How spot financing can help your company
A phone call comes in, you talk to a client, and before you know it you have taken one of the largest orders your company has ever seen! This is a wonderful phone call, but at the same time it's a bad thing as you use all of your cash reserves to complete the order and you hope this customer makes this big payment in a hurry. Unfortunately for a number of small businesses, they make the big mistake of not asking this big customer to make a deposit at the time the order was placed and then enroll in a payment plan.
Non-traditional methods for financing your business
Most potential business owners know about going to a bank to obtain financing, but this is not possible for all business owners because of credit issues. Obtaining financing through a bank is a traditional method of obtaining business financing, in some cases you might need to use some non-traditional methods of financing to get your business off the ground. Here is a look at some of the more popular non-traditional methods that you can use to finance your business.
When your business is in need of financial help
A business' finances are one of the major causes of business failure. But most businesses are not doomed to failure if the business owner understands and watches for any financial problems that may arise in the business. If they can be caught and fixed early on, business financial problems may not cause the business to fail. This article discusses when a business is in need of financial help.
How to protect your business assets
When starting a business there is no certainty that your business will be successful.If your business does become successful you will want to do everything possible to protect and continue growth of your business.There are many things that a business need protection from.Business and marketing is constantly changing, costs of products are rising, consumer habits are changing and every business is in danger of fraud.The thing most businesses worry about is competition putting them out of business.Lets look at ways you can protect your business and keep your business moving forward.
A) Protect yourself against law suits and losses in your business.Get insurance to cover accidents that you could be held liable for.Ex:If someone slips and falls on your business property they could sue you for damages.If you have a home based business and a customer falls walking to your door, you would want to purchase extra home owners insurance to cover that.If you use a car for your business get insurance that will cover a business car, they have different insurance for personal use and business use.Also get workers compensation, if you don't you could end up paying a lot of money and that could soon lead to bankruptcy.
Continue reading "How to protect your business assets"5 tips to handle getting sued
While not every gets sued it can happen to you in a business when you least expect it. For example somebody can slip and fall and claim that they were injured at your place of business or you can get sued for not paying a bill. The reasons can vary greatly but here are some tips so you know what you should do to handle getting sued.
Tip one:
If you are being sued you can try talking to the person or company who is suing you before your court date. Try to work out payment arrangements that you can stick to or try to pay off the debt in full. If you are not being sued for lack of payment you can try to work out a settlement arrangement before going to court. Even though the person who sued you went to court that does not mean that they are not open to discussing alternative arrangements. People usually use court as their final option, not as their first option. If the person is unwilling to settle with you directly try suggestion you go to mediation or other alternatives rather than going to court. Court can get expensive for both parties involved so seeking other solutions is in both of your best interests.