Tag: Guide

Put a price tag on your business: A guide to business valuation – Canada Business Network #best #business #cards

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Put a price tag on your business: A guide to business valuation

If you want to sell all or part of your business, you need to have an idea of its value. This information will help you understand the different approaches to business valuation, but you may want to seek professional guidance and advice. Prospective investors will also assess its value when they consider your proposal.

The process of determining the value is called valuation. You and the buyer or investor need to determine what you feel is an appropriate business valuation because it will be the basis for negotiating:

  • How much of your business the investor or buyer will purchase
  • How much the buyer or investor will pay (the price of the business or of its shares)
  • The return the buyer or investor can expect to earn

Ways of valuing a business

Valuation is not an exact science, and there are different ways of valuing a business. Each of these methods is based on different assumptions and financial information, which typically results in a different value for each method. For instance, you could base a valuation on the assets of a business (how much it owns) or by taking into account projected revenues or cash flows. Investors generally prefer methods based on cash flows. It s important to know about a variety of methods because they can be useful as benchmarks to check the validity of the value and the price you determine.

Earnings and cash flow-based methods:

  • Discounted cash flow
  • Going-concern value

Discounted cash flow

From the investor s perspective, this is usually the most accurate and effective way to estimate a business value because it is based on future cash flows. These cash flow figures reflect the amount of money that is estimated to come into the business and will ultimately determine the investor s return on investment. The discounted cash flow method is used to answer three critical questions:

  • Value: How much is your business worth today, based on what it will earn in the future?
  • Rate of return: What is the buyer s or investor s expected rate of return, given the amount invested and your business financial projections?
  • Equity share: How much equity will the buyer or investor receive for their investment?

The discounted-cash-flow method is often preferred because it can be more accurate than other methods. Its accuracy and complexity are due to the fact that it:

  • Uses cash flows: It takes into account the projected ups and downs of revenue over a period of time.
  • Discounts the cash flows: It adjusts the cash flows by a rate that is acceptable to the investor to account for risk and the time the investor must wait for a return.
How it works

In this method, cash flow predictions are discounted, or reduced, to adjust for the risk the investor faces and to make up for the fact that the investor could invest their money in something else.

Investors are looking to be compensated for their risk, and their benchmark rate or “discount rate” will adjust for the value of money over time. They will choose a discount rate and compare your proposal against that rate.

Advantages and disadvantages

The discounted cash flow method allows values to be estimated even when your cash flow is fluctuating. A start-up or new venture may expect to lose money in the first years and then make money in later years. These changes in cash flow are taken into account by the discounted cash flow method.

If you use this method, keep in mind that:

  • Its accuracy depends on the accuracy of your cash flow projections. That is why your financial data and assumptions are critical.
  • It is a complex process, so you may require professional guidance.
  • It can give you detailed estimates, but it is important to remember that business valuation is not an exact science your numbers will be based on assumptions and predictions of future performance.
Value: How much is your business worth today?

Let s say financiers are considering an investment in your business, but plan to take their money out in five years. To them, your business is worth today what it can earn during those five years, plus their share of the value of the business at the end of the five years. However, future cash flow numbers and the future value of the business are unknown. The discounted cash flow method applies adjustments or “discounts” to account for those unknowns.

Using this method, the value is the total of the cash flows, adjusted or discounted, plus the value remaining (or residual value), also discounted.

Rate of return: What rate of return will the investor expect?

Investors want to calculate their rate of return. To do that they must compare the amount of the investment to the amount they will earn at the end of the investment period. But how can they know what they will earn in the future? Again, they must use the discounted cash flow projections to estimate the future value of their investment. To do so, they will need to:

  • Estimate the cash flow in the final year
  • Estimate the value of the business based on the cash flow
  • Calculate the final value of their share in the business
  • Determine their rate of return
Value, return and exit strategy

The method used to calculate values and rates of return depends on the specific exit strategy used. Commonly-used methods include going-concern value, book value, and liquidation value.

Going-concern value

The going-concern value method calculates your business value based on its capacity to produce a stream of cash flow in the future. The greater the cash flow your business generates in the future, the higher your business value today.

How it works

The going concern value, like discounted cash flow, compares the current investment to the future receipts (cash inflows). This method uses the revenues of previous years to project future revenues, and it assumes those revenues will not change.

Book Value

This value is the net worth, or shareholders equity, of your business as shown in its financial statements. At its most simplified, subtracting your liabilities from your assets will give you your business net worth or book value. Book value can be described as the historical value of an asset that, at a given time (the day it was purchased), represented the economic or market value of the asset, less its accumulated depreciation.

How it works

To determine the book value, subtract your liabilities from the value of your assets. The difference gives you your net worth or shareholders equity. In practice, book value is seldom used in the process of securing venture capital, although it can be a realistic approach to measuring a small business net worth.

Liquidation value

A liquidation value is assigned to a business being sold in order to satisfy its creditors. Tangible assets, such as land, usually have a liquidation value close to their market value. Inventories and accounts receivable, on the other hand, are usually valued at less than what is shown in the books.

How it works

To determine the liquidation value, all assets are assigned distressed values, and all debts are totalled at book value. Most assets sold under duress are discounted from their fair market value. The difference between the distressed value of the assets and the actual or book value of the liabilities is referred to as the liquidation value.

The liquidation value doesn t reflect the real worth of an asset or a business; in most cases, it is substantially less than the market and book values. This method is typically used only if a business is in serious financial trouble.

