Category: Growing a Business

Looking for a Business Loan? 3 Reasons a Business Plan Is a Good Idea

Unless you’re looking for a loan at the bank or applying for an SBA loan you won’t need a formal business plan to get a small business loan. That being said, it can be a powerful tool to help you think about what your business does, what your business goals are, and how a small business loan can help you achieve them. Regardless of whether your lender will require it or not, creating a business plan is a good idea.… Read More

Should I Go To College? Considerations for a Small Business Owner

Elaine Rubin is the Senior Contributor and Communications Specialist at Edvisors. She has worked in higher education finance for more than 10 years, and provides information and advice from both personal and professional experiences. Elaine holds a degree in Political Science with a concentration in Public Policy and Administration from Northeastern University. There are no degree requirements to start a business. But you may wonder why you should consider college. Our current economy has forced a number of business owners… Read More

Pro Forma Financial Statements: What They Are and Why You Need Them

So your business is chugging right along, and you’ve had great financial results for years. You have no problem proving to a potential investor or lender that your company is doing well. But...you’ve got big things in the works. Maybe you’re selling off part of the company, or acquiring another. Now you need an accounting tool that will help you see how the numbers will change with this transition. But generally accepted accounting principles (known as GAAP) only look at… Read More

1099 vs. W-2: The Difference Between Employee and Contractor

If you’re managing your small business’ HR and payroll, you might struggle from time to time, especially if you’re not a human resources professional (which you likely aren’t). From hiring new workers to filing taxes, there’s a lot that goes into the HR role, and you have other responsibilities pulling you in a million other directions. One question many entrepreneurs have as employers is whether to hire a full-time employee or a contractor. There are benefits (and drawbacks) to each… Read More

4 Ways Bookkeeping Can Help Your Business in a Recession

This article was written by guest writer, Sarah Johnson from Bench With the economic landscape changing rapidly each day, it can be tempting to push bookkeeping aside for more pressing matters. Who cares about debits and credits when you’re not sure if your small business will survive? But don’t discount up-to-date books just yet—they can be your business’ best bet at securing loans, or making quick financial decisions when it matters most.  Bookkeeping and the Paycheck Protection Program If you… Read More

5 Things You Can Learn From a 9x Turnaround CEO

Several years ago I met 9x turnaround CEO and author Dick Cross not long after he published his first book, Just Run It!. At the time, I really liked the way he talked about business fundamentals, energizing employees, and thinking strategically about the things that will help build a strong company—regardless of how large or how small a business might be. I found him to be one of the most genuine and candid business leaders I’ve ever met and came… Read More