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 […]
Securing business financing can seem like a demanding process to small business owners as there are several aspects the borrower needs to consider prior to applying, such as what documents are needed to apply, how do they know if they qualify and what types of options are even available to them. If you are considering […]
Given the uncertainties of market conditions and the evolving economic landscape, it is imperative that small business owners take a proactive approach to these changes instead of just reacting to them. In an ever-changing and evolving economic landscape, small business owners cannot afford to be reactive. Instead, they must take decisive, strategic actions to secure […]
Running a small business often times requires working long hours every day, handling the majority of the business’ day-to-day tasks, while sacrificing valuable time with family and friends or life outside work. If this becomes a continuous trend, a business owner will almost certainly begin to start feeling overworked or burnt out, which can be […]