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 […]
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 […]
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 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 […]
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 […]
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 […]
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 […]
Joan Anzelmo hears the same story nearly every day. Travelers see the signs for the Colorado National Monument and pull off Interstate Highway 70 expecting to find a roadside marker or perhaps a statue of some sort. What they discover instead is a vast landscape of redrock canyons and towering spires. As superintendent of the […]
Business owners and managers can burn a lot of hours juggling work schedules for their employees: setting and revising hours, adjusting for sick days and vacations and accommodating for turnover. While it’s not possible to abandon scheduling, a new tool offers help in setting schedules and notifying employees. A Web-based program called ReadySetWork enables employers […]
Smart phone users interested in starting or growing a small business can tap a variety of resources offered through a new mobile application from the U.S. Small Business Administration (SBA). “Increasingly, smart phones are the vehicle through which Americans access information. This is certainly true of many entrepreneurs and small business owners, and this new […]