Tag: Small

Advice and ideas for UK small businesses, small business website.#Small #business #website


small business website

At Small Business Grants, we are pleased to reveal the shortlist of six companies to be considered by our panel

UK businesses for sale: A review of what’s on the market

In this piece in association with BusinessesForSale.com, we look at a selection of exciting UK businesses for

Can you have a Silicon Valley office on an SME budget?

When we think about great office spaces, we often think of Google, Facebook, AirBnB, Apple, and various other tech giants.

British Small Business Awards 2017: The winners

It was a pleasure to welcome our guests to the second annual British Small Business Awards at the Grand Connaught

Women will effectively work for free for the rest of 2017

Consider this: if someone asked you to continue doing your job for free until the end of the year, would

Entrepreneurial Brits: 80 per cent want start their own business

There were 644,750 company incorporations in the UK in the twelve months to 31 March 2017 and with the popularity

Small businesses in the UK worth an average of £90,000

The average UK small business is worth £90,000 in 2017 – down £4,000 on 2016 – according to research by

Ca-nine to five: One in five British workplaces allow pets in the office

According to new research, one-fifth of British workplaces now allow employees to bring pets into the office, yet a similar

Lessons learnt from the Ryanair flights crisis

In this SmallBusiness monthly series of ‘Lessons Learnt’, Jennifer Janson, author of The Reputation Playbook and chairman of

Gender savings gap: Half of female workers unprepared for retirement

More than half of female employees admit to feeling financially unprepared for their retirement, as evidence emerges of a gender

Choosing the right supplier

How can small businesses scope out the best suppliers? The first step in supplier selection is understanding your customer needs

Generation Z poses new challenges for online fashion retailers

The latest generation to hit the shops in earnest has very different expectations from their parents, online research commissioned by

Businesses and employees demand protection for gig workers

Businesses and employees are calling on the UK government to provide more protection for those who work in the gig

Your first website: Stock vanilla or bells & whistles

How complex does your first business website need to be? Do you need to pay

The Vitesse Network

Further Information

Small business website WordPress Development Agency London & Guildford

Vitesse Media Plc, 14 Bonhill Street, London EC2A 4BX T. 0207 250 7010


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5 Accounting Mistakes that Put Your Business at Risk, FreshBooks Blog, small business accounting.#Small

5 Accounting Mistakes that Put Your Business at Risk

October 24, 2013

Small business accounting Small business accounting Small business accounting Small business accounting Small business accounting

Accounting mistakes can impede the growth of your small business and put it on shaky ground. Unfortunately, mistakes are all too common, especially for new or young businesses.

In this roundup, five accounting experts from the FreshBooks Accountant Network share the most common accounting mistakes they see from small business owners. They also provide insight on how to avoid making these bad-for-business bloopers yourself.

Small business accounting

Mistake #1: Not Staying on Top of Receivables

Getting paid is always an exciting part of running a business. What isn’t as exciting however, is keeping track of your receivables.

When you issue an invoice, a receivable is recorded—meaning that a customer owes you money. Checking your receivable listing you’ll see that customer’s balance as outstanding. As soon as you receive payment from that customer, it should be applied against the invoice to mark it as paid. In practice however, this is easier said than done, and customer deposits are often left to reconcile later on since there’s never enough time in a day.

At tax time you’re left with a bunch of customer deposits sitting in your revenue account and a receivables report that doesn’t make sense. The consequences? Hours wasted updating the receivables listing, overpaying on your taxes, and high bad debts. Making it a point to follow up on your receivables—and apply payments to invoices on a monthly basis—can save you tons of resources in the long run.

Want to skip out on the manual updating of invoices as paid? Consider using a combination of cloud accounting software and accepting online payments, since this process will automate your receivables process, helping you get paid faster and sleep easy at night.

Small business accounting

Mistake #2: Not Keeping Expense Receipts

Many business owners fail to save copies of business expense receipts, which can result in a series of tax, accounting, and cash flow problems. How many times have you looked at your bank account statement and had no clue what that $100 charge is? Is it supplies, a business meal, equipment—or is it a personal expense you accidentally paid for using your business card? Not having an actual receipt that can give you details about the charge can result in incorrectly reported tax expenses and a high tax bill if you re ever audited.

