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Some of you may think I’m crazy for the headline but it’s true. In the midst of a down turn, stock market plummeting, housing prices falling, high unemployment, poor consumer confidence, and all the other things going wrong there is a light at the end of the tunnel. That’s right – new business start-ups.
If you don’t believe me, just look at history. A recent article by Rhonda Abrams in the USA Today noted that 16 of the 30 companies that make up the Dow industrial average were started during a recession or depression. These include: Procter & Gamble, Disney, Alcoa, McDonald’s, General Electric and Johnson & Johnson.
In the years 1973-1975 the United States had an unpopular president, was in the midst of the Watergate scandal and was at the tail end of an extremely costly war that had divided the country. Gas prices increased 50% in just two years and consumer confidence dropped to an all time low.
You would think based on the state of America between 1973 and 1975 you wouldn’t want to start a business or at least if you did it would be a horrible time to do so and no company would make it. We’ll here are a few that did start in the early 70’s and not only survived…. Well you’ll get the picture.
Supercuts, Chilis, Cablevision, Industrial Light & Magic, Famous Amos Cookies, Oakley and of course there was Microsoft.
Starting a business in so-called “bad-times” can be a great time. Here are a few reasons why:
1. Many businesses are closing leaving a gap for the consumer to fulfill on their needs. If there are four Ice Cream stores in the area and consumers slow down their spending, you’ll likely see all four stores hurting for customers. The Ice Cream store with the best financial balance sheet will likely survive through the “hard-times”. If there aren’t any with good balance sheets, they may all go under. This doesn’t mean there isn’t a need for an Ice Cream Shop, there just isn’t enough of a demand for four. This would be a great time to look at where the gaps are in your area.
2. Consumers typically slow down on new purchases, which means when an item breaks they are more likely going to fix it then spend the extra money to buy a new one. If you are a handy at repairing items, you may want to set-up a repair shop. It was just reported last week that sales at repair shops have increased every month the last year when all other stores were declining in sales.
3. Become the affordable alternative. Many consumers are loyal to a specific restaurant, store or type of business. However, when times are tough and the consumer starts to cut back they are more likely to jump ship and find a less expensive alternative to meet their needs. If they are use to spending $25 for dry cleaning and can get the same quality for $20 they just may change their dry cleaner.
4. It’s a great time to pick up really good talent. If you are starting a business where you need to hire staff, now is a great time. There are a lot of layoffs at corporations and small businesses closing during tough times. This is a great opportunity for those hiring to pick up top talent at lower wages. You can now afford to hire the College graduate whereas before you had to settle for someone who just completed their G.E.D.
If I haven’t convinced you yet that now is the time to start your own business, then you may just be one of those people who I run into daily that says – “I have always wanted to start my own business – but have always been afraid it’s not the right time.” They’ve been making that statement for years and will continue to live with regret they didn’t make the move and decide it is the right time “now”.
David Gass
Here are year-end business tips to save you money, time and protect you and your business.
December typically brings many of us great joy and celebration. We are able to spend time with family, reflect on wonderful memories of past December holidays and look forward to the start of a new year.
As entrepreneurs there are certainly important tasks we need to do before the end of year to keep our business and personal life in order. Here are five tips that can help in ending the year on a positive note.
Tip #1 – Corporate Records, make sure you have all your corporation or LLC records in place. Every Corporation or LLC should have the following documentation prepared each year to protect the corporate veil and provide back-up documentation in case of a tax audit. One of the first things a tax agency will do in an audit is ask for these.
If you need a good tool for maintaining your corporate records I would highly recommend the BizDoc software. The software is an interactive program that isn’t just a bunch of word document templates, it can actually help track everything for you and provide guidance on what to do next.
Tip #2 – Financial Review. Pull together a Profit and Loss statement month-by-month for the entire year with a comparison against the previous year’s numbers. By doing a review of year over year results by month you can get a very good feel for where you business is going and what needs to be corrected. If you see sales overall drop, you need to look at the items you are selling and see if the drop was across the board or only in one area. You can also look at your advertising expense and see if the same amount was spent year over year.
You should also look at expense growth. Have you increased expenses or overhead that weren’t necessary?
Once the review is complete, write down key findings and action steps you can take in the New Year to correct them.
