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The goal of any business is to make a profit. However, if your business is making sales but seeing little-to-no profit, you might be leaking cash. There are some financial statements that you would need to consider including your cash flow statement, balance sheet, profit and loss statement. These documents can help you see what areas need attention within your business.
As you look into tools to borrow money to grow your business, you might consider business financing options such as lines of credit, loans, and credit cards. Business loans are straightforward to understand but you might have questions about the difference between a line of credit and a credit card.
There are many aspects of a business that every owner needs to be aware of to run a successful business. From marketing to employee benefits, there is a lot to think about and it is not always easy. Every aspect of a business deserves attention and rapid growth does not happen overnight.
A Trade Reference is a report detailing the payment history between a business customer and its supplier or vendor. Trade references may be supplied verbally, in the form of a trade reference letter, or by reporting payment history to commercial credit reporting agencies such as Dun & Bradstreet, Experian or Equifax.
If you run a small business, there are many financial advantages that come with it. In this post, we will talk about several ways that having a small business saves you money.
Cash flow for a business is important but it does come with plenty of problems. Cash flow problems can happen to any business at any time and when they are not managed properly or addressed, they can be detrimental. According to statistics, over 80 percent of businesses fail do so because of cash flow management problems.
Running a business is no easy task. In fact, many businesses do not make it past the five-year mark. Staying in business request a lot of work and if you want your business to be always making a profit, you need to improve your business efficiency. In this article we discuss four strategies to help make your business more efficient.
Customer loyalty measure how likely existing customers will do repeat business with your company. Each industry has its own way of measuring customer loyalty, the simplest way is reviewing existing customer's lifetime purchases in your database.
If you are having trouble meeting your monthly payment obligations, your best strategy might be to refinance your business loan. A loan refinance is different from loan consolidation in the following ways:
If you are looking for a business loan, be sure to ask about prepayment penalties. A prepayment penalty, also known as a “prepay”, is an agreement between a borrower and a bank or other type of lender that regulates how much of the loan a borrower is allowed to pay off and when.
