What Every Entrepreneur Should Know About Small Business Credit Cards

Any business owner can tell you that while getting a business started is difficult enough, it’s only the beginning of the battle. When it comes to keeping a business running, you’ll need to continue buying supplies and covering many other expenses that are associated with business operations.

credit cards for small businesses

Many business owners choose to cover these expenses through the use of small business credit cards. Still, other business owners are hesitant to get a credit card for their companies for a number of reasons. Let’s take a look at the advantages and disadvantages of small business credit cards and you can easily determine whether or not one is right for your business.…

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Guarding Your Balance Sheet – Tips for Survival in Today’s Volatile Market

saving money in a down economyAs the recession continues to extend into 2010, we continue to be inundated by news about the challenges that face the small business community.

While we are not completely out of the woods in terms of the economy, there are several things that small business owners can do to protect their businesses during these challenging times:

Manage Collections: Outstanding invoices should be aggressively followed up on round-the-clock. Having unpaid invoices will create instability. Be aggressive and assume the worst.

Collect Upfront: Make sure that all of your contracts stipulate payment upfront. Net 30 can stretch into Net 60, then you are stuck doing work for 2-3 months without being paid.…

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