Tip #3 – Budget and Projections. Take time to layout projections in revenue for the New Year by month. What will sales be each month for the New Year and break it down by category of sales. With the projection in sales you should then be able to determine how much you need to spend in marketing to get to that number. This will start you on the budget. So next start a budget for what expenses will look like in the New Year based on the previous year’s results. Look at the key findings in your review from Tip #2 and be sure to correct the areas that need attention.
Once the budget and projections are complete make sure you use them as a tool throughout the year. This means you need to track your Profit and Loss statement on a weekly basis to be sure you are sticking to the budget and meeting the projections.
Tip #4 – Write down your goals. I never start a new year without writing out two sets of goals. I have one list of personal and one list for business. I found it was a lot easier to write the goals when I didn’t put my business into the overall mix. Personal goals need to include at minimum your physical health, financial situation, mental wellbeing and rewards. I love having rewards as part of my goal list so I am reaching to achieve the goals for more than the satisfaction of meeting the goal. I want to reward myself for doing it. I have trips, electronics, and simple rewards such as an extra day of golf.
Tip #5 – Create an Action Plan. Now that you have a list of corporate documents you need to complete, a review of your financial situation, budget for your business, projections of where sales need to be and goals written out you need to create your action plan.
Start at the end. Look in the future 12 months. Figure out what everything has to look like in order to reach your objectives. Then work backwards. For example, if you want to lose 20 lbs in the next year, you can break that down by saying I need to lose 1.7 lbs a month. In order to lose 1.7lbs per month you need to figure out how many calories you need each day and make sure you eat only the amount of calories you need and nothing more. Then determine how many days each week you need to exercise in order to lose the weight.
In the first month or two you will be able to determine exactly what those numbers are and can set out the action plan. The action plan should have in it what you need to do each day, week and month to accomplish the objectives.
When looking at the five tips, I start by protecting my business (where my income comes from). I want to make sure initially it’s protected from lawsuits and audits, and then make sure I have a good budget and projections in place. Once I have that I can create my goals and action plan to tell me what I need to do for the new year.
David Gass
The much anticipated ‘It’s Only Business’ Workshop on the East
Coast has come to a close and we are very excited to share our
experience with those who were unable to attend.
This was the very first time we have ventured to the East Coast
using the new workshop format of ‘It’s Only Business’ and I have to
admit that we were welcomed with opened arms. We kept this workshop
closed to the public and were joined by an intimate group of
entrepreneurs and small business owners laying out a number of
strategies that could be immediately implemented into their
businesses.
Our Nationally renowned trainers, David Francis, Mark Del Guercio,
and Scott Fritz along with myself, discussed topics directly
related to the current economy and focused on the importance of
having an action plan.
“To love what you do and to feel that it matters, how can anything
be more fun” said David Francis about this training session. This
was a very emotional workshop, with the economy in the state it is
in, business owners large and small face times of turmoil and
without knowledge business owners are finding themselves having to
close up shop. “Education is the key to survival,” Francis added,
“we are here for just that, to educate and help in times where
there seems to be no hope.”
The media has focused on the bad for far too long…
Now is the time to focus on your goals and educate yourself as a
business owner or entrepreneur in order to see yourselves through
the dark times and this workshop has proven that you are able to do
just that.
Structuring your organizations with a step by step action plan is
critical, especially when funding is the main source of stress. The
first step is to know what business credit really is and how very
important it is today.
If you could just turn back the clock to when you were 18 years of
age and start all over again with your personal credit. If there
were a class or seminar at your high school where you could have
attended to guide and educate you on how personal credit works and
the impact it will have on your life, knowing what you know now,
how much would you be willing to pay for that seminar if you had
the money? This is a question we have asked audiences all over the
country. The answer is always the same, “tens if not hundreds of
thousands of dollars”.
Well, we cannot go back to high school or to the start of our
personal credit record, but what we do have the opportunity to do
is start our business credit the right way and allow ourselves to
save tens if not hundreds of thousands of dollars of the life of
our business.
According to FAIR Isaac, the issuers of personal credit scores
(FICO); the average number of credit inquiries for the American
consumer is one per year. An inquiry is when a credit granter
purchases your credit report to determine if they will grant
credit. Based on our experience if someone has more than the
average numbers of inquiries, each inquiry tends to drop their
personal credit score 5-10 points. Now, as a business owner will
we have more or less than the average number of inquiries? Of
course, MORE.
