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It’s commonly heard that a business that started just a few months ago has already folded. It’s sad when promising businesses fail, but according to the Small Business Administration, census data indicates that more than 25 percent of new businesses don’t survive their first year, and more than half of them will fail within five…
Other Sources of Business Funding Small businesses tend to operate right on the edge, which means that most of them will need some financing assistance sooner or later. Unfortunately, getting a bank loan is not possible for a lot of growing businesses. More than half of all business loan applicants are denied, and most of…
In the world of business, growth is everything. If you have been trying to take your company to the next level, but haven’t quite been able to figure out how to do it, outsourcing might just be the answer.Outsourcing can help your company to grow in the following ways: 1. Maintain Flexibility Employees are…
If your business is moving through a tough time, cash flow can be a huge struggle. Even when sales are picking up and you’ve averted a real crisis, not being able to pay vendors or staff will stop your operations in their tracks. You may not think that you are lendable when your business is…
Follow these Ways to Manage Income and Expenses Properly A properly established budget can be a valuable tool when it comes to managing business expenses. It can be difficult to make meaningful estimations of income and expenses when business conditions are fluid, however. The following tips can help you gain an idea of how to…
One of the best things you can do for your business, whether it is just starting up or you are in a growth spurt, is to outsource a number of jobs. It lets your business scale up without costing you too much money. The problem is managing your outsourcing efforts. 1. The Recruitment Process Outsourcing…
How to Collect on Unpaid Invoices Some customers can have difficulty paying their invoices on time. When you come across such customers while doing business with them, there are a few things that you can do to help with collection. You can also take steps to ensure that this doesn’t happen in the future. The…
If you are a business owner, then you need to increase your company’s growth at every turn. If you don’t, you could miss out on major opportunities to improve profitability and increase your working capital. Instead of falling victim to common pitfalls, use the proven techniques in this article to help you grow your business…
Having good cash flow is great for a small business, but where you spend your capital is critical to your business’ success. Spend on the wrong things, and you could be looking at a quick failure. Spend on the right things, and you’re on the road to profit and success. Here are 6 key areas…
Accounting for more than 99 percent of all U.S. businesses, according to the Census Bureau, small businesses are the backbone of the country’s economy and job market. They create many products and services used on a daily basis by consumers and other companies. If you’re an entrepreneur who has a small business, you understand the…