Recessions or economic downturns are just like death and taxes – they’re inevitable. They may not happen soon, but they will happen eventually. Smart entrepreneurs won’t just be aware of this – they’ll prepare for it. Here are 5 ways they should do so:
1. They Must Treat Their Networks with the Same Value They Hold Read More
If you are thinking about starting your own small business in the not too distant future, you have probably already begun to budget for the large and obvious expenses, such as equipment and rent. However, there are also a lot of hidden costs associated with starting a new company. If you aren’t careful, these expenses Read More
Having
a financial contingency plan allows a business to react quickly and more
effectively in times of economic uncertainty. In young businesses, it can often
mean the difference between the success or failure of the entire enterprise so
it’s an important consideration for an organisation looking to promote
longevity and sustainability of profits. Financial uncertainty can stem from
many different sources Read More
Starting your very first
business is never easy, as there is a steep learning curve. While learning from
your mistakes is part of the process, trial and error isn’t the only way to
glean useful knowledge and experience. Observing other people’s mistakes and
failures can also save you a lot of trouble in the long run. So, watch out Read More
When
you are trying to entice investors to put their money into your business, it
makes sense to make your organization look as attractive as possible. You can
accomplish this by following these five tips:
1. Keep proper financial records
Financial
records show the performance of your company and help investors gauge the
returns they can expect if they inject funds Read More
Fundraising
is a difficult task for many startups and small businesses. Due to the fact
that your business is essentially new, banks will usually be leery about giving
you a loan. This will usually force you into choosing alternative funding
options. However, if your circumstances demand a bank loan, the good news is
it’s far from impossible to get them Read More
For many entrepreneurs, the exit plan involves selling the startup when it is good and ready. The problem you face is figuring out when that time has arrived. Here are five signs your exit plan is good to go:
1. You Know What the Company Is Worth
If your exit plan involves selling your startup, then Read More
Most homeowners don’t worry about foreclosing on their home until it is too late. While nobody goes into purchasing their new family home thinking they’ll foreclose, it’s a good idea to consider the possibility. The following tips should help avoid foreclosure before it’s even a possibility.
1. Never Go over Your Budget
Know from the Read More
Small business owners selling their businesses make mistakes all the time. They end up making thousands less from their business for this reason. Fortunately, the kind of mistakes often made are ones that are easily avoided. If you always dreamed of building a business and then
selling it to retire, you need to know how to Read More
The business world can be quite cut throat; swallowing up corporations and spitting them out with some regularity. A new business can find it difficult not just to make a mark, but to survive as well. If you are a startup, here are four tips that will help you survive that crucial first year.
Dig in Read More