Should I seek a financial advisor for help with valuation?

Business valuation is a complex task, and a financial advisor with experience in business valuation can be an invaluable asset.

A professional valuator can:

  • Provide the experience needed to accurately determine the value of your business
  • Offer an objective view of your business worth
  • Give investors more confidence in the credibility of your valuation

Conclusion

There is a saying in the venture capital industry: “The value of a business is only what someone is willing to pay for it.” In other words, the market, and your ability to attract investors and negotiate with them will determine the value or selling price.

Remember that many factors affect the value of your business. Seeking professional assistance can help you calculate an accurate value for your business.

Learn how to determine the value of your business and find ways to increase it.

What is a fair price to pay for a business? Read this article to learn how to estimate the value of a business.

Enlist the help of an expert who can quantify the worth of all, or part, of your business or its securities.

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Small Business Franchise Opportunities Guide #bank #business #loans

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Small Business Franchise Opportunity Guide

Small business franchises come in many shapes and sizes, from nationally recognized household names to locally grown niche businesses. Choosing the right small business opportunity to invest in is an important decision that can be overwhelming, perhaps even daunting.

Franchising.com is here to help. We’ve put together the most comprehensive directory of franchises for sale anywhere on the internet. We’ve also built a reputation as the franchising industry’s leading source of news, information, data and advice for franchisors and franchisees alike. New press releases are gathered and new franchises for sale are acquired on a regular basis, meaning you get fresh, up-to-date information on the small business franchise you’re interested in.

Below you’ll find the small business franchises listed here at Franchising.com. From ATM franchises that are most profitable in high traffic areas, to check cashing franchises that are increasing in popularity as local banks are being consolidated, and vending franchises that allow entrepreneurs to be their own boss, create their own hours and become flexible with their business schedule, you’ll find all these and more below.

Start browsing the many types of small business franchises available at Franchising.com, including: kiosk franchises, distributorship franchises, atm machine franchises, vending franchises, check cashing franchises, pre-paid card franchises, and many more.

Start down the path to a new career and discover the possibilities of owning your own business with the many small business franchise opportunities you can find at Franchising.com.

Opportunity Guide

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Guide to Majors in Business Management #dog #walking #business

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Guide to Majors in Business Management

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Business management is a versatile field that offers opportunities for individuals with a variety of interests and skills. Talented business managers are in demand and may remain so as the global business environment becomes more complex.

If you get along well with people, have an interest in business and technology, and have excellent communication skills, you could be a good fit for a career in this field. The ability to think critically and a willingness to work independently are important factors in determining success in business management. In addition, an enjoyment of solving complex problems and an understanding of complicated financial data are helpful.

This guide to majors in business management will give you in-depth information about careers and degrees in business management, including what you ll learn, the expectations and requirements of a business management career, and what it may take to succeed.

What is Business Management?

Business management is the process of developing the strategies, plans, procedures and policies that guide a business on both a day-to-day and long-term basis. It involves coordinating human, financial and material resources to achieve organizational objectives.

Whether you re interested in becoming an entrepreneur and launching your own business or joining a Fortune 500 firm and starting your climb up the corporate ladder, it s imperative to start your path to your business management career with a strong educational foundation.

What Will I Learn by Obtaining a Business Management Degree?

Majoring in business management offers a broad foundation in business basics such as accounting, budgeting, marketing, planning, hiring and leadership. When pursuing an advanced degree, you may choose to specialize in any of these areas, as well as in human resources, healthcare management or computer information systems.

Working in teams is a mainstay of business management education and a valuable way to prepare for the real world. Your coursework may include accounting, finance, business law, economics, statistics, principles of management, organizational development and human relations. Through your business management classes, you ll be honing your problem solving, critical thinking, forecasting, project management and entrepreneurial abilities.

Requirements to Earn a Business Management Degree

Because business management is such a versatile career, you can choose the educational path that best prepares you to achieve your career goals.

Associate s Degree

Earning a two-year associate s degree in business administration or business management can offer opportunities to break into the business world. Advancement often requires a bachelor s degree, which can be pursued while working in the field.

Bachelor s Degree

A four-year bachelor s degree, such as a BA in Business Administration Management. may open the door to additional career options, since employers hiring for business management positions usually require a bachelor s degree at minimum. Additional education, professional certification or an advanced degree may be required to advance your career. Those interested in human resources may want to consider a Human Resources Administration minor. which could make you a stronger candidate for HR jobs.

Master s Degree

For top-level positions, employers may prefer candidates with advanced degrees. With an MBA in Management. an MBA in Marketing. or an MBA in Healthcare Management. you could be positioned to compete for senior-level jobs. An advanced degree typically takes an additional one to two years beyond the bachelor s level.

Some employers may offer tuition assistance to help you obtain a master s degree while establishing yourself in your career.

Career Opportunities in Business Management

Business management career opportunities vary in level of responsibility, salary expectations, and education and preparation required.

  • An associate s degree may qualify you for labor relations specialist, office manager or administrative specialist jobs.
  • Positions such as business analyst. account executive, HR manager and management consultant typically require a four-year degree, such as a BA in Business Administration Management.
  • You could qualify for executive-level positions, such as chief executive officer. senior management consultant, director of operations or brand manager. with an advanced degree, such as an MBA in Management or an MBA in Marketing.