The good news is that as business owners we have the ability to
develop a credit profile personally as well as one for each of our
businesses. If proper steps to establish and build excellent
credit history have not been taken, applicants for business credit
are in for a rude awakening. However, unlike what many people
think, it is not an easy process to obtain the credit and capital
most small businesses need. There are specific steps a business,
or individual, must take in order to have a realistic chance at
gaining approval for an application of credit. The steps one needs
to follow may seem deceptively simple on the surface; however, it
is very important to note that the implementation of these steps
can become complicated. Each step has to be carried out with a
great deal of preparation and it is very important to know that
each step is thoroughly choreographed. You wouldn’t want to skip a
step and have your foundation crumble would you?
As Mr. Francis stated, it was a very emotional workshop. Our
attendees went down a path of enlightenment and were truly thankful
to all of the trainers. You can look forward to hearing some of the
testimonials soon.
Entrepreneurs and business owners alike are some of the most driven people you could meet. The passion in their eyes is almost blinding. The goals they set for themselves are remarkable! And now with the economy in such turmoil, I can see the hesitation becoming overwhelming.
A National Small Business Association survey of 500 small business owners found that sales and profits had dropped and job growth was at the lowest point in 15 years, problems that could have a significant impact on an already shaky U.S. economy.
The survey also found that 71 percent of business owners have a “negative outlook” on the economy compared to 43 percent a year ago; confidence in their business’ success dropped from a high of 81 percent a year ago to 70 percent now.
To keep your business from being impacted by any of the challenges the economy is facing there are 4 key points all business owners need to address once they have incorporated to maintain the positive mindset you started your business with.
1. Life After Incorporation
2. Establish Asset Protection
3. Financial Planning
4. Developing an Action Plan
Today I want to talk about the very first steps you need to take once you have incorporated.
First, you need to understand your company’s roles and who will fill them. Understanding the need for leadership within the organization and how to provide that is the key to the success of the business owner.
Second you must meet the legal requirements of running a corporation.
Third, regain control of your corporate records.
Fourth, get your company in compliance. Some of the things you will need to focus on include:
1. Open a separate bank account for your corporation.
2. Start a minute book for your corporation’s meetings.
3. Hold your first board of directors’ meeting.
4. Issue certificates to your corporation’s initial stockholders (if applicable).
5. Obtain business licenses and permits for your corporation from:
6. Follow all legal requirements for running a corporation.
Incorporating can be a long-term benefit to your new business in the long run, but the process can be complicated. To ensure that your new business complies with your state’s legal requirements at all steps in the incorporation process consider retaining the services of professionals who are experts in these processes.
The companies that see through these times of turmoil are the companies who come out significantly ahead of the rest.
One way to gain clarity and see past these challenging times is to learn from people who have actually achieved success. We have four of the Nation’s top business experts meeting in the Philadelphia area for three days in November, offering invaluable business insights, proven strategies and techniques on raising capital, building corporate credit, separating personal and business finances and protecting your assets. Our trainers, David Gass, David Francis, Mark Del Guercio and Scott Fritz have been featured in INC 500, Entrepreneur Magazine, Inc., Kiplinger and Business Week as well as business experts on radio and television.
By attending the ‘It’s Only Business’ Workshop: Business Strategies for Today, you will
discover the insider secrets on how to succeed in an economy that has been said to be putting consumers in greater trouble with banking woes, rising debt levels, and unemployment.
Wanting success isn’t enough. You have to take ACTION and NOW is the TIME! Seating is limited so you need to RSVP to secure your spot so don’t delay!
Register Now by clicking here:
www.itsonlybusiness.com/seminar
Today hearings are going on in Washington to decide how to clean up the financial mess that has been building over the last decade or more. They are trying to figure out how to bail out big businesses so they don’t fail and cause more of a mess for us all. What are they really doing for us? Can they help the small business owner? Are they even considering the small business owner?
Go to our blog post to read more…
The reality is the financial markets are in disarray because mortgages were made available to high risk borrowers using programs they couldn’t afford. Then as interest rates rose the payments got too high and the high risk borrower couldn’t afford the payments any longer.
Lenders are now looking at all lending practices. In the small business lending market, there used to be very easy to obtain loans and lines of credit for a small business owner up to $50,000 with very little documentation. Well, now that the financial crisis has hit the easy programs are falling to the waste-side.
