8 Things Small Business Owners Need to Know About Finance

Managing Finances for A Small Business

Figuring out how to manage finances is one of the most challenging things you’ll face as a small business owner. Often, people get into the business world because they have an exciting idea or product to share. The chances are that you won’t have a lot of experience with accounts, taxes and cash flow too.

While learning as much as you can about money matters can seem like an exhausting process at first, it’s something you can’t afford to overlook when you start bringing your company to life. Knowing these 8 simple things about finance will help to keep your organization on track.

1. Sometimes You’re Going to Need a Loan

When you first launch a business, sometimes it’s tempting to try and do everything by yourself. The last thing you want is to be in debt before you’ve ever started making a profit. However, the truth is that most people simply don’t have the capital required to handle the demands of a business without a little support. A loan can be the most useful tool you have when it comes to starting your business, and even overcoming cash flow problems. Just make sure that you compare your options so you can ensure you’re getting the best interest rates.

2. Have a Billing Strategy

No matter how good you are at staying on top of things like cashflow, there’s nothing to say that your clients will be just as efficient. Most companies will have at least one customer that always seems to be late when paying their bills. Too much cash tied up in your unpaid invoices can quickly lead to cash flow problems. With that in mind, it’s important to make sure that you have a billing strategy in place. The good news is that there are tools online you can use to automatically invoice clients and send them reminders when they’re late.

3. You Need to Pay Yourself

When you’re running a small business for the first time, you might find yourself trying to put everything you earn back into the company. Any extra capital is a great way to help your business grow, but you also need to look after yourself and your family too. Remember that you’re playing an important role in your company, and you deserve to get paid for your work. Don’t focus on everyone else and forget to look after yourself.

4. You Need to Spend Money to Make It

This phrase might sound like a cliché at first, but it’s true. If you want to make real progress in any industry, then you need to be willing to invest in yourself and your business. With that in mind, make sure that you take risks from time to time, and invest in your growth. This could mean that you need to take an extra loan out at some point so you can afford to buy additional equipment, materials, or pay for staff, but a good risk analysis will help you to see if it’s worth it in the long-term.

5. You Must Remember to Look at ROI

Speaking of investing in the long-term, it’s a good idea to have a way to track your return on investments. Every time you start pouring money into projects for your business, make sure that you set up a measurement system that will show you which of your strategies are good for your future, and which might not be worth the effort.

6. You Need to Constantly Monitor Your Books

Monitoring your books might be an obvious task for financial health in your business, but it’s something that people often forget that they need to do regularly. If you’re the kind of person who might leave managing cash flow to the end of the month, try setting up an hour in your schedule each day where you can look at your incoming and outgoing expenses and make some crucial notes. The last thing you want to do is neglect your accounts.

7. It Helps to Establish Good Habits

Make sure that you do everything you can to develop good financial habits – even if it just means that you block aside some time at the end of each week to check that everything is running smoothly in your business. Running a small business often leaves you strapped for time, but your financials aren’t something you can afford to cut corners on. Start building good habits for your finances now.

8. You May Need Help

Finally, don’t expect to become a professional accountant overnight just because you’ve decided that you want to run your own business. If you don’t know anything about taxes and deductions, and you don’t have time to learn, then invest in an accountant or bookkeeper to help you. You’ll thank yourself for it in the long-term.

 

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Tips for Saving Money on Your Taxi Insurance

Getting the best deal for your money is something we all strive for, particularly when looking for insurance. As a taxi driver, you probably encounter many claim-worthy situations in your day-to-day but, at the same time, you may never actually need to make a claim on your insurance. This presents a worry when it comes to both over-insurance. Having said that, it will pay in the long run to have comprehensive cover and protects you against a wide range of possibilities, from accidents and damage to your vehicle, to injuries suffered by both yourself as a driver and your passengers or pedestrians.

When searching for a quote or trying to find a cheaper premium for your taxi insurance, you need to think of all the steps you can take to reduce costs.
Here are a few tips you can take on board when searching for cheaper taxi insurance.

Choose a Less Risky Car

As you will know, the type of car you use as a taxi can significantly influence the cost of your insurance. Insurers calculate the costs of your insurance by working out the risks presented by each type of car. For example, cars with powerful engines that have a history of being in accidents will cost a lot more to insure than smaller-engine cars.