Additional potential careers include management analyst, retail store manager, hospitality manager, human resources administrator and small business manager. Business management can be applied in areas such as organizational behavior, human resources, operations and strategic planning. You can work in a variety of industries, including manufacturing, medical and health, charities, hotels, government, chemical, computer and information systems, fashion, grocery, advertising and promotions, utilities and construction.

Opportunities exist in the public, private and nonprofit sectors.

With a field as varied and open-ended as business management, consider your strengths when selecting a specialization. If you enjoy dealing with people one-on-one, human resources may be a good fit. An entrepreneurial focus is suitable if you are planning on starting your own business. It is critical to research specific management roles to select a path that suits your interests.

Expectations for a Business Management Career

Business management majors can expect to see solid employment growth across a variety of industries in the coming years, according to federal projections. Potential salary ranges for business management professionals will vary according to several factors, including the specific industry, regional market conditions, and a candidate s educational qualifications and employment history.

As of May 2015, the U.S. Bureau of Labor Statistics (BLS) reported average annual wages for the following management roles nationwide:

*Please note that the hyperlinks remain updated, so the most recent salary information will be found by clicking on the job title. This information is updated every one to two years by the BLS.

Your professional responsibilities may include supervising staff, analyzing data, planning operations and making crucial business decisions. Business managers may take care of day-to-day tasks such as hiring, training, purchasing and quality control in smaller firms. For larger organizations, formulating policy, planning for resource needs, setting overall direction and implementing strategies are some of the tasks often required of business managers.

Because salaries vary depending on the specific position, as well as location, education and experience, prospective students are encouraged to conduct independent research to determine actual earning potential.

Training, Other Qualifications and Advancement in Business Management

Business management professionals need a wide variety of up-to-date business expertise to succeed and advance in their careers. Additional requirements will vary according to each individual position, but employers generally seek strong decision-making and organizational ability. Candidates for a career in business management must develop outstanding interpersonal and communication expertise, as well as creative problem-solving ability.

After obtaining work experience, an advanced degree such as an MBA or both, business professionals may advance to positions with more responsibility and higher pay. Some graduates may pursue further study in finance, human resources, marketing, international business or computing to develop their expertise in a business specialization. For instance, labor relations specialists may be promoted to human resources directors; department managers may become operations managers; management consultants may be promoted to chief financial officers. As a business management major, you could find yourself positioned for opportunities throughout your career, up to and including the executive suite.

Business Management Majors Offer Versatility and Opportunity

If you re interested in making a difference in the exciting world of business, earning a business management or business administration degree is a great place to begin. A business management major provides the broad knowledge employers need, while giving you the option to specialize in many interesting and rewarding areas.

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Harvard Business Publishing – Business Information Guide – Subject Guides at Syracuse University Libraries #business #directories

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Business Information Guide

PDF of step-by-step instructions on how to find HBR articles and case studies in Business Source Elite.

Significant reporting and analysis of management topics appear in the periodical Harvard Business Review . Syracuse University Libraries offers affiliated students, staff, and faculty full-text access to HBR articles and case studies online via the database Business Source Elite (which indexes HBR content back to 1922, with full-text article coverage from 1985 thru present).

Instructions for finding Harvard Business Review Articles Case Studies in Business Source Elite

NOTE: The case studies in HBR are short (around four pages each) and should not be confused with the premium Harvard Business Publishing case studies noted on this page under Harvard Case Studies.

Harvard Business Review 500
At the request of Harvard Business Publishing, EBSCO has made 500 of the most popular Harvard Business Review articles read only by disabling the printing, saving, and persistent linking functionality for these articles in Business Source Elite. All Business Source Elite subscribers (including SU Libraries) were offered the option to restore this basic functionality by paying an additional annual premium fee. When Syracuse University Libraries requested a quote from EBSCO to restore full access to the 500 HBR articles, we were presented with a significant five figure amount. SU Libraries is disinclined to pursue the option to restore full access to the HBR 500 by paying this premium. Not only is the price per article exorbitant, but more importantly, agreeing to such a fee in order to restore access to content for which we have already paid. could set a terrible precedent.

What matters and what we wish to emphasize is that, if HBP s new model catches on, having to essentially pay twice (or multiple times) for the same online content will erode the Libraries ability to provide other resources to the SU research community. In short, it s a zero-sum game when it comes to Libraries acquisitions that support research, and this development further adds to the costs of supporting scholarship. In declining to license with HBP under the proffered terms, the SU Libraries goal is to protect our ability to support research at SU to our utmost. While that may sound contradictory, at least in the short-term, in the long-term it most assuredly is not. To learn more about this, please see the blog post titled SU Libraries Stance on Restricted HBR Articles .

Harvard Business Review in Print

Print editions of the Harvard Business Review from 1922 to the present are available in Syracuse University Libraries’ print collection.

Harvard Case Studies

Harvard Business Publishing case studies cover all areas of management, business planning, marketing, accounting, finance, organizational behavior, entrepreneurship and more. The case studies range from 10 to 30 pages in length and often include an author provided guide, called a teaching note, on how to teach the case in the classroom.

These case studies should not be confused with the short case studies published in the Harvard Business Review and available in full text via SU Libraries’ database Business Source Elite.

Access to the Harvard Business Publishing case studies requires individual purchase of cases, including purchase of copyright permission in situations where multiple copies are desired. Harvard does not offer institutional subscriptions that permit an academic library to subscribe to these case studies.

