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29 Apr
How to Manage Time Wisely

How to Manage Time Wisely

Here are some effective tips to help maximize your time and efforts no matter what your role or profession:


Time management means knowing your highest priority. Get a clear picture of what your goals are and focus on them.

Because it’s impossible to always get everything done, focus on the most important items first. Discipline yourself to concentrate on the most important rather than the easiest, the most demanding or the most fun.

Crisis Management

Undoubtedly there are true crises that must be dealt with before anything else and knowing how to correctly identify them is often a challenge.  Being able to properly access, communicate and effectively manage during a crisis will help dictate its outcome.


Everyone has distractions regardless of job title, or responsibility and because of this learning to focus and maximizing creative and analytical periods now becomes more important.  Most people are far more effective when working on one specific task or goal rather than multi-tasking.  Here are some tips to help with focus:

- Limit time checking emails and social media sites

- Use “To Do” lists each day

- Make notes

- Organize your workspace to maximize efficiency


Assign projects or specific tasks to others.  Remember, delegating, although an effective learning tool for others still requires that you keep track and take responsibility for a projects progression.    Keep an eye on deadlines and follow up in time to make sure all is on track to complete the project on schedule.


There will never be enough hours in the day for small business owners and managers to accomplish what needs to be done.   Using these time management tips however, may help ensure you make the most out of the time you do have.


More Tips For Managing Your Time

A ton of people in our general public attempt to be hyper-gainful.

You know — the general population who hasten from undertaking to task, continually checking email, arranging something, making a call, running an errand, and so on.

The general population who do this frequently buy in to the possibility that "remaining occupied" signifies you're buckling down and will be progressively effective.

While this conviction might be consistent with a degree, it regularly prompts careless "efficiency" — a steady need to accomplish something and a propensity to sit around idly on modest assignments.

Rather than carrying on thusly, I do things another way.

Working Smarter, Not Harder

The familiar proverb, "work more efficiently" has turned into a staple in the manner I go about work of any sort.

Rather than being mechanical by they way I approach undertakings, I attempt to be mindful and consistently inquire as to whether something should be possible all the more effectively or dispensed with out and out.

Dealing with my time isn't tied in with crushing whatever number assignments into my day as could reasonably be expected. It's tied in with rearranging how I work, doing things quicker, and assuaging pressure.

It's tied in with gathering up space in my life to set aside a few minutes for individuals, play, and rest.

I guarantee you — there truly are sufficient hours in multi day for all that you'd like to do, however it might take a touch of revising and rethinking to discover them.

21 Time Management Tips

I accumulated this rundown of 21 hints to ideally bump you the correct way.

Keep in mind: There are countless hacks and traps to deal with your time adequately. These are a few hints that I find accommodating, however everybody is extraordinary.

Give this rundown a chance to be an impetus to make you contemplate how to refine your own practices.

1. Complete most significant errands first.

This is the brilliant guideline of time the board. Every day, recognize the a few undertakings that are the most significant to finish, and do those first.

When you're set, the day has been a triumph. You can proceed onward to different things, or you can give them a chance to hold up until tomorrow. You've completed the basic.

2. Figure out how to state "no".

Making a great deal of time duties can show us how to juggle different commitment and deal with our time. This can be an incredible thing.

Be that as it may, you can without much of a stretch take it excessively far. Sooner or later, you have to figure out how to decrease openings. Your target ought to be to take on just those duties that you realize you possess energy for and that you genuinely care about.

3. Rest in any event 7-8 hours.

A few people think yielding rest is a decent method to hack efficiency and wring a couple additional hours out of the day. This isn't the situation.

A great many people need 7-8 hours of rest for their bodies and brains to work ideally. You know whether you're getting enough. Tune in to your body, and don't think little of the estimation of rest.

4. Give your whole concentration to the main job.

Close out all other program windows. Put your telephone away, far out and on quiet. Locate a calm work environment, or hear some out music if that causes you (I appreciate tuning in to old style or encompassing music while composing here and there).

Focus on this one errand. Nothing else should exist. Drench yourself in it.

5. Get an encouraging start.

Almost we all are tormented by the drive to tarry. It appears to be so natural, and you generally figure out how to complete it in the long run, so why not?

Take it from a recouping perpetual slacker — it's so a lot more pleasant and less upsetting to get a prior begin on something. It isn't that troublesome either, in the event that you simply choose solidly to do it.

6. Try not to enable insignificant subtleties to drag you down.

We frequently enable activities to take a whole lot longer than they could by getting too hung up on little subtleties. I'm liable of this. I've generally been a fussbudget.

What I've found, however, is that it is conceivable to push past the longing to always look at what I've done as such far. I'm vastly improved off squeezing forward, getting the mass finished, and changing things a while later.

7. Transform key undertakings into propensities.

Composing is a standard assignment for me. I need to compose constantly — for school, work, my understudy association, my blog, and so forth. I most likely compose 5,000 – 7,000 words for every week.

The measure of composing I do may appear to be a great deal to the vast majority, however it's truly sensible for me, since it's constant. I've made it a point to compose something consistently for quite a while.

I seldom break this daily practice. Along these lines, my psyche is in the propensity for taking the necessary steps of composing. It has turned out to be very normal and agreeable. Might you be able to accomplish something comparative? (Peruse "The Simple, Powerful Guide to Forming Any New Habit")

8. Be principled of measure of TV/Internet/gaming time.

Time spent perusing Twitter or gaming or sitting in front of the TV and films can be perhaps the greatest channel on profitability.

I propose ending up progressively mindful of how much time you spend on these exercises. Just by seeing how they're sucking up your time you'll start to do them less.

