Each year, tens of thousands of small businesses across the country apply for invoice factoring, according to the latest Fed Small Business Credit Survey. While the transition to factoring is typically seamless, it works differently than most funding solutions business leaders are accustomed to. Below,…
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…
There’s no shortage of financial challenges for small business owners. As soon as you tackle one thing, something new is sure to pop up. Whether you’re concerned about the financial challenges of rapid growth, lean times, or everyday startup woes, you’re likely to face the…
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…
As expenses rise and the economic climate shifts, profit margins are dwindling for small and midsized businesses across the country. While many have raised their pricing as a means of maximizing profitability, the approach can backfire and may not be right in every situation. In…
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of large, obvious assets, such as trucks parked for weeks or months on end, cranes that are no longer in rotation, or outdated production lines that are gathering dust.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…
Overhead is one of the most critical cost centers in staffing and is also one of the least understood. If you’re running a staffing company, you already know how cash-intensive it is to operate. You’re paying talent before your client cuts you a check. However,…
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…
We all chuckle at AI-crafted images that feature people with six fingers on each hand or, worse, feet where their hands belong, but the growth of AI, especially ChatGPT, is no laughing matter. In less than 18 months, the tool has grown from 100 million…