Therefore, if you drive a car that has less risk of being in an accident you will pay less to insure it. Although it may be unavoidable in certain circumstances (you may be assigned a particular make and model depending on the firm you work for), it pays in the long run to have a car that is less expensive and less powerful.

Have Experience & A Clean Record

Drivers with clean records will pay less for their insurance. Obviously, a clean driving record proves that you are a safe driver and unlikely to influence an accident through your driving skill. Anything from points for speeding, driving under the influence of drink or drugs, or any type of criminal conviction will have a huge impact on the price you pay for your taxi insurance.

Similarly, your age will influence the price of your premium. Those under the age of 25 will find it a lot harder to get cheap taxi insurance than other age groups. Unfortunately, the statistics show that people under 25 get into a great many more accidents and therefore present greater risk on the road. These risks are compounded further by the fact that taxi drivers are on the road a lot more than standard motorists.

Use Telematics to Prove Safety

Nowadays, there is technology that can be put in place to prove to your insurance company that you are driving safely, thereby presenting less risk. You can put a black box tracker in your car which can record information about the state of your driving, including speed, braking distance, and how quickly you take turns.

All this information presents a clear picture of your driving ability to your broker, giving them the opportunity to revise the cost if your taxi insurance premium to go in line with your risk.

Change Your Excess

Your excess refers to the amount you would have to pay out in the event of a claim. If you increase your excess then you will more than likely pay a less expensive premium, however this could end up costing you quite a lot if you do get into a situation where you need to make a claim. It might be worth looking into this, however it pays to be mindful.

Be a Named Driver

If you work for a company and drive the same vehicle every single day, it might well be worth getting named driver cover as part of your overall taxi insurance policy. If drivers are named, then the insurance companies have a very clear view of the risks of each driver and each car.

This is particularly useful if you have a good amount of no claims bonus as it means the savings can be passed back along to yourself.

Make the Move to Electric

Electric vehicles are becoming more and more popular with drivers across the world. They can benefit both the environment but also your pockets! They are generally cheaper to repair than other cars with standard fuel, they actually cost less to insure.

Although they are not as widely-used as they may be over the coming years, it could be a good idea to get ahead of the game and start driving electric.

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The Benefits of Having a Personal Loan: When Do You Need One?

 

There is nothing unlimited in this world. All things are finite, be it the material things or the ones that are more metaphysical. Because of this fact, we need to find ways on how to avoid becoming short of the things necessary to survive, grow, and thrive in this life. So save time by knowing where to go for what you need.
Not having enough of something we need to expand our life style or cause, constraints us from being more productive, and it stops us in our tracks from improving our standard of living. One of the best examples of this issue is not having enough money, or a project being under-capitalized.
We all know how limiting this feels, however, not to worry because there are personal loans that are specially designed to save the day, and your time.
In this article, we’re going to talk about the benefits of having one. We’re also going to tell you when is the perfect time for you to get a personal loan. Once you’re done reading through, you’ll find it easy to compare the best personal loans available.

 

 

Easy Application Process

One of the best things about personal loans is that they’re easy to get. They are different from other loans because the process of applying for one isn’t that complicated.

There are even some personal loans that will only take you as little as 24 hours for you to get the money. That’s how cool these loans are, making them perfect if you need to have emergency funds ASAP.

Few Documents Required

Another cool thing about personal loans is that you don’t need to present a lot of documentation. This is what makes this type of loan fairly easy to get.

Compare that to the piles of documents required in getting a car loan or a home loan. There are some personal loans that only require you to submit a few basic documents, just like your proof of income and proof of address.

This is one of the reasons why most people prefer applying for personal loans. There’s much less risk involved in the part of the lender, that’s why they don’t need a lot of documentations.

loan application in business folder showing financial investment concept

Multipurpose

Personal loans can be used for a wide variety of purposes. The money might either be used for emergency reasons such as medical and miscellaneous expenses.

Or you might need it to fund your latest home improvement endeavor. You can also use it to upgrade your car or to buy the latest gadgets.

Whichever you want, you have the freedom to spend it on whichever way you like. The flexibility of this type of loan is what makes this a perfect choice for people who need money to fund whichever project they need to spend it on.

No Collateral Needed

You don’t need to worry a lot if you’re unable to pay your personal loans. Why? It’s because there are no collateral needed.

The collateral is the asset or property that you’re going to surrender to the company if you are unable to repay the loan. In the case of personal loans, you don’t need any of those.

This makes it a very attractive choice for borrowers because there’s no risk of you losing your properties.

