America’s SBDC Blog

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Purchasing A Business With Help From The SBDC

June 11, 2018
Idaho Success Story –

Idaho Success - Snake River Travel PlazaAfter other buyers backed out of purchasing the Snake River Travel Plaza in Blackfoot, Idaho, Jace Katseanes stepped in to organize a purchase with Lori Cox as the manager and accountant. Having worked with the Southeast Idaho SBDC before, Lori knew who to call to facilitate the purchase.

“The purchase process was long and sometimes frustrating, but the SBDC helped us prepare financials and a business plan,” said Lori. “[The SBDC] stuck with us through the whole process.” That hard work resulted in a $3.15M SBA loan.

Jace and Lori turned the plaza around with their MMM Philosophy: a focus on money, management and marketing. This turnaround earned Lori a nomination for Woman Student Entrepreneur of the Year at Idaho State University. (more…)

The Tool Every Summer Business Needs to Get Now

June 4, 2018
By Connor Wilson –

Summer businessWhile summer won’t officially begin until June 20, the warm weather is already here and school is already out in most places. Depending on the type of business you run, this is either good news or bad news. Some businesses see significant dips in income in the summer months, while some seasonal businesses operate exclusively in the summer.

With millions of Americans preparing to travel, beautify their yards, or just head out to enjoy the season, this is the time for summer businesses to make money. For some, it’s the time to buckle down and strategize so their businesses survive the slow months. There are a number of strategies your business can use to stay afloat and continue to innovate, but one in particular is the tool that every summer business needs to stay on track and meet its goals. (more…)

5 Ways Business Credit Cards Can Hurt Your Credit

May 29, 2018
By Jason Steele –

Credit CardsCredit cards can be an indispensable tool for small businesses. These products offer companies a secure and convenient method of payment, while providing a valuable means of financing and being more readily available than other options like a small business loan.

But with a small business credit card, its balance and payment information will be recorded on the credit histories of the primary account holder, just like a consumer credit card. This isn’t a problem when your small business cards are managed responsibly, but it causes issues when they are are not.

Here are five ways that a small business credit card can hurt your credit. (more…)

7 Time Management Tips for New Business Owners

May 22, 2018
By Jennifer Lobb –

Time ManagementRunning a business is time-consuming work, and as a new business owner, time is exceedingly hard to come by. Though you may not be able to add an extra hour (or minute, for that matter) to your day, there are ways you can capitalize on, and make the most of, the time you do have. By following the seven tips below, you’ll be able to take charge of your day and manage your time in a way that improves both your productivity and state of mind.

1. List & Define Your Tasks & Goals

When thinking about time and how to better manage it, there are two dominating categories of obligations and to-dos and your list: operational tasks and business goals. Tasks are those mundane-yet-import requirements that happen daily, weekly or monthly, without fail. (more…)

Managing Sexual Harassment in Today’s Workplace

May 16, 2018
By ComplyRight –

Today's WorkplaceThe issue of sexual harassment in the workplace continues to attract extensive media coverage, as more victims are empowered to report misconduct against them.

Since the start of 2018 alone, the U.S. Equal Employment Opportunity Commission (EEOC) has filed or settled several high-profile sexual harassment lawsuits. Beavers’ Inc., which owns several Arby’s fast-food franchises, is among the latest companies to face the courts after the EEOC filed a lawsuit against them. The federal agency charged that the company broke the law when it subjected several teenage female employees at an Arby’s in Atmore, Alabama, to sexual harassment. (more…)