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21 May
Success is Determined by Choices not Chance

Much like destiny, the success of your business is determined by the choices you make for the business, not by chance

Invoice factoring success with American Receivable

One of the most important choices, when starting or running a business, is financing. Every business needs capital in order to run smoothly. Fixed expenses like rent, payroll, taxes, and insurance have to be met or there will be no place to do business and no employees to work in the business. It is important to look at options and choose the one that will be most likely to ensure success for your business.

A business that is not eligible or does not meet criteria for traditional bank loans has to look beyond the bank for alternate sources of capital...

Bank loans also require repayment according to specific terms of the loan. Most businesses have some customers that pay on time. However, it is the customers that tend to be slower to pay and often go over 30 days, that result in cash deficits for the company. When the invoices are not paid, the owner sees a slow down in cash flow, which affects his ability to continue doing business as usual. Without consistent cash flow, the business owner may not be able to pay his employees or hire additional help. Purchasing inventory is difficult when the business does not have enough cash coming in to cover expenses necessary for the success of the business. This, along with rent, insurance, and other operating expenses are vital to the continued growth and sustainability of the business.

Invoice factoring, or receivable financing, referred to as "factoring"...

Is a great way for business owners to guarantee consistent cash flow for their business. Factoring is an age-old form of non-traditional funding for businesses. Invoice factoring allows business owners to use their own assets as a viable source of cash flow, and, without incurring debt.

American Receivable has been helping businesses for 40 years with their cash flow solutions...

Rated #1 among factoring companies nationally, American Receivable purchases invoices from the business and provides a percentage of the invoice to the business for those receivables. The business owner can use the money at their own discretion to better serve the immediate needs of the business. The business owner maintains control of running his business, his way. When the customer American Receivable and the business owner gets the remaining funds called "reserve" less agreed upon fees.

American Receivable works directly with each client to find solutions for their specific needs. The business owner does not have to sell all of his invoices, just the ones they choose. As needs change, American Receivable works with the business helping them continue to grow.

06 May
Alternative Financing for Your Business if the Bank Said No

Bank Said No? Top 5 Alternative Financing Options for Your Small Business

Madeline owns a small printing business and needs additional capital to purchase new equipment and to hire an extra sales representative. She approached her local bank for a traditional small business loan and was declined. Devastated, Madeline doesn’t understand why her successful business can’t secure a traditional bank loan. Unfortunately, this happens more than you would think. Small businesses are often unable to secure traditional loans to fund growth and get needed cash for expenses. That’s where alternative financing can greatly benefit small business owners like Madeline. With so many alternative financing options available, your small business can find the capital you need to grow, fund research and development, increase inventory and pay your expenses.

American Receivable 8 Alternative Financing Sources For Small Businesses

Here are the top 5 alternative financing sources for your small business:

1. Invoice Factoring

This is one of the best options for small businesses with money tied up in accounts receivable. An invoice factoring company, such as American Receivable, will purchase your current, outstanding invoices and give you a percentage of the value. When American Receivable collects payment on the invoice from your client, you receive the remaining amount due on the invoice, less a small factoring fee. Invoice factoring gets you the cash you need right away! A true advantage of this alternative financing option is that your eligibility is based on your client’s ability to pay, not your company’s credit rating.

Call 1-800-297-6652 for a free quote from American Receivable.

2. Personal Loans

These allow you to use your personal credit score and household income to get money for your business. A personal loan will be smaller than a business loan but can give you some alternative financing for your new small business.

3. SBA Loans

Loans from the SBA are guaranteed in part by the Small Business Administration. SBA loans are originated by traditional loan producers, but a portion is guaranteed by the SBA if you default. It allows a small business who otherwise would not qualify for a loan to get needed funds. The downside is that an SBA loan can have a lengthy application process, and it can be difficult to qualify.

4. Business Credit Cards

These accounts allow you to pay for business expenses without applying for a loan. You can even earn rewards and build your business credit score. It’s a bonus if you can find a card offering an introductory 0% APR for the first year. The downside is keeping a running balance for the long term can add up to higher costs owed if you are not careful.

