Search results for

Business Line of Credit vs. Business Loan: What You Need to Know

  There are several key elements needed for a successful small business: a dedicated proprietor, a solid business plan, a service or products that address a need in the market, and, perhaps most importantly of all…funding.  Even if a business is successful from day one, proprietors may find it challenging to have enough cash on […]

What is Receivables Financing?

Chances are you’ve heard of accounts payable and accounts receivable; you might also be familiar with the term “receivables financing”, but not know exactly what it is or how it works. If that’s the case, you’re in the right place. To avoid any confusion, let’s start by reviewing some basic accounting terms. Accounts payable is […]

Balance Sheet vs. Income Statement: What’s the Difference? The Two Most Important Financial Statements for Your Business

As a small business owner,  you know that tracking the health of your business is critical. In this article, we’ll discuss two of the most important financial statements for a business – the balance sheet and the income statement. We’ll examine how they are different and how others might look at the statements to determine […]

How to Find Working Capital

Your business is making money, you’re gaining more customers, and enjoying a steady stream of incoming cash. Perhaps you’re considering growing your team of employees, expanding your inventory, services, or product offerings, or taking additional steps to solidify your business’ impact on the market. But even with a consistent cash flow, your company needs to […]

What is a Good Profit Margin?

As a small business owner, your profit margin might feel like the clearest way to define your success. Considering how hard it can be to keep your head above water, especially in the early days of your venture, breaking even (or even making a profit!) can give you the motivation you need to continue pushing […]

How Do I Get a Business Credit Report: The Basics

Getting a business credit report is easy – if you know where to look. Like a personal credit report, the business version considers the most vital details of a business, including:    Past payment history and collections  Public filings  Overall sales numbers  Ownership and subsidiaries Number of employees Historical business operational data  Industry classification   […]

How to Create an Annual Business Budget

Your company’s annual budget is an overview of your business finances — both current and future. It is an essential planning tool that allows you to see your financial health at a glance and chart a course for the coming year. If you’re like most small business owners today, you feel like you’re spending every […]

How Can My Seasonal Business Budget for Revenue Changes?

All seasonal businesses experience revenue challenges during specific months of the year. As an owner of a seasonal business, you have one of the toughest entrepreneurial jobs. You work to market and promote your products or services year-round while generating the bulk of your income in three to six months. A lot of seasonal companies […]

What Are Your 2021 Federal Tax Rates for Your Business?

Here we’ll give you a bit of insight into what small business tax rate you’ll be facing next tax season. In light of the Tax Cuts and Jobs Act of 2017, it’s no surprise that businesses are facing some changes when it comes to their tax filing this season.

How Does Payroll Financing Work?

Payroll financing works by funding a firm’s invoices and is typically known as invoice factoring or accounts receivable financing. During slower months, small or seasonal companies often lack the reserves to cover employee payroll.  Payroll financing provides these small business owners the capacity to pay employees even if their company struggles with cash flow issues.  […]