How can you correct your receipts problem? Save a receipt of every business purchase. That process may seem very cumbersome, so here are a few tips to make it easier and less time-consuming: only use your business bank or credit card to pay for business expenses; have an envelope in your bag/car where you can put all your receipts instead of putting them in your pocket, purse, or worse, trash can; once a week/month go through the receipts stored in the envelope and file them to your tax folder or save digital copies in the cloud.

Or better yet, add these expenses while you re on the go. FreshBooks has a very helpful feature I personally use that allows you to add your expenses and even attach digital copies of the receipt from anywhere you are—your desktop or your mobile device. See: invoice vs receipt

Small business accounting

Mistake #3: Not Recording Cash Expenses

“It is crucial for entrepreneurs to track all expenses related to running a small business so these costs can be subtracted from total income at tax time and to keep a better sense of overall profitability throughout the year. While credit cards, debit cards, and checks from your business s bank account are easily linked into FreshBooks, it s easy to overlook expenses paid in cash. Most commonly, some of these expenses are not recorded and thus forgotten—causing the business owner to overstate income for the year! Be sure to develop a method for tracking these cash expenditures. Ask for a receipt from the vendor to enter into FreshBooks when you return to the office or log the expense immediately using the FreshBooks app on your smart phone.”

Small business accounting

Mistake #4: Not Hiring a Professional to Handle Taxes

Small business owners often try to save money by doing their own taxes. In reality, not hiring a professional can cost big bucks down the road. You may not claim all the deductions you qualify for, or you might underpay your tax bill—leading to penalties and other fees.

Spending the money to hire a professional means you’ll have an expert who knows what they’re doing, and can apply the right tactics for your financial situation. They can keep updated on the ever-changing tax laws and help you plan ahead for potential tax hikes.

Paying for a professional bookkeeper can also help keep your costs of an accountant at a minimum, since they do all the prep work. Plus having another pair of eyes is never a bad thing, especially when it comes to finances and taxes. The success of your small business depends on the accuracy and organization of your financial paperwork.

Small business accounting

Mistake #5: Not Getting on the Same Wavelength as Your Accountant

So, you re sitting there with your accountant, in a fancy office, listening to this: EBITDA is strong, way up from last year. You shift in your seat. You nod. It continues, Add in D A, and your bottom line is still positive. And here s the kicker, thanks to loss carry forwards, tax liability is nil.

It s the bane of many small business owners. Not so much the part about meeting with professionals who love spouting jargon and buzzwords. No, that s not the problem. The issue, actually, is that most small business owners are too shy to tell their accountants that they might as well speak Romulan.

You re a small business owner. You re not a financial professional. And nowhere does it say you have to be up-to-date on all the latest accounting blather. Besides, buzzwords, jargon and fancy strategies are why you pay your accountant. Translating all that techno-talk into language you understand should be part of the package.

Think about it. Would you rather hear this? We used accelerated capital cost allowance to bring your tax liability to nil. Or this? There’s a temporary tax program that lets us completely write off all of the new computer equipment you buy. So if you need a new IT kit, buy it now cause we’ll use that cost to get your tax bill down.

Bottom line is, if you and your accountant speak the same language then she’s part of your team. She’s watching your back, and she’s providing advice you can bank on.

If you re looking to find a FreshBooks friendly accountant that understands the needs of small business, check out the FreshMap to find someone near you.

If you re an accountant helping small business clients who may benefit from using FreshBooks, join our network.

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Small business accounting

about the author

FreshBooks is the #1 accounting software in the cloud designed to make billing painless for small businesses and their teams. Today, over 10 million small businesses use FreshBooks to effortlessly send professional looking invoices, organize expenses and track their billable time.


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Government Small Business Loans, small business association loans.#Small #business #association #loans


Government Small Business Loans

Government small business loans help put your own business within reach. First there’s the quest for a decent location, then comes building a customer base, followed by all the initial hiccups of generating a cash flow before your business grows roots and gains momentum. The beginning of a business is crucial because it’s when you gain or lose market credibility. If you disappoint your customers, they may not give you a second chance. If your business gets off to a rocky start (most do), and you believe you can recover but need further financing to make this happen, you can apply for government small business loans.