Shorter Loan Tenure

Compared to other types of loans, personal loans usually have a shorter amount of loan tenure time. There are personal loans which can be repaid in as fast as 12 months.

However, if you need more time to repay the loan, you can opt for the ones which have a longer tenure time. There are those that can be repaid for as long as 60 months.

The Perfect Time to Get a Personal Loan

The perfect time for you to get one is if you are avoiding risking a large or valuable asset. Remember, you don’t need to offer any collateral when applying for a personal loan.

This makes sense if you don’t have any assets to use as collateral. These personal loans also have a far smaller interest rate compared to other loans. So if you want to save up on interest, then this is what you need to get.

 

Final Thoughts

Having a personal loan is indeed the best way to borrow money. Not only do you not have to risk any property, but you also get to save money thanks to the lower interest rates. You also have total control as to when you want to pay it because you can pay them within a year or as long as 60 months.

With all of these being said, having a personal loan is indeed one of the best, if not the best way to acquire and borrow money to fund whatever endeavor or project you need to spend on.

 

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Best Email Marketing Strategies to Boost Your E-Commerce Conversions

The Personal Human Touch

Recent developments in technology have contributed to boosting up the industry vertical of e-commerce websites to a great extent. However, with extensive growth in the e-commerce business, it has been closely observed that the human touch gets missed by the users in their buying experience. Users usually do not have access to communicate with any physical entity while buying products online that restricts them with their buying choices in more than one ways.

We have seen that e-commerce drives online sales, but an online store without a proper email marketing support lacks sales enablement. Email marketing conversation keeps the e-commerce store alive and relevant for the customer. The biggest challenge that businesses face while applying email marketing strategies to accelerate their e-commerce conversions is that the control of the email communication between a brand and the customer is always in the hands of the latter. Let us look at some of the ways following which one can get over with such challenges in a smooth manner, and get maximum business benefits with e-commerce.

Choose a Catchy and Attractive Subject Line

You might have heard the term that first impressions are always the last. Imagine your users working on their desk, and an email message pops up on their smartphone featuring your best offers of the season. Putting up the same in front of them in the best and most creative way would be the key to pique their interest in focusing on your mail. Choosing a perfect subject and preview line is always crucial to creating an impactful impression over your customers. Not only that it attracts them more towards your brand, but it also strengthens their trust towards your brand offerings.

Make them Open your Mail

There are tons of promotional emails that a customer receives on a daily basis on their email accounts. It is not necessary that they are going to open each one of them. In fact, there are many emails that directly go to the spam folders to never to be explored by them. How should you manage to convince them to open your promotional mail? With an attractive subject line already in place, an effective preview text is highly crucial for grabbing their attention in the space of just a few seconds. Optimize your preview text to establish further communication with your customers make a big difference.

Lock the Attention of Your Customers

If you want your customers to act on your emails, you must have a clear strategy to increase their curiousness to catch a certain offer that you are throwing in their court. To start with, address the consumer in a personalized manner to establish an emotional link with them in the first place. In your email content, the learning quotient must have a powerful convincing and explanation power to enable them to understand the offers and drive their learning towards your brand in a crystal clear way. You can also present the content with the exact quantum of cost value to entice them towards taking definitive action.

Use Special Occasions for Your Advantage

Holidays and festivals bring with them an air of positivity and eagerness to purchase new items. Creating your email campaigns revolving around holiday season themes can make a whole of difference for your email marketing success. Research data has clearly shown that during the times of Christmas, New Year and other big occasions, big portions of sales are directly driven by the customer traffic attracted by email marketing campaigns. Incorporate this fun email marketing strategy in your emails to get instant positive results to boost up your e-commerce sales during the times of holiday seasons.

Start an email Series

Make it a fun experience for your customers from the very beginning by attracting your visitors with a series of email campaigns. As a welcome gesture, offer them lucrative discounts to build strong relations and boost your conversions. Besides highlighting your brand best features, it also works as excellent advertisement support for your brand. Make email series post-purchase including information related to shipping, and other tracking details. You can also ask your customers to put their valuable feedback once receiving their products to encourage them to stay on your website for a prolonged time and build your brand trust in them. A series focussing towards asking your customers to shop back and rewarding them to stay with your brand for a long time would further play a decisive role to boost up your sales.