9. Outline a period limit in which to finish task.

Rather than simply plunking down to chip away at a task and supposing, "I will be here until this is done," have a go at supposing, "I'm getting down to business on this for three hours".

The time requirement will push you to center and be increasingly proficient, regardless of whether you wind up returning and include more later.

10. Leave a cradle time between errands.

When we surge from errand to task, it's hard to acknowledge what we're doing and to remain engaged and roused.

Permitting ourselves down-time between errands can be a much needed refresher for our cerebrums. While taking a break, take a short walk, ponder, or play out some other personality clearing exercise.

11. Try not to think about the totality of your daily agenda.

Perhaps the quickest approaches to overpower yourself is to consider your huge daily agenda. Understand that no measure of idea will make it any shorter.

As of right now, everything you can do is center around the one assignment before you. This one, single, lone undertaking. Slowly and carefully. Relax.

12. Exercise and eat strongly.

Various investigations have connected a solid way of life with work profitability. Like getting enough rest, practicing and eating soundly support vitality levels, clear your brain, and enable you to concentrate all the more effectively.

13. Do less.

This is a strategy prescribed by one of my preferred bloggers, Leo Babauta. Essentially, do less is another method for saying do the things that truly matter.

Back off, see what should be done, and focus on those things. Do less things that make more worth, as opposed to more things that are for the most part unfilled.

14. Use ends of the week, only a smidgen.

One of my preferred images delineates a respectable man throwing his work away, proclaiming, "It's Friday! Forget this." The accompanying picture peruses "Monday", and the man is stooping to get the papers he'd hurled to the ground.

This is humorous, yet I've discovered that it's astonishing how doing only a smidgen on ends of the week can truly decrease the outstanding task at hand during the week. Go for 2-4 hours out of every day. Despite everything you'll leave yourself a lot of available time for exercises.

15. Make sorting out frameworks.

Being composed spares huge amounts of time, and you don't need to be the most ultra-sorted out individual on the planet either. Frameworks aren't muddled to execute.

Make a recording framework for reports. Ensure all things have a spot to be put away in your residence. Withdraw from email records in the event that you would prefer not to get their substance. Streamline, streamline, streamline.

16. Work on something during holding up time.

We will in general have a great deal of down-time where we don't attempt to do much. Sitting areas, lines at the store, time on the metro, on the curved at the rec center, and so forth.

Discover activities during this time. I will in general have a great deal of perusing for classes, so I bring some of it wherever I proceed to peruse during holding up time.

17. Lock yourself in.

No diversions, no reasons. Once in a while, the main way I will complete something is in case I'm safely secured, alone in a room. In case you're similar to me, understand it, and act in like manner.

18. Focus on your arrangement to accomplish something.

I sort of referenced this as of now, yet it merits rehashing. Try not to drop without anyone else plan to accomplish something!

Be unfaltering. Be submitted. Be proficient about it, and finish. A firm will to achieve what you choose to achieve will take you anyplace.

19. Clump related undertakings together.

Suppose that over a given end of the week you have to complete two programming assignments, compose three papers, and make two recordings. As opposed to moving toward this work in whatever request you feel, bunch the like assignments and do them sequentially.

Various assignments request various sorts of reasoning, so it bodes well to enable your brain to keep on streaming with its present zone as opposed to exchanging pointlessly to something that will expect you to re-arrange.

20. Discover time for stillness.

In our go, go, go world, such a large number of individuals don't discover time to simply stay composed. However, it's uncommon what a stillness practice can do. Activity and inaction should both assume key jobs in our lives.

Finding time in your life for quiet and non-movement diminishes uneasiness and demonstrates to you that there is no compelling reason to always surge. It additionally makes it simpler to discover your work pleasurable.

21. Wipe out the unimportant.

I realize this one has been referenced in some limit as of now, yet it's one of the most valuable tips you can detract from this post.

Our lives are brimming with overabundance. When we can recognize that abundance and expel it, we become increasingly more in contact with what is huge and what merits our time.

One final Tip (The Best One)

There's one last tip I need to make reference to. On the off chance that you recollect one thing from this post, recall this:

Happiness ought to consistently be the objective. Work can be play.

22 Apr
5 Important Tips for Small Business

5 Important Tips for Small Business

Starting your own business can be exciting but sometimes tricky when it comes to balancing your daily life with your business obligations. You may have the enthusiasm needed to be successful, but you also need to have the right procedures and people in place to avoid costly mistakes.

Always market yourself…

Starting out, you continually promote yourself and your business to get as much business as possible and it's easy to rest on your laurels when business is good. Continually market your business so there are no highs and lows.

Know your worth…

Knowing what you’re worth is tricky for small business and it’s important to get it right. If you under-value your goods and services it may be harder for customers to pay a higher price later on.  Check out the competition in your industry and use it as a guide.

Know your financial position…

Money and financial concerns are part of small business.  Cash flow, payment obligations and knowing the basic financial responsibilities are fundamental in running a business. Business owners should always be keenly aware of the company's financial condition so as to avoid difficulties later.

Plan ahead…

A solid business plan is vital for the success of any small businesses.  These plans should be reviewed and updated periodically to document changes in the overall business and to plot the strategy for the business.

Hire good people…

Business owners are tempted to wear many hats to reduce costs but in the long run this can be damaging. Hire a trusted team of individuals to help manage the  daily responsibilities. Hiring the right people can help you avoid future burnout and even business failure.


Here Are Some Additional Business Tips:

1. Manufacture a Support Network

For Laura Kelly, being an entrepreneur can be a detaching background on occasion. "Particularly in case you're an independent entrepreneur, you can put some distance between different entrepreneurs," says Kelly, who 15 years back began The Handwork Studio, a Narberth, Pennsylvania-based organization that runs embroidery camps and classes for children in 10 states along the East Coast.

