Small Business Trends

I heard this statement from a small business owner several years ago — “run your business lean and mean,” he said.  But the difference between talking about it and doing it, you know, making the tough decisions to remove the fluff, manage the details and strategically market your message – is the difference between staying open and shutting your doors.

Failing to keep good financial records is like driving a sports car at top speed with your eyes closed.  It may be ok for a little while, but eventually you will crash and burn.  Perhaps one of your new year’s resolutions is to keep better financial records for your business. You may have pledged to finally tame the paper beast Read More

According to the SBA, 90% of our nations small businesses are family owned.  Of course, “family owned” does not always mean it’s a husband & wife team but many of them are as referenced here.  We all know that small business owners need capital today as bad or worse than ever.  We’re not here to complain about the Read More

Supporting small business was among the top economic stories of the year, and the rise in lending to those growing companies was the most important development in 2011.

It’s a story we saw developing since the credit crunch tightened the spigots on funding for small businesses. When the big banks said no, small banks and non-bank lenders Read More

So you’ve only got so much to spend? No worries.

If your budget is small, avoid gift cards or cash, and aim for gifts that pack a punch when it comes to value. For example, a bottle of wine may cost less than Read More

This article originally appeared on the OPEN App Center. Visit www.theopenappcenter.com for more information and resources for streamlining and growing your business.

Small business owners like us need to make sure we run tight ships. Spending less can help us weather slowing cash flow; cutting expenses can help realize more profit. The following are Read More

When it comes to buying business gifts, we small business owners don’t have an unlimited budget.  So it’s best to decide right up front how much you can afford to spend per person.

Multiple Approaches

There’s no set number for business gifts.  It varies, depending upon whether you are giving the gift to an employee, or Read More

When’s the last time you applied for a grant? For many small businesses, cash flow is a bigger problem than ever.  During a recession, it’s very difficult to get credit from banks, and getting paid within 30 days is no longer guaranteed–but you still have to pay expenses and salaries.

One way you can reduce this Read More

President Obama’s budget reform commission proposed eliminating the home mortgage interest deduction. This idea has analysts scurrying to estimate the proposal’s economic impact.

Unfortunately, our lawmakers often forget the law of unintended consequences when offering up changes to policies. In this case, our elected officials need to consider how making mortgage interest non-tax deductable will impact small business Read More

As part of my entrepreneurship classes, I teach my students to raise capital. When people find this out, they often ask one question: What’s the most important thing I need to know about raising money?  For entrepreneurs, four lessons are especially important.

1. For most entrepreneurs, seeking outside financing isn’t worth your time. Only a small Read More