This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
Owning a smallbusiness isnt just a job; its a full-blown adventure. The Everyday Risks of Running a SmallBusiness Running a smallbusiness is like jugglingexcept the balls are on fire, and someone keeps throwing new ones at you. Employee-Related Claims: Got employees? Like, really wrong?
We do like to talk about logo design , web design , startups, entrepreneurship, smallbusiness, leadership, social media, marketing, economics and other interesting stuff! How to Tell Your Small-Business Story – crowdspring.co/1zdweK9. 5 Ways To Help Employees You’re About To Lay Off | Fast Company – crowdspring.co/159KAQE.
companies can no longer afford to provide group health insurance to their employees. And both employers and employees alike have tried to make the most of a bad situation. In fact, since 2000, more than 10 million Americans have filed personal bankruptcy due to their employers’ failed health insurance plan. We said it.
Or a key vendor declares bankruptcy. To a smallbusiness owner who has a small number of customers, losing just one customer has a significant impact on organizational health. As a smallbusiness owner, of course you’re going to try to cut costs and stretch the budget wherever possible.
Saturn, Pontiac, and Hummer were all shuttered due to GM's bankruptcy, which occurred on June 1, 2009. John has invested in various smallbusinesses and served as a mentor and branding authority since his beginnings in 1992. When he starts a business, the only thing that matters to him is his employees.
However, the challenges you face are the same ones that every successful smallbusiness owner has faced and then surmounted in some way or another. It can be instructive and inspirational to hear about businesses that triumphed over adversity. How these six businesses worked with the SBA to grow.
You probably have a lot of questions surrounding what specific risks different types of coverage actually protect against, and whether or not they apply to your business. When it comes to insuring your business, factors like your location, industry, and the number of employees can all affect what coverages are applicable.
For a startup, sustained revenue is of paramount importance: a paucity of sales in one month could lead to bankruptcy the next. Big businesses live and die on budgets and are very astute in squeezing the vendor to get give-backs. To prevent disaster, it’s essential for startups to lock down a big client as soon as possible.
We asked some entrepreneurs and business owners, why they started their businesses: #1- From personal experience. I owned a mortgage company when the mortgage industry crashed and lost almost everything pushing me to the brink of personal bankruptcy. 7- Help smallbusiness in website ranking on Google.
Similarly, you’ll want to diminish your cash outflows by any means necessary; vaguely speaking, this means ‘cutting the costs of doing business,’ but more specifically it may entail getting rid of unessential employees or changing suppliers in order to secure better long-term financing on your deals.
That’s what happened to Chargify LLC, a provider of billing-management software to smallbusinesses, which used the freemium business model when it started out in 2009. If a merchant wanted to bill more than 50 customers monthly, then the business owner would have to start paying $49 a month. The Needham, Mass.,
It’s pretty tough to get the capital you need for a startup or smallbusiness with subpar credit. Work on rebuilding your credit now, regardless of whether you plan to start a smallbusiness, make a big purchase like a car or home, or otherwise need good credit in the near future.
If you are just plain tired of working so hard, or your startup is not getting the traction you expected, should you shut down cleanly, or just file for bankruptcy and walk away? For those who think that bankruptcy is the easy way out, think again. Bankruptcy should always be the absolutely last resort.
When you hear the question “What type of background checks should my smallbusiness run on employees?” you imagine that some invisible barrier exists between “small companies” and “large companies” that impacts which types of background screenings are and are not necessary. Professional Licenses.
An exit strategy is a method by which entrepreneurs and investors, especially those that have invested large sums of money in startup companies, transfer ownership of their business to a third party, or by which they recoup money invested in the business. Liquidation: For smallbusinesses, liquidation is a common exit strategy.
If you are just plain tired of working so hard, or your startup is not getting the traction you expected, should you shut down cleanly, or just file for bankruptcy and walk away? For those who think that bankruptcy is the easy way out, think again. Bankruptcy should always be the absolutely last resort.
A Facebook employee (FBe) gave a talk about measuring ROI/Value of Facebook campaigns. If you are looking for inspiration … my absolute favorite smallbusiness example is Seventh Generation. I can't think of even one other business that understands its Facebook audience as well as they do. Facebook Brand Pages.
After thinking about how much I enjoyed helping her business grow and learning all I could about business structure, marketing, SEO and social media to name a few, I decided to take these new skills and help other smallbusiness owners. My company now helps any new or existing business grow and succeed.
As a smallbusiness owner, it’s important to prepare for the worst-case scenario, in which you’re no longer able to perform the duties essential to running your business. According to the Council for Disability Awareness , medical expenses accounted for 62% of all personal bankruptcies filed in the U.S.
If you make a mistake or cause harm to someone while doing business, you might get sued and be held personally liable for the damages. If your business is unable to weather the current economic storm and has to close or file bankruptcy, you can be held personally liable for any outstanding debts.
By Keith Tully of Real Business Rescue. When your business is failing and bankruptcy seems imminent it can be easy to trick yourself into thinking there are no options left, especially if you have poor business credit and a multitude of financial obligations and debts to deal with. Conclusion.
Business insurance will save your business from falling apart in case an outbreak or financial crunch strikes in the future. In addition to helping you, your employees will also not have to bear the brunt of the times if you plan well in advance. Employee care. Cover disaster.
