Category: Running a Business

For business owners, protecting their assets — including their and their clients', customers', and vendors' information — is of the utmost importance. The transfer of information and data between multiple entities can result in errors, breaches, and delays that small business owners simply cannot afford. As a result, entrepreneurs are incorporating new systems into their payment processing to streamline and protect payment information  What Are EDI Payments? EDI stands for “electronic data interchange” and it is not actually a payment… Read More

Like everything else in life, running a small business comes with risks. As a business owner, there’s a non-zero chance you’ll have to deal with challenges like damaged equipment, market fluctuations, employee theft, unforeseen pandemics, or personal emergencies.  The good news is you don’t have to be helpless against these unpredictable circumstances. In fact, you can lessen the impact by planning ahead with risk management. Let’s take a closer look at how risk identification works, and the practical steps you… Read More

In an increasingly online world, more and more small businesses have had to start offering a way to accept payments online. In fact, most customers expect to be able to pay online now. Online payments allow customers to pay with credit cards, debit cards, direct transfers from their bank account, or with a digital wallet, which makes it more convenient for both them and you. It also allows you to expand your business to customers who want to buy your… Read More

Every small business has some level of working capital, but if you’re unsure of what it is and how it’s calculated, we have you covered. In simple terms, working capital can also be referred to as net working capital. It’s the difference between a company's current assets like what cash they have, accounts receivable/customers' unpaid bills, and inventories of materials and finished goods — and its current liabilities, like accounts payable and debts. How to Calculate Working Capital Working capital… Read More

Equipment breakdown insurance protects equipment, including electrical, mechanical, and computer equipment, from damage or breakdowns as an optional part of a business insurance policy.  If your small business uses equipment — like computer systems, phone systems, refrigeration, or manufacturing equipment — to function, you may choose equipment breakdown coverage as part of your business insurance policy to help keep that equipment running properly and cover any lost income if it breaks down.  It’s an optional selection that can cover the… Read More

Starting and running your own business can be hard. But you don’t have to go it alone. There are lots of terrific resources (some free) to help your small business grow and thrive. Why Small Business Resources Are Important Being a small business owner requires a lot of moving parts from developing a business plan, registering a business, and figuring out the finances to day-to-day operations, marketing and advertising, and so much more. It can be challenging to get it… Read More