This business week article discusses how to build a good credit history and a credit line once you restart your small business after declaring bankruptcy. The key take aways are – Approach lenders at community banks who evaluate your application by sitting down and talking with you, looking at…
Wall Street Journal has a good set of articles in their How to Guide for Small Businesses section. Here is an article on how to choose a bank for your small business. Most small business owners have an option of choosing between a large national bank and a small…
American Express today announced a new solution for online invoicing and payment. There is a short video on the Open Forum website explaining the solution. AcceptPay is an online invoicing and payment solution that offers simple, automatic invoicing and tracking, as well as multiple payment options – major credit…
In this article I will explain the standard terminology used to describe early payment discounts. I will then present a simple approach towards deciding whether to use early payment discounts. What does “2/10 net 30” mean? Early payment discounts are often described using a phrase like “2/10 net…
Cost of money refers to the average interest rate at which you are able to borrow money. Think of the cost of money as the rent you have to pay for using someone else’s money. Yes, there is a cost of money even if you are using all…
Here is a set of 7 tax tips for small businesses – from American Express open forum Pay out the bonus/commission related accrued expenses before March 15th to recognize them for tax purposes. Utilize the up to $250,000 tax deductions on capital expenditure (Section 179) Hire a tax specialist…
Wall Street Journal reports. …customers contest a charge on their credit card, often claiming that the item was never delivered or they never bought it. Credit card companies charge merchants a fine—typically up to $100 per chargeback—which can be costly when coupled with the lost sale and the…