5. Business Grants

These are the most difficult form of alternative financing to come by, but if you find your business qualifies for a business grant, you get free money to fund your business. Many business grants are government funded and geared towards veteran and minority-owned businesses.

Good News for This Small Business Owner

Madeline contacted American Receivable and was able to get the cash she needed to fund payroll and new equipment. With the increased sales from the new sales representative, she was also able to apply for a line of credit. Alternative financing options worked for Madeline’s small business. Which one will work for yours?

American Receivable has been helping small businesses with alternative financing since 1979 and is ranked #1 among the nation’s factoring companies. Find out how invoice factoring can be a solution to your business’s cash flow needs.

Call for a FREE Quote Today: 1-800-297-6652 or complete an application for factoring online.

30 Apr
Tips to Avoid Cash Flow Issues from Non-paying Customers

Top 5 Tips to Protect Yourself from Slow Paying Customers Affecting Cash Flow

What happens when one of your favorite customers stop paying their outstanding invoices on time? I may not be a good idea to take drastic action and potentially damage the relationship. However, you don’t want to jeopardize your company’s cash flow and negatively impact your bottom line. Here are five tips on how to protect your company from cash-strapped customers, and avoid letting their lack of cash flow affect your bottom line.

Top 5 Tips to Protect Yourself from Slow Paying Customers Affecting Cash Flow

1. Look for signs of trouble. Here are some examples:

  1. Payments consistently not coming in regularly and on time
  2. Payments made from a personal account or credit card.
  3. The client keeps asking for more and more extensions?
  4. A new client approaches you because they were “fired” by your competitor.

These are all warning signs that your customer may be having some major cash flow issues.

2. Understand Bankruptcy Laws in your State.

If your customer goes into bankruptcy, it’s important to understand your rights and chances of receiving back payments as a creditor. Unfortunately, any payments you received with 90 days of their filing for bankruptcy may be recalled. If you did business with your client within 20 days of filing, you may have better chances of getting paid. Know how a customer’s bankruptcy filing can affect your cash flow. Understand how collection actions may affect or hinder your case for receiving payments. It may be wise to contact an attorney if the customer is a significant part of your overall income.

3. Don’t accept new business from a client that is having financial problems.

It’s a tough choice to make, but refusing future business from a client that has stopped paying on time can be the wisest business decision. Before you take this more drastic step, do your due diligence and see if there are expected upturns in your client’s industry or, if feasible, have an honest conversation and see if there are indications of improvement and cash flow growth for their company in the near future.

4. Look for alternative ways to obtain money on your receivables.

Invoice Factoring can put money in your hands and improve your cash flow. An invoice factoring company, such as American Receivable, will purchase your unpaid invoices and give you a percentage of the value. When American Receivable collects payment on the invoice from your client, you receive the remaining amount due on the invoice, less the agreed upon fees.

To learn more about Invoice Factoring, visit American Receivable’s website.

5. Look for alternative ways to get paid by the customer.

  1. Require a deposit or prepayment for any future business. This will give your company cash flow up front, and protect you—at least partially—from any possible future non-payment. You can adjust the percentage of the down payment based on the perceived risk.
  2. Require payments at benchmark points during the contracted work. This will hedge against the need for a single, large invoice at the completion of the job. Partial payments can be set up monthly, or you can help your cash flow by arranging for payments at key points in the job cycle.
  3. Change the invoice terms and set up a financing plan. Instead of Net 15 or 30, can you set up a payment plan that allows the company to pay over a longer period of time with added interest payments?
  4. Exchange services for services. Does your customer have a business for which you can utilize their services in exchange for yours? If they do not have the cash flow to pay their invoice, you can set up a barter transaction.
  5. Similar to barter, you can negotiate the transfer of assets instead of cash payment on an invoice.
  6. Discuss their cash flow. Is it a seasonal business and their cash flow will improve in the coming months? Is your cash strapped customer coming into a large payment soon, or will one of their debts be paid off in the near future? In other words, will their business and cash flow improve soon enough that they can pay their outstanding balance to you in a reasonable time frame?
  7. As a last resort, you can look at collections options or talk to an attorney.
  8. As a business owner, protecting yourself from non-paying, cash-strapped customers can be difficult. Understand the challenges of running a business, and understand the cash flow problems that can occur. It’s important to look for the red flags of failing business, and find solutions to alleviate the effects they have on your business.