The urgent answer for Kelly has been to remain arranged in the bigger business network. That implies meeting with her private issue mentor for an hour at regular intervals. The mentor has pushed her discover answers for issues and work through extreme choices with her business. She additionally arranges on Facebook and Linkedin from the solace of her own home.

"She strolled me through some representation works out," Kelly reviews. "Simply that sheer exercise of expelling myself from the business and looking down on it truly helped me see the issues that were troubling me. In an hour's time, I left with lucidity and an activity intend to push ahead.

And after that there's the brains gathering to which Kelly has a place. She and her kindred ladies administration entrepreneurs get together over a gathering line. "We examine issues and arrangements, and we talk each other off the edge."

As a bustling entrepreneur, It's hard to discover time to arrange, yet showing signs of improvement at systems administration and reaching can pay profits later on.

(Download our free eBook: 21 Days to Be a More Productive Small Business Owner)

2. Be Very Specific With Your Goals

Another exercise Kelly has learned throughout the years: break huge objectives into littler ones. "I have 10-year objectives, I have 3-year objectives and 1-year objectives, and I have quarterly objectives for my business," she says. "When it come to incomes, I will break them into littler numbers so they're simpler to get. On the off chance that I realize I have to make two or three hundred thousand in income in the main quarter, I state, 'I don't get that's meaning as far as camp deals? What number of campers do I have to get?' If I realize I need 800 campers to achieve the income objective, at that point it's simpler to make sense of how to accomplish it. These sorts of extremely explicit objectives can drive your activities."

Each worker at The Handwork Studio has a dashboard with their objectives on it which demonstrates their advancement toward those objectives. It helps keep everybody concentrated, Kelly includes: "I can let you know at any accurate minute how much income we have, the traffic of our site and what number of Facebook likes we have."

Building a presentation driven culture all begins with being unmistakable about objectives for yourself and your workers.

3. Agent Whenever Possible

At the point when the Marks Group, an innovation consultancy, began in 1994, it was simply Gene Marks and his father. "He was doing deals and I was doing support," Marks reviews. At that point his father kicked the bucket. "When he passed away, I took it over and acknowledged I couldn't do everything, and enlisted some new representatives. I've discovered that you can get significantly more cash-flow when you have other individuals doing it for you."

As he procured more individuals, it unfolded on Marks that he had been doing work that he was quite awful at doing. The income of the business took off as he expedited new individuals since he was enlisting individuals who were superior to him at specific employments. "I simply kind of educated the most difficult way possible: center around what you excel at, and delegate the rest."

4. Minimize Your Overhead

Eight years prior, it unfolded on Marks that he was simply sitting in an office costing almost $30,000 every year in lease, while his representatives were out working with customers. So Marks disposed of the workplace in rural Philadelphia and made his workforce virtual. En route, he supplanted the landline with an Internet-based telephone that cost about $10 every month, and he discarded PC servers for the cloud, as well.

Bringing down the overhead presented to Marks some genuine feelings of serenity through the Great Recession. "At the point when things turn awful, you don't need to freeze, since you can take a cut in income," Marks says. "Indeed, even in the brunt of the retreat, we never lost cash. Chopping down overhead truly gives you that significant serenity. On the off chance that your overhead is low, you can settle on evaluating choices that you generally wouldn't most likely make."

5. Locate Your Best Niche—and Stick With It

Attempting to do an excessive amount of too early? Have an inclination that you should be everything to all customers? Perhaps differentiating isn't generally the best system. Once in a while, it's great to reproduce the enchantment on the off chance that you have something that works truly well. That has been the fruitful procedure for Ace Apparel, says Marc Mathios, who alongside his two siblings are the third era to run the 78-year-old privately-run company.

"One of the business storehouses that we're great in is parking structure administrators," Mathios says. "The reason that parking structure administrators like to work with us is on the grounds that we fabricate our own line of coat that is appropriate for parking structure organizations. … We've copied that accomplishment with 30 distinctive parking structure administrators crosswise over North America."

Finding your specialty and persistently enhancing around that specialty is a way to progress.

6. Keep Your Day Job Just a Little Longer

It is a typical snare: An individual gets energized by an independent venture thought, stops his or her normal everyday employment—and after that comes up short on cash and fizzles.

Spanx author Sara Blakely attributes her prosperity to the way that she really kept her normal everyday employment as an office gear salesman for a long time, figuring out how to work with insignificant rest as she got her perfectly sized shapewear organization off the ground. Blakely did not have any desire to leave from her normal everyday employment until she was certain beyond a shadow of a doubt her private company thought would work, as indicated by Forbes.

When Blakely surrendered in 2000 based on what was then office hardware provider Danka, she had effectively spent endless evenings and ends of the week contemplating pantyhose structure and existing licenses. She would drive from her Atlanta home to North Carolina, where she searched out hosiery plants willing to make the item.

"There were days that I'd be at Danka throughout the day and the semi trucks would drop boxes of Spanx outside my condo. … I surrendered on October 14, 2000. I quit Danka and more than about fourteen days after the fact I was on the Oprah Winfrey Show," Blakely says.

7. Maintain a strategic distance from Distractions no matter what

A couple of years prior, Seattle-based substance showcasing organization AudienceBloom was working so swimmingly that its originator and CEO Jayson DeMers chose he could pull off concentrating on a second startup that he was fascinated with. DeMers would come to lament the choice.