Keep in mind when you are applying for a small business loan, more now than ever, an approval is based on the level of risk of the borrower. If you are a high risk business or business owner you aren’t going to get an approval. If you lower your risk by being in compliance with the lending markets, having a business credit profile, a solid business credit score, good trade references, revenue in the business and a good personal credit score you improve your chances of an approval.
If you don’t have all of those things to lower your risk, don’t wait. Start now to improve your standing as a low risk borrower so as the credit markets loosen, and they will in due time, you are ready to take advantage of the programs that will be made available.
So what do you do now? There are several lending options for the small business owner. The best option is one that doesn’t cost money with high interest rates, trade credit. Trade credit, also known as business or corporate credit is easier to obtain once a business is in compliance with the lending markets. It is when one business sells a product or service to another business on credit terms. Typically without interest if paid within 30,60 or 90 days.
In addition there are several other alternative financing options that will be easier to obtain once a business is in compliance and obtained several trade accounts with vendors. Those options include equipment leasing, merchant account cash advance program, equipment sale-lease back, factoring, purchase order financing, angel investors, etc., etc.
The place to start when seeking financing is to put your company in compliance with the lending markets. The first step in that process is to incorporate and then do everything you need to in order to lower the risk level of the business. Get a business license, list your phone number with directory assistance and about 2,000 other checks that a lender can do to determine your level of risk. The BCS Compliance report will do those checks for you.
In today’s financial crisis we need not sit back and wait for the government to save us. We as business owners are the ones that built this country, not the law makers. We need to start right now, doing everything we can to build revenues, add jobs and provide a quality service or product that’s needed in today’s market place. When we do that, good things will happen.
David Gass
Last week I announced the sale of Business Credit Services to CSC (Corporate Service Company). There have been several of our readers who have congratulated us for the sale and a few with questions about what’s next for BCS and me.
First, I appreciate all of you who provided your comments about how you were genuinely happy for us and told us your stories about what BCS was able to help you with. (You can read a few of those comments at the end of this post)
Second, I want to provide some clarity about what’s next for all of us.
At Business Credit Services, everything is business as usual – for now. There are several projects underway to improve the quality of our offerings and also to add to them. For years, I have been asked by clients who graduate our Business Credit Builder program “What else do you have for me?” Soon enough we will have several answers to that question.
Over the next few months as projects are finished and rolled out we will announce them here in our newsletter and blog. You will be the first to see how the acquisition of BCS by CSC will change the landscape of the Business Credit, Small Business Financing and Incorporation industries forever.
I am extremely excited about the solutions we are putting together that will change the statistics for small business owners in the near future. No more 80% fail in the first year. Our goal is to change that statistic to the positive by providing quality solutions to business owners that improve the success rate of small business.
My new role in the company is to build those solutions with the resources of CSC. With the CSC experience of over 100 years in the market place as the leader in incorporation services and our teams small business entrepreneurial mindset we will provide a revolutionary package of solutions that entrepreneurs everywhere will benefit from.
We look forward to hearing the successes of small business owners as they join us in the effort to increase the likelihood of success for business with quality solutions .
David Gass
Every week I sit down and look at what’s happening in the credit market, read questions from our readers and clients about how to run a successful business and read the latest headlines to determine what topic is relevant for my weekly blog post.
This week is a bit different. Today I will write the story of how I sold Business Credit Services.
I started Business Credit Services back in October of 2000 and brought in a partner, Dave Von Holten in January of 2001. When Dave and I first meet to discuss the business and direction we wanted to take, we asked each other a few questions about how we would work together. One of which was “What is your exit strategy?” Dave said “I would like to exit in 3-4 years.” Which is exactly what happened, he was bought out of the business in October of 2004.
Dave then asked me what my exit strategy was. I responded at the time “I’ll work here until I can let my kids take it over several years down the road.” In October of 2004, I reevaluated my exit strategy. I couldn’t see my kids, now 8 and 1 ½ taking over the business any time soon. So I thought about other exits for the business. Over the next few months I wrote down a lot of goals for the business and my personal life. One of the goals was to sell Business Credit Services to The Company Corporation before I turned 40 and for a specific price. I believe in specific goals. You never want to just say I’ll sell the company, you always want to write down to whom, for what price and by when.
The Company Corporation’s General Manager had visited Dave and I a few months earlier to look at sending leads and clients back and forth between the businesses. So I thought, why not? I’ll write that company down for now.
