Posted at 11:08 AM
As we kick off 2018, we looked back at the blogs that made our 2017 top 10 list. From the types of company mergers and traits of successful entrepreneurs to estimating the cost of starting a business, MBDA blogs cover a variety of topics.
If you’re thinking about starting or growing a business, check out MBDA’s Grow Your Business Blog to help you reach your business goals.
There are five commonly-referred to types of business combinations known as mergers: conglomerate merger, horizontal merger, market extension merger, vertical merger and product extension merger. The term chosen to describe the merger depends on the economic function, purpose of the business transaction and relationship between the merging companies.
Regardless of where you seek funding - from a bank, a local development corporation or a relative - a prospective lender will review your creditworthiness. 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.
Starting a business is a lot of work. Anyone who tells you it's not is either lying or has never actually started one themselves. The hours are long, sacrifices are great and you are assaulted with new problems and challenges every day with seemingly no end. If you don't have the constitution to weather these things, your business could implode on you faster than it started.
There are many good reasons for growing your business through an acquisition or merger. These include: Obtaining quality staff or additional skills, knowledge of your industry or sector and other business intelligence.
The 8(a) Business Development Program is a business assistance program for small disadvantaged businesses. The 8(a) Program offers a broad scope of assistance to firms that are owned and controlled at least 51% by socially and economically disadvantaged individuals.
Breakeven analysis is a tool used to determine when a business will be able to cover all its expenses and begin to make a profit. For the startup business, it is extremely important to know your startup costs, which provide you with the information you need to generate enough sales revenue to pay the ongoing expenses related to running your business.
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.
Searching the web for contracts can be extremely frustrating. If you are not familiar with the process a simple search can present a list of contracts that can take days to review. How can you simplify the effort while still keeping it effective?
How much does it cost to start your own business? Of course, the answer depends on your business model and your chosen industry. However, a useful estimate based on a 2009 study conducted by the Ewing Marion Kauffman Foundation puts the average cost of starting a new business from scratch at just over $30,000.
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.