Fundera

SEPTEMBER 15, 2018

If you’re thinking about starting a business, you’re definitely not alone. About 540,000 people start businesses in the U.S. every month , according to the Kauffman Index of Startup Activity. But not all of those businesses will last. Almost 80% of new businesses survive the first year, according to the U.S. Bureau of Labor Statistics. About half survive five years or longer, and about one-third make it to their 10-year anniversary.

Credit Scoring 105

Credit Scoring Small Businesses 105

GoCardless

SEPTEMBER 2, 2018

Find out how member demands and preferences will evolve over the next few years and whether your current Direct Debit solution can handle these changes.

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Fundera

SEPTEMBER 5, 2018

Few things are as intimidating for entrepreneurs as maintaining their brand’s presence on Facebook, Instagram, and Twitter. Social media management for small business owners can feel like a daunting process: you have to keep on top of trends, produce content, and promote your business without coming off as sales-y or promotional. Or, if you delegate your small business’ social media management to an employee, you have to make sure they’re keeping the channels active (and that their follower inte

Small Businesses 100

Small Businesses 100

Fundera

SEPTEMBER 17, 2018

Branding is a universal constant in business. The smallest mom-and-pop shop down the street needs a positive brand to thrive, and so do the biggest corporations. No matter what industry you’re in or the size of your company, a positive brand is important for your business’s future. It would be pretty easy if creating a brand was simply about slapping a logo on your product.

Small Businesses 100

Small Businesses 100

Fundera

SEPTEMBER 11, 2018

Benefits of Getting an EIN. File Business Taxes and Avoid Tax Penalties. Prevent Identity Theft. Add Credibility as a Freelancer and Independent Contractor. Speed Up Business Loan Applications. Open a Business Bank Account. Build Trust With Vendors. Establish Business Credit. Easily Hire Employees. Get More Options as an Overseas Entrepreneur. An employer identification number (EIN), or business tax ID, is a unique nine-digit number that you use when filing taxes for your business.

Deductions 100

Deductions Bankruptcy Credit Scoring Small Businesses 100

Fundera

SEPTEMBER 12, 2018

Kicking a startup into accelerated growth mode takes capital. And a lot of it. Although startups do have options for business funding , it’s admittedly difficult to get a hold of the money you need to go big without a substantial financial track record. Some startups also don’t want to take on too much debt early on, and would rather give up equity to angel investors for small business.

Small Businesses 99

Small Businesses 99

Fundera

SEPTEMBER 18, 2018

When a credit bureau computes your credit score, their job is to produce a number that estimates—given your past and current financial history—how likely you are to default on future debts. Exactly how each bureau calculates your credit score is a bit of a mystery, but we do know that they take into account various indicators of your fiscal health. There are five notable components of a personal credit score.

Credit Scoring 93

Credit Scoring Small Businesses Credit and Collections Collector 93

Fundera

SEPTEMBER 14, 2018

Estate Planning for Small Business Owners in 8 Steps. Start with a will and basic estate plan. Plan for tax efficiencies. Sort out issues in family-owned businesses. Draft a buy-sell agreement (for multi-owner businesses). Buy life and disability insurance. Create a succession plan. Have a discussion with affected parties. Update your estate plan as necessary.

Small Businesses 85

Small Businesses Law Firms Transactions Default 85

Fundera

SEPTEMBER 4, 2018

The last time you walked into an independently owned bookstore or cafe, or even your local McDonald’s, chances are good that a baby boomer owned the business. According to nonprofit group Project Equity, individuals born between 1946 and 1964 own over 2.34 million small businesses , employing almost 25 million people nationwide. Instead of retiring, many older individuals are becoming entrepreneurs.

Credit Scoring 84

Credit Scoring Small Businesses Default 84

Fundera

SEPTEMBER 16, 2018

8 Best Credit Unions for Small Business Owners in 2018. America First Credit Union. Alliant Credit Union. Navy Federal Credit Union. First Tech Federal Credit Union. Self-Help Credit Union. Consumers Credit Union. Digital Federal Credit Union. Boeing Employees Credit Union. One of the most important decisions you’ll make as a small business owner is finding a hub for your business’s finances.

