Showing posts with label money. Show all posts
Showing posts with label money. Show all posts

Wednesday, April 15, 2009

Get Involved: Help SBA Reform Federal Regulations

OK, so the nearly $1 trillion Wall Street rescue is all but assured, but the benefits to small business remain to be seen. In the long run, more credit should become available for entrepreneurs who need funding to start a business or expand an existing one, but for now it's the big players who will lap up the taxpayer-sponsored river of capital.

Even if the plan works perfectly and the federal coffers become flush with cash over the next several years--decades?--how can this be seen as anything other than a catastrophic failure of a system that is supposed to self-regulate as a way to avoid such collapses? OK,so the nearly $1 trillion Wall Street rescue is all but assured, but the benefits to small business remain to be seen. In the long run, more credit should become available for entrepreneurs who need funding to start a business or expand an existing one, but for now it's the big players who will lap up the taxpayer-sponsored river of capital.

Click here to read more...

Online Request for SBDC Counseling



Friday, April 10, 2009

Retail Down But Steady

Retail sales in the United States were down 1.6 percent in March compared to the same period last year, according to data firm Retail Metrics. At least part of the drop was blamed on the Easter holiday shopping season moving to April this year.

Click here to read more...

Online Request for SBDC Counseling




Wednesday, April 8, 2009

Is It Our Business

What a difference a few days can make to the trajectory of a transition. At the end of last week, I was prepared to give our new President an “A” for outstanding efforts to create positive momentum. Now I’m thinking he deserves a B-minus at best. Why the shift? In a word, taxes. Specifically the lack of payment thereof by the President’s cabinet nominees.

Click here to read more...

Online Request for SBDC Counseling




Saturday, April 4, 2009

Want to start a business? 7 ways to follow the money

Every would-be entrepreneur needs to consider these two questions: First, how do you know your business idea is a good one? And, second, if you don't have an idea, but seriously want to start your own business anyway, how do you find the market niche that offers you the best chance for success?

The answer to both questions is as simple as that catchphrase from the Watergate days: Follow the money.

Click here to read more...

Online Request for SBDC Counseling



Thursday, April 2, 2009

10 Ways to Save Money on Credit Card Processing

by

10. Don’t Lease Equipment – Own It Instead
If your budget at all allows it, don’t lease a credit card terminal but buy it instead. Generally, credit card terminals are not expensive to purchase outright. Popular terminals can cost a merchant roughly $350-$550 depending on your needs. To lease a terminal will cost you roughly around $25 per month, which over a three year contract could end up costing you close to $900! Think about it; your company is going to be accepting credit and debit cards for as long as you are in business. In the long run, it is significantly cheaper to purchase a terminal.

Click here to read more...

Online Request for SBDC Counseling




Tuesday, March 31, 2009

Where is Your Money Going?

The American Recovery and Reinvestment Act targets investments towards key areas that will save or create good jobs immediately, while also laying the groundwork for long-term economic growth. The charts and numbers below give you an idea of where the money is going.

Click here to read more...


Online Request for SBDC Counseling





Google Searches for Startups

Google has established a venture capital fund that will be formally unveiled tomorrow, The New York Times reports. The fund could be seeded with as much as $100 million.

Its focus will, as might be expected, include internet ventures, clean technologies and life sciences. The fund will be run by David Drummond, senior vice president of corporate developing and chief legal officer at the web-search giant, the paper reports. "A lot of the things we have done in the energy area [are] the kinds of things you might see from Google Ventures," Drummond said.

Click here to read more...


Online Request for SBDC Counseling





The Basics of Money Management

Getting paid and money management can be tricky business because, in addition to customers, cash flow and managing your accounts properly is what keeps your business humming along. Consequently, getting paid in full and on time, as well as understanding money management, has to become a priority, even if you elect to hire an accountant or bookkeeper to manage the books.

Click here to read more...

Online Request for SBDC Counseling




Emergency biz loans: What qualifies

The SBA's forthcoming loan-relief program can't be used to pay down existing SBA loans -- but past borrowers will still be eligible for help with other debts.

The Small Business Administration is still drawing up guidelines for its forthcoming emergency loans program, a stopgap measure intended to shore up small businesses struggling to keep up with payments on existing debt. But the agency this week confirmed an unexpected twist: Businesses with current loans backed by the SBA won't be able to use the new loans to cover payments on their existing SBA debt.

Click here to read more...

Online Request for SBDC Counseling



Business Owners Optimistic

The stock market has been rebounding, consumer confidence is up and business owners are expressing unusual optimism. The U.S. economy might not be past its rut yet, but Discover Small Business Watch's monthly report indicates that economic confidence among the entrepreneurs it surveys saw its biggest jump in nine months.

Click here to read more...

Online Request for SBDC Counseling




Thursday, March 26, 2009

Cutting Payroll Guidelines

Entrepreneurs everywhere are facing the difficult task of needing to start cutting pay roll. But many of them wonder which ones should be cut, how much should they cut and how can they make these necessary changes without too much damage in the work place. Below are a few guidelines to follow if your faced with the difficult task of cutting your pay roll.

