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3 Main Points Before You Establish Credit for Your Business

Blogged By: 
SBA Blog
Created on April 24, 2015
 

Credit CardsThere are various factors to consider when deciding to use credit for your business. The most crucial and overlooked component is can you afford to use it? Every business’s credit needs are different. Many small business owners have the misconception that if business credit is granted to them, they can afford to use it. Credit applications don’t ask what your business expenses are, whether or not your business equipment is outdated and needs to be replaced soon, or if you need to hire new employees, or how much is spent on advertising each month.

So before you start applying for business credit or accept the first credit offer that comes in the mail, understand that there are three main points to consider before filling out an application. Let’s review these three key points below:

Before You Export: 5 Tips for Gathering Market Intel

Blogged By: 
SBA Blog
Created on April 24, 2015
 

Market ResearchDid you know that more than 95 percent of the world’s consumers live outside the United States? That’s a staggering number – and perhaps even more so is this figure: only one percent of U.S. small businesses are selling to those consumers.

The benefits abound when it comes to selling Made-in-America goods and services internationally. In addition to the cultural exchange inherent when developing global relationships, U.S. businesses – including small, minority- and women-owned businesses – can grow faster, hire more employees and pay higher wages.

There’s a huge global market for your small business offerings, so here are a few insights from experienced exporters to consider as you go about gathering international market intelligence.

Security in the Mobile Era

Blogged By: 
MBDA
Created on April 21, 2015
 

Mobile SecurityBy 2017, the number of smartphone users in the U.S. is expected to surpass 200 million, nearly 65 percent of the population. Negotiating security in the face of an ever-growing implementation of mobile devices presents serious challenges for organizations. Risks include the growth of Bring Your Own Device (BYOD) (coupled with a lack of security controls for these devices), loss/theft of devices, and the proliferation of mobile malware.

Users need to understand the risks and the steps they can take to minimize them, particularly as cybercriminals often use employees as the entry point into an organization’s network. Below are some key actions users can take to help minimize the likelihood of a successful cyber attack.

Regularly update your device.

Mobile malware increased 75% in 2014 from 2013, and further increases in malware are expected in 2015, particularly in mobile ransomware. Updated operating systems and security software are critical in protecting against emerging threats.

Spring has sprung: Entrepreneurs pitch their ideas at two DC events this past weekend

Blogged By: 
Javier Saade, SBA Official
Created on April 20, 2015
 

Hive 2.0 and Cherry BlossomsDuring this past weekend Nate Yohannes, my Senior Advisor, and I did the startup pitching rounds in our nation's capital.

On Friday night Nate was a judge at Mark Cuban's Recess, the college version of ABC's Shark Tank ("from dorm room to board room"). Recess is a music tour/music festival (like SXSW), entrepreneur speaker series and pitch competition with the winning prize of $10k towards your student loan (thanks to USA Network) and a flight to Hollywood, California to pitch to Cuban and his venture capital fund. Chip Conley, cofounder/ Head of Global Hospitality & Strategy at Airbnb was on hand too and provided advice to startup players in the room.  Cool stuff.

April is National Financial Capability Month

Blogged By: 
SBA Blog
Created on April 16, 2015
 

Financial LiteracyApril is National Financial Capability Month!

According to the findings of a 2014 Intuit study, more than 40 percent of U.S. small businesses consider themselves financially illiterate. Yet, 81 percent handle their business’ finances. April is National Financial Capability Month, so now is a great time for small businesses and aspiring entrepreneurs to brush up on their financial literacy skills.

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