Small business owners with bad credit must pay close attention the the cash flows of their businesses, as not only are they vital for making payroll, obtaining supplies and financing any number of operational necessities, they also are a major factor in applying for bad credit business loan alternatives which can be important growth boosters in lieu of traditional loans. In the hustle and bustle of a typical office day, small business owners can have their attention fought over by many conflicting commitments, all equally vital to the overall health of the enterprise. However, a real danger that can potentially set a business back is pursuing sales, but slacking when it comes to the often tough work of making collections on outstanding payments. Business owners can fall behind on their collections for any number of reasons, from allowing extensions on payments, forgetting about them, to being distracted by other areas of their business that specifically demand their personal attention and expertise. Whatever the case may

The return of the polar vortex has seen many business owners once more forced to contend with subzero temperatures and an abundance of snow. While in some areas the snow and cold are mild enough to allow businesses to remain open, there are other businesses that have been forced to close either because of the white stuff piling up and gumming up transportation, or because their areas have not been able to adequately prepare for post-snowfall response. Issues related to business loans another source of anxiety to owners who are already worried about being snowed in, as every day they are not in operation is a day that revenue is lost. Still, there are things that small business owners can do in order to keep their businesses running in the right track even during snow days. Here are some ideas: Do you have power and internet? Then  you can still work with your employees. While the neighborhood is covered in snow, you and your employees can

Business owners who are planning new product releases or are trying to make sure they are getting a good deal from their current suppliers must loan enough time from their busy schedules in order to ensure that they are finding a good deal. In order to make it easier for them to get started shopping around,  we’ve put together a top five list of the most helpful tips for finding and negotiating with a supplier. Think locally. When looking for a supplier, one who is on the other side of the country is going to have to charge you higher shipping costs, raising the price of the product you are purchasing. It’s better to find a local supplier, if possible. Start out by using your network of business contacts to see if someone you know has any suggestions to refer you. A referral can potentially be beneficial by coming with a discount or a perk for the person who referred you or even for both of

One of the ways that small businesses are able to effectively compete is by owning a niche and providing the best service and expertise within it. This can help them retain a share of their market that can’t be touched by broader service providers, but it can potentially limit their growth if there is a limited market size for the service that they provide. Without sacrificing their competitive advantage represented by specialization, what can small business owners due in order to diversify their income streams and create the revenue needed for growth? What services complement the services that you already provide? The first step towards identifying potential avenues for growth is understanding what products or services are consumed in conjunction with those that you already offer. For example, a business that offers custom made bouquets may also consider designing centerpieces, or providing products that someone who would order a bouquet might be looking for, such as boxes of chocolates. Don’t just guess what your customers are

The commercial trucking industry forms the circulatory system of much of our national economy, allowing goods to go from one coast to another and everywhere in between. Despite the crucial importance of logistics, the past few years have not been easy for commercial trucking operations. For one thing, because traditional banks classify commercial trucking loans as high risk, these businesses often have a hard time getting credit through traditional avenues. Another challenge faced by trucking companies are the slew of new regulations geared towards improving driver safety. In light of the fact that in 2012 trucking fatalities rose almost 9%, for a third straight year of increased fatalities, something had to give. Still, many trucking firms are anticipating lowered productivity and increased costs as mandated rest periods cut down the number of hours truckers are able to log in a single day as well as the number of consecutive hours they can drive. Going into the new year, many business owners are wondering what they

The commercial trucking industry, automotive small businesses, landscaping enterprises and construction companies have some things in common; for starters a reliance on equipment to do their jobs and grow their business’s capacity to take on larger projects. However, these business owners also have a designation as “high risk” businesses given to them by the traditional banking establishment to contend with, which can significantly increase the difficulty associated with getting approved for small business loans. This creates a serious constraint for business growth in industries centered on acquiring new equipment. When issues like bad credit are added to the mix, small business owners are more or less completely cut off from external capital provided by traditional banks. This in turn makes it much more difficult for them to acquire new equipment which is often outside of their reach when financing directly our of business cash flows. Equipment has the potential to greatly increase the revenues of a business once it is acquired, but since there is often

The coming of Black Friday abruptly signals the beginning of the holiday marketing season in a frenzy of consumer spending and bargain hunting. It is a time when many small business owners are unable to take a break because of the frenetic pace of sales, which is a good thing, as huge percentages of annual revenues are made up in the weeks of heightened consumer activity. What the season has the potential to mean for business owners who have bad credit is a relief from the pressures of their cash flow constraints as they make up reserves that can help them through the winter and allow them to work on improving and expanding their business. During the next few weeks, small business owners are going to be riding their businesses full speed ahead, and need to have solid financing plans in place in order to keep the wheels turning as fast as they can go. Make sure that you have enough inventory. If you anticipate a

This year has not been an easy one for small business owners, with bumps in the road from acts of nature to acts of government creating roadblocks, but there has been good news as well. For one thing, a gradual climb in optimism has been reported, with slight dips following the government shutdown. The economy is generally recovering as well, although on a bumpy, winding road. One of the biggest problems that has been holding small business owners back is the fact that there is relatively little in the way of small business financing available for all but the best credit risks from traditional banks. One the plus side, the financing gap is increasingly being filled by providers of alternative capital. Businesses without collateral, with bad credit scores, or even recently declared bankruptcy have been put between financing needs and the limitations of their cash flows. Alternative capital allows them to obtain financing with no restrictions placed on it, meaning they are free to allocate it

Business owners with bad credit are put into a predicament that can create conflicts of priorities surrounding expenses. If cash flows are not broad enough to finance projects, often they will have to be cancelled or scaled down, but knowing what to cut and what to preserve is often difficult. When a small business is the combination of many separate departments, it is essential that communication avenues are streamlined in order for a comprehensive budget to be created. Here are some strategies to employ in order to keep your small business’s ability to function safeguarded through the credit recovery process. Create a detailed budget report for each of your essential departments. While some small business owners will simply dump all of their expenses into one balance sheet and then reconcile it with their revenues, it makes much more sense in terms of deciding where to allocate a budget to break down expenses into departments. For example, if you find that your marketing is being severely neglected,

Small businesses often think that putting together an employee handbook is unnecessary and a waste of precious time that could be otherwise spent on more important matters. Everyone knows the company rules in a small business, so why bother with a whole formal write-up? In a certain sense, small business owners and employees who question the wisdom behind a write up are correct to do so. A write up for a very small company is unnecessary, and can actually become a liability if the information that it contains is misplaced or falls into the hands of a competitor. However, a manual for procedures, whether for individual departments or for the business at large, is important for when a business is ready to be scaled up, as it sets up a framework for growth. Much like a trellis allows a vine to climb steadily upwards, so a manual allows a small business’ s departments to grow steadily with greater ease.  Here are some other reasons that

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