Legal issues for small businesses are a growing problem. It’s now estimated that, if your business is earning under $1 million annually, you’re paying an average of $35 in tort costs per $1,000 of revenue, according to the Institute for Legal Reform. These are only…
Age diversity is one of the most overlooked competitive advantages in business. Each generation brings something unique to the table, and when those strengths come together, your team becomes more adaptable, creative, and resilient. However, synergy doesn’t always come naturally, and you’ll likely have to…
Over 60 percent of businesses report being the target of scammers, according to Better Business Bureau (BBB) polls. Nearly three-quarters of those who say they’ve been scammed report losses of $250,000 or more. Small businesses are often the preferred targets, with reports of some forms…
Did you know that 82 percent of small business failures can be traced to cash flow issues, per Forbes research? Meanwhile, more than half of all small businesses say uneven cash flows are among their top challenges, per the latest Small Business Credit Survey (SBCS)…
One of the biggest questions people have when they first start factoring is: “Is invoice factoring worth it?” And the simple answer is that, for most businesses, it absolutely is. Factoring accelerates cash flow like no other tool can and helps businesses avoid taking on…
Did you know that just two in five small businesses that apply for funding are approved for all the funding they seek, according to the latest Small Business Credit Survey? Nearly a quarter are completely denied, and the rest land somewhere in between; in that…
Most businesses hit a sales plateau at some point. Maybe you’re seeing a flatline in growth, or even a downward trend. This often happens because you’ve reached a ceiling on what you can accomplish with your existing tactics and tools, but it doesn’t mean you’re…
When people hear the terms “surplus equipment” or “unused equipment,” they often think of large, obvious assets, such as trucks parked for weeks or months on end, cranes that are no longer in rotation, or outdated production lines that are gathering dust. But surplus equipment…
Organizations that consistently develop negotiation skills improve their financial outcomes by roughly 30 percent compared to their peers, according to McKinsey research. It makes perfect sense, considering that negotiation touches nearly every part of running a business, from finalizing supplier agreements to setting the terms…
You probably didn’t mean to overstock. Maybe you were preparing for a surge in demand, a customer delayed a large order, or your procurement team was trying to lock in better pricing. Surpluses have a way of sneaking up on businesses and holding working capital…