Credit Unions 81

Credit Unions Small Businesses Credit Card Payments Transactions 81

Fundera

SEPTEMBER 21, 2018

For most entrepreneurs, the early days of starting a business involve a massive learning curve. Whether you’ve graduated with an MBA or you’ve never taken a business class in your life, there will always be a new problem to face, and you’ll always need to recalibrate the processes that allow your business to function and grow. That’s when the best online business courses can come in handy.

Small Businesses 75

Small Businesses 75

Fundera

SEPTEMBER 12, 2018

1099 vs. W2 Employee. 1099 workers are self-employed independent contractors. They receive pay in accord with the terms of their contract and get a 1099 form to report income on their tax return. In contrast, a W2 employee is entitled to a regular wage and employee benefits such as sick leave. The employer withholds income taxes from the employee’s paycheck and has a significant degree of control over the employee’s work.

Small Businesses 75

Small Businesses Default 75

Fundera

SEPTEMBER 5, 2018

How to Build Credit Fast – 5 Best Ways. Frequently check your credit report and fix errors. Get a credit card. Become an authorized user on a responsible person’s credit card. Get a credit builder loan. Ask for a credit line increase. Unless you have an absolutely perfect credit score—850—we’re willing to bet that you’d like to tack on a few points to that three-digit number.

Credit Scoring 75

Credit Scoring Credit Reporting Agencies Credit Unions Credit Card Companies 75

Fundera

SEPTEMBER 29, 2018

Over the past few years, you might have seen a Facebook page for a life coach promoting their services, or noticed that your yoga instructor has taken on the role of personal, spiritual, or professional advisor to some of your classmates. And if you have a zest for life and enjoy helping others reach their full potential, then perhaps you’ve considered becoming a life coach yourself.

Small Businesses 75

Small Businesses 75

Fundera

SEPTEMBER 20, 2018

What Is Business Bankruptcy? If you’re struggling to pay off business debts, filing for business bankruptcy might help. Business owners can file for Chapter 7, Chapter 11, or Chapter 13 bankruptcy, depending on the business’s debt levels and financial situation. A Chapter 7 filing typically ends in the liquidation of the business, with the assets distributed among creditors.

Business Bankruptcy 74

Business Bankruptcy Bankruptcy Chapter 11 Chapter 7 74

Fundera

SEPTEMBER 20, 2018

When you’re beginning your business, it makes sense that you’d pay for expenses directly out of your pocket. But if you want to accelerate your growth—or need business financing for other reasons—you’ll have to make a decision about where you’re going to seek out additional capital. Some entrepreneurs decide to apply for a small business loan, while others look for venture capital in the form of angel investors for small business.

Small Businesses 73

Small Businesses 73

Fundera

SEPTEMBER 1, 2018

Like many small businesses, family-run operations often seek business financing to expand operations and develop new products. But business owners will likely take a different approach to funding the family business than other entrepreneurs or startup founders would—they want to stay in business, of course, but they’ll prioritize retaining management of their company, and think about how their financial decisions impact future generations.

Small Businesses 72

Small Businesses Credit Scoring 72

Fundera

SEPTEMBER 13, 2018

For women in the workforce, the gender wage gap is a very real problem. And according to research from FreshBooks, women employees aren’t the only ones contending with lower wages: Self-employed women also earn 28% less than their male counterparts , on average. A disheartening 70% of women surveyed by FreshBooks said discrimination and the “glass ceiling” were big factors in their decision to pursue entrepreneurship.

Credit and Collections 71

Credit and Collections Small Businesses 71

Fundera

SEPTEMBER 11, 2018

There are few businesses as exciting or creative as those within the music industry. But, at the same time, funding a music business tends to require much more capital than other lines of work—if you’re looking to open up your own recording studio, rehearsal space, or propel your band to the top of the charts, you’re going to need a surprising amount of music business funding to reach those goals.

Small Businesses 67

Small Businesses Credit Scoring 67

Fundera

SEPTEMBER 11, 2018

Adding the word “business” in front of “credit card” can make the whole thing feel stuffy, but it doesn’t have to be that way—in fact, there are plenty of cards available with perks just as cool as the latest consumer cards. We’ve done the dirty work and not only found the seven best perks on the market but figured out how to use them to your business’ advantage. 1.

