Business Plan Software
Business plan software is something that often gets overlooked
and isn’t considered to be a necessity for some reason. In my
opinion, business plan software is essential, it is not a luxury.
I am a huge advocate of business planning. When people ask me if
they need a business plan, my response is, “Absolutely!” You see,
starting a business without a business plan is akin to starting
college without a degree plan. If you don’t know where you are
going, you won’t know how to get there. You will waste your time
and your money if you are not following a plan. It’s really that
So, you know you need a business plan but what about business
plan software? For business planning, there are really three
alternatives: 1) crafting your own business plan from scratch; 2)
hiring a business plan writer or business planning consultant; or
3) using business plan software to write your own business plan.
Each of these alternatives has its own advantages and
Writing your own business plan from scratch is certainly a
possibility. Doing so gives you the freedom to format and arrange
the plan in any way that you see fit. On the other hand, doing
financial projections, which are necessary for the purpose of
budgeting and financial planning can be difficult to do without
a business plan program, or at least financial projection
software or spreadsheets.
Hiring a business plan writer makes sense for some people. A
business plan … Read the rest
Business Angels Investment
Sometimes new businesses can find wealthy benefactors who are willing to invest their capital in the business in return for compensation. These individuals are called “business angels.” This name comes from the fact that they step into an investment situation when no one else will. Often small businesses have difficulty acquiring money for their starting costs. Large investment corporations and traditional lenders are often unwilling to take on the risk associated with beginning a small business. Business angels provide for this need. To the new business owner, they truly are angels, because they save the day in a desperate investment situation.
Typically, business angels will invest in businesses that need an amount that falls within £10,000 and £250,000. The average investment an angel investor makes initially is usually around £75,000. They will choose to invest in businesses with excellent business plans and the potential for a high return on investment. Business angels are picky when choosing businesses to invest in because of the high risk they take with the investment.
Why would a business angel be willing to invest in a high-risk new business endeavor? They are looking for financial gain at the end of the business relationship. Business angels receive a percentage of the equity of the business in return for their investment. This type of finance means that the business angel has a share of the ownership of the business. Sometimes they will retain some control over the way the business is run.
How will … Read the rest
Qualifying for a Poor Credit Business Loan
A poor credit business loan is designed for a business person or persons with a poor credit history.
In the life of a business, virtually all come across a time where extra money is needed for business growth, expansion, a new venture, or paying outstanding bills. Businesses owned and operated by an individual or individuals with a poor credit history are of no exception. The fall back on this type of situation is that it is difficult to qualify for a conventional loan if you are an individual or a part of a business partnership with an individual who has poor credit, and are in need of a business loan.
Poor credit business loans are designed especially for business people with a poor credit history. Poor credit business loans apply to both new ventures and existing businesses and offer the business owner or owners the opportunity to turn around their poor credit rating, while also providing much needed financing for the business.
Pros of Obtaining a Poor Credit Business Loan
1. A poor credit business loan can offer a business person or business persons with poor credit an opportunity to receive a loan when they may otherwise not qualify for a conventional loan.
2. Poor credit business loans can offer the business owner or owners the opportunity to improve their business, and ultimately, improve their financial situation, economic standing, and ultimately, their credit ratings.
3. Loan terms for poor credit business loans can … Read the rest
Why Owners Opt for Small Business Credit Cards
The small business credit card market is a rapidly growing market in the financial services industry. If you are planning to apply for small business credit cards, see how your reasons compare with those of other business credit card holders:
· Business credit cards provide credibility and legitimacy to your business. It is an intangible benefit, but when the business credit card company approves a business credit card for your small business, it gives a signal to other merchants that your business has good, sound credit. A business credit card is a very credible imprimatur.
· For the start-up small business, or one which has a tarnished record, a business credit card allows your business to build or rebuild a credit history. By ensuring that this credit history remains consistently positive, you will establish the foundation for securing a business loan or line of credit should you decide to expand the business in the future. The business credit card is your guaranteed line of credit for now.
· Monthly business expenses are easier to track with a business credit card. The monthly business credit card account statement helps with the reconciliation of the purchases you make on behalf of your business.
· The usefulness of the business credit card statement is not limited to tracking business expenses. It can also be used as a reliable – and acceptable – alternative documentary proof when you prepare your books and your financial reports for … Read the rest
Business Owners’ Views of Business Credit Cards
There are quite a number of reasons why business owners choose to obtain business credit cards, but recent studies confirm that business credit cards are viewed most useful for keeping business and personal finances separate. Business owners say that their primary reason for using business credit cards is to avoid their business expenses from getting mixed up with their personal expenses: Using business credit cards separates the two, thereby contributing towards maintaining the integrity of their accounting records.
90% of all small business owners use business credit cards purely to make business related purchases, with more than 90% indicating that the primary need for business credit cards is business travel. They believe that airline flights, car rentals and hotel stays would be cumbersome without business credit cards.
Perhaps because of this close association between business travel and business credit cards, you won’t be surprised to hear that almost a third of the business owners consider cash back rewards as the most attractive feature, while one-fifth values the frequent flyer mile rewards most. To a lesser degree, the ready acceptance of business credit cards by vendors and suppliers was deemed to be an important consideration. Business owners are also happy with the ‘no annual fee’ feature offered by most business credit card issuers.