    The Solution in Invoice Factoring

    Find out how American Receivable can offset issues from cash flow problems caused by non-paying customers. American Receivable is the industry leader in invoice factoring, helping your company obtain the financial resources they need to grow, increase inventory, make payroll on time and effectively compete in the marketplace.

    Call for a FREE Quote Today: 1-800-297-6652 or complete an application for factoring online.

23 Apr
American Receivable Rated #1

American Receivable Corporation Has Been Rated #1 Among Factoring Companies…

…nationally, for the 5th consecutive year by Business.com and Business News Daily! – “Best Factoring Companies 2019.”

American Receivable Corporation Has Been Rated #1 Among Factoring Companies

American Receivable has been working with small business owners helping them manage continuous growth through cash flow solutions.

Jack Stieber, President of American Receivable says they attribute their success to their clients, their exceptional working partnerships within the financial industry, and an incredible tenured and dedicated management team providing exceptional customer service.

“We work with each client to find cash flow solutions specific to their business needs because not all businesses or industries are alike.” Jack Stieber

American Receivable helps start-ups and established growing companies meet their goals by providing working capital essential to business operations. A business sometimes overlooks their greatest asset for working capital: revenue. American Receivable provides a way for small business owners to fund their business and keep cash flow positive without incurring debt through invoice factoring.

That’s not all…

Taking advantage of invoice factoring is simple and easy – the process is made up of only 5 steps.

American Receivable's simple and easy five step process for invoice factoring
  1. You – the business owner will supply your customers with a product or service and then you invoice your customer directly.
  2. You send a copy of the open invoices to the factoring company for purchase.
  3. Upon verification of the invoices, the factoring company funds a percentage, usually 85-95% directly to you. Funding is within 24 hours in most cases.
  4. Your customers send payments for the invoices directly to the factoring company on your behalf.
  5. Once invoices are paid, the balance of the invoiced amount, less previously agreed upon fees, will be sent to you.

What you need to know:

Here are some things to consider when looking for a reputable invoice factoring company:

  1. Length of time the company has been in business.
  2. Are long-term contracts required or can I factor short-term?
  3. Are there up-front fees?
  4. What other services are offered if I factor with you?
  5. Are there extra fees for these other services?
  6. Do I have control over which invoices I sell to you?
  7. What is your fee structure?
  8. If you are a new business ask if they fund start-ups?
  9. Are you familiar with my industry?
  10. What is the application process and what is required?
  11. How long will it take to get approved?
  12. If my application is approved, how soon can I sell my invoices and be funded?

The best part…

…the glorious perks of doing business with a #1, nationally rated factoring company for the 5th consecutive year!

American Receivable has been rated number one by business.com

Factoring invoices close the funding gap caused by slow-paying customers because invoice factoring yields instant working capital!

Invoice factoring is a great alternative for a business owner who might not otherwise be able to acquire capital from traditional sources due to weak personal credit, lack of collateral, or length of time in business. Invoices for delivered products or completed work can be one of the greatest assets for a business. Invoices represent revenue for the company.  Invoice factoring is an option to fund your business through the revenues of the business, therefore, not incurring additional debt for the business.  Receiving the major percentage of the invoices up front, allows the business owner to operate with a positive and consistent cash flow, which is crucial for any business to operate smoothly and manage growth. American Receivable monitors the receivables and collections they purchase from a business. Assisting with collecting past due funds gives the business owner the ability to focus on managing and promoting the business.

Many business owners are unaware of the value of their unpaid invoices. Slow-paying customers can hold a business back.  Factoring those valuable invoices is the answer to keeping cash flowing and not adding more debt for the company.

About American Receivable: Since 1979, American Receivable has provided small businesses with the financial resources they need to grow, increase inventory, make payroll on time and effectively compete in the marketplace. Operated and managed by the original Managing Partners, American Receivable earned the respect of the financial industry for their personal attention to their clients. They offer exceptional client services and have a very knowledgeable and tenured management team. Don’t wait, get started today – click here to send us an email! 