Image via Pixabay As a mentor to many smallbusiness owners, I always caution them that you can never relax completely, just because your initial solution or product set appears to be getting traction, and the market buzz is positive. Convert to working “on the business” vs “in the business.”
When building a startup’s operations, some things may seem inconsequential, but they can be the difference between your business making it past the five year mark, or sinking beneath the bankruptcy seas. For example, one part of your infrastructure is the employee working environment you create. The Abstract Angle.
Plus, you can give multiple employees access so everyone doesn’t have to deal with signing in to each platform individually. Kin : If you need to simplify all of the employee paperwork and files, then check out Kin. You can track business deals and share all of the details with your team. That’s right, it’s free.
According to the SmallBusiness Administration, there are over 627,000 new businesses that open each year. During times of crisis, there are some things that startup businesses, regardless of the business, must know and understand so that they can be prepared. Transparency With Employees.
We all incur a creation amount of bad debt in the course of running our business. You may have difficulty collecting certain receivables or the recession may have forced some of your vendors into bankruptcy, rendering their debts worthless. If your employees traveled for work in 2010 this expenses can be deducted. Skool days!
Franchising — an arrangement where one party grants another party the right to use its trademark or trade name as well as certain business systems and processes to provide a good or service according to certain specifications — provides local, smallbusiness owners with instant, national brand recognition and an immediate, competitive edge.
CNBC’s new show, The Profit , starring businessman Marcus Lemonis, should be required, must-see-TV for any smallbusiness owner. The Profit focuses on providing valuable advice to the chosen smallbusiness in hopes of rescuing them from impending bankruptcy or other struggles. Embrace Change, Don’t Resist It.
Thirty years ago when I started my company, I probably would never have said it takes courage to lead a smallbusiness, but without it, I assure you, you’ll fail. My firm, like many businesses, endured tough economic times after the 9/11 attacks. Revenue dropped and bankruptcy loomed as a real possibility.
It also involves developing and continuously improving on a set of skills in order to move your business from where it is today to where you want it to be tomorrow. First, great procedures and processes need controls, and these in turn create great employees. Secondly, don’t stop at pointing out what should be done and how.
by Priyanka Prakash, Fit SmallBusiness and Fit Biz Loans. Every smallbusiness is different when it comes to the need for financing. Some entrepreneurs can’t start their businesses without taking out a loan. Others completely bootstrap their businesses without borrowing a cent.
From sayings like “If you want the job done right, do it yourself” to the belief that the longer you stay at the office, the better employee you are, it’s clear that Americans think that spilling one’s blood, sweat, and tears is a noble calling. Our culture puts hard work on a pedestal. Stop viewing debt as negative.
Personal information, such as a social security number, is not used to establish a business credit profile. Instead, credit bureaus use your business name, address and a Federal Tax Identification number (FIN), or Employee Identification Number (EIN), to create a profile completely separate from your personal credit history.
As a smallbusiness owner of a London based sustainable fashion brand, and more recently an online business teaching sewing and patternmaking skills, I had multiple reasons for starting my own businesses. Clients needed transparency and accountability from their agency, employees craved trust and flexibility.
Recently, Palo Alto Software CEO Sabrina Parsons hosted a webinar for our Bcast members on how to use LivePlan to create a better business plan, pitch your idea to investors, and track your business. As a successful smallbusiness owner, Sabrina wanted to show off how LivePlan’s many features can help boost your business.
I’ve been investing in, buying and restructuring smallbusinesses for over 20 years and it’s a passion of mine to see everyone succeed from employees to shareholders, owners and investors. Inspire Employee Engagement Year Round. by Ted Karkus, CEO of Prophase Labs. The same ratio holds for our other forms of advertising.
From sayings like “If you want the job done right, do it yourself” to the belief that the longer you stay at the office, the better employee you are, it’s clear that Americans think that spilling one’s blood, sweat, and tears is a noble calling. Our culture puts hard work on a pedestal.
It’s a risk and it will make many aspects of running a business harder: getting loans; attracting investors; paying suppliers and employees, and growing the business. This may result in a negative cash flow, which, if not managed carefully over time, could eventually force you into bankruptcy. Write this down.
The variables associated with lawsuits can make a smallbusiness fear the financial damage a large legal complaint could cause. Liability coverage limits are the place to cut corners for the business’ budget. With lawsuit amounts being variable, if sued for too much, startups encountering one suit can be forced into bankruptcy.
I then realized that the airline in question had had a series of cutbacks as part of a proposed merger and what I was seeing was probably a reflection of the way these employees were feeling about how they felt they were being treated by their company. Their employees provided you with an unforgettable experience, usually with a smile.
Recognize a business for purposes of tax documentation. Identify what businessemployees filing taxes work for. Essentially, any business that has employees needs to obtain one, but depending on such things as the type of tax return you file, you may need one even if you have no employees.
Hackers are in this business to steal data, and no business is too small to face cyber risks. Let’s explore some of the most common cyber threats facing smallbusinesses. According to a Forbes prediction, cyber warfare will rise by a whopping 300% in 2020, mostly on smallbusinesses. Ransomware.
When smallbusiness owners talk about taking on an additional investor, they typically say something nondescript like, “We’re taking on an angel investor.” Needless to say, if all else is equal, a traditional equity investment is better for you, the smallbusiness owner. Structure of the investment.
We organize all of the trending information in your field so you don't have to. Join 5,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content