Make Your Promotional emails more Personalized

Using personalization in your email marketing would be a sure shot way to enhance your e-commerce sales. However, you do not have to fake familiarization by addressing your clients with their personal nicknames. Sending bespoke content suiting the individual needs of individual customers would lead to greater traffic on your website. You can start using this strategy by segmenting your custom preferences on the basis of gender. You can also take assistance from previous interaction with your targeted customers that will make it clearer to you about their individual preferences. Analyzing the past purchased products by your customers shall also enable to create a better and compelling email framework for increasing your sales. There are better chances that the customers would likely buy any item that is similar or complementary to what they have purchased in the past.

Keep Your Call to Action Catchy

Having an impactful call to action display encourages your customers to click on the same and enter your website to further move towards making an effective purchase. Design your call to action message visibly attractive, legible and powerful. Having provided an impressive call to action is as important as detailed information related to yourbrand offerings and offers. You can use unique color scheme related to the color of your brand logo and website for the style of your email. You don’t have to make its size bigger than the other content, but the use of right color, button shape, and a catchy line would do the trick.

Redirecting the Audience to Your Website’s Landing Page

It is absolutely essential for your marketing team to put a link of your landing page in your promotional emails. No email marketing is complete without directing the audience to your landing page. Ultimately, your end goal is to enhance your online purchase that creates the necessity to put a clear direction sign for your customers to visit your main website or any important landing page with a dedicated link mentioned below it. If you are sending these emails for a special purpose or occasion, it would become easier for your audience to explore the page by putting a link for them.

Increase Click-through Rates with A/B Testing

The technology related to A/B testing refers to creating more than one title for the subject line of your email. Analyze your conversion rates with the emails and understand which of the emails scored better than others for increasing your sales. In order to achieve positive results out of this, you must send several emails and observe how many customers subscribed to your services after reading which of these emails. To achieve better clarity over the concept, hire an expert digital marketing company with SEO experts to incorporate this attractive technique in your email marketing in a better way.

The Power of a Thank You email

Your work doesn’t end with selling your products to the customers. They have spent their hard-earned saving on your items that need to be acknowledged to establish a lasting relationship with them. You can do so with a thank you mail to individual customers listing the items that they purchased along with links of related items, additional offers, any special offers on the items of similar genre. You can also ask them to review your products after a while to remind them about the special offers that have been running on your website at the current moment.

Remind the Customers to Finalize their Purchases

There are times that customers add their items in the cart but forget to purchase due to different personal reasons. Send them a reminder mail to make the purchases, and the chances that they are going to perform the action become better. Make the email attractive by posting the items to-be-purchased in your email that would invariably lead them to complete the final step of making the purchase.

At the end of it, it all comes down to the knowledge that with the recurring developments in technology, man is turning into machine, and machine is turning into a man. With a great amount of work performed by the machines, a lack of human interface is quite visible when it comes to e-commerce business interactions. Humanizing e-commerce through great content-driven email marketing campaigns would give a definite boost to your lead conversions over your e-commerce websites.

Author bio:

Being a senior business associate, Peter Davidson strives to help different brands and startups to make effective business decisions and plan effective business strategies. With years of rich domain expertise, he loves to share his views on the latest technologies and applications through his well-researched content pieces. Follow him on Linkedin and Twitter.


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Transferring Your Skills Into Income

 

Earning extra money on the side has rapidly become the mainstream whether through the gig economy, consulting, or side hustling. In fact, nearly four in 10 Americans have a side hustle, according to Bankrate.com. And while you could just do some odd jobs here and there to earn extra cash, you can take it a step further and transfer your skills and interests into sustainable, consistent income. The trick is figuring out your strengths and skills and identifying the right opportunities along the way. Here’s how to get started.

Play to Your Strengths

Just because your former colleague is making a killing at project management doesn’t mean it’s necessarily a good fit for you. Take an assessment of your strengths from organization to leadership and start brainstorming ways to transfer those skills into income. For example, someone highly skilled at marketing and promotion may be well suited to help online entrepreneurs launch their info products. Another idea is to walk budding business owners through the process of gaining organic promotion through outlets like Instagram. The more you can focus on your natural superpowers in business, the more likely you are to find the right work opportunities.

Research Opportunities that Fit Your Skills

Of course, making up a list of strengths doesn’t always reveal a clear path to income generation. This is where researching existing opportunities from franchises to direct sales businesses comes in. Consider where your skills and strengths lie. If you’re skilled at sales and networking, selling products could be a perfect fit. Meanwhile, a passion for creating healthy snacks and smoothies while running your own team could lead to a franchise opportunity. It’s always wise to really research the validity of those companies — from Amway to Smoothie King — to find the best fit. Always look for proven business models with a track record for success that fits your schedule and lifestyle.