  • Students and faculty visiting the HBP site can freely search and browse topics to identify case studies of interest
  • Access to the full-text case study PDFs requires individual purchase (often priced between $5 and $10 per case)
  • Options for student access to cases selected by faculty are available under a coursepack style access model (in some instances, students enrolled in such courses can receive purchase discounts on cases their faculty identify)
  • S.U. faculty interested in access (for themselves or their students) should explore detailed information about applying for Harvard Business Publishing’s Case Study “Educator Access”




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The Beginner – s Guide to Different Types of Business Degrees #startup #business #ideas

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The Beginner s Guide to Different Types of Business Degrees

Take a look around your home. Nearly every item you own has an entire industry based around it, and each of those industries has multiple business functions within them. Because of this complexity, there is a huge variety in the different types of business degrees available to you.

With so many specializations within business degree programs, it can be a bit daunting when trying to decide which best fits your interests or career aspirations. To help you decipher the diversity, we broke down a list of some of the most common types of business degrees, the courses to expect and some examples of the jobs you can do with them.

Keep reading to get acclimated with 15 facets of the business field and start to get a feel for which area appeals to you.

15 Types of business degrees to consider

Accounting

Overview. Love numbers? Have an eye for detail? When studying accounting you will develop your understanding of generally accepted accounting principles, tax law, the process of managing financial documents and how it impacts business operations. The accounting field has several potential career paths and this degree will equip you to pursue different types of accounting, audit or tax-related positions within a variety of organizations.

COMMON COURSE SUBJECTS:

Advertising

Overview. Think you have the creativity to develop an ad that cuts through the clutter and sticks in the mind of a potential customer? With an advertising degree you ll learn how to make a message stand out from the crowd by learning about what makes an audience tick and how to best reach them. This is a great choice if you re looking for a way to leverage your creative ability in the world business.

COMMON COURSE SUBJECTS:

POTENTIAL JOB TITLES:

Business management

Overview: There s a lot to learn about managing a business or department. A business management degree will give you a solid comprehensive foundation in important business areas like accounting, sales, operations and organizational leadership. You ll also be better equipped to manage and lead a team of people, which is beneficial if you have hopes of advancing your career into leadership positions.

COMMON COURSE SUBJECTS:

POTENTIAL JOB TITLES:

Economics

Overview. If you choose to study economics, you can expect to learn about economic principles and theory, including the use of math and data analysis. An economics degree can help prepare you for analyzing and forecasting economic trends in order to improve business operations and performance.

COMMON COURSE SUBJECTS:

POTENTIAL JOB TITLES:

Entrepreneurship

Overview. If you want to start, build and manage a business of your own, an entrepreneurship degree can help you to develop the necessary skills to succeed. However, don t be fooled into thinking this degree is only for aspiring business owners. Most of the principles and courses can be applied in any business setting.

COMMON COURSE SUBJECTS:

POTENTIAL JOB TITLES:

Finance

Overview. If you choose to study finance. you ll learn a broad range of concepts and skills including financial analysis, economics, statistics and portfolio management. Majoring in finance will help you pursue opportunities in finance sectors as well as accounting or investment areas.

COMMON COURSE SUBJECTS:

POTENTIAL JOB TITLES:

Healthcare management

Overview. It takes a lot of business acumen to keep a healthcare facility running smoothly and profitably. This major prepares you for providing business management leadership strategies designed to address the unique challenges and intricacies within the growing healthcare industry. You will learn about many of the proven management techniques with a focus on the nuances found within the healthcare industry.

COMMON COURSE SUBJECTS:

POTENTIAL JOB TITLES:

Health services manager

Patient care associate

Hospitality management

Overview. If you have a passion for working with people and a knack for making sure everyone is taken care of, then a hospitality management degree may be right for you. Hotels, event venues and other similar establishments have unique management needs that are different than other businesses. Utilizing a variety of management and communications skills is important for making sure operations run smoothly and guests leave happy.

COMMON COURSE SUBJECTS:

Human resources

Overview. This field is all about people. Whether it s helping employees with navigating benefits enrollment or helping secure the top talent needed for business growth, this field relies on impeccable interpersonal skills. With a human resources (HR) degree. you will learn the skills necessary for managing business and labor practices in addition to learning about organizational development, resources planning and training.

COMMON COURSE SUBJECTS:

POTENTIAL JOB TITLES:

International business

Overview. International business focuses on you guessed it global business organizations. Multinational corporations need employees who are well-suited to deal with the unique challenges presented by doing business across multiple countries.

COMMON COURSE SUBJECTS:

POTENTIAL JOB TITLES:

Supply chain analyst

Business development specialist

Marketing

Overview. Want to help grow and maintain a business by attracting and retaining customers? This is a great option. By majoring in marketing. you ll be focused on learning the fundamentals of areas such as market research, communication and marketing strategies. The marketing department of a business helps accomplish tasks such as product promotion or consumer research in order to achieve business goals like increasing sales, building brand awareness and improving customer retention.

COMMON COURSE SUBJECTS:

Statistics

Overview. We live in an era where more data is being collected by businesses than ever before. But what good is that data if there s no one around to collect, organize and make sense of it all? Statisticians are trained in the collection, organization, analysis and interpretation of numbered data sets. They use these skills to help improve the decision-making ability of businesses by uncovering and planning for trends or patterns on which to act.

COMMON COURSE SUBJECTS:

POTENTIAL JOB TITLES:

Supply chain management

Overview: Ever wonder how the products you order online ends up on your doorstep within days? To steal a line from UPS: That s logistics! A supply chain management degree will prepare you to handle the intricacies of managing a global supply chain (and all of the moving parts that come with it) to ensure a business operations are running efficiently.