"Running an organization 'fine and dandy' isn't what a business person's activity is," DeMers says. "Effective business people don't do the base for their organization; they always work to develop it, advance it, and set it up for what's to come. Since I was part my group between the two new companies, development slowed down at my first organization, and I needed more time to commit to the new startup to make it effective."

In the long run, the subsequent endeavor fizzled. AudienceBloom had the option to become again once DeMers had the option to concentrate his complete consideration on it. "I discovered that an effective endeavor requires 100 percent consideration, center, and exertion. Auxiliary endeavors need a full-time supervisor or else they'll simply occupy you and wreck your current endeavors on the off chance that you aren't cautious."

Dodging diversions applies to overseeing yourself so you complete stuff on an everyday premise as well. "I realize when I'm savvy and when I'm imbecilic" says Marks. "I spare the huge undertakings for the morning when I'm most intelligent, and do the repetitive ones when I'm imbecilic by the day's end." Keeping yourself sorted out and on-task is the genuine key to independent venture achievement.

15 Apr
Read this interesting article recently published in the Houston Chronicle….

Important Are Small Businesses to Local Economies?

by J. Mariah Brown, Demand Media                                        

While small businesses may not generate as much money as large corporations, they are a critical component of and major contributor to the strength of local economies. Small businesses present new employment opportunities and serve as the building blocks of the United States’ largest corporations.


A small business is defined as a business (corporation, limited liability company or proprietorship) with 500 employees or less. According to the U.S. Small Business Administration (SBA), small businesses represent 99.7 percent of all employer firms. Since 1995, small businesses have generated 64 percent of new jobs, and paid 44 percent of the total United States private payroll, according to the SBA.

Economic Growth

Small businesses contribute to local economies by bringing growth and innovation to the community in which the business is established. Small businesses also help stimulate economic growth by providing employment opportunities to people who may not be employable by larger corporations. Small businesses tend to attract talent who invent new products or implement new solutions for existing ideas. Larger businesses also often benefit from small businesses within the same local community, as many large corporations depend on small businesses for the completion of various business functions through outsourcing.

Adaptability to Changing Climates

Many small businesses also possess the ability to respond and adapt quickly to changing economic climates. This is due to the fact that small businesses are often very customer-oriented. Many local customers will remain loyal to their favorite small businesses in the midst of an economic crisis. This loyalty means that small businesses are often able to stay afloat during tough times, which can further strengthen local economies. Small businesses also accumulate less revenue than larger corporations, meaning they may have less to lose in times of economic crisis.

Schools and Local Government Offices

When consumers patronize local small businesses, they are essentially giving money back to their local community. A thriving local business will generate high levels of revenue, which means that the business will pay higher taxes, including local taxes. This money is then used for local police and fire departments as well as schools.

08 Apr
10 Tips for Running a Successful Small Business…

10 Tips for Running a Successful Small Business...

1Keep Score: It's amazing how few small businesses have any idea of the daily, weekly, and monthly numbers and financial trends in the organization. Spend time getting to know your business inside and out.

2. Set Realistic Goals: Goal setting is an essential part of business success. Set obtainable goals and when reached set the bar a little higher for the next one.

3. Use Marketing Wisely: It's easy to waste money on ineffective marketing. Learn how to use your marketing dollar and resources to improve your small business.

4. Excel At Your Business Presentations: A powerful business presentation can help improve your small business.  Be relatable but knowledgeable whenever presenting your businesses persona.

5. Monitor Trends in Business: No business operates in a vacuum. Stay current on events and issues that relate to your business.

6. Sharpen Selling Skills: No matter what you’re selling don’t forget to focus on sales improvement.

7. Find  Your Niche: Every industry has its own way of doing things that work best for them. Don’t re-invent the wheel.  If it’s working use it!

8. Motivate Your Staff: Motivated staff members can bring huge improvements in business. Learn what motivates people and capitalize on it.

9. Know Your Limits: Every successful business owner has a  pretty clear idea of their limitations. Knowing your own  business personality can help you manage your resources and find help in areas of weakness.

10. Take a Break: Running a small business is hard work. Sometimes the best way to improve your business and recapture your passion is to take time away from the office.

Consider The Advantages Of Small-Business Ownership


Business people work for themselves. They settle on the choices. They pick whom to work with and what work they will do. They choose what hours to work, just as what to pay and whether to take excursions. For some business people the opportunity to control their fate is sufficient to exceed the potential dangers.

Monetary profit

Enterprise offers a more prominent plausibility of accomplishing noteworthy budgetary prizes than working for another person. Owning your very own business expels the salary limitation that exists in being another person's representative. Numerous business people are propelled by the uber mogul business visionaries we see today, for example, Steve Jobs, Elon Musk, Jeff Bezos, and Mark Zuckerberg.


It empowers one to be engaged with the all-out activity of the business, from idea to structure to creation, from deals to business tasks to client reaction. This capacity to be completely drenched in the business is exceptionally fulfilling to business visionaries who are driven by energy and inventiveness and have a "dream" of what they mean to accomplish. This degree of contribution enables the entrepreneur to really make something of their own.


It offers the status of being the individual in control. A few business visionaries are pulled in to being the supervisor. Furthermore, however, there is the notoriety and pride of proprietorship. When somebody asks, "Who did this?" the business person can reply, "I did."


It offers an individual the chance to manufacture value, which can be kept, sold, or passed on to the people to come. It's normal for business visionaries to claim different organizations for an amazing duration. They set up an organization, run it for some time, and later offer it to another person. The salary from this deal would then be able to be utilized to back the following endeavor. On the off chance that they're not keen on selling the business, the objective might be to fabricate something that can be passed down to their kids to help guarantee their money-related future. One thing is certain: In request to completely receive the money related rewards of a business adventure, you should be the proprietor.


