Fundera

SEPTEMBER 24, 2017

If you’re a whiz in the kitchen who’s been complimented thousands of times about your cooking, you’ve probably toyed around with the idea of opening a restaurant. You think, “I can cook, my food is delicious, so a restaurant would be a no-brainer.” You conduct research only to find out that the restaurant business is notorious for failure. Some statistics put the food service business failure rates as high as 60% within the first year.

Credit Application 92

Credit Application Small Businesses 92

Abrigo

SEPTEMBER 29, 2017

Imagine the following scenario. An analyst is preparing a risk rating as part of an account’s annual review. She has spread the most recent financial data and updated answers to qualitative questions in the scorecard. She knows this credit well because she has managed it for two years and talks to the CFO regularly. When the risk rating is calculated, however, the scorecard result does not match what she was expecting.

Credit Risk 60

Credit Risk 60

Fundera

SEPTEMBER 23, 2017

Everyone has come to accept that taxes are a fact of life. But how often do we stop and take a look at what these taxes really are? While business and income taxes make the headlines, few of us actually know what payroll taxes are and how they work. This isn’t a personal fault—we’re all busy. As long as the check clears, we’re happy. We all do it. We read the total paid without taking a careful look at the deposits (amounts put in) and withholdings (amounts taken out).

Small Businesses 80

Small Businesses Credit and Collections Deductions 80

Fundera

SEPTEMBER 29, 2017

When you become a business owner, you quickly realize that it isn’t just about your personal credit score anymore. Yes, your personal credit score still plays a (surprisingly) important role in your business’s life, but now you have another financial indicator to pay attention to: your business credit score. Just as you monitor your personal credit score by reviewing your credit reports periodically, it’s important to keep up to date on your business’s credit score by regularly reviewing its cre

Credit Reporting Agencies 76

Credit Reporting Agencies Credit Scoring Credit and Collections Bankruptcy 76

Fundera

SEPTEMBER 28, 2017

Thinking about expanding your business? It’s common for business owners to get the itch for growth, but how do they do it? Unfortunately, it often takes money to make money, so you’ll likely need financing to give you that extra push to make the expansion happen. Why Expand? Some reasons people choose to expand their business are staff shortages, inventory gaps, unfilled orders, untapped markets, edging out the competition, or changes in the respective industry.

Invoice Amount 76

Invoice Amount Deductions Small Businesses Default 76

Fundera

SEPTEMBER 26, 2017

Running a business with your spouse: It’s a dream come true! You get to spend every day with your favorite person, you’re pursuing your goals together, and you’re creating financial independence for your family. It won’t be long until you’re sitting atop an empire and hobnobbing with Oprah and Mark Zuckerberg. Running a business with your spouse: It’s a living nightmare.

Bankruptcy 75

Bankruptcy 75

Abrigo

SEPTEMBER 26, 2017

A major concern surrounding technology expenditures is whether the investments will generate a return for the accounting practice. Indeed, it is this worry that keeps partners and some firms stuck using outdated solutions when they could make their work easier and grow the practice with new, differentiated services. However, identifying the return on investment begins with ascertaining which everyday challenges can be addressed with technology.

60

60

Fundera

SEPTEMBER 29, 2017

Ugmonk by Jeff Sheldon from Ugmonk on Vimeo. Jeff Sheldon had a problem: As a designer, he wasn’t satisfied with the low-quality, impersonal, poorly designed t-shirts and accessories he found in stores. He craved more products that fit his simple, minimalist style and weren’t just capitalizing on the latest trend. He started designing t-shirts that he himself wanted to wear.

Small Businesses 65

Small Businesses 65

Fundera

SEPTEMBER 24, 2017

For two months in the fall of 2017, online marketplace sellers can take advantage of something unprecedented—a multistate sales tax amnesty specifically designed to help marketplace sellers become sales tax compliant with minimal effort and no out-of-pocket expense. What is a sales tax amnesty? In the past, individual states would from time to time offer sales tax amnesty to retailers who, for whatever reason, were not sales tax compliant.

59

59

Fundera

SEPTEMBER 26, 2017

When it comes to getting financing for your small business , you might be surprised to hear that your personal credit score matters —a lot. The reason is actually pretty simple: business lenders will see your credit score as a reflection of your reliability as a borrower. Your personal credit score measures your repayment history for personal matters, it’s true, but lenders assume that your private financial habits will mirror how you deal with your small business.

Credit Scoring 55

Credit Scoring Small Businesses 55

Abrigo

SEPTEMBER 27, 2017

The hundreds of people attending the 2017 Risk Management Summit hosted by Sageworks heard from dozens of thought leaders in the financial services industry. As a result, bank and credit union leaders came away from Denver and the three-day summit, which ended Wednesday, with a wealth of advice. They learned how to prepare for the current expected credit loss model (CECL) and leverage the change to better manage the business, and they found out about new perspectives for improving lending proces

CECL 60

CECL Credit Unions 60

Fundera

SEPTEMBER 27, 2017

Getting the word out about your business is one way to make sure it succeeds. Indeed, many aspects of your business may depend on it. Overall, “marketing” can mean many different things: from advertising and public relations to promotions and sales. In other words, marketing is a process in which your business is introduced and promoted to potential customers.

111

111

Fundera

SEPTEMBER 25, 2017

A microbusiness is one with fewer than 10 employees. They’re everywhere—3.8 million microbusinesses are active in the United States and responsible for providing millions of jobs to Americans, despite their small size. If you work for one of these 3.8 million microbusinesses, you know how rewarding (and challenging) it can be to work for a tiny team.

69

69