09 Apr
Do You Have the Traits of Successful Small Business Owners?

Top 20 Traits of Successful Small Business Owners

Do you have what it takes to start a successful small business? Financing is a vital part of starting a small business, however,  there are many other factors to consider. Here are some of the most common traits of entrepreneurs who have been successful as small business owners.

  1. Driven: A suBusiness Factoringccessful small business owner has the tenacity and motivation to go into business and give 100 percent to build and grow the business. They are  driven to find the to find funding for the business by finding investors, loans and looking all options, including  non-traditional small business financing.

 

  1. Goal oriented: A successful small business owner keeps his eyes on the end goal. They have a vision for the company and the future. This refers not only to growing the business, but also continuing to find financing when more money is needed for the growth of their business. The small business owner is open to non-traditional small business financing such as factoring, as another option to reaching important long and short-term goals.

 

  1. Confident: Successful small business owners are self-assured, earn respect and trust, and take confident command of a situation.

 

  1. Passionate: Successful small business owners are passionate about their business. Striving for success keeps a small business owner motivated, present and engaged in their business.

 

  1. Budget minded: A small business owner is dedicated to keeping costs down and spending money wisely and conservatively. A successful business owner investigates options for loans, business credit cards, and other types of financing such as invoice factoring and other non-traditional small business financing.

 

  1. Self-Reliant and Decisive: Successful small business owners are able think and act independently of others. They are confident in making large and small decisions for the business.

 

  1. Humble: A successful small business owner will always remember the people who helped them along the way. They are open to constructive criticism and ideas from others. They are appreciative of help from others, be it operational advice, financing, or a combination of the two, such as obtaining non-traditional small business financing

 

  1. Resilient: Successful small business owners are able to overcome set-backs. They identify the problem and do what is necessary to find a solution.

 

  1. Focused: Successful small business owners able to focus on the task at hand. They have the focus and discipline to get the job done.

 

  1. Open-Minded: Successful small business owners are open to new ideas. They will look at all options for the right solution. They are open-minded about different types of financing. They will find the best option in traditional loans and credit, or seek out non-traditional small business financing like invoice factoring.

 

  1. Proactive: Successful small business owners are always looking for new opportunities to grow and improve their business. Proactive small business owners solve problems before they even happen, such as improving cash flow and profitability using non-traditional small business financing.

 

  1. Collaborative: Successful small business owners work with others, effectively delegate, and build strong relationships that enhance their business and success.

 

  1. Technically Aware: Successful small business owners find the right technology solutions for their specific business. They know that the right software is crucial for their business to run smoothly and best serve their clients.

 

  1. Energetic: Successful small business owners have the energy to manage long hours and take on a lot of responsibility. They know that a business is a full-time, long-term commitment.

 

  1. Risk-Takers: One trait all successful small business owners have in common is that they are not afraid to take a risk.

 

  1. Accountable: A Successful small business owner takes responsibility for both the accomplishments and failures.

 

  1. Trustworthy: A successful small business owner builds trust and trustworthy relationships. When signing contracts or obtaining a loan or non-traditional small business financing, it is important that others be able to trust you.

 

  1. Forward Thinking: Successful small business owners take creative ideas and make them a reality.

 

  1. Flexible: Successful small business owners are immune to setbacks and will regroup and find solutions for meeting their goals. For example, if traditional loans are not a current option, they will be flexible and look into non-traditional small business financing

 

  1. Hard Working: A successful small business owner works until the job is done, and then works some more. They invest time, energy and money into their business, and do everything necessary to be successful and profitable. When they need better cash flow, they will search for financing, and seek out non-traditional small business financing, such as invoice factoring when traditional financing is not the best option,

 

If you identify with a lot of these character traits, chances are you have what it takes to be a successful small business owner. Never underestimate the power of determination, hard work, and getting some non-traditional small business financing help when you need it.

