Archive for small business tips

May
11

How to Acquire Cash Flow

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small-business-loan-increase-cash-flowThe biggest struggle amongst small businesses is effectively maintaining cash flow when the economy is in a massive slump.  This is a dilemma small businesses worldwide face today.  If your business is struggling to make ends meet, call one of our unsecured business loan experts today.  In the meantime, check out our tips on how to preserve expenses for your company.

Go Old School

When running a business there are many expensive tasks to oversee.  You are not going to be able to do it all yourself, and since finances are tight then forget about hiring outside consultants.  Instead, go old school and barter for services.

Bartering saves your business money in the end while attaining services needed to continue growing and increasing customers.  Think about what services you can exchange with other businesses, including advertising, travel services and bookkeeping.

Find a Silent Investor

This is one of the most difficult tasks to achieve, especially with the recession.  No one wants to provide funding to a small business and if he/she does, then the investor wants a say in daily operations.  This is a huge hassle.  However, if you are able to find someone to invest in your business without losing ownership and control, then it is an option to look into.  It saves your cash flow from having to be spent on the expenses covered by your investor.

To find out more about how to finance your small business, call one of our small business loan specialists now!

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credit-card-tips-business-unsecured-business-loanThere are many benefits to having a company credit card.  One is it keeps track of your expenses and two it builds your business financial credit.  But the important thing to note is do not go hog wild with your business credit card.  If you do, you put your entire business at-risk.  To ensure this does not occur, here are my top four tips on how to manage a business credit card successfully.

Limit the Number of Business Credit Cards

Do not get an abundance of company credit cards.  Two should be sufficient for your business.  If you try to manage multiple cards, then you may lose track of spending.

Think Before You Swipe

Use common sense when using the credit card.  Do not use it on anything frivolous.  Preserve it for essentials and/or big necessary purchases.  Think along the lines of new restaurant equipment, bookkeeping and IT expenses.

Choose One with Big Rewards

The credit card industry is extremely competitive.  Thus, find one with rewards matching your needs.  There are cards available offering flight discounts, cash back, store discounts and more.  Find one most suitable for your business.

Use the Statements to Evaluate Expenses

Utilize the monthly and yearly statements to make wiser spending choices in the future.  It is easy to see where the money is being spent versus where it needs to go when examining the statements.  Use them to your advantage.

If your company is in a financial slump, call one of our unsecured business loans or small business loan experts today!

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save-money-tips-for-small-business-loan-unsecuredNo one ever said running your own business would be easy.  Add to it the recession factor and you have small businesses shutting down their doors.  So how do you keep your business afloat while the rest are sinking?  Cut the appropriate expenses before they deplete your profits.  Here are my top two ways to save money to make your business a success in 2011.

Buy Used Restaurant or Business Equipment

Many small businesses are going out of business.  Thus, take advantage of this situation by buying their used office furniture, printers, restaurant grade equipment, warehouse lifts, etc…  Whatever field you are in, seek out the appropriate equipment.  You will save money by following this step.  But verify the used equipment does not have any recall or safety issues before purchasing.

Hire a Reputable Professional for Bookkeeping and Contracts

If you have no idea how to create a legal document and you attempt to do it yourself, spend too much money on time having to repeat it until you get it right and still fall short, then forget it.  Save your money by hiring an outside professional to do it right the first time.  You do not have to find the most expensive lawyer to do your contracts, but do not find the cheapest either.  You need someone who knows what he/she is doing to ensure you stay out of any lawsuits or courthouses.  This saves you money in the long run.

If you are starting your own business and are tight on money, call one of our unsecured business loan or small business loan professionals today!

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