For-profit lenders are reluctant to issue loans to anyone who does not have a strong credit report and financial history. That is not the case with government small business loans. Obviously, a decent credit report is important, and you will have to follow the guidelines regarding the repayment period and the interest rate set by the government, but usually the interest rates charged by government loans are lower than those you could expect in the private sector.

More about Government Small Business Loans

Government loans are typically offered through banks and credit unions that partner with the Small Business Administration (SBA). The SBA is a U.S. government body, with the motive of providing support for small businesses and entrepreneurs. For each loan authorized, a government-backed guarantee offers serious credibility, since the lender knows that even if you default, the government will pay off the balance. These loans can be applied to a number of uses, such as:

  • Purchase of new equipment, machinery, parts, supplies, etc.
  • Financing leasehold improvements
  • Commercial mortgage on buildings
  • Refinance existing debt
  • Establishing a line of credit

Government small business loans benefit both small businesses and the lending agency. For small businesses, it is beneficial because this is money capital they may not have access too. For banks, the loan’s risk is decreased due to the loan being backed by the SBA.

Different SBA Government Loans

The SBA extends financial help through various lending programs it has to offer. Some of the more popular loans are:

  • 7(a) Loan Guarantee Program: aimed primarily in helping a small business start or expand its services. The maximum size of such a loan is $5 million.
  • MicroLoan Program: mostly used for short-term purposes, such as purchase of goods, office furniture, transportation, computers, etc. The maximum amount is fixed at $50,000.
  • 504 Fixed Asset Program: featuring fixed-rate and long-term financing, these loans are aimed at applicants whose business model will benefit their community directly, either by providing jobs or bringing needed services to an underserved area. Again, the maximum amount is $5 million.
  • Disaster Assistance: under this program, loans are sanctioned to renters or homeowners with a low-interest, long-term plan for the restoration of property to its pre-disaster condition.

In most cases, maintaining a good business credit report is enough to qualify. In addition, it instills confidence not only in the lender, but also in you. There is at least one SBA office in every state in America. If you contact them regarding the startup status of your business model and plan, you can get started on a government small business loan that will give you the financing to make your dreams a reality.


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Small Business Loans for Women, small business association loans.#Small #business #association #loans


Small Business Loans for Women

In today’s changing economy, women are making a name for themselves as entrepreneurs, thanks to small business loans for women. However, the dream to own a business is just the beginning. Small businesses for women is a rapidly growing segment of the economy with increased competition. Being successful requires patience, dedication and hard work, but most importantly, the financial reserves to set the wheels in motion.

According to the National Women’s Business Council (NWBC), there were 7.8 million businesses owned by women in America in 2007. Of these, about 11.7% employ full-time workers, generating average annual receipts of over $1 million. The total revenue generated by all the women-owned businesses across the country (not considering farm-based business) has increased to $1.2 trillion. Women-owned businesses make up about 52% of all the businesses in the social and healthcare assistance arena.

Why Business Loans are Important

Starting a business requires balancing your family and/or personal budget with a new, often larger budget for your business. Procuring a small business loan is pivotal to most businesses’ success. The Small Business Administration (SBA) helps people gather the resources necessary, and guides you through the completion of the loan application. Credit unions, banks, and other legitimate lenders back the loans.

The SBA has designated different loan programs specifically for women. The Office of Women’s Business Owners (OWBO) sets out rules that are mostly the same for every loan or grant: you’ll need a good business credit report (with any of the three business reporting agencies) and a solid business plan that instills confidence in the lender. But what is life without a little risk? Some of the best companies in the world were started on shaky ground, right? True, but it’s also true that a low-risk business venture has a better chance of obtaining a coveted small business loan.

In order to help women, various organizations operate day and night, with the sole purpose of helping them realize their dreams and ambitions. Moreover, these organizations provide complete information regarding various loan programs, and how to apply for them:

Any business venture requires you to be well informed about the competition, such as the number of similar ventures established, their success-to-failure ratio, and so on. The way to convince lenders who provide small business loans for women is by showing them that you possess the drive to overcome adversity. Having that fighting spirit matters.


