Category: Growing a Business

Getting Your Small Business Out of Debt

Getting Your Small Business Out of Debt

Business debt can be a tool for growth, but when it gets to be too much, it can also prevent a business from taking advantage of opportunities to grow.  The Experian Oxford Economics Main Street Report Q2 2023 notes that “commercial lending remains open to small businesses,” this year, but small businesses face increasing pressure as interest rates have risen. “A decision to pay some creditors more slowly and hold onto capital longer will continue to increase delinquency rates across… Read More
Sole Proprietorship vs. LLC: Which Is Right for You?

Sole Proprietorship vs. LLC: Which Is Right for You?

The decision to incorporate or not incorporate your business can be a very important choice. While most businesses operate as sole proprietorship, a formal business structure such as an LLC can provide significant benefits including asset protection and greater access to small business financing. Learn more about an LLC vs. a sole prop in this article from Nav’s experts. Sole Proprietorship vs. LLC: Comparison One of the key differences—and benefits— of a limited liability company (LLC) versus the sole proprietorship is… Read More
12 Small Business Podcasts That Will Help You Sell More

12 Small Business Podcasts That Will Help You Sell More

Running a business is often about setting goals and putting in the long hours and hard work to achieve them. Regardless of what type of business you run, it’s likely that “selling more” has a frequent, if not long-term, place on your to-do list. It’s a goal that requires staying up to date on new techniques, honing strategies, and being in touch with the latest industry news. The sad part? It’s difficult for small business owners, many of whom have… Read More
7 Ways Entrepreneurs Are Leveraging Age to Grow Their Business

7 Ways Entrepreneurs Are Leveraging Age to Grow Their Business

Entrepreneurship isn’t just for the young. Older adults are finding that starting a business can be the perfect way to turn a lifetime of experience into something meaningful, take control of their time, counter workplace ageism, and in some cases, make a lot more money. “In the U.S., the U.K., Ireland, and Australia, 50+-year-olds are launching more start-ups than any other cohort,” shares Kerry Hannon, the author of Never Too Old to Get Rich: The Entrepreneur’s Guide to Starting a… Read More
Cash Flow vs. Profit: What’s the Difference?

Cash Flow vs. Profit: What’s the Difference?

Even if your small business is profitable, you can risk running into cash flow problems. How?  If you don’t have enough liquid cash (cash flow) on hand to pay your expenses on time, your business can fall behind on payments. And that can mean higher interest rates or late fees, while slow payments can hurt your business credit scores. Many business owners don’t truly understand what cash flow is when compared to profit, but the difference is essential.  Miranda Marquit,… Read More
How to Advertise Your Business on Social Media

How to Advertise Your Business on Social Media

Today, around seven-in-ten Americans use social media to connect with one another, engage with news content, share information and entertain themselves according to Pew Research Center’s Social Media Factsheet. For small business owners, this translates to an opportunity to engage with new and existing customers while building brand aware Despite the popularity of social media platforms like Facebook, LinkedIn, Instagram, Twitter, TikTok or Pinterest, running paid ads on those platforms can seem overwhelming. Questions like “Which social media channel should… Read More