America’s SBDC Blog

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Mastering Financial Literacy: A Guide to Making Sound Financial Choices as a Business Owner

March 21, 2023

It’s estimated that the average person makes up to 35,000 decisions a day. If you’re a small business owner, you’re likely making thousands more than that — and some of those decisions can either make or break your business. Arm yourself with financial literacy for business owners to ensure every decision you make brings your company closer to success.

What Is Financial Literacy?

Financial literacy is the continued learning and understanding of money management best practices, including budgeting, investing, and saving. It’s a crucial process of self-education that sets you up for financial stability and success, and it applies to both business-related and personal finances.

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Happy #SBDCDay!

March 15, 2023

As small business owners navigate an ever-changing landscape, Small Business Development Centers (SBDCs) continue to support and elevate their clients through innovative at-cost training programs and free advising strategies. Nearly 1,000 SBDCs can be found across the United States and its territories, serving clients virtually and from their centers in host institutions like universities and chambers. Whether SBDCs are serving rural America, addressing a solution in fintech, or helping a millennial woman-owned business expand to global exporting, SBDCs are at the forefront, assisting their clients at every step. Don’t miss the new America’s SBDC Annual Report to read about hundreds of small businesses and how their small businesses thrived with the help of their local SBDC.

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Starting a Food Product Business in 8 Steps

March 14, 2023

Starting a food product business can be an exciting and challenging venture. There are several steps involved in the process, which we will outline below:

Step 1: Develop Your Product Idea

The first step in starting a food product business is to develop your product idea. Consider your strengths, interests, and passions. Conduct market research to determine if there is a demand for your product, and if there is already competition in the market. You can use online resources, such as Google Trends and social media platforms to gather information on market trends, and learn about what customers are looking for in food products. Identify what makes your product unique and why it will appeal to customers.

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SMB Hacks: Five tips for finding the right digital payments solution

March 9, 2023

Want to grow your business? Think outside the cash box.

Freedom, work satisfaction and flexibility are just a few of the many reasons small business owners take the leap to follow a dream. Rachelle Gonzalez, founder of Taco Shelly’s in Bethlehem, PA, had reached a turning point in her restaurant career. Her role in management left her feeling dissatisfied, often frustrated. She missed the camaraderie of the bar and being responsible for her own work ethic vs. that of others.

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Should you choose a digital or traditional bank account?

February 23, 2023

A business bank account is a critical component for any business owner. It creates a separate place for your business finances and transactions to live, which makes it easier to manage your financial records, and ultimately stay organized. If you’ve started researching business bank accounts, you may have noticed that there are a wide range of options, from opening up an account where you personally bank, to opting for an online business banking solution.

If you’re choosing between a (likely cheaper) online bank and a traditional, brick and mortar one, then this article can help you weigh the pros and cons of both so you can make an informed decision.

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