Helping Your Clients Get Access To Capital

By Rick Burgess, CEO, Connect Lending

America is built upon our entrepreneurial spirit. This spirit is what drives our great country to innovate and endure adversity in challenging the ways businesses are managed. Every day, individuals embark on setting up a business to capitalize on the advantages our great country has to offer. With changes to regulations, additional requirements and limited lending practices, traditional bank loans aren’t always available, and may not be accessible for the everyday business.

Connect Lending

Fortunately, there are numerous types of alternative lending solutions in the marketplace. But, finding them by simply walking into your local bank or credit union isn’t going to be fruitful. Connect Lending provides an online platform to match small business owners to the right lender for their business solution. When using our platform, review these key factors with your client to ensure a smooth process for securing a loan:  (more…)

Sustainable Financing for Small Business

Financial-SolutionsBy Terry Crispen

Going green and recycling may be old concepts but that does not diminish their effectiveness in helping to achieve sustainability.  Oftentimes, we only associate sustainability with the environment, but sustainability is much more than that.  Sustainability is what should drive business decisions today and into the future. The Great Recession, largely caused by markets that were unsustainable, dealt a blow to consumers and businesses. Analysts estimate that more than 170,000 small businesses ceased operations during the Great Recession.  Now that the economy is rebounding, it is more important than ever for small business owners to remain focused on sustainability.

Today, alternative online lenders are the new rage in the financial world.  They promise speed and often deliver in three days or less. The temptation is great for small businesses to access funds in such a short period of time.  But are they making a sustainable business decision?  Once interest rates reach the 20%-40% range, the cost of getting access to fresh capital severely limits a company’s ability to perform and grow long term. Although alternative online lenders offer quick access to capital, the high interest costs make the solution unsustainable for many businesses.  (more…)

Avoiding Franchise Funding Mistakes – The Top 3 Pitfalls

avoiding-franchis-funding-mistakesA potential franchisee seriously interested in becoming an entrepreneur will take several demonstrative steps throughout the ownership process. In this post, we focus on the financing options available to the franchisee. It is our hope that you will be able to avoid potential mistakes and find a suitable solution which matches up perfectly with your own financial position.

Allow us to introduce to you the Top-3 Pitfalls of franchise funding. Take heart, because making the right decisions will illuminate a path to success and growth. A costly mistake could jeopardize your break-even possibilities and even hamper your effort to achieve viability in the marketplace. Some of what you are about to read is just plain common sense, but you may find just find the “gem that keeps you out of a jam!”

Pitfall Number One – “Pump Your Brakes”

You’ve spent the requisite time in choosing to meet with a qualified franchise consultancy like FranNet, whose sole focus is matching the right opportunity with the right option just for you. You believe in the franchise concept, and you did your due diligence through the Franchise Disclosure Document process. You have arrived at this point because you were both cautious and prudent with your time in researching the development of your soon-to-be franchise. It’s time to explore financing options, not hit the gas and floor it. Stay as focused and patient as you have been up to this point, never let your emotions override the necessity for exploring any and all financing options – even if you do feel close to the finish line.  (more…)

Small Business Payments Toolkit – Top 5 Takeaways

By Mary Hughes

Small Business Payments ToolkitThe Remittance Coalition has released the first volume of the Small Business Payments Toolkit, which is intended to encourage the adoption of electronic business-to-business payments and remittance information exchanges by small businesses.  Many small businesses continue to over-rely on paper checks, which are labor-intensive, expensive and prone to fraud.  The Remittance Coalition is a group of payments industry stakeholders (including Federal Reserve Banks) that works to increase the efficiency of business-to-business (B2B) payments made and reconciled by US businesses.  The toolkit provides a host of useful information that can be leveraged by small businesses, SBDC consultants and trainers, financial institutions, vendors, and anyone interested in learning more about payments.