The Company Corporation is the largest incorporation firm in the United States. They are the small business incorporation division of CSC (Corporation Service Company) a 100 year old company whose founders actually drafted the corporate statutes of Delaware, the number one place for publicly traded companies to incorporate. They provide corporate services for law firms across the country and have acquired divisions of many familiar names such as Register.com, NameProtect, The Company Corporation, Prentice Hall, Lexis Nexis, Diligenz, Entity Services, and US Corporate Services. They have resident agent offices in all 50 states and offices in Europe as well.
This year the General Manager of The Company Corporation called to check-in and see how things were going, the same person from 4 years earlier. He called to congratulate us on being listed in the Inc 5000 Fastest Growing companies for a second straight year and to discuss the success of our two companies referring business back and forth. During the conversation, he asked if I was interested in selling. I told, “Make me an offer and we’ll see if I’m interested.” It was my nice way of saying, “If the price is right, yes.”
Within two weeks, they made me an offer and we closed the deal last Friday.
What does this mean for our clients?
Business Credit Services will have more resources available to provide an even bigger selection of products and services for the small business owner to meet their financing needs. In addition we will be able to offer a whole suite of services and products for the small business owner through the CSC family of companies. We are able to work closer with lending institutions and vendors that offer credit because of the number of clients we can bring their way. The leverage of numbers is the key when it comes to building relationships for financing small business owners.
Be on the lookout for announcements in your mailbox and email for new programs and our latest seminars. We will have our first co-sponsored seminar with The Company Corporation and CSC this November in Philadelphia. We look forward to presenting new speakers, topics and strategies for small business owners to survive in today’s market place.
Some of you may ask, What about you? What happens to David Gass in all of this? Well, if you like getting my emails every week don’t worry –I’m sticking around.
More to come in an announcement soon to your inbox.
David Gass
Think of the whole thing as cyclical: if you love what you do, then it’s not really “work”…
Have you ever wondered what separates the truly successful from the rest of the world???
If you are like 78% of the rest of the world, you ask yourself that question regularly!
When I have spoken with some of the most successful people from all over t he world, there was one common factor… their MINDSET’s. In a world of uncertainty, take Charge. If nobody knows what the future will hold, your vision of how to navigate it is as good as anyone’s. The future may as well belong to you!
Setting Goals Is Actually Where True Success Begins; Achieving Those Goals Is Where Success Happens! Setting Goals without Achieving Them Equal’s Failure.
There are key factors to effective goal setting which will give you the mindset needed to be successful.
Vision:
I am sure you have heard the word vision time and time again; but without knowing the importance of having a compelling vision; what a vision actually is and how it should be used you will be stuck in the beginning stages without moving forward towards success.
If you do not know where you want to be… How will you ever get there???
Vision incorporates the aspirations of what outcomes are hoped for. An entrepreneur’s definition of success can go well beyond profit maximization to include a whole range of other factors, including employment in the community, ability to create balance with family responsibilities, bringing a needed service or product to the market, or creating a certain work environment for employees that is not available in other businesses.Initially a clear and compelling vision is critical to keep you focused. We often get tempted to pursue more opportunities than we can effectively handle. It is also an essential part of attracting employees, investors, suppliers and customers.
As your business grows, your vision becomes a compass to guide decision making both from a strategic and from an ethical perspective. It helps create order and meaning out of the chaos that so often part of a growing venture.
Personal Passion:
Think about what really gets you fired up, what drives your dreams. Your passions need to be able to get behind your list of goals and fuel the fire that makes you ACT.
Passion is a powerful emotion, such as love, joy, hatred, or anger.
When it comes to your life’s work what do you want to pursue? What do you want to do? In order to succeed in small business, and in all areas of your life, you need to follow your bliss, love what you do and live your Passion. The basic premise is fairly simple. Think of the whole thing as cyclical: if you love what you do, then it’s not really “work” and your productivity, job and personal satisfaction will go hand in hand. You will look forward to your day instead of the typical dread of the daily grind. If you are brave and take a risk, and accept your challenges ahead with passion and enthusiasm, then you are able to create new ideas and imaginative solutions for your problems.
Part of living your passion and having “boundless enthusiasm” is being the best person you can be. Striving each day to learn something new, even if it means learning from past mistakes, is something you can do every day. Perhaps one of the best ways to live your passion is to start today and develop an insatiable appetite for learning. Become a lifelong student. Stop by your favorite local bookstore or library and familiarize yourself with the business section.