Keep it Flexible

It can take some time to match up the right skills with an ideal opportunity. While you launch that side business selling products to consumers to flex your entrepreneurial sales muscles, look for new ways to improve your business skills along the way. Take online classes or courses at community centers and stay flexible to new ideas and interests. You might discover that your interest in sales pairs well with your interest in healthy living and teaching others about the products you love to use.

Shadow a Mentor

Partnering with a mentor is also a powerful way to identify your skills and find a path to income. Ask a former colleague, supervisor, or someone in your community to help you on your journey. Make sure to choose someone who has proven success in areas you’re interested in. Try meeting once or twice a month and working through your ideas and questions. Your mentor can help identify how your skills in bookkeeping or copywriting can directly lead to opening your own business or consulting on the side. From there, you can work with a mentor to figure out how to fill in the gaps from start to finish.

Ask Your Network

Your own network has valuable insights to your skills and strengths. Meeting up for a coffee date with a friend or colleague and asking for help in identifying your skills and brainstorming income opportunities can spark new ideas. You may discover that you never thought much about your ability to come up with ideas quickly and how small businesses would value that skill in marketing and advertising.

Your skills are valuable with the potential to make real money, but it can take a little detective work to put all of the pieces together. Start by playing to your strengths and researching proven business ideas and models to help put money in your pocket.

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A Budget Business: Online Ventures to Start with Zero Money

Is an OnLine Internet Business For You

Unlike with a bricks and mortar store, an internet business doesn’t necessarily require a substantial amount of capital for you to get started. If you have a computer, a hard work ethic and a good online business idea, you could soon be making a superb annual revenue. If, however, you are stuck for ideas and are looking for a light bulb moment, here are some online ventures to start with zero money.

Drop Shipping

The beauty of drop shipping is you don’t need to have cash in the bank to sell high-quality products to your customers.

For example, you will not need to purchase a large inventory of products, as you will only buy an item from a wholesaler when a customer places an order on your website.

Plus, as they will keep the products in their warehouse and will process a delivery to a customer, this can reduce your overheads even further.

You will, however, need to find the right product to sell on your website to make a great profit.

For example, if you want to develop an e-commerce clothing brand, you should find reputable t-shirts, trousers and hoodies suppliers, which could cater to consumer demand.

 

Digital Information Products

An internet business also allows you to sell digital products, which should provide your customers with value for money. As you’ll have no physical products to sell, you will not need to worry about manufacturing, warehousing or distribution.

You can, therefore, create information products for free, which you can then sell for a fixed price to a customer.

Some of the most popular digital information products include:
  • eBooks
  • Travel guides
  • A recorded webinar
  • Videos
  • An audio interview
  • Instructional booklet

It is, however, essential to make sure the digital product is both engaging and useful to generate a sizable amount of sales.

An Online Consulting Business

If you have extensive experience in a field and believe you have considerable knowledge you can pass on to others, an online consulting business could be an ideal option.

It is easy to get started, as you will need to set-up a website, identify a target market, set consultancy rates, and start networking in your industry to attract clients.

It can be a rewarding online venture, as it will enable you to earn a living while passing on your expert knowledge to other professionals, which can help them to excel in their chosen field.

Video Monetization

There are many online video publishing websites that allow you to monetize your videos, such as YouTube. If you can produce high-quality, informative, or entertaining videos on your smartphone or computer, you could earn a substantial profit.

Profitable YouTube video ideas can include:

  • How to videos
  • Cooking videos
  • Gadget reviews
  • Book reviews
  • Online tutorials
  • Blogger interviews
  • Fitness videos
To start monetizing your videos, you will need to link your channel to Google AdSense, and you’ll make 68% of the ad revenue. If a user watches 30 seconds or more of an advertisement, you’ll receive around $0.18 for the view, which can amount to a hefty sum over time.

 

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Things You Should Know About Buying a Franchise

5 Things That You Should Not Ignore When Selecting the Right Franchise

 

There are thousands of franchise systems today to a point that business owners are confused on which one to buy. The basic factors to consider should include; cost, lifestyle, and skill set although you may consider other things. Despite all these, there are things that you should never ignore no matter the industry.

