Speed Up Your Cashflow
The Small Business Administration cites that over 50% of businesses fail in their first five years. Most of the business owners listed negative cash flow as the number one reason they had to close doors. Negative cash flow can limit your ability to pay bills on time, limits growth opportunities and ultimately forces a business […]
How a Factoring Company Can Help Your Staffing Company Flourish
Many companies are outsourcing a large portion of their hiring to staffing companies. But it can be extremely difficult for a start-up or a fast-growing staffing company to keep ahead of its payroll. Because staffing companies usually pay their employees on a daily or weekly basis, waiting a month or more for customers to pay […]
How to Create a Rainy Day Fund for Your Small Business
As a small business owner, one of the best pieces of advice you’ll ever get is to never get too comfortable when things are running smooth. In the same way traffic accidents occur unexpectedly and natural disasters occur without notice, your business can also suffer painful emergencies. When it does, you need to be in […]
Cash Flow Solutions For Staffing Companies
Staffing company owners know that happiness is positive cash flow. But there are times when entrepreneurs are caught in a cash crunch. The long-term fix is to do a detailed examination of every expense, analyze pricing and investigate raising additional capital. This process will take time but won’t help you meet payroll by Friday. Every […]
Business Strategies for Cash Flow
Strategies to turnaround a struggling business with cash flow problems has many sides. Benefits, payroll and other expenses directly related to the number of people working for a company may be one of the largest expenses. There may be areas where a company can cut cost by eliminating positions that are no longer necessary and […]
How To Deal With Slow Paying Customers
If a business owner offers their customers terms at some point, they will have to deal with a customer who does not pay within the stated terms. Slow paying customers put a strain on the company’s cash flow and can jeopardize future projects. The key to collecting past due invoices is to be pro-active as […]
Lessons Learned
A survey by researchers at Washington University in St. Louis found businesses with a previous lending relationship enjoyed a 57%-point advantage in obtaining a PPP loan, with 75% of “relationship-borrowers” getting a loan compared with only 18% of “non-relationship” companies succeeding in getting a PPP loan. The study further found that a personal connection between […]
Invoice Factoring for Startups
Startups bring us some of our most creative innovations. Being a startup involves a lot of risk, time constraints, staffing demands, and challenges obtaining funding. Invoice factoring can help with funding by speeding up cash flow without the long wait for an invoice to pay. By taking advantage of factoring a startup can ensure they […]
Life After the Paycheck Protection Program
The good news is the government is offering another round of paycheck protection program (PPP) funding for small business. This round is slightly more restrictive as to who can receive it and who qualify for forgiveness. The bad news is that businesses looking for working capital or expansion loans will find their bank totally consumed […]
10 Tips for Running a Small Business
Running a small business in today’s rapidly changing marketplace takes skill, determination, and the ability to adapt to new challenges. Here are 10 tips for any business that wants to succeed. 1. Keep Score: It’s amazing how few small businesses have any idea of the daily, weekly, and monthly numbers and financial trends in the […]