Click here to read more...

Online Request for SBDC Counseling






Wednesday, March 25, 2009

Racketeering Trial Starts For Grocery Entrepreneur

The federal racketeering trial of Los Angeles grocery magnate George Torres is scheduled to begin tomorrow. Federal prosecutors allege the 52-year-old founder of Los Angeles-based Numero Uno stores conspired to kill, bribed a public official, robbed, extorted, committed fraud and laundered drug money as he expanded his grocery empire.

Click here to read more...

Online Request for SBDC Counseling






Thursday, March 19, 2009

Financial Decision Making For Small Business Owners

Some small business owners make the mistake of handing over too much of the financial decision making authority to another person.

While there is nothing wrong with delegating, especially if you are not that good with managing finances, it is always a good idea to keep your hands and head in the books.

There should be no big surprises at the end of the year, because you should know where the money is going throughout the year.

Click here to read more...

Online Request for SBDC Counseling



Wednesday, March 18, 2009

Ways to Fund Your Franchise

The fact is that franchise companies still want to grow; and many individuals are still chasing the American Dream. Both groups realize that the lack of available credit is hampering their ability to make this happen. Solutions exist, but they often require some out-of-the-box thinking and aggressive efforts on everyone’s part.

Click here to read more...

Online Request for SBDC Counseling




Monday, March 16, 2009

Obama Bolsters Entrepreneurial Credit

By: Dennis Romero

In a bid to free credit lines aimed at the entrepreneurial sector, President Obama today said the government would increase its guarantees on loans administered by the Small Business Administration.
The president also stated that 21 of the largest banks receiving federal bailout money under the Troubled Assets Relief Program will have to check in with the government monthly regarding their small-business lending efforts. "Small businesses are one of the biggest drivers of employment we have," Obama said today. "This is going to be a first step" to help entrepreneurs.

Click here to read more...

Online Request for SBDC Counseling



Auto Repair Shops Find Economic Fix

Detroit might be a bust, but auto repair shops are doing just fine, according to small business data tracker BizEquity.

The firm states that repair and maintenance facilities have grown in value since mid-year 2008, by $4.578 billion and $1.321 billion respectively. Compare that to a nearly $8 billion deflation for new car dealers since mid-year, according to BizEquity.

Click here to read more...

Online Request for SBDC Counseling



Community Banks Weathering Crisis

Citigroup's announcement that it made money during the first two months of 2009 is welcome news on Wall Street, which has been a good-news-free zone for weeks on end. And while Citi's CEO said the bank is operating at a profit, which led the Dow to surge 300 points by midday, it's pretty obvious that for the rally to sustain itself, consumer sentiment is going to have to change.

What also needs to change is consumer perception of large banking institutions. People aren't going to easily forget corporate retreats on the taxpayer dime and executive bonuses for executives who oversaw the near collapse of venerable institutions. But what's been bad for big banks has been good for community banks, according to a report from the Independent Community Bankers of America.

Click here to read more...

Online Request for SBDC Counseling


Treasury Secretary To Entrepreneurs: Help Is Coming

U.S. Treasury Secretary Timothy Geithner told members of Congress last night that stimulus funds for entrepreneurs are on the way, with a Consumer and Business Lending Initiative and increased federal backing of SBA loans forthcoming.

The closed-door meeting with Democratic lawmakers laid out Geithner's plans to shore up a core, job-creating sector of the U.S. economy--small business.

Click here to read more...

Online Request for SBDC Counseling



Extreme Makeover: Banking Edition

Earlier this week, an enlightening account of Bear Stearns' sudden collapse hit bookstores everywhere. The title, House of Cards: A Tale of Hubris and Wretched Excess on Wall Street, aims to capture attention, and it says a lot about how the public's opinion of bankers and financial institutions has changed over the past year.

The reputation of the once-esteemed financial services sector is in tatters, and the case hasn't been helped by flagrantly gluttonous actions on the part of industry veterans like former NASDAQ chair Bernie Madoff, who bilked investors out of an estimated $65 million; and ex-Merrill CEO John Thain, who spent $1.22 million on an office renovation (one dubious purchase was a "parchment waste can" that cost $1,400), even as the company was hemorrhaging money.

Click here to read more...

Online Request for SBDC Counseling



Barter Fits the Bill for Strapped Firms

By RAYMUND FLANDEZ

Small businesses, squeezed for cash and unable to get loans, are turning to an ancient payment system: barter.


Daniel Blank, creative director at Bureau Blank Inc., a New York graphic-design and brand-identity company, first used bartering when he started the company in 2004, because it was hard to get capital for a start-up. But he hadn't had to barter since then, until now.


For the past couple of months, Mr. Blank has been getting advice on running his business from Joe Hunt, a former ad-agency owner who has started Workforce Enterprises LLC, a document-solutions company in New York. For about two hours each week, Mr. Hunt helps Bureau Blank with its accounting and finance operations, among other things.

Click here to read more...

Online Request for SBDC Counseling