COMMON COURSE SUBJECTS:

POTENTIAL JOB TITLES:

Supply chain risk

Choose your business career path

Now that you have a better understanding of the different types of business degrees and the career opportunities associated with each, it s time for you to do some self-evaluation. Do any of the specializations above match your skills and interests? Going forward, your best bet is to find a few areas that appeal to you and dig deeper to learn more about the ins and outs of each focus-area.

For more information about specific business-related career fields, download theBusiness Career Outlook guide.

AUTHOR S NOTE: This article was originally published in October 2013. It has since been updated to include information relevant to 2016.

External links provided on Rasmussen.edu are for reference only. Rasmussen College does not guarantee, approve, control, or specifically endorse the information or products available on websites linked to, and is not endorsed by website owners, authors and/or organizations referenced.

Will is a Content Marketing Specialist at Collegis Education. He researches and writes student-focused articles on a variety of topics for Rasmussen College. He is passionate about learning and enjoys writing engaging content to help current and future students on their path to a rewarding education.

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Financing a business guide #sba #lenders

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Financing a business guide

Table of contents

Business planning

Securing financial assistance to start your new business is directly related to the strength of your business plan and the research that you do. To be considered for funding from financial institutions or investors, you must demonstrate that you understand every aspect of your business, and its ability to generate profit.

What is a business plan?

A business plan is a written document that describes your business objectives and strategies, your financial forecasts, and the market you are targeting. Preparing your plan will help you focus on how to run your new business with the best chance for success.

For copies of sample business plans call us at:
1-888-576-4444

Market research

To run a successful business it is helpful to know who your customers are, what they want and how to reach them. You can go directly to your customers for answers (primary market research), or you can use information that already exists (secondary market research).

CBO can help you with your secondary market research. Contact us directly for:

  • information about business associations, manufacturers, suppliers and competitors
  • articles about consumer, business and industry trends
  • Canadian consumer spending statistics and demographic data for market research
  • sample business plans
  • international trade data

The secondary market research service is offered free of charge and is available for people at any stage of business in Ontario.

Note: Research requests may take up to seven business days to complete.

Business advisory services

Find information about Ontario’s small business community, attend seminars, and access business publications at various in-person locations across Ontario.

Services vary based on regional needs, so we suggest you call ahead or visit your local office s website for more detailed information for your area.

Financing programs

There are many different ways to finance your business. Canada Business can help you find government programs that are available in Ontario.

Common sources of business financing include:

The Canada Small Business Financing Program (CSBFP)

By sharing the risk with your financial institution, the CSBFP may help you get up to $1 million to start, expand, modernize or improve your small business. To be eligible your business should have annual gross revenues of no more than $10 million.

You can use the loan to finance the cost of purchasing or improving fixed assets. For example, you could finance:

  • buildings and land
  • commercial vehicles
  • business equipment
  • leasehold improvements for a franchise

You cannot use the loan to finance items such as:

  • working capital
  • inventories
  • franchise fees
  • research and development

To apply for this program, contact an approved bank, caisse populaire or credit union. The lending institution has the final say on the loan approval.

The Business Development Bank of Canada (BDC)

If you can demonstrate that your business has realistic sales potential, you may be eligible for financing and management services from the BDC, Canada s bank for business. Learn about a variety of programs for business, including:

Ontario Community Futures Development Corporations (CFDCs)

You may be eligible for a loan of up to $150,000 to start or grow your business in Northern Ontario or in rural areas of Southern and Eastern Ontario. CFDCs provide financing to help new or existing businesses with start-up, expansion or stabilization plans that help maintain or create jobs. You can also take advantage of several business support services, including:

  • business advice, counselling, information and referrals
  • business planning
  • export support
  • entrepreneurial training

Please note that services vary based on regional needs. We suggest you call ahead or visit your local office s website for more detailed information for your area.

Futurpreneur Canada Start-Up Program

You may be eligible for a loan of up to $15,000 from Futurpreneur Canada.

To be eligible, you should:

  • Be between the ages of 18 to 34
  • Create a business plan for a business that will employ you full time
  • Work with a mentor for two years
  • Own at least 51% of your business

If you are approved for funding from Futurpreneur Canada, you may also be eligible for additional funding of up to $30,000 through a special partnership with the Business Development Bank of Canada (BDC).

For more information or to apply for the loan, visit the Futurpreneur Canada website or call them to find the nearest office.

For applicants aged 35 to 39, you can also apply through Futurpreneur Canada and work with one of their mentors, but your financing terms and conditions are from BDC for a maximum loan of $45,000.

Financing search tools

To search for other financing programs, visit the Canada Business website. There are programs that apply only to businesses in Ontario, and others that are available across Canada. Use the search tool or browse by type of financing.

Municipal business programs

Your local municipal office may offer financing and support for your area. You can find the number for your municipality on the Association of Municipalities of Ontario website. Contact them directly to find out what is available in your area.

You can also find books, magazines and other relevant print material at business service organizations in your community. To locate a Canada Business Ontario (CBO) community partner, contact us at 1-888-576-4444 .

Supplemental content

Related Topics

Business planning FAQs Find the answers to questions often asked about preparing a business plan. Sources of private sector financing Find out about the debt and equity financing available from the private sector for your business needs. Financing from non-government organizations There may be not-for-profit or community-based organizations that can offer you financing or direct you towards financing.

