This week’s top stories include small business advice covering the following four topics:
- Make 2021 the Year of the Customer
- 3 Reasons to Quit Your Corporate Job and Become a Restaurant Franchisee
- The Best Loans for Franchises
- Key Marketing Mistakes Entrepreneurs And Small Business Owners Should Avoid
Each week we scour all the top business-related magazines and newspapers for articles with the best advice for the small business owner, so you do not have to.
When entrepreneurs look at debt financing, their credit score (FICO) plays an important role in being able to get a loan. Essentially, a person's credit score is computed on five dimensions, each with a different weight.
There is a huge difference between consumer credit and business credit. Consumer credit funds consumptions while business credit is known as “leverage” and is applied to the purchase of an income-producing asset. As individuals, consumer credit is generally a method we use to obtain what we desire sooner than if we were forced to save […]
Several weeks ago, Sara Pope of ConsumerAffairs.com, reached out to me and asked if I could review a step by step guide to business loans and financing that her company had produced. My initial reaction was to just say no. My inclination to decline her offer was based on my experience with hundreds of nascent entrepreneurs. […]
A few weeks ago we discussed using a loan from your 401k plan to fund your startup. With a 401k plan, the employer often provides a match to the employee’s contribution. Both IRAs and 401k plans are consider defined contribution plans, meaning the contributions are fixed, but the returns are based on the returns from […]
Retirement accounts qualify for special tax treatment by the IRS. A common retirement account is a 401k, where pretax dollars from you, which are often matched by your employer, are deposited into an account and allowed to grow tax-deferred. These funds are designed to create income during retirement and are subject to premature distribution penalties […]