Business enterprise makes an open door for an individual to make a commitment. Most new business visionaries help the neighborhood economy. A couple—through their developments—add to society all in all.

What's more, private companies have certain favorable circumstances over huge organizations. Adaptability, for the most part, lean staffing, and the capacity to grow cozy associations with clients are among the key advantages of private companies. The advanced correspondence transformation has altogether brought down the expense of achieving clients, and this has been an aid to little new businesses and enormous organizations alike.

01 Apr
Got a Gripe About Red Tape? There’s an Ombudsman for That. How the SBA’s point man handles owners’ gripes about red tape

Here’s a great article recently published in the Wall Street Journal…

By:  Rhonda Colvin

Roughly one in 10 small-business owners say government regulation is their biggest challenge. Brian Castro says he feels their pain.

The 41-year-old Washington, D.C., lawyer is currently the U.S. Small Business Administration’s national ombudsman, a little-known post that requires him to act as a liaison between small businesses and federal agencies when it comes to regulations.

When a small business believes an agency has hit it unfairly with a penalty or fine, the business can submit a complaint online at the SBA ombudsman’s website, or send one in by mail.

Mr. Castro’s office will then get in touch with the agency, requesting that it lower, or eliminate, the fine. The ombudsman’s office of seven staffers handled roughly 350 complaints from small-business owners in the 2013 fiscal year ending September 30, up 40% from about 250 in fiscal 2012.

Small businesses with fewer than 20 employees in 2010 paid nearly $10,600 per employee to comply with regulations, roughly 36% more per employee than did large businesses with more than 500 employees did, the latest available data from the SBA shows.

According to a January survey of 603 small business owners by Wells Fargo/Gallup, 11% listed government regulation as a top concern, while another 11% listed the economy. In comparison, 21% said their biggest worry was attracting customers.

One of Mr. Castro’s duties is to keep tabs on how quickly the various agencies respond to complaints as well as the “quality” of their responses.

Consider U.S. Homeland Security, a recent underperformer. Both its U.S. Customs and Border Protection division, as well as its Citizenship and Immigration Services division, received “Fs” because they failed to respond within 120 days to eight total complaints that small businesses made about them during 2012.

“CBP works to answer all inquiries from multiple entities in a timely manner and is coordinating closely with the Office of the National Ombudsman to review and improve the response process,” said a spokesman for the Customs and Border Protection office.

In an interview at his office Tuesday, Mr. Castro provided an insight into the regulatory hassles that small businesses grapple with today:

WSJ: What are small business owners’ top three complaints?

Mr. Castro: The top one has to do with the Centers for Medicare & Medicaid Services audits of durable medical equipment prosthetic and orthopedic suppliers. These firms have contracted with Medicare to provide those products. We have received hundreds of complaints and comments both from individual device providers and from associations representing many, many more.

The issue in a nutshell is an ongoing practice of what are called “recovery audit contractors.” These are third parties, non-governmental, for-profit entities that come in for the purpose of finding ways of fraud and abuse. The impact has been extremely severe for many of these small businesses, to the point of driving them to the verge of going out of business, or out of business altogether. We’re developing some proposals [to address their concerns], working with my counterpart over at CMS.

We also do receive concerns about visas, such as whether a H1-B visa was approved or re-approved or not, or a visa for seasonal help, particularly for agricultural small businesses.

For government contractors, late payments are a very significant worry. Small-business owners understand the liquidity crunch that can come from a slow paying client — and the last thing we want is the federal government to be one of those, particularly during our economic recovery.

WSJ: How do you figure out whether to give an agency an A, B, C or an F?

Mr. Castro: It’s a cut and dry, objective metric, based on the number of days it takes before we get a response. So it could be that there was turnover in the office perhaps, in that office and for whatever reason, the matter did not get addressed. Some agencies have declined to participate in this resolution process. I’m learning more about that, but the legal basis is unclear. One example is the Department of Defense. That agency hasn’t viewed the Small Business Regulatory Enforcement Fairness Act as extending to it.

WSJ: Is your office preparing to address concerns related to the new health-care law?

Mr. Castro: I have not seen any comments filed about the Affordable Care Act regulations yet. Before the ACA, small businesses paid 18%, almost one-fifth more, for health-insurance premiums for their employees than did large businesses. They faced far fewer choices and of course exclusions on pre-exiting conditions. So the small-business owners that I’ve talked to are concerned about getting those issues rectified, and want to have the benefits for their business. They want a workforce that is healthy, happy and productive and reliable. Health care is critical to that.

WSJ: Do you have personal connections to small businesses?

Mr. Castro: When my grandfather immigrated to New York [from Spain], he opened a diner. It was something he undertook so his family could have a better future.


25 Mar
Recourse Factoring Vs. Non Recourse Factoring…. Which is right for you?

Recourse Factoring Vs. Non Recourse Factoring…. Which is right for you?

Businesses that have a recourse factoring agreement are responsible for buying back invoices that are not paid by the account debtor (the company that owes the money) after a specified period of time, usually 60, 90 or even 120 days.  It means even though the factoring company has purchased the invoice and advanced on it, they still have “recourse” at some point.

Most factoring companies provide credit checks through various credit agencies to help minimize the charge-backs (recourse) and to help businesses make good credit decisions.  These credit checks can be done on current accounts or on new accounts they hope to have business with in the future.  Recourse factoring offers the factor the least amount of risk and discount fees are generally lower making it a more affordable option for a business seeking to factor.