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Small Business Investor Alliance, small business investment company.#Small #business #investment #company


small business investment company

Small business investment company

Small business investment company

Small business investment company

Small business investment company

Small business investment company

Welcome!

The Small Business Investor Alliance ( “SBIA”) is the premier organization of lower middle market private equity funds and investors . Our members provide vital capital to small and medium sized businesses nationwide, resulting in economic growth and job creation. The SBIA’s mission is to provide member funds and LPs:

• Real advocacy power with federal regulators and on Capitol Hill

• Access to exceptional networking opportunities

• Continuing educational programs with an emphasis on best practices for the industry

SBIA has been playing a pivotal role in promoting the growth and vitality of the industry for more than 50 years. SBIA works on behalf of its members as a tireless advocate for appropriate regulation and smart tax policy that promotes domestic investment and the growth of small businesses that fuel the American economy.

Small business investment company

T he SBIA Capital Formation Agenda: Legislative Recommendations for

Members of the 114th Congress. These legislative recommendations,

when enacted into law, will provide the essential means to increasing

capital to small businesses.

Small business investment company T he SBIA BDC Modernization Agenda: Legislative Recommendations

for Members of the 115th Congress.

The SBIA Private Equity Directory

Small business investment company


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What is a Small Business Investment Company, small business investment company.#Small #business #investment #company


What is a Small Business Investment Company (SBIC)?

Small business investment company

Small Business Investment Company (SBIC)

A small business investment company is a private lending company which is licensed and regulated by the Small Business Administration (SBA). SBIC s offer venture capital financing to higher-risk small businesses, and SBIC loans are guaranteed by the SBA.An added advantage of SBIC s for small businesses is that, in addition to funding small business growth and more jobs, SBIC s offer management expertise and assistance to companies.

SBICs use a combination of funds raised from private sources and money raised through the use of SBA guarantees to make equity and capital investments in small businesses.

At the end of FY 2011, SBA had over $8.2 billion invested in 299 funds. Together with private capital of approximately $8.8 billion, the program totals over $17 billion in capital resources dedicated to America’s entrepreneurs.

The mission of the SBIC program is:

stimulating and supplementing the flow of private equity capital and long term loan funds for the sound financing, growth, expansion and modernization of small business operations while insuring the maximum participation of private financing sources

Qualifying for SBIC financing

To qualify for financing from an SBIC your business must meet the following criteria:

  • You must be a small business as defined by the SBA: businesses with tangible net worth of less than $18 million AND an average of $6 million in net income or less over the previous two years at the time of investment.
  • Your business cannot engage in foreign activities, and
  • Your business cannot be a prohibited business (re-lenders or re-investors; passive businesses; most real estate businesses; farmland; project financings, or businesses contrary to the public interest.)

Types of Financing

SBIC s may provide loans, equity, or a combination, depending on the circumstances.

SBIC s typically look for profitable businesses with sufficient cash flow to pay asPresensociated interest. If your business is not profitable, you would probably need sufficient revenue to qualify for SBIC financing.

Working with an SBIC

The SBA describes the steps in finding an SBIC:

1. Research SBIC s to find one whose investment goals fit with your small business plans.

2. Create a business plan for your meeting with an SBIC.

3. Present your business plan and proposal for SBIC financing. Before you present a plan, get information on the specific SBIC you want to approach, and try to establish a connection with that company.

For More Information about SBIC Lending

The SBIC section of the SBA website has information on SBIC lending, including a list of SBIC s on the SBA website.

What if My Business Doesn t Qualify for SBIC investment?

You may still be eligible for one of a number of SBA loan programs, including their signature 7(a) loan.


