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6 Confusing Small Business Loan Terms Defined

September 4, 2018
By Megan Tyler –

LoanGetting a business loan can be tough. You know the ins and outs of your own business, but you might not know how to get the funding you need. To make matters worse, small business lending is full of confusing financial lingo that you may not understand. If you need a crash course in business lending lingo, here’s a quick rundown of five confusing small business loan terms.

APR

You see APR everywhere when applying for financing, but you might not remember everything that goes into calculating the APR for different types of financing. APR stands for Annual Percentage Rate, and it estimates the overall annual cost of a loan including fees and compounding interest. (more…)

4 Lessons Your Small Business Can Learn From the Big Mac

August 27, 2018
By Linsey Knerl –

Small business ownerThe Big Mac – the special burger from McDonald’s that features “two all-beef patties, special sauce, lettuce, cheese, pickles, onions and a sesame seed bun” – is almost as much of an icon as the fast-food chain itself. While the world is pretty much split on the one-of-a-kind sandwich (the sauce has a way of being fairly polarizing), no one can deny that it’s an unchanging staple that’s been branded into our culture.

The sandwich is 50 years old this year, proving that some things are still a good idea half a century later. Here are some other hard truths about its success for small businesses that cannot be ignored. (more…)

From Hobby to Growing BBQ Business

August 20, 2018
Success Story: Idaho

Pitmaster BBQRob Harding spent 25 years in healthcare administration. He turned his love of good BBQ into a hobby, then into a thriving business.

At a wedding reception catered by Rob, his BBQ ribs received rave reviews — from guests who happened to be judges from the Memphis of May International BBQ contest. He began entering BBQ competitions in 2008.

After winning many awards, he opened an Idaho Falls restaurant in 2012, where they make everything in-house every day and serve high-grade meats cooked low and slow over real wood. This commitment to quality has made Pitmaster BarBQue Company the most awarded BBQ restaurant in Idaho. (more…)

What Small Businesses Should Know About Tariffs

August 13, 2018

(Updated September 19, 2018)

By Peter J. Cazamias, SBA –

Recently, the United States Government announced several new tariff increases. The U.S. Department of Commerce implemented tariffs on steel and aluminum imports for national security reasons. Separately, the U.S. Trade Representative (USTR) announced tariffs to combat unfair trade practices on certain Chinese goods. Additional tariffs on a larger list of goods from China are expected in the future.

Small businesses should become familiar with what imported products are impacted, to make informed business decisions as tariffs could increase the total cost of certain imported goods. (more…)

Labor Law Postings: 5 Things to Know When You Have Remote Workers

August 6, 2018
By ComplyRight –

Remote WorkerIf you find employment laws confusing, you’re not alone. The 2018 National Small Business Compliance Pulse Survey, sponsored by ComplyRight, revealed that small business employers continue to be troubled by the increasing complexities of employment laws. According to the study, managing federal, state and local laws is the top concern among employers.

Employment laws are confusing. And one example is how labor law postings impact remote workers. You probably know you have to display current federal and state postings (and in some cases, city or county). But what about telecommuters? How are these employees supposed to receive this information? (more…)