Fundera
AUGUST 16, 2019
Startup vs Small Business: The Main Difference. While the difference between a startup and a small business is subjective, it often comes down to the company’s growth goals and revenue forecast. Startups focus on disrupting markets and driving top-line revenue at a fast pace. Small businesses, on the other hand, often set their goals on long-term, stable growth in an existing market.
Abrigo
AUGUST 14, 2019
Many in the financial crimes community have been waiting for some sort of guidance on banking cannabis-related businesses. The Secure and Fair Enforcement (SAFE) Banking Act was introduced to address the cannabis banking issue and the accompanying lack of banking services to the cannabis industry, forcing significant amounts of cash to be stored in vaults or underground.
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GoCardless
AUGUST 16, 2019
Your monthly resource for tackling the complexities and challenges of the international recurring payments space.
Fundera
AUGUST 15, 2019
A few quotes about success may be all you need to get motivated, take the initiative, and start down the path to reaching your small business goals. Remember this: many people before you have tried and failed. While some give up after a setback, others continue forward. They realize that hard work and dedication will pay off in the long run. When you read quotes about success from somebody famous or somebody with a lot of money, it is easy to toss aside what he or she is saying.
Fundera
AUGUST 14, 2019
The last time you probably opened a psychology book was freshman year of college for psych 101. Chances are you were not thinking how you could one day use the material from this class as a successful business entrepreneur. The study of psychology encompasses the study of how people think and how they can be motivated or deterred. What could go better with business than a solid understanding of how people “tick?
Fundera
AUGUST 16, 2019
Startup vs Small Business: The Main Difference. While the difference between a startup and a small business is subjective, it often comes down to the company’s growth goals and revenue forecast. Startups focus on disrupting markets and driving top-line revenue at a fast pace. Small businesses, on the other hand, often set their goals on long-term, stable growth in an existing market.
Credit Management Source brings together the best content for credit management professionals from the widest variety of industry thought leaders.
Abrigo
AUGUST 12, 2019
The first annual ThinkBIG Conference is right around the corner. Abrigo is bringing together the nation’s leading conferences on the new current expected credit loss (CECL) standard, MainStreet Technologies’ National CECL Conference, and the leading conference on lending, credit and portfolio risk best practices, Sageworks’ Lending & Risk Summit.
Fundera
AUGUST 11, 2019
It’s important to always have a good idea of how your business finances are doing, especially when you are a new small business owner. Something as simple as reviewing your income, expenses, or cash flow statement could give you a better idea of what steps you need to take to move your business forward. . The easiest way to do this? Generate accounting reports, so you can see all the data you need at a glance, helping you make smarter business decisions for the future.
Fundera
AUGUST 10, 2019
When you’re browsing products online, why do you pull out your credit card and push the “Buy Now” button? Whether or not you realize it, the product description is almost certainly a factor in this decision. . As a consumer, you intuitively recognize good product descriptions—because they make you want the product in question. When you start an ecommerce business , however, you might find yourself struggling to write product descriptions or understanding exactly what’s going to motivate your cus
Fundera
AUGUST 14, 2019
The start of a new year may be the traditional time to set new business goals, but you don’t have to wait for January 1 to create business goals that will motivate you and your team to move your company forward. In reality, the best time to set new business goals is right now. While starting a business may have been your ultimate goal for some time, now that you’ve accomplished this, it’s time to make new business goals so your entrepreneurial endeavor can continue to grow.
Fundera
AUGUST 14, 2019
When you’re writing your business plan, you’ll need an accurate estimate of what it will cost for you to start your business so you can decide how to manage your funding and expenses. Accurately estimating your startup costs can be tricky, but this guide will help you understand your initial costs and how you can plan for them. First we’ll look at some of the most common startup expenses to get you started: Common Business Expenses.
Fundera
AUGUST 10, 2019
If selling goods or products is central to your business’s operations, you want to make the invoicing process as simple as possible. And while your products will generally have consistent pricing, you might want to offer a sale or discount to entice your customers to buy more. In these instances, you don’t want to be in charge of manually discounting prices, especially if your sales volume is significant. .
Fundera
AUGUST 15, 2019
In a perfect world, your sales numbers will always be going up when you look at your business finances. However, as is much more likely, your sales will ebb and flow. One year, your products or services can be selling like hotcakes and you can see continued revenue growth from quarter to quarter. And then, all of a sudden, things can change and you’re left wondering what happened.
Fundera
AUGUST 11, 2019
As a Sole Proprietor, How Do I Pay Myself? To understand how much you should pay yourself as a sole proprietor, you need a good idea of what your business profits are going to be, what you need to live, and how much you are going to pay in taxes. In order to pay yourself as a sole proprietor, you would write a check to yourself from your business bank account and deposit it in your personal checking or savings account.
Fundera
AUGUST 16, 2019
By necessity when just starting out, business owners wear several hats within the company. Possibly all the hats, at first. They are the CEO, CFO, lead salesperson, marketer, manager and more. And as an entrepreneur who’s fully invested in their business, it’s hard to led go of the reigns in some areas of the business and embracing outsourcing.
Fundera
AUGUST 15, 2019
What Is Fixed Charge Coverage Ratio (FCCR)? Fixed charge coverage ratio (FCCR) shows how well a business’s earnings cover its fixed charges—such as debt payments, lease payments, insurance premiums, and salaries—before interest and taxes are accounted for. A high ratio shows that a business can comfortably cover its fixed costs based on its current cash flow.