Date modified: 2016-01-28





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Communications Guide: How to Improve Your Communication Skills #business #from #home

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A Crash Course in Communication Need a quick refresher on effective interpersonal interaction? Two communication experts offer 12 steps to smoother conversations. Lost in Translation Thanks to e-mail, BlackBerrys, and text messaging, the face-to-face encounter is becoming a dying art. Here’s why you should revive it. The Power of Listening How does an old-line manufacturer in a stagnant industry manage to grow 25% a year for 10 years? By taking its employees seriously. Do as I Say: Quick Tips for Masterful Communication Tired of doing all the talking and not having your message get through to your staff? Try these suggestions to improve your leadership communication skills. Just Listen to Yourself Tape yourself to better understand your communications style. Powerful Questions Can Have a Powerful Effect Questions can be one of the most effective communication tools available to us. Do you use questions enough in your day-to-day interactions? When Do You Lie? Strategies For More Authentic, Respectful Communication Lies come in all shapes, sizes and colors. (Ever heard of flat-out, teensy or white lies?) This article focuses on when it’s appropriate, if at all, to lie. 10 Tips for Communicating Change Transition is inevitable, but exactly what you say and how you say it can make a major impact on how change is handled in your company. How to Motivate Employees Kevin Plank, founder of Under Armour, says it is vital to maintain regular face-to-face communication with employees even as a company expands. The 4-1-1 On Constructive Criticism Being critical is easy, and offering criticism seems easier still. Yet constructive criticism – – the more refined and effective brand of critical feedback – – is like an art. Lost in the Translation Tips on communicating with employees who don’t speak English.
How to Say You’re Sorry Apologizing is part of doing business. But do it wrong, and you’ll really be sorry. Tips on Becoming a Good Conversationalist In this excerpt from How to Work a Room: The Ultimate Guide to Savvy Socializing in Person and Online learn tips for becoming a talk target — someone with whom it is easy to make conversation.
10 Tips for Successful Networking Keith Ferrazzi needs two PalmPilots to keep track of all his contacts, people like Bill Clinton and Michael Milken. But there’s far more to cracking the inner circle of the power elite than just taking names.

Powerful Presentations Small-business columnist Rhonda Abrams shares nine strategies for giving powerful presentations. Reinventing the PowerPoint New tech tools to liven your tired old PowerPoint presentations–and give your online marketing efforts a boost. Perfecting Your Pitch Check out these tips from entrepreneurs and business experts on creating pitches that can help you raise capital. More Power Than Point PowerPoint (or “presentation software”) has become the lingua franca of American business. It’s also become the problem with American business. Best of the Net: Power Brokers When it comes to presentation software, most users agree there’s one clear standard. We’ve found some Web-based resources to help you make your point. Captivate Audiences with Powerful Presentations Do you want your speeches to pack a punch? Professional speaker and speech consultant Patricia Fripp offers ideas on humor, movement, and vocal techniques. Short and Sweet: Mastering Quick Presentations Called on to make a brief speech? Professional speaker and speech coach Patricia Fripp offers tips for saying what you want, short and sweet. Present Before You Propose Improve your presentation by saving handouts until the end. Finding the Perfect Pitch Watch three rookies gear up for the investor presentation of a lifetime. The Seven Habits of Highly Effective Presenters Entrepreneurs learn pretty quickly that making a verbal pitch to investors is very different from submitting a written business plan. Here are seven good practices gleaned from a venture-capital boot camp. Elements of a Winning Pitch A presentation to potential investors in your business — to family, friends, or angels — should include most of these elements.

Escape From Meeting Hell It’s time for another soul-sapping, oxygen-depriving, time-wasting, mind-numbing company meeting. Or is it? We offer 15 clever solutions to the problems with most meetings. Meetings Go Virtual Web conferencing and other collaboration technologies — tools that help people work with one another through their computers — have become more available and affordable. This is a boon for smaller companies whose only previous collaboration option was to gather workers in a room with coffee, donuts and a whiteboard. Meetings 101: Was That a Good Meeting, or a Bad One? Five simple factors that help ensure every meeting is a good meeting. Tools for Boosting Communication Effectiveness Tips on how to boost the effectiveness of communication in meetings, during change initiatives, and in interviews. Advice on Getting the Most Out of Meetings Keith Lamb shares some advice on getting the most out of your meetings. Cure the Sick-Meeting Ills Ineffective meetings may be wasting time and lowering morale. Two communication experts offer seven strategies for dramatically improving your meetings. How to Manage Meetings More Effectively A look at companies that hold unique meetings for developing products, building camaraderie, generating ideas, and reviewing employees’ needs and achievements.

Writing and Organizing a Winning Speech Public speaker and speech consultant Patricia Fripp suggests following one of two basic outlines for your speech. She also offers speechwriting tips. Polishing and Rehearsing for a Perfect Presentation You’ve written a speech, but there’s still work to do before delivering it. Patricia Fripp gives six suggestions for making sure your speech hits home along with several ideas on effective rehearsing. Deliver a Stellar Speech Powerful presentations happen when you check out the room in advance and work to connect with the audience when talking. Patricia Fripp offers ideas for ensuring that what you say is a smashing success. No More Pre-Speech Jitters From virtual reality therapy to positive visualization, we’ve got relaxation techniques to help offset your fears of public speaking. Free Speech Preparing for a big speech? Resources on the Web can help.

