A concept that new business owners need to understand is the difference between business bank accounts and merchant accounts. Business bank accounts are used as a means to dealing with the expenses of opening a business. Merchant accounts and merchant account providers deal only with processing credit and debit card transactions. Since few businesses these days are able to operate on a cash-only basis, even small business owners need a merchant account to accept credit or debit card payments from customers. Read the rest here »
Building Business Credit
With hurricanes, tornadoes, floods, wildfires, and other natural disasters affecting so many individuals and businesses throughout the US this year, many have been left wondering how they’re going to pay for the cleanup or when their businesses will be able to reopen. Read the rest here »
New small business owners can feel overwhelmed with the additional tax reporting requirements. Here are a few basic tips and reminders to set you in the right direction so you can avoid possible problems:
First, keep good records. Whatever system you use… use it regularly, don’t wait until the week you do your taxes. Read the rest here »
A small business owner can take steps to improve their bad credit. Improving a bad credit rating is important and something a business owner should be concerned with. Read the rest here »
This year the United States Postal Service (USPS) increased rates for packages. This increase falls in line with UPS, FedEx, and other shipping companies.
These increases in rates puts pressure on small business owners who rely on shipping as a form of product delivery. Read the rest here »
If you are planning on applying for business credit or finance, one of the first things your bank will ask to see is your business plan. Even if you are not applying for financing a business plan is worth the effort to write. Here are a few good reasons to get it done: Read the rest here »
The U.S. Treasury Department via the Small Business Jobs Act has approved three states – Connecticut, Missouri and Vermont – to receive more than $50 million to support lending to small businesses.
These three states will receive more than $50 million with the purpose of supporting lending to small businesses. This money can end up in loans of $534 million to businesses. Read the rest here »
After a few years of banks keeping a tight cap on extending credit to businesses, these companies are starting to relax a bit. If you are looking to get credit for your business there are still a few things you can do to help make it easier for you. Read the rest here »
Setting up a Limited Liability Company without an Attorney can be easier than you might think. First you want to research the benefits of having an LLC to make sure it is the best option for your and your business. Read the rest here »
A Limited Liability Company (LLC) is a popular option for many small businesses. An LLC is a type of business that had the benefits of the limited liability of a corporation with the tax structure of a partnership. Read the rest here »