Do you remember what prompted you to go into business for yourself? Have you stayed true to that initial vision? Do you even have a vision for your business? Challenging economic times require a clearly defined company vision and a well thought out strategy to achieve that vision. Successful business owners and executives understand that […]
Nearly three-quarters of the way through the 2011 fiscal year, a total of 20 loans worth a collective $4 million has been approved in Mesa County through two programs backed by the U.S. Small Business Administration. Those who work with SBA programs say lending activity has picked up, especially among larger businesses taking advantage of […]
Small business owners know collecting overdue accounts is especially difficult during a down economy. It’s not the most pleasant part of being an entrepreneur. But not handling collections expeditiously endangers cash flow and long-term viability. Here are six steps to make the collection process less stressful and more effective: Avoid late payments: Establish a standard […]
The U.S. Small Business Administration 504 loan program — one designed to finance the purchase, improvement or construction of a commercial building — has become somewhat of a bread and butter loan program for small business expansion as it’s considered a win-win-win for all three parties involved. The loan structure for a 504 is commonly […]
Starting a business during turbulent economic times poses an extremely challenging task. Experience shows that startup business owners have a better chance of succeeding if they follow a few critical steps. By studying why startup businesses fail, it’s possible to establish creative and innovative ways for entrepreneurs to avoid pitfalls. Research conducted by the U.S. […]
The federal government purchases more than $115 billion worth of goods and services each year from small business prime contractors. By law, the government must buy no less than 23 percent from small businesses. To be successful in federal contracting, you need to keep up with the Federal Acquisition Regulations (FAR). For more information, log on […]
Although I’m relatively new to the U.S. Small Business Administration, I’m not new to the issues facing small businesses. I operated a family owned office furniture store in Fargo, N.D., for more than 30 years. While the business survived the recession, it continues to face many challenges, including access to capital. The recent economic downturn […]
When President Barack Obama signed the Small Business Jobs Act last year, several changes were made to U.S. Small Business Administration export loan programs. A temporary alternative size standard will allow several thousand additional small firms to qualify for SBA programs. Now, instead of only using North American Industry Classification System (NAICS) codes and the […]
Most of us have heard how important it is for young people to gain a measure of financial literacy as they approach their adult lives. Many online and classroom resources are dedicated to making this type of education available. But what about financial literacy for prospective small business owners? What should entrepreneurs be aware of […]
The 2nd annual “Pink Ribbon Rally Golf Tournament” will take place on June 28th at Bookcliff Country Club. The tournament, whose proceeds go to support breast disease prevention, begins with a 12:00 shotgun start. The format is a 4-lady best ball, with one player playing a pink ball that must always count as one score. […]