Work through Writer’s Block Need help working through some written projects? Two communication experts offer eight tips for clear and effective writing. Writing Well on the Web Content is king. Here are easy ways to make your website more reader-friendly. Polish Your Prose Poor grammar and punctuation in proposals and reports could cost you business. How to Blog The trick, say experts and longtime bloggers, is restraint. “For marketers, it’s about being more authentic, which is so ironic,” says one analyst.
How to Drive Traffic to Your Company’s Blog Driving traffic to your small business’ corporate blog takes equal parts old-fashioned marketing and contemporary Web tools.

Troubleshooting

Are You Assertive or Aggressive? Assertiveness is the skill that tops the list for success or failure in any workplace situation. Learn how to be more assertive — not aggressive — and apply it to your interactions. Get Your Point Across without Being Rude Is your communication style a little rough around the edges? Here are five techniques for saying what you mean without making enemies in the process. Communicating When People Leave You Speechless Improved communication is a nice idea, but can it work in the real world? Take a look at these real-life business issues and suggestions for better communication that may lead to better business.





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Gear, Software – Other Products Guide – Photography Concentrate #business #promotional #items

#photography business

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Gear, Software Other Products Guide

A photographer needs a camera. But which one will work best for what you hope to achieve? And how about all of those software and app options that will help take your photos to the next level, and keep your business organized and efficient. And then there are the scanners, printers and photobooks that ll take your photos off the screen and put them into the hands of you and your clients. Across the board, there are an overwhelming number of options. Finding the right ones can make your head spin!

Well, the good news is that the tools don t matter nearly as much as the photographer. What really makes for great photos is you! But you still need some equipment to get you there, so check out thesearticles to help make gear, software and printing decisions a little simpler!

Gear

If you’re looking to learn how to take control over your camera, check out our tutorial Extremely Essential Camera Skills. It mixes text, video, illustrations and sample photos to help you get confident with your camera, super fast!

Software Apps

Need some help finding your way around Lightroom? Check out our tutorial, Super Photo Editing Skills. which uses video to show you how to navigate Lightroom 4, easily. Awesome!

Albums, Printers Scanners

Looking to sharpen your album design skills? Check out our tutorial, Awesome Album Design Skills. which uses videos and handy guides to teach you all you need to know to create beautiful albums in InDesign.

FREE Lightroom Presets! Yes!

Want to see how quick and easy it is to make stunning edits to your photos using Lightroom? Sign up for our free club and you’ll get a ton of high quality presets, totally free. Put your email in the form below and let’s get started!

About Rob + Lauren

We are two photographers who are obsessed with the magic of photography. We like it so much, in fact, that we want to help other people do it, so they can be super happy too.

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How To Start a Cleaning Business: Quick Start Guide (updated for 2016) #business #intelligence #software

#cleaning business

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How to Start a Cleaning Business
(free quick-start guide)

A cleaning business can be extremely profitable, rewarding and flexible. The start-up costs are low, demand for cleaning services is increasing, and profit margins can be high.

In fact, there are many six and seven figure cleaning businesses operating in Australia today, and most of these businesses were created from nothing by someone in exactly the same position as you are today!

In this FREE guide, we ll show you how to replicate their success, get started quickly, and avoid the mistakes most businesses make.

Ready to learn how to start a cleaning business? Let s jump straight in

Step 1: What Type of Cleaning Business Should You Start?

Start with just one or two core services, and add more as you grow. This will keep things simple, help reduce your start-up costs (you only have to purchase one set of equipment and/or products) give you time to refine your systems and processes.

As you expand your business, you can add additional and complementary services quite easily and quickly.

Resist the temptation to be everything to everyone; remember specialists can charge more than generalists!

Questions to ask before starting your cleaning business

When choosing the services your business will provide, consider the following:

  • What are the training / licensing requirements (or recommendations)?
  • How much will professional grade equipment / cleaning products cost?
  • What interests you the most?
  • What is the demand for the service?
  • What is the lifetime value of a customer?

For many people, providing a domestic cleaning service is the ideal place to start. Start-up costs are very low, and demand is increasing every year as people look to outsource their home cleaning.

All you need to get started are some professional cleaning products, a few low-cost pieces of equipment public liability insurance and you are in business!

Because the start-up costs are low, it does mean that there can be more competition; however, if you follow our marketing tips you ll never have to worry about the competition!

If you wish to offer a more skilled niche cleaning service, you ll need to be willing to invest more money to purchase equipment, and time to acquire the necessary skills and qualifications.

For example, in order to start a professional carpet cleaning company you ll need a high quality portable or truck-mounted carpet cleaning machine (which will cost at least $10,000 and up to $100,000).

The higher investment costs does mean competition is lower and you can demand higher prices, which is why we recommend adding on these additional services once you have established your business ( have existing customers to sell to!).

Step 2: Start Your Own Business or Buy a Franchise?

There are advantages and disadvantages to both options. and at the end of the day it comes down to your personal preference and individual situation.

Start your own business and enjoy the freedom to create a business that meets your own financial and lifestyle goals (but make sure you get the right help support along the way!).





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Guide to Majors in Business Management #business #planning #software

#business management degree

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Guide to Majors in Business Management

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Business management is a versatile field that offers opportunities for individuals with a variety of interests and skills. Talented business managers are in demand and may remain so as the global business environment becomes more complex.

If you get along well with people, have an interest in business and technology, and have excellent communication skills, you could be a good fit for a career in this field. The ability to think critically and a willingness to work independently are important factors in determining success in business management. In addition, an enjoyment of solving complex problems and an understanding of complicated financial data are helpful.

