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What is Business Development?

Business development is a key concept with which entrepreneurs must familiarize themselves to succeed in today’s competitive commercial landscape. According to the Bureau of Labor Statistics (BLS), about one in five small businesses fail within their first year, while one in two small businesses fail within their first five years. As an entrepreneurial business owner,…

How to Build Business Credit?

Building strong, positive credit for your business can help you secure funding with greater ease. Unless you’re applying for a secured loan, the lender will probably evaluate your business credit. If you have bad business credit or no business credit, you may struggle to approved for a loan. But there are ways to build business…

How to Start a Business with No Money

All businesses require capital to cover their startup and operational expenses. Unfortunately, this leaves many entrepreneurs facing the age-old paradox: How do you start a business if you don’t have any money? A report published by Wells Fargo found that most small businesses need an average of $10,000 to get up and running. While some…

How to Get a Business License

If you’re planning to operate a business, one of the first things you will need to do is acquire the necessary licenses and permits. Failure to do so could leave your new business subject to fines or, in extreme cases, forced closure by your state or local municipality. While there are several types of licenses…

How to Qualify for a Business Loan

Just because you apply for a business loan, there’s no guarantee that you’ll get approved for it. According to research cited by Small Business Trends, banks only approve about one-quarter of all small business loan applications. It can be frustrating when you spend time and energy applying for a loan, only for the lender to…

How Do Business Loans Work?

Millions of entrepreneurs use loans to fund their business. Loans are a form of debt-based funding, providing entrepreneurs with the capital needed to get their business up and running. It allows companies to purchase equipment, hire employees, rent or lease a building, and cover other expenses that are essential to their business’s operations. For those…

How Do I Apply for a Business Loan?

Business loans offer a convenient way for entrepreneurs to fund their business. If you’re considering starting a business, you should weigh your options carefully. One of the main advantages to a business loan is that you won’t have to forfeit equity in your business. This means that you can retail full ownership. You will, however,…

Assets vs Liabilities – What’s the Difference?

Good business accounting practices begin with understanding the difference between assets and liabilities. A typical balance sheet contains two columns: one for assets and another for liabilities. These two key financial metrics provide a general overview of your business’s financial health by tracking how much money your business makes relative to what it spends and…

How to Get Financing for a Business

Financing is an important step to launching and operating a business. By definition, a business is a person or entity that sells products or services. According to the Small Business Administration (SBA), there are about 28 million small businesses in the United States, as well as millions of other larger businesses. Regardless of size or…

How to Get a Loan for a New Business

Statistics show that the average cost of starting a new business in the US is roughly $65,000, according to a Babson College study. Of course, some businesses may require more or less startup capital, depending on the industry and scale of the company. Regardless, if you are planning to open a new business, you may…

What is Asset Turnover?

Asset turnover is a financial metric that reveals a business’s sales relative to its total assets. Whether a business sells a product or service, it most likely has assets of some sort. Manufacturing companies, for example, have expensive machines and equipment, whereas landscaping businesses have lawnmowers, weed eaters, and trucks. The items a business uses…

What is the Difference Between Leasing and Financing?

It’s not uncommon for businesses to lease or finance some of their equipment rather than purchasing it. A construction company, for example, may use one of these purchasing alternatives to secure a bulldozer. With the average cost of a new bulldozer ranging from $75,000 to $150,000, not all construction companies can afford to purchase them…