Here are the top five takeaways from the Small Business Payments Toolkit:

1. Adopting B2B electronic payments and remittance information exchanges may make life easier for small business owners

Although it may not currently be a top priority, small businesses that choose to enhance the efficiency of their payments processes can yield benefits in a number of ways:  (more…)

Leave only green footprints: 7 ways to conserve at work

It’s not easy being green, or so we’re told, but take a look around your office and consider: How “green” are you?
It’s no surprise that an increasing number of companies are working toward becoming more environmentally conscious: constantly introducing programs to reduce both costs and their carbon footprint. Typical areas of opportunity are employee telecommuting, lighting, recycling and paper usage.
Here are some suggestions that you might use in your green movement at work:
1. Telecommute to reduce and produce
It could be argued that people working from home face more distractions and are often less productive. In reality, reports indicate that the opposite is true—not only does productivity increase, but there is often reduced stress on the employees. Gone are endless hours sitting in traffic, and the stop-go of a slow car creates a lot more pollution than a car that never leaves the house. And what does it mean to ROI? Well, for the company, approximately $11,000 per year per employee, in addition to the savings made by the employee, and the not-to-be-forgotten oil and greenhouse gas savings. And in case you need to ask, yes—I am sitting at home writing this, and it’s past 5 o’clock. How’s that for productivity?
2. Taper the paper
Here’s a fairly obvious one: use both sides of the paper when printing! Not only are you helping save trees but, from a dollar point of view, you are looking at a 50-percent reduction in paper costs. And don’t throw away those sheets with one blank side. Gather the half-used sheets together, put them back in the printer, and use the blank sides for printing draft copies of documents.
Only print what you actually need at the time—avoid the “I’ll print some spares ones…” attitude; extra copies may become outdated and are then wasted. Mixing paper with regular waste might leave it contaminated and unsuitable for recycling, so leave a dedicated paper recycle bin next to the printer and encourage people to use it.
3. Taking going green literally
You can promote a work atmosphere that’s healthier for mind and body by adding live plants to your workspace. Vegetation such as the Snake Plant needs little maintenance (water once a week) and, along with English Ivy, is extremely good at improving air quality. Gardenia‘s scent is purported to stimulate the brain — and is an attractive addition to the corner of a desk.
4. Equip to save
When purchasing new office equipment, be sure to check the operating costs. Even if a printer can only boast a small savings per page, those savings quickly add up when you consider the lowly printer’s workload.
And don’t skimp on the watercooler. Great tasting filtered water—the water people actually don’t mind drinking—will encourage people to stop wasting money on bottled water, reducing the need for those pervasive plastic bottles. Avoid stocking up on Styrofoam cups, which are particularly bad for the environment.
5. Food for thought…and productivity
Replace the buckets of candy on desks with buckets of organic fruit. The dropping costs of organic food makes healthy eating easier for the budget-conscious, yet still we snack on candy and other sweet goods that always make their way from the home to the office, especially in first weeks of November. Encouraging your staff to eat healthy can also help reduce the overall amount of sick time taken each year.
If you have vendors visit your business every day at lunchtime, talk to them about providing healthy eating alternatives to those always-available fudge brownies, and drop hints about supplying food in environmentally friendly containers.
6. More bins + less waste
Provide bins marked for recycle only. If your office is small, you might consider getting together with other nearby businesses to help with cost-efficient collection. GoDaddy even has bins set aside for batteries; usually thrown away but perfectly recyclable, you’d be surprised how quickly the containers fill when people drop in the odd AA every few days.
7. Encourage more time in the dark
Where possible, replace those energy-sucking light bulbs with more efficient ones. The initial cost might be higher, but long-term you’ll save. You might also swap out the regular light switches for those with the built-in motion sensor that will automatically turn off the lights after a set amount of time. Of course, if you are the type of person who sits motionless in front of the computer for long periods, this might mean you’ll occasionally have to stand and do the Harlem Shake until the lights turn back on. But then, a little exercise doesn’t hurt, once in a while.
Don’t be shy when it comes to spreading the word about your “green-ness.” It’s no surprise that companies actually gain respect for their green efforts, and a caring company is a beautiful thing to work for.
Organic food for thought.
Bio:

Peter Dillon was transplanted from Wales, UK, about 10 years ago and joined the GoDaddy family in 2010. He lives in Phoenix with his wife and cat, who adopted the couple last year and has allowed them to live with her since. A specialty trainer at GoDaddy, Peter loves education and enjoys being on both sides of the desk—knowing that there is not only always something to learn, but there is always something that can be taught. The world’s largest domain name registrar and Web hosting provider, GoDaddy gives small business owners the tools to name their idea, build a beautiful online presence, attract customers and manage their business. To get more tips for your small business—including articles, videos and webinars—check out the GoDaddy Training Hub.