Fundera
AUGUST 13, 2019
If you want to know how to show customers you really care, you don’t need to dole out unreasonable discounts or charter a thank you cruise. Instead, zero in on creating an unmistakably great product, service, or experience that hits the exact mark for your target audience. Then fire up your creative side and add in a personal flair for low-cost ways to make customers smile in the moment—and stay happy in the long run.
Fundera
AUGUST 13, 2019
Whether you are seeking capital for your business, there are two basic types of financing you can obtain: debt vs. equity. The type of financing that’s right for you will depend on a variety of factors. On one hand, a business loan allows you to keep ownership of your business. But on the other, debt like this costs money. . Here’s a closer look at the differences between debt and equity financing and how to determine which is best for your small business.
Fundera
AUGUST 16, 2019
As a small business owner, identifying your priorities on any given day is an ongoing challenge. With so many tasks calling for your attention, it may seem impossible to handle them all—especially during periods of rapid growth , such as transitioning out of the startup stage. This may make you ask: what is delegation in business and how can I figure out where to best spend my time?
Fundera
AUGUST 16, 2019
Whether you own a coffee shop or boutique retail store, one of the most important steps of starting a business is finding the perfect location to set up shop. Finding the right business location is challenging—after all, you need to find the right size space in a desirable location that fits within your budget. And i f you’re like most small business owners, you’ll rent this space, meaning you’ll have a small business lease.
Fundera
AUGUST 15, 2019
Starting and operating a small business is no easy feat, and one of the more time-consuming and challenging aspects is typically managing your business finances. Unless you started a business in the finance industry, this is likely not your passion. But, it is a necessary aspect to not only ensure that your business is doing well (and will continue to do so), but also to continue to legally operate.
Fundera
AUGUST 15, 2019
Choosing a business location is not something that can be done on a whim—it’s a crucial step in starting a business. First things first, the business location you choose will depend on the type of business you operate. Business parks, shopping malls, strip malls, professional buildings, and others are all designed to meet the specific needs of various businesses.
Fundera
AUGUST 15, 2019
Starting a Business in GA in 6 Steps. Step 1: Decide what business you want to start, and on a name for your business. Step 2: Decide what kind of business entity you want your new business to be and finalize a plan. Step 3: Register your business under its name with the state. Step 4: Apply for an employer identification number and register to pay taxes to the state.
Fundera
AUGUST 14, 2019
Internship programs can be great and mutually beneficial for your business and for the interns you hire. It’s a great opportunity for your interns to learn about the industry and for you to get a little extra help with your day-to-day operations. You may even potentially be finding and training some future full-time employees. But to give your interns the best learning experience possible, you want to make sure you have a good internship program template in place that will provide a framew
Fundera
AUGUST 14, 2019
Internship programs can be great and mutually beneficial for your business and for the interns you hire. It’s a great opportunity for your interns to learn about the industry and for you to get a little extra help with your day-to-day operations. You may even potentially be finding and training some future full-time employees. But to give your interns the best learning experience possible, you want to make sure you have a good internship program template in place that will provide a framew
Fundera
AUGUST 14, 2019
As a small business owner, your responsibilities are endless, including everything from hiring employees to developing a marketing strategy to managing your business accounting. This being said, with the complicated yet essential nature of business accounting and bookkeeping, you may find that outsourcing these tasks can save you both time and effort—and by delegating these operations to experts, you’ll be able to focus on other aspects of your business.
Fundera
AUGUST 14, 2019
When it comes to construction accounting software , there is no one-size-fits-all solution. Fortunately, just like there are many different types of construction companies to serve the varying needs of each client and project, there are many different types of construction accounting software to serve your business’s unique needs. How do you know which construction accounting software is the best fit for your business?
Fundera
AUGUST 13, 2019
Like the superheroes of the business world, social entrepreneurs find solutions to social problems by starting a new business solely with the intent of solving an issue facing society. Some people in social entrepreneurship have focused on bringing electricity to rural areas while others focus on finding new ways to educate girls in areas where women are traditionally underserved.
Fundera
AUGUST 13, 2019
What Is Equipment Breakdown Coverage? Equipment breakdown coverage, also known as boiler and machinery insurance, pays for the repair or replacement of damaged business equipment. This insurance covers accidental or direct damage that property insurance and warranties typically exclude. Equipment breakdown insurance can also cover lost income, inventory damage, and other losses that result from equipment failures.
Fundera
AUGUST 12, 2019
What Is IRS Form 4562? IRS Form 4562 allows you to deduct a portion of the cost of a business property by claiming a depreciation deduction. Depending on the class of the property you are claiming, you must claim a depreciation deduction on IRS Form 4562 over a period of years in order to receive the full deduction. IRS Form 4562 is submitted with your federal income tax return every year that you are claiming the deduction.
Fundera
AUGUST 12, 2019
Delaware might be the second smallest state in the country, but it’s a leader in business formation. More than one-third of Delaware’s income comes from business formation fees and taxes, and it’s a favorite state for Fortune 500 companies, small businesses, and tech startups. Although Delaware is normally associated with incorporation, the limited liability company (LLC) is actually the more popular business entity type in the state—making up nearly three quarters of new business filings. .
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