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Financial tips and hacks for small business owners

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Loan Covenants: What Small Business Owners Need to Know

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Small business loan Covenants come with conditions that are in place to protect both you and the bank's best interest. The terms of a business loan or line of credit are very different than those of personal loans. Many small businesses begin with a personal or business credit card to help manage their cash flow. But if things go well then a $25,000 or even a $50,000 card limit won’t be enough to give you the flexibility you need. When your business needs a $100,000 or a $1 million line of … [Read more...]

How a Small-Business Owner Should Interview a Financial Adviser

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Many small-business owners are hesitant to engage a personal financial advisor. But here's why--and how--you should Interview a Financial Adviser. Many small-business owners have achieved success by taking a “hands-on” approach to running their companies. Having full control over your business’ operations gives peace of mind because after all, no one is going to care about your business like you do. But that attitude can actually lead to serious problems when it comes to managing your personal … [Read more...]

Should You Fund Your Startup With Convertible Debt?

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Should your business offer its investors debt or equity in exchange for capital? The answer may be both. There are many ways for a nascent small business to acquire the money it needs to start operations and expand. By now, many owners realize that the traditional bank loan is the most difficult and least advantageous source of capital for many small businesses. They instead turn to venture capital firms or angel investors. When you finally find the right funding partner and shake hands on the … [Read more...]

Supreme Court’s Obamacare Ruling Has Small Businesses Divided

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Experts on both sides of the issue weigh in on what the Affordable Care Act decision means for small-business owners. Mike Periu was quoted on "Supreme Court's Obamacare Ruling Has Small Businesses Divided" The U.S. Supreme Court's 5-to-4 decision put President Obama's health care reform to the test and found that legally its underpinning is strong. The ruling on the Patient Protection and Affordable Care Act, which came on June 28, was met with cheers by some, and objections from others. … [Read more...]

Why Small Business Owners Fall Prey to Investment Scams

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In your search for retirement security, don't fall prey to Investment Scams. Plan ahead and set reasonable expectations for growth. Convicted Ponzi-schemer R. Allen Stanford was sentenced to 110 years in prison recently for perpetrating a financial fraud with estimated losses of $7 billion. The Stanford Financial Group offered “investors” the opportunity to invest large sums of money at a very high interest rate with a 100 percent principal protection guarantee. Not bad, eh? Unfortunately for … [Read more...]

Why Business Loans Are Getting Cheaper

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The Federal Reserve releases its first quarter 2012 bank survey which helps gauge today's lending environment. Every quarter, the Federal Reserve conducts an extensive survey of lending officers at domestic banks and at the domestic branches of foreign banks operating in the U.S. The results of this survey provide key insight into what decision makers in the lending process are thinking and doing. The survey from the first quarter of 2012 has been released and the news is mixed. Lenders are … [Read more...]

Cómo ganar un millón de dólares

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Un millón de dólares no tiene el mismo valor que antes. Para la generación de nuestros padres, representaba independencia económica. Para la generación de nuestros abuelos, era una fortuna. Hoy representa tan solo el costo de una buena casa — pero no una mansión — en Miami, Los Angeles u otra ciudad principal. Pero aun así, la idea de ganar un millón de dólares significa éxito.  Hay muchos caminos al primer millón y después del primero es más fácil ganar el segundo, el tercero y el … [Read more...]

La infidelidad financiera es común… y perjudicial

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Según una encuesta recientemente elaborada por American Consumer Credit Counseling, la mayorí­a de las parejas en los Estados Unidos sufren de infidelidad financiera. Según la encuesta, el 60% de las mujeres y el 50% de los hombres alguna vez han mentido a su pareja con respecto al dinero. Esto incluye ocultar deudas, mentir sobre compras y evadir preguntas relacionadas con problemas financieros. Los motivos no siempre son malos. Por lo general, es un intento de evitar que el otro miembro de la … [Read more...]

Las más ridí­culas ideas de negocio… ¡que ganaron millones!

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A veces, los emprendedores se desaniman porque no encuentran la forma de ganar dinero. Muchos piensan que tienen que ser un experto en un campo,  un cientí­fico o un ejecutivo con experiencia para tener una empresa éxitos.  ¡Esto no tiene fundamento! Cualquiera puede ganar dinero con un producto — aunque te parezca ridículo — si existe un mercado para él.  ¿Quieres pruebas? Aquí están las más ridí­culas ideas de negocio. Snuggie Muchas personas se burlan de este producto. Imagínate que alguien … [Read more...]

Small-Business Moneyball

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If your payroll only goes so far, you'll get more bang for your small business' buck by taking a page from the Oakland Athletics' playbook. Who could resist a movie with Brad Pitt? In Moneyball, which is based on the 2003 book of the same name by Michael Lewis, Pitt plays Billy Beane, general manager of the Oakland Athletics. Pitt or no Pitt, I normally stay away from sports movies. But Moneyball is no ordinary sports movie. It’s a lesson in hiring to which all small- and large-business … [Read more...]