For non-recourse agreements, the factor assumes the risk of non-payment by the account debtor, regardless of the reason.  Non-recourse factoring keeps the business from assuming bad debt but is riskier for the factor.  Discount fees are considerably higher than for recourse factoring.  In some cases, if a business has a concentration of invoices with just a few large customers, non-recourse factoring may protect the business from potentially large offsets.

So when deciding on which type of factoring is best for your company, evaluate your customers, your cash flow needs and just what expense your company can afford.

More About Recourse Factoring vs. Non Recourse Factoring...

Calculating advantages your business in two significant ways. To begin with, considering progresses cash on your records receivable and causes you develop income. Furthermore, a figuring organization gathers installment on those receivables from your clients. Having more money available and a factor that handles accumulations gives you additional time and cash to run your organization.

In any case, what occurs if a client does not pay one of your solicitations? That is the place the distinctions in "plan of action" versus "non-response" considering become an integral factor.

Two Ways to Factor

Plan of action calculating, the most well-known sort, implies that your organization must repurchase any solicitations that the factor can't gather installment on. You are in charge of any solicitations your clients don't pay.

With non-plan of action calculating, the factor acknowledges a greater amount of the danger of non-installment by your clients.

In explicit circumstances, illustrated in the non-plan of action understanding, you may not be in charge of unpaid solicitations.

Non-plan of action calculating can sound engaging from a hazard the board point of view. Nonetheless, not all calculating organizations take on non-plan of action accounts. Those that do offer non-plan of action calculating normally incorporate a few stipulations. Non-plan of action calculating is increasingly costly, regularly by as much as a full rate point. For instance, if a factor charges 2% on solicitations financed through plan of action figuring, the expense for non-response calculating would probably be 3%.

Non-plan of action calculating is likewise restricted to solicitations with account holders who are well on the way to pay. In the event that the account holder has a poor FICO assessment and installment history, the factor won't accept the danger of non-installment.

At last, non-plan of action considering does not really shield your organization from all danger of non-installment. Many calculating organizations offer non-response that possibly applies if a borrower opts for non-payment. So if a borrower just shuts its entryways or essentially vanishes without installment, the calculating client should at present repurchase that receipt from the factor.

Getting Terms

Regardless of whether your organization intends to seek after plan of action or non-response considering, it is critical to plunk down with a legitimate figuring organization to talk about their terms. It might be to further your potential benefit to discover a factor that offers both response and non-plan of action figuring. A considering organization with a solid credit group can likewise enable you to abstain from working with clients that have poor installment narratives.

Despite the kind of record, a great factor will consistently attempt to gather on your solicitations. Accumulation calls from the factor to an indebted person should begin 40 days after the receipt was sent and proceed for a little while. Following 90 days, the factor may "plan of action" the receipt back to you. The factor should, in any case, give alternatives to helping you spread the expense. The factor may retain a bit of future loans or deduct money from your hold account. Working out an unpaid receipt ought not cause your organization money related hardship as it isn't in the best enthusiasm for you or your factor.

For more tips on picking the correct factor, read our article, "Significant Questions to Ask a Factoring Company."

The most ideal situation is for your organization to have clients with great credit and strong installment chronicles. This empowers you to pay lower charges for plan of action considering without stressing over the hazard.

Despite the fact that considering financing projects can change, they by and large offer one of two kinds of figuring programs: full plan of action or non-response. This article depicts the contrasts between the two projects.

The rudiments

Most calculating exchanges are organized so the factor buys the receipt from the customer. The buy normally occurs in two portions: the development and the refund. The exchange closes when the customer forks over the required funds, at which time all records are settled. For more data, read "What is figuring?" and "How does considering work?".

In a business deal, the buyer in some cases has the choice to return item that does not meet their quality prerequisites. Variables that buy solicitations frequently have a similar choice to return solicitations that don't meet their prerequisites. Response – regardless of whether full plan of action or non-plan of action – decides whether and when the factor can restore the receipt to the customer and request to be made entirety.

Full plan of action calculating

Full plan of action calculating is the most widely recognized sort of receipt figuring. In full response considering, your organization stays obligated if a receipt isn't paid by a client under any conditions, regardless of whether it be quality issues, monetary issues, or regardless of whether they just would prefer not to pay. On the off chance that a receipt isn't paid, you should either give the calculating organization another receipt, enable them to charge stores, or basically paying them back.

Non-plan of action considering

This sort of considering is less normal and it's typically misconstrued. A non-response considering plan works precisely equivalent to a full response plan, with the exemption that you don't need to pay back the figuring organization if a receipt isn't paid because of a bankruptcy of the client during the calculating time frame.

This exemption is regularly misjudged, the same number of entrepreneurs erroneously expect that non-plan of action figuring disposes of any obligations regarding installment if a client doesn't pay. By and large, this isn't valid.

For the non-plan of action segment to end up viable, the explanation behind the non-installment must be indebtedness — as a rule a pronounced bankruptcy, for example, insolvency or conclusion. What's more, more critically, the indebtedness must happen during that calculating period generally characterized as the initial 90 days (this changes) from the time that the figuring organization purchased the receipt.

As should be obvious, non-plan of action figuring offers an extremely thin security. While it's great assurance, it's not as extensive the same number of individuals think. Since numerous organizations offer their own variant of non-response figuring, consistently look at contracts with an able lawyer to ensure that you see precisely what are you getting.

Which kind of receipt calculating is better?

One basic inquiry is, "Which sort of receipt figuring is better?" This issue is liable to much discussion in the business. Actually every factor spends extensive assets deciding the financial soundness of the solicitations they buy.

You can anticipate that variables should be judicious when acquiring any receipt, so the probability of them purchasing a receipt that will default is normally extremely thin – however it happens. At last, it's up to you as an entrepreneur to decide whether paying a premium for non-plan of action considering is justified, despite all the trouble.

