New entrepreneurs are often caught off guard by the realities of running a small business. They might discover that certain aspects of their day-to-day operations are much more complicated than they initially thought. Perhaps the best example is merchant services, or the way businesses accept and process different payment methods. To your customer, this seems […]
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On top of their numerous day-to-day responsibilities, business owners must consistently make sure to remain in compliance with federal, state, and local regulations. These legal requirements affect all businesses and can quickly become one of the most stressful aspects of entrepreneurship. But you cannot open or continue running your business without fulfilling the necessary regulations, […]
Although remote work may have once only been possible for large or global enterprises, small businesses today are often just as privy to flexible, at-home work benefits as the much larger organizations in their industry. According to Owl Labs, smaller companies are twice as likely to hire full-time remote workers, as these employees can help drive down overhead costs like electricity and renting out office space.
The biggest misconception many small business owners have about business credit is that they have a business credit profile. What’s more, of those business owners that are aware and mindful of their business credit, many of them have likely never heard of the FICO SBSS Score, or FICO Small Business Scoring Service.
APR, which stands for “annual percentage rate,” makes it very easy to compare the costs of different business loans or credit cards. The need to calculate APR stems from the fact that in addition to interest or factor rates, most business loans have multiple fees. This can include loan origination fees, document preparation fees, processing fees, credit check fees, etc. Financial institutions often advertise low interest rates without disclosing the accompanying costs.
If you’re the owner of a new business, you may have heard about filing what is known as a “DBA,” which stands for “Doing Business As.” This legal term can be compared to “LLC” or “S-Corp” because it refers to yet another form of registration for businesses. Unless you’re a lawyer, you’ve probably never heard of a DBA before. Take a number. But depending on your state, city, county, or type of business, you may be legally required to file a DBA.
In this guide, we’ll explain what a UCC filing is, why you need to be familiar with a UCC filing, and when you will most likely get your first experience with one.
No business owner wants to think about property damage and legal claims. They already have enough to worry about. And how many companies have had to use their business insurance? Well, for those that did, the decision to purchase the right insurance package likely prevented their companies from going under.
If you were to ask a group of business owners about their worst nightmare, most of them would probably say “filing for bankruptcy.” Few words in the business world carry this much dread. Many believe that having no choice but to file for business bankruptcy confirms that you’ve officially hit rock bottom. It means your business has failed, and the fact that you now have a bankruptcy on your record will change your personal and professional life forever.
Most small businesses do what they can to ensure momentum. A series of wins can snowball your company from startup to local celebrity status in a heartbeat, after all. Professional growth and development lean on one central element: forward motion. If something threatens your professional advancement, such as a high-dollar liability claim, your company could […]