American Receivable has been helping small business owners with non-traditional small business financing for 40 years. Through invoicing factoring, American Receivable is able to assist small business owners by improving cash flow, thus providing the financial resources needed to grow, increase inventory, make payroll on time and effectively compete in the marketplace. Call American Receivable today at 1-800-297-6652, complete an application for factoring online, or visit our click here to learn more about how the best invoice factoring company can help your small business.

02 Apr
America Receivable Business Value, Cash Flow,
Avoid Diminishing Your Business Value with These 10 Tips

You may have no intention of selling your small business now. However, you have to accept that your small business will change hands one day. You might pass it down to the next generation, sell it, or, unfortunately you may need to close it down. Even if a change in ownership won’t happen until well into the future, it is always a good idea to plan for an inevitable transition and benefit your business value in the present. You may not plan on selling your business anytime soon, however, following these tips now will keep you from diminishing your business value when you are ready to make a change.

    1. Make sure that someone else knows how to do your job. It is important that your business has the capability to succeed in your absence. Train your team members to handle operations. Prospective buyers will have more interest in a business that continues to thrive and maintain its business value  Share your techniques for maintaining cash flow.  Invoice factoring is a great way to keep cash flow positive.
    2. Develop procedures for all of your business’s operations. Having a go-to guide or manual will establish consistency and accuracy for all of the tasks managed in your small business will add business value to you currently, and to any future buyers.
    3. Give your employees job security. Employee retention will help your cash flow. The process of hiring and training is time-consuming and can be costly. When you are ready to sell, retaining seasoned employees will appeal to buyers and add to your business value.
    4. Keep accurate and up to date financial records, and a financial reporting process. Having a clear picture of your cash flow, revenues, profits, and costs will help you see where improvements can be made to increase your business value. When you are looking to sell, prospective buyers will want to see organized and accurate financial statements and tax returns.
    5. Do not neglect accounts receivables. Your small business will have a diminished business value if you have a large amount of uncollected accounts receivable. This will hurt your cash flow and your bottom line. If you have challenges with past due receivables and need to improve your cash flow consider invoice factoring from American Receivable. Prospective buyers will want to see a solid procedure for collecting from customers.
    6. Diversification guards against changing tastes and economic recessions. You may be making great profits on your current products or services, but diversifying will help improve your cash flow and business value by putting less dependence on just one or two primary products and/or services your company offers. Also, consider diversifying your client base. If you depend on just a few large clients, your business value—and cash flow—will greatly reduce if you lose just one of them.
    7. Strive to increase cash flow each year. Consider invoice factoring and other non-traditional small business financing to improve your cash flow. Your business value will rise if your cash flow trends upward each year instead of remaining level.
    8. Define your competitive advantage. Why are you better than your competitors? Figure out your competitive advantage, and promote it. Having a competitive advantage will increase your small business value to potential buyers.
    9. Have a clear growth plan, including how to finance the growth. Project the cash flow needed to cover the costs of growth. Educated yourself business financing, such as business loans, and non-traditional financing, such as invoice factoring. Having a plan already in place will add to your business value.
    10. Try to remove the emotion. You undoubtedly worked hard to make your business successful. It may be hard to let go.  Keep the emotion out of it.  Prospective buyers are only interested in the value of the business in the future.

Whether you are selling a business now, or not for many years, it is important to consider your business value in the daily operations of your small business. When you do plan to sell, you will get top dollar for your hard work and dedication. Plus, circumstances may change at any time, and you may not have time to plan ahead for a needed sale. However, if you follow these tips and avoid diminishing your business value, you will be attractive to buyers at any time.

Help the business value and growth of your small business by increasing your cash flow with invoice factoring. American Receivable has been providing small businesses with financial resources for almost 40 years. With no up-front fees, hidden costs, nor long-term contracts, American Receivable is the national #1 leader in factoring.  Call for a FREE Quote Today: 1-800-297-6652 or complete an application for factoring online.

27 Mar
American Receivables - Financing vs Funding
Financing vs Funding for Small Business

Financing a business can be a challenge.  The old tradition of walking into the bank to get a loan has become more complicated.  You can no longer get a loan on a handshake.  As a small business owner, you may find that you do not qualify for a bank loan.  Banks require good credit and personal guarantees, which put you at risk if your business fails.   Banks usually require a proven track record of up to 3 years or more.   These criteria are impossible to meet when starting a new business.   This can be discouraging, because financing is crucial to any business.

