Small business owners are a group who can vary widely in their familiarity with technology, from extremely adept bordering on savant, to uninterested and skeptical on a fundamental level. That being said, for small business owners in the modern age, a lack of technological inclination has gone from quirky to borderline irresponsible, as the value of e-commerce as well as the exposure that can come from having a place on the internet grows. In fact, this year is projected to be the biggest ever for e-commerce spending, something that business owners without websites have no means of tapping into. When bad credit  business financing concerns are added to the equation, it can be harder for business owners to convince themselves to spend on a website. That said, odds are good that if they take the time to sufficiently research and plan the development of their website, it will be able to repay them for their investment. For one thing, even if their business does not

Student loans can be a double edged sword, on the one hand allowing students to pursue higher education and obtain skills that can fuel the success of their careers, at the price of large amounts of debt at a young age that can be very difficult to overcome, especially if there is no way to refinance the debt into a more manageable package. For young entrepreneurs, managing debt while building a business means being strong at defining priority and having an understanding of what parts of your business need to grow in order to support others. Employee management can also be a challenge, since if you are not managing millennial employees, there is a chance that your relative lack of experience can make it tougher to lead managers in the middle or endgame of their careers. While it can be disheartening to contend with the challenges of business management while managing debt, through identifying priorities, carefully managing collections and trusting in the effectiveness of your

When running a business with bad credit, making something out of nothing is a skill that can come very much in handy, especially when it comes to marketing which can be very expensive when left to third party agencies. Bad credit business financing means knowing where you have to spend and where you can scale back, and fortunately for small business owners, there is a lot of functionality that they can tap into without tapping into their cash flows if they know where to look and what to do with what they have. Be open to potential new technologies. In order to begin adopting new free technology, you have to know how to find it. Millennial employees are often a great source of ideas pertaining to a business’s use of technology, since they are usually pretty well acquainted with the use of tech in their daily lives. One example of a technology that was popularized by millennials becoming a platform for savvy marketing is Snapchat, a temporary

Halloween is rapidly approaching, and if you don’t enjoy the season now, then it may quickly pass you by. Having fun at your small business should not overshadow budget management or productivity, but engaging in some Halloween activities within reason can give your team a boost of morale and bring you closer together, increasing your ability to work effectively. Here are five low budget ideas that can get your team in the spirit of Halloween in the next couple of weeks. Bring in some special snacks. A special treat in the break room is always something that is well received, and you can choose the level that you want to take this idea to from simply buying some snacks to preparing them yourself. You might also want to involve your employees, allowing them to volunteer to bring something in so that there is more to go around for everyone. Have a costume day. Casual Friday is an old business trope, but you can take it further this

Financing is an often mentioned yet poorly understood aspect of running a business. In addition to being vital when looking for business loans or bad credit alternatives, it’s important to understand in terms of pricing and time in the course of the day to day. In an article, BlueVine CEO and Founder Eyal Lifshitz offered some perspective on common financing errors made by small business owners, with the last point focusing on discounts related to expediting collections. The article points out that when a discount is offered in order to get paid faster, financing comes into play. A 10 percent discount for up front payment would seem advantageous, until compared with a scenario wherein financing is obtained for the month at a 4% rate for the month, allowing for cash on hand to last the month, with the full collection amount being gathered in the 30 day term. In the end this strategy saves the business owner 6% of what they would have lost

As reported by Yahoo Small Business, the WAIN Street monthly business default index reports a decrease in default rate for small business loans from the first half of the year by .11 percent for a rate of 6.98 percent, with rates at pre-recession levels. Additionally, the index revealed that the lowest default rates were concentrated around the smallest of the small businesses included in the index, with a 4.05 percent default rate among sole proprietors and 5.65 percent among those with fewer than 20 employees. With strong credit performance coming from these businesses, it bodes well for the growth of their credit options going into the next few quarters. The smallest SMBs have had some of the hardest times applying for financing from traditional banks. The fact that they are some of the strongest performers when it comes to paying back debt obligations makes this fact even more pronounced, however, due to excessive costs related to underwriting small business loans that do not slide with the

Cash flows must be managed carefully in order to allow a business to grow at an optimal rate, in the same way that a plant needs the right balance of water and sunshine to grow. There needs to be enough cash on hand at any given time to allow for maneuverability within the business, lest business owners find themselves needing to have cash on hand that is tied up in inventory or already spent on other aspects of business development. Conversely, if a business holds on to too much capital and does not invest it into the things that they need to meet client demand, they can wind up losing business to competitors who are more poised to deliver quickly. How should your business find a balance? While there is no way to predict the future with absolute certainty, as a business grows a clearer picture of how much cash should be kept on hand will start to form through experience. For example, when a

  While Facebook holds sway over one of the largest and most engaged social media audiences, access to the feeds of its users has become an increasingly hot, and pricey commodity. Many small business owners are learning a tough lesson as the social media giant throttles the organic reach of its business pages in a move to force advertisers to invest in paid reach. The question of whether or not Facebook’s organic business page reach has been pushed back has been raised earlier this year, but has now gone from speculation to reality as marketers report almost non-existent views being won by their non-promoted content. Facebook is delivering less and charging more. According to numbers reported by The Hub, the average price of a Facebook ad increased by 123% over last year, while in the same period ad impressions decreased by 25%. For small business owners, paying more for less is simply option, especially when business financing is still so tough to get from traditional banking

Bad credit business loan alternatives continue to grow in popularity, as credit has largely remained tight for small businesses on the part of traditional lenders. Using merchant cash advance to keep a business growing through a period of bad credit issues or as bridge financing while growing into traditional loan eligibility are both common applications of this type of funding, which due to its expedited underwriting speed can be used in a pinch when other funding sources would be too slow. Even so, business owners should be aware of what goes into an application and what will effect how much they can qualify for. Bank statements are an important part of an application. Knowing what yours look like can help create a better picture of what you can qualify for. Generally, business owners will need to submit their three most recent months of bank statements for their primary business banking account. The number of deposits, frequency and size all play a part in determining the

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