18 Mar
The Importance of Small Business to the Economy….

The Importance of Small Business to the Economy...

A small business is considered to be a company that employs less than 500 people and more often ranges from 50-100.  U.S. small business makes up over half of the country's workforce. While many people think big corporations and industrial giants are what drive the economy, small business is actually the workhorse.

Small business in America has been the stabilizing force in the economy for years. Entrepreneurs are the cornerstone of creativity and production. Small business is what stimulates economic growth and keeps our economy moving. Over 60% of all private sector jobs come from a small business making small business critical to the U.S. economy.

Some interesting facts about small business include:

  • There are 28 million small businesses in the U.S.
  • 70% of small businesses are owned and operated by a single person
  • Small companies hold over ten times more patents in the United States than their larger counterparts
  • 1/3 of small businesses rely on credit for financing
  • 60% - 80% of all new jobs come from small business

The Small Business Association “SBA”, a government agency watches out for small businesses in America by helping them to stay in business. They offer education and training when needed, and assist small business owners with finding alternative funding sources. The SBA tracks data and statistics about various small businesses and reports this information to the United States government.

So the next time you think small business is too small to matter think again….

The Importance of Small Businesses to Local Economies

The significance of private venture to nearby networks is genuinely established in purchasing and selling with companions and neighbors. The significance of little firms in provincial territories and huge urban areas additionally is found in the financial advantages of shopping locally. In certain towns and towns, an independent company is the main sort that can endure while serving a decreased populace. In a major city, independent companies regularly offer a progressively differing stock or represent considerable authority in giving interesting or customized client encounters. Independent ventures likewise present new work openings and fill in as the structure squares of the United States' biggest companies.

Developing Small Businesses in the U.S.

A private venture is characterized as a business (partnership, restricted obligation organization or ownership) with 500 representatives or less. As indicated by the U.S. Independent venture Administration (SBA), private ventures speak to 99.9 percent of all U.S. organizations. Independent ventures made 1.9 million occupations in 2015 with the absolute littlest firms - those with 20 representatives or less - including over portion of the situations with a 1.1 million increment. Starting at 2018, the SBA gauges there are 30.2 million private companies utilizing a sum of 58.9 million specialists.

Utilizing Local Workers

Private ventures add to nearby economies by carrying development and advancement to the network in which the business is set up. Private companies additionally help invigorate financial development by giving business chances to individuals who may not be employable by bigger organizations. Independent companies will in general draw in ability who develop new items or actualize new answers for existing thoughts. Bigger organizations likewise frequently advantage from independent companies inside a similar neighborhood network, the same number of enormous enterprises rely upon private companies for the culmination of different business works through redistributing.

Adjusting to Changing Climates

Numerous independent companies additionally have the capacity to react and adjust rapidly to changing monetary atmospheres. This is because of the way that private ventures are regularly very client arranged and comprehend the necessities of the network. Numerous neighborhood clients stay faithful to their preferred independent ventures amidst a monetary emergency. This dedication implies that private companies are frequently ready to remain above water during intense occasions, which can further fortify neighborhood economies. Private companies additionally aggregate less income than bigger enterprises, which means they may have less to lose in the midst of monetary emergency.

Adding to Local Government with Taxes

At the point when purchasers belittle neighborhood independent companies, they are basically giving cash back to their nearby network. A flourishing nearby business will create abnormal amounts of income, which implies that the business will make good on higher government obligations, including neighborhood property charges. This cash is then utilized for nearby police and local groups of fire-fighters just as schools. A flourishing independent company likewise can improve property estimations all through a network, improving each mortgage holder's primary concern while producing more property charges for nearby governments.

The private venture sway on nearby economy development additionally appears as deals charge accumulation. Neighborhood organizations charge deals duty dependent on their area and can be the foundation of extraordinary tax collection locale concentrated on one of a kind activities, for example, lighting and walkway tasks to improve memorable shopping regions and draw in extra clients.

Growing a Small Business to a Corporation

Private ventures don't generally remain little. Enormous companies, for example, Nike and Ben and Jerry's, began off as private ventures and developed to wind up significant players in the national and universal commercial center. Numerous PC industry pioneers started as "tinkerers," taking a shot nearby amassed machines out of their carports. Microsoft and Amazon are prime instances of how a private venture thought can change the world. Independent ventures that develop into huge organizations frequently stay in the network in which the business was first settled. Having an enormous partnership headquartered in a network can further assistance give work and invigorate the nearby economy, making a market that supports the improvement of extra private ventures.

11 Mar
Factoring… A look back

Factoring... A look back

Ever wonder how or why factoring or accounts receivable financing came to be?  Oddly enough it goes much farther back than you might think.

Factoring dates back to the financing of trade, particularly international  trade.  It is said factoring originated in the far- east  and China,  particularly in the spice trade.  The ancient Romans also used factoring, selling promissory notes at a discount.  Though factoring in its purest form may have been used by these two cultures, it was a not terribly commonly .

Factoring gained popularity around the time of the American Revolution when colonial merchants sent raw materials like cotton, fur and timber to British and European merchants. Because of the great distance across the Atlantic Ocean, waiting for payment from Great Britain and Europe caused delays in processing orders.  As a solution, the merchants paid the colonists in advance in order to have the means to process new orders.  This form of factoring provided cash flow for the colonists and allowed them to ensure that trade was uninterrupted.

As the business world progressed so did factoring.  The focus of factoring shifted to the importance of credit during the Industrial Revolution taking into consideration the customer’s credit worthiness.  Businesses could now use the amounts owed them as instruments of payment based on their credit worthy, established customers.

