Should a small business barter?

small-business-barter

Cash is king but what do you do if your business needs something desperately and can’t afford it? Take a cue from the past and barter your way to what you need. Bartering has existed since the beginning of history, where people exchange goods or services. It predates the existence of money and is still used extensively today with billions of dollars worth of time and products changing hands every week. Should a small business barter to pay for what it wants? Should a small business barter … [Read more...]

Nonbank loans covered on CNN Money

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CNN Money recently published an article by Sara Ashley O'Brien (@saraashleyo) that profiles the state of non-bank small business lenders in the country.  Mike Periu was quoted: "Small business owners need to carefully evaluate lending options and understand that not all lenders are created equal," said small business adviser Mike Periu. "It's up to the borrower to do their homework." As the non-bank lending sector continues to grow its more important than ever that small business owners do … [Read more...]

Use big data for small business to crack the pricing code

big-data-for-small-business

Pricing is the most difficult element of a company’s marketing mix to get right. Few small businesses take a scientific approach to pricing, instead relying on trial and error as well as the owner’s gut. Slugging around with unscientific pricing experiments can easily cost a company thousands of dollars a month in lost profits. Even worse it can lead to lost customers that otherwise would have stayed if the proper pricing were used.  Up until recently, only very large companies could afford the … [Read more...]

Small business profits can be good, bad or just plain ugly

small-business-profits

At its most basic a business exists to make profits. You can’t have anything else – jobs, products, and a sense of accomplishment – unless you can turn a profit. Many businesses these days are doing just that – making big profits. During the first 3 months of 2014, U.S. corporate profits were over $1.5 trillion; this is even after deducting falling inventory and equipment values. That’s nearly $17 billion daily! While this sounds great, just because a company is making a profit doesn’t mean … [Read more...]

For the SBA, bigger means smaller

sba-small-business-size-standards

Maria Contreras-Sweet, the newly appointed Administrator of the Small Business Administration, recently announced an updated formula for defining “small” at the SBA. The bottom line is that starting July 14th  thousands of companies that were considered too big to qualify for SBA programs will now be considered small. This new status means access to cheaper financing and new sales opportunities. It’s kind of a big deal. SBA small business size standards: how the SBA measures the size of your … [Read more...]