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The coronavirus pandemic has sent U.S. small business confidence into a tailspin, as government restrictions force some main street businesses to close or operate in limited hours, while foot traffic for many has dropped to near zero. . The federal government has promised help in the form of business loans through the Small Business Administration’s loan programs , but details on how those programs will receive funding are still in development. .
Key Takeaways For the first time in more than a decade, bankers may be dealing with large numbers of TDRs due to the coronavirus crisis. The FDIC recently reiterated that financial institutions should determine whether loans affected by COVID-19 should be reported as TDRs. A decision by FASB on TDRs and coronavirus modifications will be critical for lenders, given the implications for calculating the allowance for credit losses, or the allowance for loan and lease losses.
I have three different sports apps on my smartphone. Normally, at this time of the year, I am checking NCAA basketball scores, getting updates from spring training with my beloved St. Louis Cardinals, and catching up with hockey games. Now the only news on my apps are NFL trade rumors and notices that all sports seasons are on hold. At this point one wonders if the football season will actually kick off later this year.
Your past-due accounts are growing, cash flow is tightening, and the pressure is on. The big question: Do you handle the collections internally or outsource to experts? Both strategies come with advantages and risks - but which one delivers the best impact for your business? In this session we’ll dive deep into the in-house vs. outsourcing debate, examining cost-effectiveness, efficiency, compliance risks, and overall recovery success rates.
How you accept payments is crucial to the way your business operates and makes money—which makes choosing a payment processor an important decision. Luckily, with the growth of the merchant services industry, there are now more providers than ever for small businesses, whether you’re looking to accept in-person payments, online payments, or a combination of both.
Key Takeaways. There has been an uptick in phishing scams in Europe and North America related to the coronavirus. Assets available on the dark web include a real-time heatmap of COVID-19 cases. Educate your employees and stakeholders to stay protected. For cybercriminals, vulnerability and anxiety present opportunity. As the coronavirus (COVID-19) continues to spread around the world, cybercriminals are taking advantage of the widespread fear.
Key Takeaways. There has been an uptick in phishing scams in Europe and North America related to the coronavirus. Assets available on the dark web include a real-time heatmap of COVID-19 cases. Educate your employees and stakeholders to stay protected. For cybercriminals, vulnerability and anxiety present opportunity. As the coronavirus (COVID-19) continues to spread around the world, cybercriminals are taking advantage of the widespread fear.
When you’re a small business owner, managing your team can be critical to your success, especially when it comes to behind-the-scenes processes like payroll, onboarding, recruiting, and more. This being said, however, as important (and often complicated) as these operations are, they’re all the more complex when you’re juggling different software platforms and trying to implement multiple processes across these systems.
Paying your employees correctly and on time is one of the many essential tasks you have to manage to keep your business running smoothly. While this can be a time-consuming and even confusing undertaking, there are payroll services to automate the process for you. However, with so many options out there, you may not be sure which to choose for your business. .
Mindfulness in the workplace has grown in popularity in the business and scientific communities because of its ability to bring awareness to the present moment and increase employees’ wellbeing at work. The concept of mindfulness, which stems from the early teachings of Buddha, improves mental function and can result in a greater perception of happiness, according to The American Psychological Association.
Using software to handle all of the HR for your small business can make your job as a small business owner that much easier. When you have help with your HR needs, you can get back to doing what you do best—actually running your business. . Two names you’ve likely seen in your preliminary research are Gusto and BambooHR. If you’re wondering which would best-serve your business, this Gusto vs.
How to Start a Graphic Design Business in 7 Steps. Choose a name and business entity. Choose your niche. Write a business plan. Organize your marketing materials. Build your client base. Separate your business and personal finances. Consider your financing options. Deciding to start a business is a big step for any entrepreneur. However, what follows are many more steps to successfully launch and grow your business.
Paycom Review, Summarized. Pros of Paycom: Full-service payroll and HR software. Includes advanced and detailed features. Highly functional employee self-service app. Known for top-notch customer service. Cons of Paycom: No transparent pricing information. Extensive features may be overwhelming or unnecessary for many small businesses. Doesn’t offer integration options for third-party tools.
A good HR software can make your life as a business owner significantly easier. Such software can help you automate your payroll, manage health benefits, file taxes, and more. If you’ve come across Gusto or Justworks in your search for the right HR solution, you may be wondering if either can serve your needs. . That’s where our Justworks vs. Gusto comparison comes in.
To my fellow entrepreneurs, As the CEO and co-founder of Fundera, I’ve had the privilege of supporting entrepreneurs for the past six years by helping them confidently find the financing they need to grow and sustain their businesses. To date, we’ve helped tens of thousands of small business owners secure nearly $2 billion in credit. . Everything you’re about to read is my opinion—not fact.
Even in normal times, small businesses can struggle to properly manage their cash flow—the balance of money that goes in and out of their business through revenue and expenses. In the ongoing fallout from the coronavirus pandemic, the issue of cash flow has become an immediate concern for millions of small businesses across the U.S. and around the world. .
Many of us use Instagram to keep up with friends and family and to post about our lives. What many people don’t realize is that you can use Instagram to start a business and make money, either as a side hustle or even a full-time gig. . Instagram business ideas aren’t the same as marketing an existing business on Instagram. Rather, Instagram businesses are operated largely (or, in some cases, solely) on Instagram.
What Is the Work Opportunity Tax Credit? The work opportunity tax credit offers a tax credit to employers who hire employees from certain target groups that have historically faced barriers to employment, including ex-felons, veterans, and people on long-term unemployment. The credit is based on qualified wages paid to these employees during their first year of employment.
Chick-fil-A has accomplished impressive feats since their founding in 1946. This franchise has opened over 2,000 restaurants, reported $9 billion in revenue in 2017, and is an industry leader in customer satisfaction. . Chick-fil-A’s reputation is so impressive that they have the most satisfied customers among their competitors, reports QSR Magazine.
Small Business Health Care Tax Credit. The small business health care tax credit is available to small businesses to help offset the cost of health care premiums they pay for their employees. To qualify, small businesses must offer a qualified health plan to their employees through the Small Business Health Options Program Marketplace (SHOP), pay at least 50% of the cost, and have fewer than 25 full-time equivalent employees with an average salary less than $55,000.
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