During the 1930’s factoring grew considerably among the garment and textile industries which relied on raw materials.  Factoring was commonly used to ensure that companies were able to purchase these materials to produce clothing and textiles without delays.

Today, factoring is a respected alternative to traditional financing.  Many businesses large and small sell their accounts receivable to obtain much needed working capital.  Nearly any business with credit worthy customers can take advantage of factoring as a steady source of cash flow for daily operating expenses, to purchase new equipment or growth.

More History on Invoice Factoring


Calculating is the clearance of your records receivable (solicitations) to a subsidizing source at a markdown off the presumptive worth as an end-result of prompt money. The subsidizing source is known as a factor. Perceive How Factoring Works Here

The procedure ordinarily works this way: You convey an item or administration and issue a receipt to your client. Without figuring, you hang tight for 30,60, or 90 days for installment. With calculating, the factor promptly buys the receipt and advances an underlying installment of 70-92 percent of the invoiced sum. Much of the time, you'll have assets in your record inside 24 hours. At the point when your client pays the receipt legitimately to the factor, you'll get the rest of the equalization. As a rule, the rest of the parity is 5 to 30 percent of the receipt sum less the factor's expense.

Figuring Is A Well Established Form Of Business Financing

Figuring is a settled type of business financing. It produces prompt money installments to an organization at the season of shipment, conveyance and invoicing a client. In its essential structure, considering has been utilized by American business since Colonial occasions. Its birthplaces return considerably further, truly a huge number of years to the beginning of trade.

Considering: A Continuous Level Of Cash Flow

Maybe the most alluring part of contemporary figuring is a ceaseless degree of income into a supervisor's hands, permitting business arranging and task in a convenient and proficient way. The figuring framework additionally implies accessible financing which consequently changes with your novel rate of business development, on the grounds that expanded money is activated by new solicitations. Calculating is the main money instrument legitimately connected to an organization's deals.

Considering is utilized more than every single other sort of business financing consolidated. A considerable lot of America's significant organizations are energetic clients of this fund framework and have been for quite a long time. Yet, calculating isn't a selective right of business and modern goliaths. Truth be told, figuring goes to much nearer to you by and by than simply through huge name business whose items you know and use.

American Retail Business Depends On The Factoring System

American customers partake in a typical type of considering each time they utilize a charge card. There are 1.15 billion Visas available for use, 10 each for each American cardholder. In 1970 the normal parity on individual cards was $649, expanding in 1986 to $1,472. Today it is over $2,800. A great many times each day each business that offers clients charge benefits utilizing Mastercards is the immediate recipient of considering. American retail business relies upon the considering framework, and without it, the national economy would be genuinely crippled.

In this natural exchange, the issuing bank or card organization is the factor-utilizing the Visa, MasterCard or other framework propelling the dealer of product or administration money following your buy, well before you really pay. Since the dealer gets money in advance without hanging tight for your installment, his cash isn't tied up in receivables. For the twofold benefit of making credit accessible to clients and getting quick installment, the business is eager to pay a rebate to the issuing bank or charge card organization. The markdown is commonly two to four percent of the price tag. Hence for ever $100 of product you purchase with a charge card, the dealer gets $96 or $98 in quick money.

Calculating Can Benefit Almost Any Industry

Calculating achieves the equivalent for business - or business to business exchanges. When you stretch out credit to a client, you are basically turning into that client's low maintenance investor. For the period credit is stretched out to Customer Smith - 30 or 60 days-you become his loan specialist, and he's your borrower. For the time span credit is broadened you lose the estimation of that tied-up cash since you can just foresee installment. On the off chance that Mr. Smith had paid money, you could have contributed that cash promptly, gaining enthusiasm on it instead of pausing. At the point when Smith pays late, your cost builds even more.

Since there is no "free lunch" in business, somebody needs to pay the expenses of your expansion of credit; it is possible that you pay by discounted benefits, or your different clients are compelled to pay more expensive rates. In a negligible organization, over the top credit expansion and late client receivables can spell fiasco.

04 Mar
Factoring 1…2…3…

Factoring 1…2…3…

Having transitioned into the new year,  2014 will undoubtedly bring many challenges for small business owners.  One of these challenges is finding the right sources of capital to fund their business.  A key to running any business is to always know where you are financially.  All too often company finances go overlooked until too late.  Don’t wait to the last minute to find the right financing tool.

There is an abundance of financing options for small businesses, factoring being one that is making a resurgence.  Factoring companies can vary dramatically in what they offer so make sure to know the facts before you commit.

When looking for a factoring relationship remember the “Who, What and When”.

Who is the best factoring company for my business:

 Look for the number of years a factoring company has been in business.  Factoring companies with more than 10 years in the business generally offer a good program.  Companies with 20 plus years are doing something right and it indicates they likely have a very solid reputation.  Look for a factoring company with a tenured management team and sales force.  Get to know the people you will be working with because it DOES make a difference.  Relationships are key, especially when dealing with what can be stressful financial matters.

What factoring program is right for my business:

 Most factoring companies have similar programs but it’s how they work with the business owner that matters.   Many factoring companies have industry expertise in areas such as trucking, medical and staffing that could be beneficial for the business owner.  When selecting a factoring partner focus on companies familiar with what you do.

When should you work with a factoring company:

 If slow cash flow is preventing you from meeting you obligations on time it may be time to factor.  Most companies experience slow paying customers from time-to-time but if it has become the norm,  factoring could be the answer.  Factoring is usually a short-term resolution for businesses, anywhere from one year to eighteen months.  Most businesses usually become eligible for more traditional financing after they have been a factoring customer.



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