What are The Benefits and Pitfalls of a Small Business Loan

Despite the many challenges involved in running a small business, it is also an exciting time. There’s so much room for potential, and different aspects of your industry to explore in your business’ development. However, if you’re to drive your business forward and ensure a tangible presence in your local area, raising capital is an absolute must.

One way of achieving your short and long-term goals is by applying for a Small Business Loan. So to help you make an informed decision, here’s what you need to know about Small Business Loans.

Small business loan

What should I do before applying for a small business loan?

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How to Choose a Perfect Accounting Software Program for Your Business – 5 Tips

Accounting has come a long way in the past few decades. It wasn’t all that long ago when the most reliable method in keeping track of income and expenses involved a paper ledger and pencil. With the arrival of new technology, computers have taken the work out of figuring out the numbers and bookkeeping has become much easier as a result.

Businesswoman using accounting software

With the creation of accounting software, any size business can use it and features include far more than calculating the bottom line. These software programs offer options that include forecasting, inventory management and so much more. But how do you choose the right one?…

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How Contractors Can Help Their Customers Find Financing Options

One of the problems with contracted jobs is the cost. Now really, the cost isn’t the actual problem, it’s the sticker shock your customers get when they find out how much their project will cost. They simply aren’t prepared to face a $10,000 or $20,000 (or more) price tag and immediately have second thoughts.

Contractor

So what can you do about this? One way to help is to make it clear there are ways to finance the job available and you can help them use one of them. Then when you get to the price tag you can fill them in with some of those options.…

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Why it’s Crucial to Understand if Your Business can Afford a Business Loan

If your business is running low on cash, or if you’re keen to expand but don’t have the capital, a business loan can seem like the perfect answer.

Business loan

It’s true that a business loan can provide a valuable boost to working capital, especially if your income fluctuates. It can also enable you to pursue exciting growth opportunities.

And these days, getting a small business loan is much easier than it used to be. There is a booming alternative finance market in Australia, with a huge range of lenders eager to lend to small businesses. In fact, about half of Australia’s two million small businesses have a business loan facility other than a credit card.…

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Insure The Future Of Your Small Business

Owning your own business comes along with a whole slew of responsibilities. One of the most important responsibilities of being a business owner is planning and investing in your future. Taking the necessary precautions to insure every angle of your organization is wise.

Business insurance types

Unfortunately, there is no umbrella insurance policy set up to cover every possible malfunction of business. In fact, there are more than ten different types of business insurance. Here is a brief breakdown of a few of the most vital types of insurance you’ll need to protect your business.

Workers’ Compensation

Workers’ compensation insurance is required by law for most business owners.…

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How Much Can You Save when Using Virtual Office vs. Physical Office?

The goal of any business is to generate as much revenue as possible while servicing their customers to the very best of their ability. A virtual office is a great way to save tens of thousands of dollars per year in office expenses. Virtual office rental accomplishes this for many businesses by offering a physical office for important meetings, a private place to work as needed, and mail drop off/forwarding that adds a level of professionalism to any business.

Save money on staff

After all, where you reside says a lot to customers about how much value you can offer. Setting up a Virtual Headquarters, you get the prestige of the virtual location you rent, without all the expenses.…

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4 Ways for Startup Trucking Companies to Reduce Costs

Many entrepreneurs are starting to see the value of operating a business within the industry of truck driving. However, startup companies suffer from high failure rates, and new establishments survive on thin profit margins. On top of that, the trucker’s ongoing requirement to maintain equipment, buy fuel and do payroll can sometimes leave the short-term fiscal strength of a company in a precarious state.

Trucking business opportunities

So how does a business owner plan for growth in such a tumultuous situation? Increasing loads/deliveries could be an option, but it comes with the risk of employees getting infuriated from the increased workload. Luckily, a better solution exists.…

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What is CIBIL Score and How to Improve Your CIBIL Score?

Does the word CIBIL score ring any bell? Do you know what it is? Or why does it matter to you? Well, read on!

CIBIL score refers to 3 numerical digits which signify the credit history effectiveness of an individual. CIBIL stands for Credit Information Bureau (India) Limited who prepares a Credit Information Report (CIR) for every individual.

CIBIL score

This score is essential to evaluate and approve loan applications.

A Brief Intro

Founded in 2000, CIBIL is India’s first Credit Information Company. It is also known as the Credit Bureau and is regulated under the Credit Information Companies Regulation Act, 2005. By providing fair ratings to each individual, they play a major role in preventing loan risks.…

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Small Business Financing: A Few Misconceptions Addressed

Navigating the lending landscape seems to be an eternal struggle for small businesses – thanks to the series of misconceptions associated with small business financing, in general. Small business lending rules that existed 10 years ago, don’t really exist anymore. If you have a credit score of 680 or above, some kind of collateral and some experience to boot, you will easily qualify for a loan right? Not really! As a small business owner, there are still chances of you being turned away.

Small business financing miscoceptions addressed

Considering the difficulties of securing a financial assistance from banks—a bank loan itself is considered to be a myth – i.e.…

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Should Small Businesses Adopt Cryptocurrencies?

The ongoing buzz around cryptocurrencies and what they could do for businesses in the future is one that doesn’t look to be dying down any time soon. One of the hot topics in the discussion currently, however, is whether or not small businesses should start to accept cryptocurrencies as payments in the near future. Here, we’re exploring exactly that.

An Introduction To Cryptocurrencies

By definition, a cryptocurrency is a digital currency that relies on encryption techniques to regulate and verify transactions, transfers and the generation of new ‘coins’. This means that the currency should be decentralised, operating entirely separate to any companies, institutions or banks which not only increases security and reduced risk of fraud, but also provide a fast, efficient and low-cost method of payments and transactions.…

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