business to start. Step 2: Choose a name and entity for your home business. Step 3: Write a business plan. Step 4: Register your home-based business. Step 5: Get a business license. Step 6: Get a business bank account and credit card. Step 7: Secure funding. Step 8: Hire any employees you may need.
Fundera
OCTOBER 17, 2019
FreshBooks vs. QuickBooks, Summarized. FreshBooks: With three plan options and a focus on time tracking and invoicing, FreshBooks is an accounting solution best suited for self-employed professionals like independent contractors and freelancers. QuickBooks Online: One of the most popular small business accounting platforms, QuickBooks Online is well-suited for a variety of business owners, especially those who need more advanced accounting tools for reconciliation, taxes, reporting, and inventor
Fundera
OCTOBER 30, 2019
The Top Payment Processing Companies for Small Business. Veem. Authorize.Net. Stripe. PayPal. QuickBooks Payments. Square. Clover. Payment Depot. Payline Data. Fattmerchant. Whether you run a brick-and-mortar retail store or an online-based business, you’ll more than likely need to accept a variety of payment methods—including credit cards and digital payments.
Fundera
OCTOBER 24, 2019
Amazon Lending: An Overview. Amazon Lending is a program in which Amazon offers short-term business loans to qualified sellers so that they can finance additional inventory to sell through the Amazon marketplace. Amazon loans are invitation-only and amounts range from $1,000 to $750,000. Amazon Lending does not check credit. Between their online marketplace, streaming service, and grocery delivery platform, there isn’t much that ecommerce giant Amazon isn’t involved in—and that incl
Fundera
OCTOBER 14, 2019
The Best Employee Loan Policy. The best employee loan policy and checklist to follow is to find out your employee’s needs for borrowing, formalize your agreement to protect your business, have your employee sign a promissory note, keep pristine records of the agreement, and charge an interest rate of at least the Applicable Federal Rate if the loan is more than $10,000.
Fundera
OCTOBER 9, 2019
8 Steps to Opening a CrossFit Gym. Choose your gym name and business entity. Write a business plan. Get certified, pay CrossFit fees. Register your business, get an EIN. Get funding. Find a gym space and obtain permits. Get a business checking account, credit card. Get insurance. These days, more and more people are discovering that their favorite way to exercise involves rope climbing, weight lifting, ball dodging, and kettlebell swinging.
Fundera
OCTOBER 31, 2019
10 Best Credit Cards for Nonprofits. Chase Ink Business Cash. Capital One Spark Cash Select for Business. American Express Blue Cash Business. Bank of America Business Advantage Cash Rewards Mastercard. Capital One Spark Miles Select for Business. American Express Blue Business Plus. Chase Ink Business Preferred. Capital One Spark Classic for Business.
Abrigo
OCTOBER 31, 2019
CECL | 6 minute read Key Takeaways The FASB affirmed plans to extend deadlines for CECL implementation; a final vote is expected in November. The board will monitor whether it has divided the two adoption-date buckets in the most appropriate way. FASB staff reported on implementation workshops underway. . The current expected credit loss, or CECL, effective dates have been extended for all but the larger SEC filing institutions, correct?
Abrigo
OCTOBER 23, 2019
The following article was first published in ABA Banking Journal on October 17, 2019. In a marketplace where data is shared and distributed at record speeds, third-party or vendor risk management is a challenge for most businesses. The banking industry is no stranger to this. The spotlight from federal and state regulators continues to shine on the use of third parties, and the pressure for those vendors to meet regulatory guidelines has greatly increased.
Abrigo
OCTOBER 22, 2019
Dark Web | 5 minute read Key Takeaways Cybercriminals are now targeting e-commerce merchants with malware attacks. Merchants of all sizes are being targeted. Financial institutions should be proactive with their fraud prevention on the dark web. . The New Frontier on the Dark Web. In recent years, cybercriminals implanted malicious skimming code directly on e-commerce shops and online content management and payment platforms as a way of stealing payment card data at scale.
Abrigo
OCTOBER 21, 2019
The following article was first published in ABA Banking Journal on October 17, 2019. Cybersecurity | 4 minute read Key Takeaways Third-party/vendor risk management is becoming increasingly challenging with more cloud-based providers. 6 key areas of due diligence to consider before signing a contract. On top of initial vendor due diligence, there are ongoing, systematic approaches to managing third-party relationships. .
Abrigo
OCTOBER 17, 2019
On Spreadsheet Day 2019, Celebrate the App, But Acknowledge Its Limitations. Sub-category | 10 minute read Key Takeaways Spreadsheet Day is a good time to celebrate this popular tool while examining some vulnerabilities spreadsheets pose for FIs. Spreadsheets often contain errors and can be inefficient. Spreadsheets have limitations, such as being prone to errors and inefficient.
Abrigo
OCTOBER 15, 2019
SAMS | 4 minute read Key Takeaways Staff your BSA department for success with more senior employees on alert triage. Document all decisions and clearly state why the activity is (or is not) deemed suspicious. Optimize your transaction monitoring system regularly. It has happened to all financial crimes investigators, the desire to keep digging until they get that last valuable piece of information before dispositioning an alert.
Abrigo
OCTOBER 9, 2019
Professionals across the nation encouraged to celebrate National Financial Crime Fighter Day. Part of our commitment here at Abrigo is to continue to spread the word about BSA/AML and continue to advocate on behalf of you -- BSA/AML professionals. We started that effort in full-force in 2017, with an idea to create a nationally recognized holiday – BSA/AML Professional Day – to be observed on October 26 th each year.
Abrigo
OCTOBER 9, 2019
Stress Testing | 6 minute read Key Takeaways Stress testing is a useful tool to help guide CECL decisions. Top-down testing uses pool orientation and segmentation to make decisions. Bottom-up testing is transactional and best for smaller institutions (under $25B). According to economists, a recession is looming. In a recent survey by the National Association for Business Economics, 74% of economists who responded expect a recession by the end of 2021.
Abrigo
OCTOBER 4, 2019
This morning’s Employment Situation report from the Bureau of Labor Statistics for the month of September came in weaker than expected. There were 136,000 jobs added in September, falling short of the expectation of an added 145,000 jobs. The one bright spot was the headline unemployment rate (U3) which fell to 3.5% from 3.7%. The broadest measure of labor underutilization (U6) also fell from 7.2% to 6.9%.
Fundera
OCTOBER 23, 2019
Best Shipping Services for Small Businesses. United States Postal Service: Best for small businesses looking to ship smaller items. UPS: Best for shipping larger packages. FedEx: Best for businesses that need quick shipments. DHL: Best for small businesses looking to ship internationally. Most small businesses will need to ship their products at some point.
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