Start small and browse through the vast array of business publications, magazines and newspapers. The best part is you don’t even have to buy anything (at first). The only limits are your own imagination. Simply put, “knowledge is power.” The more you know, the more you are able to apply that knowledge to your small business.
Think of all the innovative thinkers, did they stop learning? Your own personal journey is just beginning.
Ego:
Check Your Ego at the Door!
You do not need arrogance, defensiveness, or a desperate need for approval in your quest for entrepreneurial success, as these behaviors can only shut down dialogue, opportunities and decisions.
You may be brilliant, but you need to realize that you do not know everything; in fact, no one does. Hence, you may need collaboration and inputs from other people, which you can only maximize if you set your ego aside.
Honesty:
Your vision, passion and gifts that exist within you will carry you toward your goals; as Shakespeare wrote “To thine own self be true.”
Be Brutally Honest when setting your goals; know your strengths and weaknesses. Don’t pretend to have skills or talents that simply exist within you.
Achievable Goal Setting:
Set Goals that are YOURS to Achieve.
Make sure the goals you set are literally “Your Goals.” It doesn’t seem possible for you to be passionate about someone else’s goals. For you to achieve the goals you have set before you, you must believe deep within yourself that the goals are working toward will take your life where you want to go. Don’t take on goals for yourself that were designed by someone else. Look at your life and your vision then set goals that you will walk through fire to achieve.
Action:
Live a Life of Action!
Remember to spend less time on setting your goals than Acting on them.
Stay in Motion.
If you have a tendency to get stuck in the “planning” stage of goal setting, then start with setting smaller achievable goals each day that you make a priority to reach before the end of each day. If your goal is three home parties a week then set a goal that is yours to achieve within each day.
Can you Make someone book a home party? Of course not, but YOU can take the action (10 calls a day) that means you are taking this goal seriously and investing yourself in the process of reaching that goal.
What Is Your Why?
I’m sure you’ve been asked the question: why are you in *business for yourself? You’ve probably asked yourself that question more than once! Every once in a while I wonder what would have happened had I taken another route. In fact a couple of years ago I decided to go back to work for someone else. The opportunity to consult at some of the largest and most respected companies in the world spoke to my ego. It didn’t take long, however, to realize that
I made a mistake. I made a decision on ego that ran contrary to my “why” – my purpose and passion. I was miserable. Even though I had a steady paycheck and great benefits, I wasn’t happy. I’m not cut out for working for someone else.
There may be times when you wonder if you could make more money punching the clock for someone else. Circumstances may arise to question your will. At these times, you need to find your center. You need to be reminded about why you are in business in the first place. If you haven’t thought about this already, take some time to reflect. Write down your answer and keep it somewhere close. The day may come when you need to be reminded about your “why”.
Most small business owners seeking financing are looking for the money to purchase a product or service. The majority of time the product or service can be found through a company offering credit terms. Trade credit is used by household supply stores, marketing companies, printers, graphic designers, internet marketing companies, gas stations, equipment companies, auto-dealers, shipping companies, office supply companies, furniture companies and many more.
In addition to trade credit as an alternative financing option there is merchant account cash advance programs. Although this type of financing can be expensive it is still a great option for some businesses. This type of financing is for businesses with a merchant account charging more than $10,000 per month on the account. Many merchant cash advance companies will advance up to three months charges on a merchant account with very little personal credit information required to obtain the loan. The loan is then paid back out of future merchant account activity as a percentage of the total amount charged that month.
Another alternative source of financing is A/R Factoring. If a company has accounts receivable with other businesses with decent history and credit scores, a factoring company will come in and buy the receivables for a discount on the future value. The business gets money now and the factoring company waits for the invoices to be paid. When they are paid by the customers of the business, the factoring company gets their share and repayment on the advance.
A company can also use leasing as an option to finance their business. A lot of equipment and even software can be leased. There is extremely beneficial to start-up companies and those looking for large equipment purchases. The company doesn’t have to pay up front for a large ticket item, which than conserves cash for the growth and day to day operations of the company.
Small business owners need to get creative when it comes to building a business and finding the financing they need. Using trade credit and other alternative financing options just may help your business avoid the obstacles and pitfalls so many have fallen into and lost. For creative solutions for your business financing needs go to www.bcscredit.com and get a free ebook on Building Business Credit for Business Owners.
David Gass
Success Steps to Business Credit
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Success Steps to Business Financing
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