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Small Business Banking – Ameris Bank, small business banking.#Small #business #banking


Small Business Banking

Small business banking

Your checking account should fit your business’s unique needs. Work with a specialist dedicated to making the switch hassle free. Learn More

Small business banking

Mobile Banking

Access your accounts on the go through a variety of mobile options: Mobile App, iPad Tablet, and Mobile Web. Learn More

Small business banking

Online Banking

Ameris Bank Business Online Banking gives you the access and tools needed to manage your business accounts. All online banking activity is performed Learn More

Small business banking

Merchant Card Services

Ameris Bank’s Merchant Credit Card Processing services offer a variety of options to give your customers the convenient payment options they need. Learn More

Small business banking

Business Loans

Financing to help your business reach its full potential. Learn More

Small business banking

SBA Financing

Over half a century ago, Congress created the Small Business Administration (SBA) to offer small businesses financing options and funding to start Learn More

Tools Resources

Small business banking

Calculators

Small business banking

Understanding Cybersecurity

Small business banking

Business Online Banking Demo

Small business banking

Starting a Business

Small business banking

Funding a Business

Small business banking

Growing a Business

Small business banking

Cybersecurity

Account Access

Interested in having Online Banking? Register Now.


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Small Business Online Banking, TD Bank, small business banking.#Small #business #banking


Small Business Online Banking

Easily manage your small business bank

accounts when and where you want

Save time and money with online banking and the TD BusinessDirect Mobile App.

Small business banking

Manage your accounts

  • Access all of your accounts
  • Funds transfer
  • Fully compatible with

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Securities and other investment and insurance products are: not a deposit; not FDIC insured; not insured by any federal government agency; not guaranteed by TD Bank, N.A. or any of its affiliates; and, may be subject to investment risk, including possible loss of value.

Data as of March 2017. Comparison of longest average store hours in the regions (MSAs) in which TD Bank operates compared to major banks. Major banks include our top 20 national competitors by MSA, our top five competitors in store share by MSA and any bank with greater or equal store share than TD Bank in the MSA. Major banks do not include banks that operate in retail stores such as grocery stores, or banks that do not fall in an MSA.


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Small business loans, small business lending.#Small #business #lending


Small business loans

A unique way of helping people who might not qualify for or need a conventional loan

Instead of looking at your credit history and net worth, we look at ambition, character and determination.

We look at what you can achieve through financial literacy.

Microborrowers are

  • Entrepreneurs with great ideas and limited resources
  • People looking to enter a trade or profession
  • Newcomers to Canada who need to build credit history
  • People who need to repair credit history

Microfinance can help

  • Start a business
  • Upgrade education
  • Renew certifications
  • Buy tools equipment to start working

Vancity offers two types of microfinance

Peerloans

If you are a group coming together to support each other through the early stages of a micro-business then have a look at our Circle Lending loan. Also known as Peer Lending, this loan is best suited for people in a shared community.

Circle Lending loans often support kitchen-table businesses, and are great for building local enterprise and credit histories.

If you have recently graduated from trade school or have a job offer in a new field but don’t have the cash to set yourself up with the tools or equipment required then our With These Hands loan will provide some upfront cash to launch you on your way.

If you are a newcomer to Canada and need some help getting back into your previous line of work our Back to Work loan can help.

The loan can support you with the costs of a challenge exam, or cover professional fees.

Microloans

Offered by The Island Chefs Collaborative and FarmFolk CityFolk, in partnership with Vancity, this loan of between $1,000 and $10,000 provides

funds for growers, harvesters and processors to invest in equipment and materials to increase the supply of food in the region.

If you have a great start-up business idea, an entrepreneurial spirit and a business plan then the Be My Own Boss loan may be right for you. You don’t yet need a track record, just the drive to succeed.

If you’re growing food on under 50 acres and need up to $75,000 to develop your operation, we’d like to help.

With your business plan, good character and training or experience, you’re ready to explore the Small Growers loan.

If you’re starting up or expanding your creative enterprise and need up to $75,000 to develop your venture, we’d like to help.

With your business plan, good character and training or experience, you’re ready to explore the By Design loan.

Is your business is in its second or third year of operation? Do you need capital to grow, or a line of credit to ease the cash flow challenges that often come when a business succeeds and expands?

The Next Step loan is for young, healthy businesses that don’t yet qualify for traditional financing.

Have you finished the Aboriginal Business and Entrepreneurial Skills Training (BEST) program and have a great start-up business idea or want to buy or expand an existing business?

The Aboriginal BEST loan can help get your business idea up and running.

We can provide a business loan based on your entrepreneurial drive, the strength of your idea and the potential of your business plan, instead of just your credit history and collateral.

