Small businesses are the key to advancing America’s economy by bringing cutting-edge, high-impact technologies to the marketplace that improve health care, strengthen our military and protect the environment. However, small businesses often have difficulty competing with larger technology companies due to lack of capital for research and development (R&D) work that is critical for moving products from the planning to deployment stages. To help entrepreneurs successfully commercialize their products and services, the federal...
As a small business owner or entrepreneur, you know how important access to capital is to success. And we know it, too! During last month’s National Small Business Week (NSBW) events, which were held across the country and online, it was a topic addressed by our speakers and panelists as they shared experience and insights. One of those speakers was Janet Zablock, Head of Global Small Business at Visa, who talked about using electronic payments for your small business. Here’s a look at what she had to say. Whether you’re a...
Thinking about starting a business? Recent studies and reports have shown that entrepreneurs are more optimistic than in recent years when it comes to the state of their businesses this year, and that’s great news! But always high on the list of concerns for starting a business – even in optimistic times – is financing. Here’s a roundup of some ways, aside from avenues such as SBA-backed loans, to finance your business. Credit Cards According to expert Marco Carbajo, credit cards are a major source of financing for...
When it comes to financing, you probably already know that SBA doesn’t lend money directly to small business owners and entrepreneurs, but has various programs to help get small business ventures financed through local lenders. But did you also know that the Small Business Investment Company (SBIC) Program has been helping small business access capital for more than fifty years? What’s the SBIC Program? The Small Business Investment Company (SBIC) Program is a multi-billion dollar program that, in fiscal year 2013 alone,...
Did you know that in the wake of a disaster, SBA provides low-interest disaster loans to homeowners, renters, businesses of all sizes and private, nonprofit organizations? In the aftermath of hurricanes, floods, earthquakes, wildfires, tornadoes and other disasters, SBA is the primary source of money from the federal government for long-term recovery assistance. Am I eligible? SBA’s Disaster Loan Program is not exclusively for small businesses. These low-interest, long-term loans are available for damage to private property owned by...
Are you hungry for information about launching your food-service small business? While there’s a lot of shared information to get started across all industries, the food industry poses unique opportunities and questions. One of the most common we see is how to calculate the cost of food. Here’s one approach from small-business expert Sam Ashe-Edmunds, who dishes out food-cost calculations into nine steps to help ensure that you’ll be able to keep a consistent menu, please customers and remain profitable. Here’s what he...
The service of veterans has done a tremendous amount for the United States – on our own soil and around the world. Many continue their contributions to the country by channeling their skills and leadership into entrepreneurial endeavors that help strengthen our economy. And now through the rest of the fiscal year, SBA’s Express Loan Program will make it easier to get loans in the hands of veterans so they can succeed in their business ventures. Loan fees Through the end of September, SBA has set the borrower upfront fee to zero for...
Are you starting or expanding a business, and in need of a loan to help make it happen? While there are some larger loan options available, many entrepreneurs – particularly freelance, online and home-based businesses – require only a few thousand dollars to get started. If this is the case for you, consider a microloan. What’s a microloan? Microloans are loans in what would be considered “smaller” amounts than conventional business loans. SBA’s Microloan program, for instance, provides loans of up to $50,...
Most small businesses make charitable donations. In fact, surveys have shown that about 75 percent of small business owners donate some portion of their profits — about 6 percent on average — to charitable organizations each year. As we’re in the midst of the holiday season (and tax season looms), many small business owners are likely considering charitable contributions and wondering how such donations might impact the bottom line in terms of tax deductions. First, it’s important to choose the right charity and avoid...
Financing your small business ventures is likely one of your biggest concerns as an entrepreneur. One route you might be considering is to apply for grants, but there are strict guidelines when it comes to being eligible for any government grants. There are some instances that might make you eligible, but it depends on what kind of business you’re in and what the government and taxpayers may receive in return for their investment in your endeavor. Here’s what you should know. Is my business eligible? Federal and state governments...
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Loans, grants, taxes, and financial tips for your business.
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