Cash flow is the life blood to a business.  Operating expenses such as payroll, rent, office equipment, inventory, marketing, and the list can go on, require a business to have cash on hand to cover these expenses.  How you finance your business and the cost of the financing affects your bottom line and your ability to grow your business.

Family and friends are one source for getting cash and are a popular strategy for start-ups. You should present them with a strong business plan in place, as well as some incentive for them to take the risk.    Consider if it will be a loan, or if you will offer equity in the company.  It is also important to provide solid projections to indicate when they might get their investment back. However, if you run into problems with cash flow, or needing more capital, you may have to find new options.  The downside is that however you work it out, if the business fails, you may lose or damage the relationships.

Using a business credit card to finance your business can be helpful in emergency situations when you need cash, but using it for full time capital can be dangerous.  The interest rates are usually very high and if you only make minimum payments you will never be out of debt.   Falling behind on a credit card payment will put the business further behind and will damage the credit score of the owner. You can use it in temporary situations when your cash flow is problematic, but it will still be costly.

These are just a few of the options available in today’s market.  As a business owner, consider “funding” your business rather than financing your business.     Factoring or invoice factoring, has become more popular over the decades.  This method of funding allows you to use your receivables to fund your business and better manage cash flow.   Factoring is not a loan.  You, the business owner, sell your receivables (invoices) to the factoring company.  They in turn, give you a percentage usually within 24 hours and they wait for your customers to pay.  This is especially helpful with slow-paying customers. The factoring company waits for the payment and then returns the balance to you, less fees previously agreed upon.  Selling your invoices for cash, allows you to keep a positive cash flow for the needs of your business. Not all factoring companies are the same, do your homework. There are good companies in the marketplace, however some require long-term contracts and may require you to sell them all of your receivables.

American Receivable has been helping small business owners with funding and cash flow for 40 years. We work individually with each business owner to find the right solutions for their specific industry and needs.  American Receivable is ranked #1 Nationally among factoring companies by multiple ranking agencies.  We pride ourselves on excellent customer service, tenured and experienced account managers, and value our clients as our greatest assets.  We are owned and managed by the original managing partners.  Call American Receivable today and find out how we can benefit your business and save you time to manage and grow your business without the worry of cash flow and funding.

 

Factoring is not the same as invoice discounting (which is called an assignment of accounts receivable in American accounting – as propagated by FASB within GAAP).[8][1] Factoring is the sale of receivables, whereas invoice discounting (“assignment of accounts receivable” in American accounting) is a borrowing that involves the use of the accounts receivable assets as collateral for the loan.[1] However, in some other markets, such as the UK, invoice discounting is considered to be a form of factoring, involving the “assignment of receivables”, that is included in official factoring statistics.[9] It is therefore also not considered to be borrowing in the UK. In the UK the arrangement is usually confidential in that the debtor is not notified of the assignment of the receivable and the seller of the receivable collects the debt on behalf of the factor. In the UK, the main difference between factoring and invoice discounting is confidentiality.[10] Scottish law differs from that of the rest of the UK, in that notification to the account debtor is required for the assignment to take place. The Scottish Law Commission is[when?]reviewing this position and seeks to propose reform by the end of 2017.[11]

19 Mar
Use Your Business Corporate Culture to Improve Employee Retention

Group of business partners explaining ideas at meeting in office

Use Your Business Corporate Culture to Improve Employee Retention

In today’s business world, it can be challenging to attract talented and qualified employees. Even more difficult is employee retention: keeping team members happy, productive and engaged. When employees are not happy with the company work environment, and other jobs are available, they are likely to leave for greener pastures. Losing employees costs a small business time and affects cash flow, so finding ways to retain qualified workers is preferable to turnover. This article discusses how a positive corporate culture can help a small business retain employees and keep the team motivated.

What is Corporate Culture?

