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Stay on Top of Invoices for Steady Cash Flow Late-paying customers are often one of the most significant challenges that small business owners face. Even though you might think that people will pay you on time for an excellent service, there are a lot of people who will stretch their credit as far as they…
Tips to Quickly Increase Your Company’s Profit Margins Many business owners will look first at increasing sales when they want to boost their profits. However, increasing sales is a long-term strategy, and it can be expensive in terms of increased marketing and pre-sales costs. Fortunately, there are other ways that a business can improve its…
From Cutting Costs to Collecting on Payments, How to Survive an Economic Downturn Since the coronavirus outbreak, we’ve seen the sharpest economic contraction in modern history with a staggering 32.9% drop in the GDP. As a business owner, you may be suffering from the effects of the extensive economic downtown and wondering what you…
Funding Options You Should Consider Right Now Running a small business can be a risky venture. Many small business owners borrow against personal assets to fund the cost of operating and growing their company. However, by doing so, the owners risk losing those assets, such as the family home, their retirement savings and more. There…
Sell Your Accounts Receivable for Steady Cash Flow No two companies are exactly alike. Even similar companies serving the same industry can have vastly different ways of earning money, completely different spending strategies and differing ways of handling accounts receivable. That’s the beauty of the business world, but also the bane of many commercial financial…
Preserve Your Cash and Prevent Business Fraud Businesses often have trouble with cash flow so an offer for a business loan can seem very tempting. Many unscrupulous operators take advantage of the need for access to working capital and lure business owners into scams in which they part with their money and receive nothing in…
Save Money and Do More with Less When times are tough, you need to cut corners at your small business wherever you can if you want it to survive. You can save on costs by outsourcing certain tasks rather than spending time doing them yourself or hiring new staff for them. In fact, there are…
Defuse Tense Situations and Retain Loyal Customers In every business at some moment in time, there will be an angry or disgruntled customer. If you do not deal with the annoyed consumer in the correct way, you can make the situation worse causing unnecessary drama and possibly negative reviews that can damage your reputation. These…
Recession-proof Your Business with these Simple Tips An economic downturn can spell disaster for a typical small business owner. Small businesses often run at a very tight margin, and may not have the capacity to cut prices or significantly lower costs. This presents their business leaders with some sizable challenges, and it’s not surprising that…
Tips to Keep Your Business Operating and Your Customers Happy Finding ways to keep your company operating during a crisis isn’t an easy task for most small business owners. Always staying proactive is essential to the success of your business, whether you are dealing with a global pandemic, an economic recession, or a cybersecurity incident….