If you are a small-business owner or start-up social enterprise, then the Microloans for Green Businesses will work for you.

If you have an offer of membership from a worker’s co-op, and you want to contribute your full membership share right away, we’d like to help.

The Work-to-Own co-op loan can help you put your equity to work right away.

Contact Vancity’s Microfinance Program Manager

Call us. Small loans can make a big difference.


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Beyond the Bank Loan: 6 Alternative Financing Methods for Startups, financing a small business.#Financing

Beyond the Bank Loan: 6 Alternative Financing Methods for Startups

Many aspiring entrepreneurs have an idea for their business but lack the capital to actually start it. Brand-new businesses are often turned down for bank loans, and even if your business is established, funds can still be tough to secure. Loans funded by the Small Business Administration are usually more accessible, but they are becoming increasingly competitive.

So what options are left for someone aspiring to be a small business owner? Here are six options beyond bank loans for financing your startup.

Online lending

Online lenders have become a popular alternative to traditional business loans. These platforms have the advantage of speed, as an application takes only about an hour to complete, and the decision and accompanying funds can be issued within days. Because of the ease and quickness of online lending, economist and former U.S. Treasury Secretary Larry Summers said at the 2015 Lend It conference that he expects online lenders to eventually reach more than 70 percent of small businesses.

Editor s note: Are you considering a small business loan for your business? If you re looking for information to help you choose the one that s right for you, use the questionnaire below to have our sister site BuyerZone provide you with information from a variety of vendors for free:

Angel investors

Angel investors invest in early-stage or startup companies in exchange for a 20 to 25 percent return on their investment. They have helped to start up many prominent companies, including Google and Costco. Mark DiSalvo, CEO of private equity fund provider Semaphore said, You are likely to get an investor who has strategic experience, so they can provide tactical benefit to the company they are investing in.

Find out what makes angel investors fund a business here.

Venture capitalists

Venture capital is money that is given to help build new startups that are considered to have both high-growth and high-risk potential. Fast-growth companies with an exit strategy already in place can gain up to tens of millions of dollars that can be used to invest, network and grow their company frequently.

Brian Haughey, assistant professor of finance and director of the investment center at Marist College, said that because venture capitalists focus on specific industries, they can generally offer advice to entrepreneurs on whether the product will be successful or what they need to do to bring it to market. However, venture capitalists have a short leash when it comes to company loyalty and often look to recover their investment within a three- to five-year time window, he said.

Learn more about venture capital here.

Factoring/invoice advances

Through this process, a service provider will front you the money on invoices that have been billed out, which you then pay back once the customer has settled the bill. This way, the business can grow by providing the funds necessary to keep it going while waiting for customers to pay for outstanding invoices.

Eyal Shinar, CEO of small business cash flow management company Fundbox, says these advances allow companies to close the pay gap between billed work and payments to suppliers and contractors.

By closing the pay gap, companies can accept new projects more quickly, Shinar told Business News Daily. Our goal is to help business owners grow their businesses and hire new workers by ensuring steady cash flow.

Visit BND s guide to choosing a factoring service here.

Crowdfunding

Crowdfunding on sites such as Kickstarter and Indiegogo can give a boost to financing a small business. These sites allow businesses to pool small investments from a number of investors instead of having to look for a single investment.

Make sure to read the fine print of different crowdfunding sites before making your choice, as some sites have payment-processing fees, or require businesses to raise their full stated goal in order to keep any of the money raised.

Check out some emerging trends in crowdfunding here.

Grants

Businesses focused on science or research may be able to get grants from the government. The SBA offers grants through the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs. Recipients of these grants are required to meet federal research-and-development goals, and have a high potential for commercialization.

Learn more about applying for a small business grant here.

Additional reporting by Katherine Arline and Nicole Taylor. Some source interviews were conducted for a previous version of this article.

Jennifer Post graduated from Rowan University in 2012 with a Bachelor s Degree in Journalism. Having worked in the food industry, print and online journalism, and marketing, she is now a freelance contributor for Business News Daily. When she s not working, you will find her exploring her current town of Cape May, NJ or binge watching Pretty Little Liars for the 700th time.