Category: Business Management

Best Payroll Services for Small Business Owners

Payroll plays a critical role in the success of small businesses. Irrespective of the size of an organization, employees have to be paid on time consistently, and an efficient payroll process ensures that. However, computing total wage earnings, holding back deductions, paying payroll taxes, and making payments require a lot of time and effort. With

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The small business boom

One of the most unexpected pandemic winners might just turn out to be new small businesses. Why it matters: The number of entrepreneurs starting a business easily hit a record high in 2020, according to a new analysis by University of Maryland economist John Haltiwanger. That’s a surprising result, given the severity of the crisis. The big picture: It’s

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Here’s Suze Orman’s best advice for small business owners

As small business owners recover from the pandemic, it’s important to make sure they get their personal and business finances back on track, said personal finance expert and best-selling author Suze Orman. That includes saving, investing and managing credit card debt. “You have got to put yourself in a situation that no matter what happens,

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The Ultimate Guide to Starting a Minority-Owned Business [+ Expert Tips]

COVID-19 presented more challenges than one for businesses, and the pandemic took an even more tremendous toll on minority business owners. With minority business owners experiencing a cash crunch, not many could secure loans to keep their doors open. In 2020, 400,000 small businesses decided to permanently close due to the effects of the pandemic

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Why FICO Scores Aren’t Enough For Small Business Lending

While there’s a growing demand for technology within almost every business sector, many fintech companies have been under more strain than ever since the Covid-19 pandemic caused economic uncertainty across the world. More people than ever spent 2020 looking for financial support, and many of them were owners of small businesses who found themselves having

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The Average Small Business Loan in 2020 was $71,072

The average small business loan amount for small businesses in the United States in 2020 was $71,072. This compared to fixed-rate loans, which had an average balance of $66,917 in the same year. These figures were uncovered by research by small business resource and research provider, AdvisorSmith. The study was designed to discover the average

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Three Things Your Company Should Be Doing To Avoid A Costly Ransomware Attack

The recent cyberattack on the nation’s largest fuel pipeline showed how effortlessly and efficiently cybercriminals can breach security firewalls at major corporations. In the case of the Colonial Pipeline attack, the result was not limited to nationwide panic, a crippling gas shortage and fears over spiking prices. Colonial is also paying a hefty price after

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What Small Business Owners Need to Know About Credit

Many small business owners tap their personal credit when first starting their businesses or during downturns. However, your business can also have its own — completely separate — credit profile. Building business credit can help save you money and grow your company. But for many small business owners, personal credit can still be a major

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5 Human Resource Challenges Facing Small Businesses Today

Unfortunately, there are no shortcuts when it comes to effective HR management. So, if you are an entrepreneur who plans to hire employees, do yourself a favor. Consider these five HR challenges in making sure you are compliant in all aspects of your business. Staying up to date on all current laws and regulations The

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Revisiting the Traditional Ways to Discover New Clients

Whether you own an MNC or a Startup, it is essential to strategize and regularly find new customers to increase sales. Even established businesses require the enforcement of new techniques that can help in the growth of potential consumers. Around 39 percent of customers say they attempted a business for the foremost time through direct

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How To Protect Your Small Business From Cyber Threats

I first realized the depth of cybersecurity when I understood how a data breach, a cyber attack or a phishing email can affect millions of citizens. Before co-founding my company, I had been very active in the smart city arena, where I was part of PwC’s global Smart Cities team. As cities become increasingly smart

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