Credit can play a major role in shaping the way small business owners expand their operations. A bad credit business loan or alternative is a different product from a traditional small business loan, and depending on which product is being used, strategies will need to be tweaked or abandoned and replaced accordingly. In the interest of saving time, knowing what options your business will qualify for and which are a stretch is important, but that’s not the only reason that small business owners should know the strength of their credit scores before they apply for financing. Bad credit isn’t the only thing that can show up on your reports. For small business owners who have bad credit, when their reports are pulled they should understand that other financial issues they may have had in the past will also show up. Depending on the service being used to report on them, things such as tax liens, foreclosures, open balances and bankruptcies can show up as well

Working capital can represent a serious constraint for publicly traded companies. Without sufficient capital, they may stand on the wrong side of gaps in capacity with no clear way to bridge them. In the case that they require an immediate acquisition of new equipment, personnel or software in order to pursue growth opportunities, but cannot allocate all of their resources to pursuing this growth, they are faced with a dilemma. Is it better to bet on your success with everything you have, placing the cash flows of the business up against a project’s ability to perform, or is it better to wait until the business is robust enough to approach the former constraint, assuming it is not too late to complete the project? That decision depends on many factors that business owners must be ale to gauge, but simply knowing that they are able to obtain capital is helpful when evaluating options. Use working capital to fuel high return investments. Identifying what avenues are the most

A proposed increase of the Federal minimum wage, to $10.10 from the current rate of $7.25 per hour, has small business owners taking sides both for and against the motion. The Daily Beast has put out an article citing studies that indicate a wage increase would do more good than harm to the economy by putting some spending power back into the hands of our lowest paid workers. This sentiment has been echoed by small business owners who are for the wage increase, many of whom already pay their employees a higher wage but support the idea of a wage hike as beneficial for the economy. On the other side of the issue are small business owners and lawmakers who worry that a wage increase could put small business owners who are already standing on shaky ground six feet under. In an article contributed to Forbes by William Dunkleberg, the wage increase is argued to be a sure job killer that only makes it more

While small business indicators in the Winter showed that both confidence and loan volumes are present among the small business community, the icy climates that held sway over much of the continental US made it so that many small business owners had to put their plans on hold, or even cancel them entirely as a result of lower than anticipated sales volumes. Some industries were more hard hit than others, for example, commercial trucking businesses had to cope with the weather and its effect on their business even if they were not directly in the path of major storms. Still, the storms could not freeze out the hope of a recovery this year, and as the ice and snows thaw, the will and means for economic growth could come back stronger than the past few years. Business hopes for recovery are not merely founded on conjecture. Kiplinger’s reports that the forecast for 2014 should be strong as weather becomes less and less of a barrier for

You have bad credit, a business and, at long last, a bad credit business financing product that you can use to fuel your growth. Now what you need is a plan. It can be irksome to think that, after all the effort they have put in to obtaining capital, small business owners need to create yet another plan, but it is necessary to be 100% sure that you have made the best possible use of your funding. The key to a strategic use of capital is ensuring that your investments will have the ability to create a return for your business, but within this consideration is the acknowledgement that different types of business improvements will create ROI within different time frames. Investing in PPC marketing, for example, will create an immediate influx of leads with the potential to bring some much needed cash flow into your business. On the other side of the coin, purchasing new machinery that alows your business to process more orders

Small business owners are usually fairly adept problem solvers, but no matter how crafty they are, sooner or later they will come up against a problem that requires an extra level of thought to work out. These challenges are usually the tough nuts to crack that make way for real progress once they are worked out, so finding solutions in as short an amount of time as possible is in the best interest of small business owners. There are many ways to get better at critical thinking, and the good news is that by diversifying the range of ways you approach difficult problems, you will be able to create more ideas for solving your issues. Here are some ways that small business owners can develop a wider range of techniques for approaching problems, allowing them to solve a wider range of issues and apply more astute improvements to their businesses. Have a cup of coffee or green tea. While over-consumption of caffeine carries some negative health

When you’re the owner of a growing small business, but you also have bad credit or other financial blemishes that banks dislike, you will often find that you need to think more strategically about the way you manage your finances. While this doesn’t mean that your business can’t use bad credit business loan alternatives and other forms of bad credit business financing to fund expansion and improvements, it does mean that you need to think more carefully about when and how you use these resources. 1) Planning bad credit business financing does not mean you have to stop spending. But it does mean you have to assign a real value to how you spend your money in terms of what is essential for your operations, and what is creating ROI. Wasteful expenditures should be eliminated and then the freed up capital either saved or put to work for repairing your credit  score. Paying off debts on time contributes to the rebuilding of credit, so in the

It’s often the case that business matters can keep an entrepreneur firmly rooted in the present, while at the same time they are dreaming about the future. In a slowly recovering economy, it can be tough to take the time out of your already busy day in order to think about what will be important a long way down the road (or not so long, depending). As you grow out your current business, however, it’s important to spare some thought to where you will be in the years to come and begin to create a plan for your retirement. What a small business owner feels comfortable with will largely depend on their economic and personal situations, so there is no real “one size fits all” advice when it comes to bad credit business financing and the balancing acts to be found therein, however, business owners can, and should, survey their options to determine what they feel comfortable with. A Roth IRA can help you build

As the Summer months get closer and closer, students all across the country are beginning to look for placement in internships where they can sharpen their skills and gain some real world experience. Taking on an intern at your small business can potentially help you manage your business more easily with the help of a motivated younger professional, which can have a very positive effect on your ability to get more done. Grooming interns is a great way to create a pool of fresh, talented, and most importantly, pre-trained potential full time employees, and training prospective hires as interns is more cost effective than giving them lengthy on the job training, as interns will usually work for either class credit, hourly wage, or stipend. Interested in having interns? Define your program before you begin your search. While as a general rule there are more prospective interns than internships, you are still going to want to try to attract the best and brightest from among to group

Bad credit business financing it tough enough without accounting for lost employee productivity. However, as a small business owner you need to realize that your employees are just as human as you are, and subject to emergencies that will take them out of the office from time to time. Preventing these gaps in productivity outright is impossible, but minimizing the time that your employees need to take off from wok is possible through  promoting a company culture of health, positivity and communication. Health consciousness can keep sick days down. Every year, flu season comes at around the same time, and each year, thousands of workers lose time in the office. Make your employees aware of basic healthy practices such as getting their flu shots, washing their hands regularly and drinking the recommended amount of water each day in order to keep their immune systems strong. Something as simple as a company-wide email combined with posters in bathrooms and common areas can have a real impact on how

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