Corporate culture encapsulates the rules, values and behaviors that outline how employees behave and are expected to act in a workplace. For example, is the culture in your company to work overtime every day or have a work-life balance? How do managers approach conflict and disputes? Do employees work independently or collaboratively? Are upper-level employees approachable by all? Do you offer fair benefits or any extra perks? What is the expected attire? Does your business have employee retention programs in place?

Positive Corporate Culture = Employee Retention

Positive corporate cultures are sought after by talent. You will likely achieve higher employee retention if your business reflects the workplace values of your employees. It is important that the behaviors, rules and values on paper are reflected in actual practice. If you say that your culture is to encourage creativity through down time and respite, but then you don’t approve any requested vacation time, you are sending the wrong message and can alienate employees. It is best to lead by example and display the values and behaviors you want to be reflected as part of your culture.

A positive corporate culture will have employees feeling that they are an asset to the company. They will feel respected, cared about, and an important part of the team. The office atmosphere will be energized and encouraging. Happier employees will work harder and tend to be more productive, which is always good for the growth, profits and cash flow of a business.

Negative Corporate Culture = Losing Employees

If your small business has a negative corporate culture, you risk losing talented workers who want to seek greater job satisfaction, ultimately hurting your bottom line and cash flow. If you are losing a lot of employees, or you see that employees are not working well together, it is an indication that your corporate culture needs some reviewing. What behaviors do you want to see and how can they be achieved? For example, does management dictate a “yes, sir/yes, ma’am” attitude or do you want team members to be able to voice opinions and concerns? Be honest with your corporate culture’s faults and brainstorm ways to improve morale.

Employee retention starts even before the hiring process. How is your company thought of in the industry? Does your business’s reputation reflect having a positive corporate culture or do you have bad press?  Are your company values conveyed to the public accurately? Do you have a lot of negative or questionable reviews? In other words, are highly-qualified employees going to apply for open positions considering your reputation?

During the hiring process, it is important to make sure candidates will fit in with your corporate culture and be productive and satisfied once they encounter the day to day routines and behaviors. Ask pointed questions during the interview and make sure you have a match. This will save having to go through the hiring process again later, which will cost your company money and reduce its cash flow.

Job Satisfaction Improves Bottom Line

In today’s society, employees are putting value on quality of life in both personal lifestyle and in the workplace. A high salary is no longer the greatest incentive when choosing an employer. Employees are looking for companies that share their values, one that will bring job satisfaction, and offer a corporate culture that makes the workday something to look forward to. While most small businesses with smaller cash flow can’t afford catered lunches and weekly massages, there are still a lot of ways your company culture can be a positive one. This will keep your employees happy and productive, and keep you happy by helping your bottom line. Here are a few ideas:

20 Low-Cost Employee Retention Tactics to Try

  1. Give each employee positive feedback on an ongoing basis
  2. Offer a relaxed dress code and special dress-up theme days
  3. Provide continual training for workers, allowing them the opportunity to grow
  4. Determine which employees are looking for more to do, and give them added responsibility periodically
  5. Give your staff extra creative time to brainstorm ideas or work on side projects that interest them
  6. Express your appreciation regularly, even for the little things
  7. Get to know employees better and schedule one-on-one time with them
  8. Have open-ended conversations with employees, welcoming them to discuss what’s on their mind
  9. Evaluate how your work schedule promotes work-life balance
  10. Avoid or minimize sudden changes in the workplace
  11. Arrange for team lunches, dinners and/or social outings
  12. Ask your employees to offer feedback on important projects
  13. Keep the workplace organized, uncluttered, and low-risk from danger or accidents
  14. Empower employees by providing tools to complete their work faster or more effectively
  15. Allow employees to decorate their own work spaces and/or have an office decorating contest
  16. Provide adequate and regular rest periods throughout the day for your employees
  17. Create a comfortable relaxation zone or separate room where staff can re-energize
  18. Arrange for employee discounts at related entities
  19. Offer telecommuting “work from home” day options
  20. Encourage your team to thank one another and/or create a peer-to-peer recognition program

 

American Receivable, with offices in Dallas and Austin, can improve your bottom line and cash flow. We are ranked No. 1 nationally among small-business factoring companies and have a high satisfaction with our long-time staff. We provide small businesses with the financial resources and accounts receivable management strategies they need to improve cash flow, grow, increase inventory, make payroll on time, and effectively compete in the marketplace. American Receivable, helping small businesses since 1979, is the best choice for factoring and accounts receivable management. Call us for a FREE quote today at 1-800-297-6652, or complete the quick quote form below.

