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Access tips, trends, and tools to grow your business
These articles will provide access to information and resources as you grow your business:
Bonding Assistance | Conducting Business Online | Established Businesses and Growth | Financial Education | Global Opportunities and New Markets | Job Creation | Loan Packaging | Mergers and Acquisitions | Private Equity and Venture Capital Sourcing | Procurement Matching, Contracting Opportunities | Sales and Marketing | Starting a Business | Strategic Partnerships and New Markets | Technology and Business
Top Blog Post
When we think of networking often times images of happy hour, spending an inordinate amount of time in the evenings at a restaurant or office building with a whole lot of chit chat that may yield little to no business at all. While this type of activity can seem tiresome and unnecessary, it can be a great way to get your business off the ground. This simple, cost-effective (sometimes FREE) way of advertising is a means of getting the word out about your business.
Everyone is experienced at networking. Remember what happened when you ate at that great seafood restaurant, found the best bargain at the local shoe store, located a fantastic dry cleaners? It’s probably safe to assume you told a few family members, friends or co-workers. This is networking; passing along information to those who most likely will use these products or services.
Want to start a business? 20 questions to ask yourself first
Being your own boss can be rewarding, but it certainly isn’t for everyone. Sure, to some degree, you have more freedoms working for yourself than you do working for someone else. But often young entrepreneurs find that the workload and the stress of having to continually perform to keep their young business viable can be too much for them. It's true that, statistically in the U.S., more new businesses fail than succeed. You shouldn't let that discourage you but if you're thinking about starting your own business, there are some important things you should think about before making your decision.
People start businesses for a lot of reasons, not just because they have some great idea that can change the world. In fact, many small businesses do very well marketing others' products and services.
Have you ever felt trapped in a job working for a company? That happens to lots of people and many of them dream of one day starting their own business and working in a way that gives them more control over their work life such as hours, pay and overall job security--hey you're not going to walk into your own office and fire yourself unexpectedly one day, right?
What is a task order, or indefinite delivery contract?
You will hear and read the terms “task order contract” and “issuance of task orders” frequently in discussions and documents that pertain to GSA schedules. Even though the FAR 8.4 provides specific authorities for GSA schedule contracts that supercede the FAR 16.5’s specific provisions for task order or indefinite delivery contract types, an understanding of these vehicles will help to better understand the way a GSA schedule works.
An indefinite delivery contract is an acquisition tool that has grown substantially in popularity over the last decade. There are three types of indefinite delivery contracts: definite quantity, indefinite-quantity and requirements contracts. All three are used to acquire supplies and/or services when the exact times and/or exact quantities of future deliveries are not known at the time of contract award. Requirements contracts and indefinite quantity contracts are also known as delivery order or “task order” contracts.
5 C’s of Credit Analysis
Regardless of where you seek funding - from a bank, a local development corporation or a relative - a prospective lender will review your credit worthiness. A complete and thoroughly documented loan request (including a business plan) will help the lender understand you and your business. The "Five C's" are the basic components of credit analysis. They are described here to help you understand what the lender looks for.
Capacity to repay is the most critical of the five factors, it is the primary source of repayment - cash. The prospective lender will want to know exactly how you intend to repay the loan. The lender will consider the cash flow from the business, the timing of the repayment, and the probability of successful repayment of the loan. Payment history on existing credit relationships - personal or commercial- is considered an indicator of future payment performance. Potential lenders also will want to know about other possible sources of repayment.