This guide to majors in business management will give you in-depth information about careers and degrees in business management, including what you ll learn, the expectations and requirements of a business management career, and what it may take to succeed.

What is Business Management?

Business management is the process of developing the strategies, plans, procedures and policies that guide a business on both a day-to-day and long-term basis. It involves coordinating human, financial and material resources to achieve organizational objectives.

Whether you re interested in becoming an entrepreneur and launching your own business or joining a Fortune 500 firm and starting your climb up the corporate ladder, it s imperative to start your path to your business management career with a strong educational foundation.

What Will I Learn by Obtaining a Business Management Degree?

Majoring in business management offers a broad foundation in business basics such as accounting, budgeting, marketing, planning, hiring and leadership. When pursuing an advanced degree, you may choose to specialize in any of these areas, as well as in human resources, healthcare management or computer information systems.

Working in teams is a mainstay of business management education and a valuable way to prepare for the real world. Your coursework may include accounting, finance, business law, economics, statistics, principles of management, organizational development and human relations. Through your business management classes, you ll be honing your problem solving, critical thinking, forecasting, project management and entrepreneurial abilities.

Requirements to Earn a Business Management Degree

Because business management is such a versatile career, you can choose the educational path that best prepares you to achieve your career goals.

Associate s Degree

Earning a two-year associate s degree in business administration or business management can offer opportunities to break into the business world. Advancement often requires a bachelor s degree, which can be pursued while working in the field.

Bachelor s Degree

A four-year bachelor s degree, such as a BA in Business Administration Management. may open the door to additional career options, since employers hiring for business management positions usually require a bachelor s degree at minimum. Additional education, professional certification or an advanced degree may be required to advance your career. Those interested in human resources may want to consider a Human Resources Administration minor. which could make you a stronger candidate for HR jobs.

Master s Degree

For top-level positions, employers may prefer candidates with advanced degrees. With an MBA in Management. an MBA in Marketing. or an MBA in Healthcare Management. you could be positioned to compete for senior-level jobs. An advanced degree typically takes an additional one to two years beyond the bachelor s level.

Some employers may offer tuition assistance to help you obtain a master s degree while establishing yourself in your career.

Career Opportunities in Business Management

Business management career opportunities vary in level of responsibility, salary expectations, and education and preparation required.

  • An associate s degree may qualify you for labor relations specialist, office manager or administrative specialist jobs.
  • Positions such as business analyst. account executive, HR manager and management consultant typically require a four-year degree, such as a BA in Business Administration Management.
  • You could qualify for executive-level positions, such as chief executive officer. senior management consultant, director of operations or brand manager. with an advanced degree, such as an MBA in Management or an MBA in Marketing.

Additional potential careers include management analyst, retail store manager, hospitality manager, human resources administrator and small business manager. Business management can be applied in areas such as organizational behavior, human resources, operations and strategic planning. You can work in a variety of industries, including manufacturing, medical and health, charities, hotels, government, chemical, computer and information systems, fashion, grocery, advertising and promotions, utilities and construction.

Opportunities exist in the public, private and nonprofit sectors.

With a field as varied and open-ended as business management, consider your strengths when selecting a specialization. If you enjoy dealing with people one-on-one, human resources may be a good fit. An entrepreneurial focus is suitable if you are planning on starting your own business. It is critical to research specific management roles to select a path that suits your interests.

Expectations for a Business Management Career

Business management majors can expect to see solid employment growth across a variety of industries in the coming years, according to federal projections. Potential salary ranges for business management professionals will vary according to several factors, including the specific industry, regional market conditions, and a candidate s educational qualifications and employment history.

As of May 2015, the U.S. Bureau of Labor Statistics (BLS) reported average annual wages for the following management roles nationwide:

*Please note that the hyperlinks remain updated, so the most recent salary information will be found by clicking on the job title. This information is updated every one to two years by the BLS.

Your professional responsibilities may include supervising staff, analyzing data, planning operations and making crucial business decisions. Business managers may take care of day-to-day tasks such as hiring, training, purchasing and quality control in smaller firms. For larger organizations, formulating policy, planning for resource needs, setting overall direction and implementing strategies are some of the tasks often required of business managers.

Because salaries vary depending on the specific position, as well as location, education and experience, prospective students are encouraged to conduct independent research to determine actual earning potential.

Training, Other Qualifications and Advancement in Business Management

Business management professionals need a wide variety of up-to-date business expertise to succeed and advance in their careers. Additional requirements will vary according to each individual position, but employers generally seek strong decision-making and organizational ability. Candidates for a career in business management must develop outstanding interpersonal and communication expertise, as well as creative problem-solving ability.

After obtaining work experience, an advanced degree such as an MBA or both, business professionals may advance to positions with more responsibility and higher pay. Some graduates may pursue further study in finance, human resources, marketing, international business or computing to develop their expertise in a business specialization. For instance, labor relations specialists may be promoted to human resources directors; department managers may become operations managers; management consultants may be promoted to chief financial officers. As a business management major, you could find yourself positioned for opportunities throughout your career, up to and including the executive suite.

Business Management Majors Offer Versatility and Opportunity

If you re interested in making a difference in the exciting world of business, earning a business management or business administration degree is a great place to begin. A business management major provides the broad knowledge employers need, while giving you the option to specialize in many interesting and rewarding areas.

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