Credit Scoring 65

Credit Scoring 65

Fundera

SEPTEMBER 6, 2018

If your search for a business credit card has brought you to the Bank of America secured card—and secured business credit cards in general—then you’ve figured out something very important about the business credit card process: Your personal credit score is crucial in determining whether or not you qualify for a business credit card. As counterintuitive as this may seem, it makes sense if you think about it: Your personal credit score indicates what kind of spender you are.

Credit Scoring 63

Credit Scoring Transactions 63

Fundera

SEPTEMBER 23, 2018

It’s not uncommon to see temporary storefronts selling Halloween costumes suddenly cropping up during the autumn months in empty strip mall spaces or shopping centers. Meet the pop-up shop, an industry segment valued at $50 billion in the United States in 2016. Unlike many small businesses, these shops tend to cater to a specific season or for a certain promotional reason.

Small Businesses 63

Small Businesses 63

Fundera

SEPTEMBER 3, 2018

For many business owners, buying and operating a franchise offers a happy medium between bootstrapped entrepreneurship and traditional employment. As a franchise owner, you’ll step right into the franchisor’s unparalleled resources, stability, and proven business model, but you’ll also enjoy the autonomy of small business ownership.

Small Businesses 62

Small Businesses Credit and Collections Credit Scoring Default 62

Fundera

SEPTEMBER 25, 2018

No matter where you work, there are some personality types you’ll find in pretty much every office you encounter. Learning to navigate office dynamics is crucial to your success in climbing the corporate later — in fact, some think emotional intelligence is responsible for 58% of performance at work. If learning how to better interact with your coworkers sounds like yet another mind-numbing task on your to-do list, have no fear!

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Fundera

SEPTEMBER 22, 2018

No matter what industry you’re in, you’re likely paying someone for something in order to keep your business running. Altogether, those expenses—most specifically the ones purchased on credit—create a line item on your balance sheet known as “accounts payable,” and the management of accounts payable is one of your most crucial tasks as a small business owner.

Small Businesses 61

Small Businesses 61

Fundera

SEPTEMBER 3, 2018

Your employees are the oil that makes your company run. If they’re happy, the company will work better —and, hopefully, thrive. A Gallup study of 192 organizations found that workplaces with the highest levels of employee engagement were 22% more profitable than those with the lowest levels of engagement. Still not convinced? Cvent, an online software provider, found that customer retention rates are 18% higher on average when employees are highly engaged—and Business 2 Community reports that co

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Fundera

SEPTEMBER 27, 2018

Ecommerce is no longer just an alternative to buying in-store; in fact, ecommerce mega-platform Shopify predicts an increase in worldwide ecommerce sales from $1.3 trillion in 2014 to $4.5 trillion in 2021. (That’s a 246.15% uptick, for those keeping score.) So, finding funding for ecommerce business is, well, serious business. You’re following in the footsteps of big companies across both B2B and B2C—not just Etsy shops.

Credit and Collections 59

Credit and Collections Small Businesses Credit Scoring 59

Fundera

SEPTEMBER 24, 2018

A whopping 70% of U.S. businesses are owned and operated by sole proprietors or sole traders. But while it’s the most common business structure, many people know surprisingly little about sole proprietorship. Whether you want to learn more about sole proprietorship or are already a sole proprietor who wants to educate your friends and family, read on as we dispel five common myths about this business type.

Investment Firms 59

Investment Firms Credit Scoring Small Businesses 59

Fundera

SEPTEMBER 28, 2018

Even if you consider yourself first-rate in your field and a master at making logical decisions you still need mental shortcuts to function efficiently and effectively. Limits in time, information, and memory means your brain has to perform a huge number of mental tricks. Since the average person makes 35,000 decisions daily, these timesavers are essential to cutting through the noise and getting things done.

Small Businesses 58

Small Businesses 58

Fundera

SEPTEMBER 7, 2018

There are countless resources that educate entrepreneurs about the various small business loans they can pursue. But once you choose the right financing option for your business, it can be more difficult to find information about how to negotiate with a lender. And if you’re lucky enough to secure an SBA loan, you might find it difficult to navigate your loan’s complicated terms, let alone renegotiate them—if it’s even possible to negotiate an SBA loan offer at all.

Default 58

Default Credit and Collections Small Businesses 58