Dissolving a company, or going out of business is a tough process. Even after a company closes, outstanding debt does not go away. This includes money owed to employees, landlords, suppliers, utilities, service providers, and even banks and private lenders. You can limit your liability by notifying creditors of your closure, but you still need to...Read More

There has been a major development in the online alternative lending industry, making it easier to get qualified and approved for business loans, debt resolution, and consolidation. However, this option has also opened doors to online scams, hackers, and fraud. The pandemic has increased this problematic activity making small businesses more vulnerable. Now, thieves are...Read More

A new year brings new resolutions for your small business. Consider how you can improve this year in your role as a small business owner. Resolution 1: Review business targets and budgets Start by preparing a budget and review it monthly. This is important to the success of your company. Don’t let your budget gather...Read More

Manage your cash flow Many small business owners do not review their numbers regularly or believe that their finances are accurate. Still, “cash is king” is true for all businesses. You can look great on paper, but if you mismanage your cash flow – you become cash poor. This can make it hard to get...Read More

As a small business owner, any time of the year is a good time for a financial health check-up. This is analyzing your current financial situation, deciding where you want to be, and finding ways to get there. Managing your cash and finances is a foundation for a successful business. Almost half of small businesses...Read More

Running low on money is not uncommon among startups and small businesses. Watching your business account shrink can cause panic. Without money, you cannot pay vendors, salaries, and bills. Cashflow problems do not mean a company is doing poorly. This problem can be solved if you find them early enough. Whatever reason for financial hardship,...Read More

In the last decade, highlighting this past year, a lot of businesses ranging from small local businesses to large corporate conglomerates, have floundered and flatlined. Here are 4 key signs that your business is in financial trouble. 1. Imbalanced Cash Flow All small business owners know that “cash is king.” Consistent cash flow means there...Read More

Amid the lingering coronavirus pandemic, many small businesses continue to face extreme pressure, forced to adjust to ever-changing shutdown rules and taking on new, sometimes costly practices to keep their businesses and employees safe. There has been a lot of change in 2021 especially the changes in relief programs and collection practices. Collection Practices There...Read More

When a business closes, it usually has a good-sized pile of debts—to landlords, suppliers, utilities, service providers, and possibly a bank or private lenders. If you do close, you still have to make plans to either pay these bills in full, settle them for less than full payment, or an even worse approach – ignoring...Read More

Almost a year into the pandemic, small businesses with limited financial resources have either closed or are finding themselves in survival mode. Changes in customer behavior, pre-CoVid financial hardships and mandated shutdowns have forced many to the point of collapse. In fact, recent research by the Federal Reserve has found that only 35% of small...Read More