5 Biggest Mistakes Small Businesses Make
According to the U.S. Bureau of Labor Statistics, 20% of start-up businesses fail during the first two years and around 50% fail in the first five years. This can be discouraging to startup entrepreneurs who are looking to start a business. Let’s look at the five biggest mistakes small businesses can make and the potential […]
The Top 5 Reasons You Need a Business Bank Account
When you’re starting a small business, there are a lot of important decisions to make. One of the most important is what type of bank account you should use. In today’s age of side hustles, freelancing, or opening a business from your makeshift home office, small business owners mistakenly believe that they can use […]
5 Tips for Improving Your Business Credit Reports
If you’ve been through the process of building your personal credit, you know it takes commitment. Building your new business credit is similar in this way, but it’s a little more complicated than building your personal credit. Whether your business is new or it’s been operational for some time, you can follow these five steps […]
Social Media Marketing Tips for Small Business: How Much Should You Spend on Ads?
In case you missed it, step one was deciding what level of consistency you can dedicate to your social media marketing presence. If you’ve started posting weekly (or even more), congratulations! Now, how do you reach a broader audience? Before you think about specific social media marketing ideas for small business, let’s acknowledge the truth: […]
Getting Started With a Business Credit Report
What is a business credit report? You may be familiar with FICO score for your consumer credit report. Well, a similar credit score exists for your business. A business credit report is how the bureaus monitor information about the risk involved with your business, specifically around credit and lending. Simply put, your score indicates your […]
Small Business Finance Glossary: Revenue vs. Income
What’s the difference between revenue and income? It’s easy to confuse revenue and income, and sometimes small business owners focus on “money coming in” as a catch-all. Maximizing sales means healthy income and healthy revenue, right? Well, not necessarily. It can be very important to differentiate revenue and income to fully understand the health of […]
Small Business Finance Glossary: What is Burn Rate?
As a small business owner, you likely started your company because of your passion and expertise for the products and services you provide—not because of your passion for financial statements. For this reason, critical financial metrics often go unnoticed by business owners. One of the most common examples is burn rate. Burn rate is one […]
10 Steps to Starting a New Business
Congratulations, you’re considering starting a new company to pursue your dreams and ambitions. Kudos to you! As entrepreneurs, we all have different experiences. The blueprint for one small business won’t necessarily work for another, but some elements of starting up will always be true. Here are the top 10 things to consider when starting your […]
Small Business Banking Options: How to Choose a Bank for Your Small Business
Early on, small business owners make a number of critical decisions that shape the success of their business. Entrepreneurs put time, research, and critical thought into naming their company, identifying target markets, making their first hires, forming partnerships, and much more. As for their bank—well, they’re almost all the same, right? Actually, banking options for […]
