Many small business owners utilize specific habits in regard to their finances that enable them to run a successful business. As there are a plethora of ways to sustain and improve their business’ financial success without making any major fundamental changes, some common habits are detailed below. Conduct regular reviews of financial statements: Reviewing the […]
Seasonal business owners are all too familiar with having to navigate through the fluctuations of the business throughout the year. This can be a very stressful task for any business owner (especially during the slower times) but it does not have to be. Below are some tips that can help small business owners combat seasonality […]
Due to a number of factors including high operational costs, inconsistent cash flows, regulatory challenges and depreciating equipment, among others, small businesses operating in the trucking/logistics industry are considered high risk companies and lending sources often deny their requests for the financing they may desperately need to keep their businesses running. However, despite that, there […]
According to the U.S. Bureau of Labor Statistics, approximately 20 percent of small businesses fail within the first year of operations and about 50 percent fail within the first five years. This can be attributed to a wide variety of factors. But as a small business owner, it is important to understand the main reasons […]
Most small business owners understand that marketing and advertising can play an important role in generating and growing revenue. But there are a wide variety of ways in which to do so and choosing the right options can seem like a daunting task, but it doesn’t have to be. It is important to first choose […]
Most small business owners understand that there likely will be a need to secure working capital at one point or another throughout the history of the company. Whether that be the new machine shop that is just trying to get started or the contractor that has been in business for over 30 years that is […]
A common phrase from small business owners across the country is that “things just feel slow right now.” For many, this slowdown didn’t start in January. It crept in late last year as the election season ramped up, and economic signals started to shift.Everyone had hopes that the dust would settle and things would return […]
As the midpoint of the year approaches, it may be tempting for small business owners to shift into cruise control mode, especially if their business has been performing well or at least holding steady up to this point. Staying steady isn’t the same as growing. For many business owners, the mid-year mark provides them with […]
How businesses can use financing to stay ahead, without overextending As a small business owner, if you’ve ever had to delay a project, turn down work, or hit pause on hiring—not because you lacked opportunity, but because cash flow wasn’t there—you’re not alone. It’s common amongst small business owners to ask: I know this opportunity […]