  1. Consider What Motivates You

We all have different things that motivate us, and you may want to buy a franchise in order to have a more comfortable life. There are franchises that will fit an eight-to-five job, there are those that will fit round the clock and there are those that will fit working at some specific times. Consider what motivates you before getting a franchise.

 

  1. The Size of the Territory the Franchise Covers

As a business or a startup owner, you need your business to grow over time. You do not expect to be stagnant, and that is why you should never ignore, the size of your territory. Some franchises are limited to regions, others to square mile while others are limited to single towns. Be well informed about the territory the franchise you are planning to buy is limited to.

  1. The Opportunities in a Specific Location

Never ignore what is in a name and do not be carried away by the highly rated opportunities. Remember you need to consider what is of great importance to you as a business owner then focus on it. Popular brands come with a cost which maybe too much for you for a start. Check out the franchises that are not in that specific area instead of focusing on big brands. You could find one of the best business opportunities in this.

 

  1. Your Comfort with the Franchise

This is a business that you will be engaging in most of the times and in every job, you need to be happy. Never ignore the comfort you get when you are choosing a franchise. You do not want to be unhappy every time you are working or you think about it. The Franchisor’s culture is wide and thus you should find one that you are comfortable with.

 

  1. The Final Cost of Making the Franchise Profitable

Cost is always a factor in most investments. There is what it costs to buy a franchise, and there is what you invest to make profit. Never ignore the final cost of making your franchise profitable as this was your initial mission. Get all the costs involved from the franchisor and work on your budget. When you decide to run your own business, you need the best franchise for that. No matter the industry you are venturing into, cost, your comfort, your motivation and the opportunities at hand should not be ignored.

 

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How Hard Is It to Get a Business Loan?

Small Business Loans

While getting a small business loan may not be easy, the fact is, small business loans are not as difficult to qualify for if you get the facts straight. It just takes knowing where and how to look. With the right tools in hand, most small businesses can find the money they need, but there are some things you need to know first. Whether you are an entrepreneur seeking money for a startup or a business that’s hit a rocky patch, there is money out there waiting to be borrowed, you just need to know how to find it. So then, how hard is it to get a business loan? It can be easier than you think. Consider the following.

Leave History in the Past Where It Belongs

A great number of business owners are reluctant to apply for business loans because historically any business with less than perfect credit was in danger of being denied. That further endangered their credit score because every time your credit score was searched by a creditor, you’d take what is known as a soft hit (soft inquiry). No, one or two soft hits won’t affect your credit much, but repeated soft hits will indicate to a prospective lender that something is wrong, and they may summarily deny you credit. However, that’s the past and let’s leave it where it belongs.

New Trends in Lending

Today’s lenders have much broader qualifying criteria, and this is why getting a small business loan may not be as tricky as you had been led to believe. Some lenders don’t even look at your credit score, believe it or not, because there are other things they are much more interested in. Your historical record of sales volume, for example, could be a major factor to some lenders. Perhaps your business model could be a significant factor for startups. Remember, like insurance, lenders consider risk before forking out the cash. Also, there are new types of loans which were not available only a decade or two ago. Invoice factoring is one such loan that is becoming much more prominent in recent years.

The Key to Finding the Right Lender

Unfortunately, a huge part of the problem is the amount of time it takes you to find the lender that has a loan based on your needs and who are willing to lend under your business’s conditions. Every application you make not only takes up the valuable time you could be spending working your company, but it also, as you remember, puts a soft hit on your credit report. Today there are loan search engines like that on https://www.lending-express.com that will match your needs with an assortment of lenders meeting your criteria. You can then choose to apply to one or all of them, but the footwork is done for you so that you can go on about the business of making money. That’s what you are in business for after all, isn’t it?

The key takeaway here is that there are lenders out there that will willingly take a chance on your business venture and while each lender sets its own standards, that loan may be easier to find than you think. Even so, do it the smart way. Begin by using a loan-matching platform that will put you in touch with at least a few lenders who may take the risk. One final point to remember is that you never want to pay for this service. Like the company mentioned above, no fee should be attached to the borrower. Let the lender handle that and you are good to go. Let them pay the commission! That loan is waiting, so go for it!

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Useful Tips on How to Thrive as a Rideshare Driver

The New Way to Get Around and Make Money

We live in a world where cars are an important mode of transportation for many. A great majority of individuals own cars but most of them would rather take a cab than drive in our ever-busy roads. So, if you love driving, you could really make some good money being a rideshare driver for celebrated companies like Uber and Lyft.