Business owners tend to use their business credit cards with very specific purposes in mind and are more conscious about settling business credit card balances in full. According to recent surveys, … Read the rest
Compare Business Credit Cards and Save Money
Today’s business owners are able to take advantage of the incentives offered to them by applying for business credit cards. Whether it is a large or small business, having a line of credit is crucial and business owners need to compare business credit cards to determine whether or not they fit their business needs. In retrospect, by determining which card is in line with an owner’s business, he or she is actually making one of the most valuable decisions a business owner can make.
For some business owners, determining what type of business credit card fits the needs of their business may be a daunting task. What’s most important to keep in mind is that sitting down and brainstorming is better than finding out later that a bad decision was made and it could quickly become a very costly mistake.
Different business credit cards offer business owners various things. The business owner should be aware that if a business credit card offers major traveler’s benefits, like travel points and traveler’s insurance, but that business owner is never required to travel, what good does that amenity do for his or her business? Once the business owner determines what best suits the needs of his or her business, then follows the process of research, the best credit card choice can be made.
Credit card companies offering business credit cards pride themselves on showcasing what the company is offering. With great advertising effort, business credit cards … Read the rest
Business loans: translating potential for financial success and independence
A good entrepreneur knows that the essence of striking gold in business is finding the right opportunity and going after it despite the risks. These opportunities keep on sprouting when you are doing business. Or you might have stumbled upon one and contemplating taking it. Your financial condition may not help you translate your potential for financial success and independence. Business loans can facilitate this translation.
Obtaining finance is central for starting a new business or making business grow. Financing a business through business loans can be a formidable task. But a good preparation can easily sort out any matter detrimental to getting your business loans approved. Taking a loan for business is an important decision. A business loans borrower must understand that while taking loans can help a business grow, a wrong decision will mean debt and actually damage-financial stability of a business. Determine how much the loan amount you require as business loans. There are different business loans products to decide from.
A well thought out business plan is the most significant part of getting business loans approved. The business plan should have projection. Don’t go into details, a concise to the point executive summary that answers all the queries of business loans, will gain easy acceptance. If you have an established business – financial statement, cash flow for the past three years will be required.
When business loans application is reviewed, some of the following questions might come … Read the rest
Business Broker Guide- How To Choose A Reliable Business Broker
Business brokers or business transfer agents are helpful in selling your business at higher prices. A business broker provides buyers as well as sellers for different businesses. You can easily sell or buy a running business with the help of best business brokers. Business broker works like a real estate agent.
Business brokers find buyers for you to make an effective business sale. Hiring business brokers is the better option to gain more offers and profit. You can even get maximum prices for your small business. Business broker can be a person as well as a firm that enables you to sell various businesses that includes Internet businesses as well as website.
Business brokers provide accurate value of the business. They advertise your business for sale and handle all initial discussions with the buyers and help the sellers to sell their business at good prices. They attract buyers in different ways. They advertise for your business on their websites and manage space in business newspapers and magazines.
Business brokers are very much confident with their work. They work on the behalf of sellers and sometimes suggest them about how to get more profit from business assets. Buyers can also get benefits of business brokers by telling their requirements. They only charge some commission for every transaction. Usually they get charge commission from both buyers and sellers.
While thinking about business brokers, the very first question that comes in mind, how … Read the rest
Business Analyst for the Small Business
Small business owners may not think they need a business analyst. Small businesses are sometimes caught up in trying to survive and overlook a key element in their success. The business analyst can actually come in and determine what the small business owner can do to expand his or her business. The small business owner can benefit just as much from a business analyst as a large corporation. There may be times when the business analyst sees the big picture when the small business owner can only see the bottom line. The new small business may not feel the added expense of a business analyst is worth justifying. In fact this is just the case.
The small business can benefit from the business analyst in many ways. The business analyst may be able to offer an unforeseen income generating avenue. Advertising techniques, the small business is using may be proving fruitless. The business analyst may be able to implement Bluetooth advertising. The small business could target specific clients instead of a general population with his or her advertising dollar. The business analyst may be able to suggest a point of sale income not thought of by the small business owner. Other elements, the business analyst could suggest would be repackaging in different sizes, where appropriate. Offering complimenting sales items may have not occurred to the small business owner. The business analyst is there to show a different perspective.
The business analyst will be able … Read the rest
Top Five Reasons to Establish Business Credit!
Too Many business owners are using their personal credit to finance the launch, expansion or growth of their business. A majority of business owners have no idea what business is or how to establish it. By following a few simple steps any business owner can establishing business credit, therefore, separating their personal credit from their business credit.
When business owners use personal credit card to pay for business expenses, the debt of the business reports back to their personal credit reports which lowers their scores because their business debts hurt their personal debt to income ratio.
To help prevent business owners from damaging their personal credit, every business owner should follow the simple steps of establishing business credit. By establishing business credit the debt of the business will report to the business credit file and not the personal credit file. Establishing business credit will also help the business build a strong business credit file so loans, lines of credit won’t require the business owner to sign a personal guarantee.
Here are just a few reasons why every business owner should establish business credit.
1. Establish credibility. You can’t expect to walk into a bank and ask for a business loan with no business credit or business history. By establishing a good business credit profile you will be able to secure the financing your business needs.
2. If your business should fail, you would still be legally responsible if you used your personal credit … Read the rest