Moneying articles focus on all aspects related to business finance, including budgeting, bookkeeping, pricing strategy, insurance, and more. Since you presumably went into business to make money, knowing how to manage it effectively will help keep you in business and move you toward the profitability you seek.
Entrepreneurs and small-business owners have many stresses to deal with, and due to their level of both financial and emotional investment, may end up heading towards bankruptcy without being fully aware of the circumstances. Being on the lookout for warning signs is obviously key, but there are other steps you can take to salvage a bad situation. I interviewed Jon Paul Kelly … [Read more...]
There are times when buying or leasing a vehicle through your small business is a must. After all, it’s pretty hard to make your flower shop deliveries or show your real estate clients homes without a set of wheels. The same holds true if you own a service-based company—such as one that specializes in plumbing, landscaping, or house cleaning—where clients rely on you and/or … [Read more...]
Establishing and maintaining good credit for your small business can help you secure low-interest loans and to negotiate favorable terms with your suppliers. A good credit rating also can help you attract new business, since potential clients may check you business score as a way to gauge your reputation and your credibility. What is a small business credit score? Just as … [Read more...]
According to the U.S. Bureau of Labor Statistics, over 50% of start-up businesses fail within five years. This is a staggering statistic and one that should bring concern to anyone seeking to start a new business venture. An alternative to starting a new business is to purchase an existing establishment. This option, if all goes right, can significantly decrease the risk … [Read more...]
Let’s say you have built a successful business over the years and you’re starting to think it’s time to exit. It may seem straightforward – sell the business and enjoy the fruits of your labor! You may be thinking about selling the business yourself. After all, you undoubtedly understand the management and cash flow of your business, and have learned a lot about the legal and … [Read more...]
You started your business with great hope for the future in front of you, but somewhere along the line, it all went wrong. Your finances are a mess, and you might even be teetering on the brink of bankruptcy. What you need to do is reevaluate your business and its finances fast and make some serious changes if you want your business to survive. Here are some ways to re-envision … [Read more...]
Statista reports that, from 2011 to 2015, businesses in the U.S. spent more than $863 billion total in advertising-related expenses. Furthermore, these costs increase around $10 billion annually, which just goes to show that getting your name, products, and services out there can take a huge chunk out of your budget—especially if you’re a smaller business. To help keep these … [Read more...]
There are countless ways to sink a business. Some of them are quite creative. But most are of the mundane variety. There are more ways to weaken and destroy a small business than there are ways to keep one going strong. Sometimes the key to keeping a business strong is to be familiar enough with what would weaken the business. Some of those common pitfalls include: … [Read more...]
The age of mobile is upon us, bringing unprecedented opportunities and challenges. In fact, Transparency Market Research has forecast a 38% compound annual growth rate (CAGR) of the global mobile point-of-sale (mPOS) market between 2015 and 2024. The opportunities to create greater customer experiences via easy and quick payment are many, but one of the challenges lies in … [Read more...]
When you own your own business, you have to not only expect, but also plan for the natural ups and downs that you’re likely to face financially—especially in your first few years of operation. Some weeks it’s a feast and the next it can be a famine, making it desirable to find other ways to earn income so you’re more stable and able to withstand the “dry” seasons. One of the … [Read more...]
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