Uber and Lyft are quickly gaining popularity and people are no longer interested in the traditional taxi companies. This is because Uber and Lyft are giving customers excellent services at affordable rates. In addition to this, customers these days are sure that no matter what time of day or night, they can grab an Uber in a matter of minutes.

It’s clear as day that customers across the globe are happy and satisfied with the services they get from Uber and Lyft. So, let’s turn the page and focus on the drivers who make these journeys a success. Most people are asking for tips on HOW TO BECOME A RIDESHARE DRIVER .Well, here are a few basic requirements that you need to fulfill for you to be a rideshare driver.

  • Pass a driver’s test – This goes without saying; for you to be a rideshare driver, you must be a licensed driver. One of the most important things that will give you a good start will be a valid driving license. In addition to this, for you to become a Lyft or Uber driver, you must be at least 21 years of age and have a clean record. The two companies are well respected across the globe; so if you have any cases of traffic rules violation like a DUI, or other criminal offences, you might not pass your driver’s test.
  • Make sure the condition of your car is good – There are certain specifications that a rideshare car should meet. For example, your car should have 4 perfectly working doors, clean and functional seatbelts, windows that are easy to roll up and down and a working A/C. All the car lights, the engine, the body, the horns, you name it… they should all be in perfect condition. And mind you these are just but a few of the requirements; so take time to research on the issue and make sure that your car meets the set standards.
  • Send in an application for the job –It is easy to apply for a job as a Lyft or Uber driver. Just download the app on your smartphone. Fill in all the required information including your full name, physical address, email address, the city you are living in and your phone contacts. Using your information, the company will run a background check on you and if you are fit for the job, then you will be called in for a welcome ride.

It’s simple as that. Before you know it, you will be cruising around the city and making money.

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Hot Small Business Tech Trends That Will Improve Efficiency

Technology for Small Business

Technology is a valued resource for small businesses. Adopting the right technology helps give brands more flexibility and opportunities for innovation in product design and improves their business and operating income.

For most small businesses, technological advances are lowering transaction, transport, and communication costs, enabling firms to invest where they can be most productive and find the best combination of skills, investment opportunities, and business environment.

Here are some of the major technology trends that will streamline small business efficiency and productivity:

Internet

The advent of the internet offers small businesses more control over marketing, brand development, customer engagement and improves sales opportunities. Thanks to the internet, firms can now offer clients a more comprehensive value proposition that is tailored to their needs. What’s more, the incredible growth of the internet has helped position it as a powerful driver of economic growth, giving businesses the chance to streamline and consolidate their business operations with custom online solutions.

For instance, businesses now have the opportunity to improve business efficiency through a centralized database, which makes data easily accessible for all needs. Small business owners can also build an online presence by developing websites and utilizing various social media platforms to create awareness for their product and boost sales by reaching more people faster. Further, the internet offers businesses the chance to outsource labor they are too busy for or those they are not very conversant with.

E-Commerce

E-commerce is one of the major trends that are shaping the small business landscape. The growing number of internet users worldwide has necessitated businesses to be selling more online than through traditional brick-and-mortar stores. This is because owning an e-commerce store makes it easier than ever before for small businesses to reach tech-savvy clients who now prefer to shop and buy items through digital channels across industries.

Also, it is easier and cheaper to set up an e-commerce store than to maintain a physical storefront. E-commerce platforms such as Shopify, 3dcart, and Magento enable brands to develop an e-commerce store without breaking a sweat.

If you are on a budget, you can utilize a point of sale system such as Vend to create a cloud-based, mobile-friendly online store within a short time. Doing so will enable you to reach many consumers who due to convenience, addiction, and impulsivity, prefer to make secure purchases online. More so, e-commerce gives small businesses an opportunity to adopt technology that supports real-time commerce.

Digital Banking

Many tech-savvy clients nowadays value banking convenience. For this reason, they prefer to bank online than visit a physical bank location. This is gradually shifting transactions away from traditional banks to digital ones. And with millennials expected to rule the market, the switch might happen faster than predicted.

Blockchain

The blockchain technology is capable of causing significant shifts in the way small businesses are conducted. Its application in payments and money transfers, digital identity, distributed cloud storage, smart contracts, etc., is expected to cause shifts that will change the small business arena.

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