13 Mar
American Receivable is celebrating 40 years

We are proud to be rated #1 among factoring companies nationally by multiple rating agencies.

Invoice Factoring Companies

How Does Factoring WorkHow Does Factoring Work

We are proud to be rated #1 among factoring companies nationally by multiple rating agencies.

DALLAS, TX, UNITED STATES, March 13, 2019 /EINPresswire.com/ — American Receivable is celebrating 40 years in the factoringindustry. We are proud to be rated #1 among factoring companies nationally by multiple rating agencies. Since 1979, American Receivable has been working with a diverse group of small business owners helping them manage continuous growth through cash flow solutions. We attribute our continued success to our clients and our exceptional working partnerships within the financial industry. Owned and managed by the original managing partners, American Receivable offers exceptional customer service through a tenured and dedicated accounts management team. We work individually with each client to find the best cash flow solutions for their specific industry and business needs.

American Receivable
American Receivable
+1 800-297-6652
email us here

Invoice Factoring

 

07 Mar
Tax Changes for Business Owners

Tax Changes for Business Owners

The dreaded part of every new year has arrived, and it is called Tax Season! It is not uncommon for business owners, even those with the best record keeping in place, to be recipient of some unexpected surprises when it comes time to send in their taxes.

Tax Reform Legislation was passed in December of 2017. The IRS has published some of the changes that may affect self-employed individuals as well as the bottom line for many small business owners. It is important to be aware of these changes when filing your 2018 business tax returns.

Qualified Business Income Deduction

Owner’s of sole proprietorships, partnerships, trusts and S corporations may deduct 20% of their qualified business income (Section 199A qualified business deduction) for the first time on their 2018 returns.

The deduction applies to qualified:

  • Business Income
  • Real estate investment trust dividends
  • Publicly traded partnership income

For more information on this deduction see REG-107892-18 at www.irs.gov.

Temporary 100% Expensing for Certain Business Assets

Business assets with a recovery period of 20 years or less generally qualify. Some real property such as office equipment, machinery, furniture and appliances may also apply.

Fringe Benefits

Fringe benefits cover a broad spectrum. Some of the benefits affected are:

  • Meals and Entertainment. The deduction for entertainment or recreational expenses has been eliminated. Fifty percent of the cost of business meals may be allowed if the business owner or an employee is in attendance and consulting for current or potential clients, or similar business contacts. Other qualifying criteria may be

 

  • Deductions for transportation fringe benefits has been disallowed, as well as benefits associated with commuting. The exception is made when these benefits are in place as a necessity for safety.

 

  • Bicycle Commuting. Qualified bicycle commuting may be deducted as a business expense for 2018-2025. Employers are now required to include these reimbursements in employee

·         Moving Expenses. Moving expenses reimbursed by an employer to an employee are now taxable. Moving expenses for years prior to 2018 are exempt. Payments made by employers to a moving companies in 2018 for a prior year, are also exempt.

 

  • Employee Awards/gifts. Employee awards considered tangible personal property may be excluded from wages. Some of these may be deducted by the employer, subject to New definition of tangible personal property is not inclusive of cash, gift cards or cash equivalents, event tickets, stocks, meals and other like items.

 

For a complete explanation, specifics and FAQ’s go to www.irs.gov.

Any aspect of the Tax Reform may affect your business. Many business owners experience a cash deficit when they have to put available funds toward taxes. American Receivable is here to help! Business owners can sell their outstanding invoices to American Receivable for immediate funding, eliminating a slow- down in business due to lack of cash. Cash is vital for any business to flourish as expenses such as payroll, rent, and other operational costs have to be met. The ability to obtain cash for invoices allows the business owner to put funds where they feel they are most needed to keep their business on track and growing.

Call American Receivable today and let us help you survive tax season!

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