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President Barack Obama recently proclaimed April National Financial Capability Month. Recognizing the importance of smart financial planning in achieving the American Dream, this month calls on individuals to empower themselves by seeking knowledge and tools for strong financial capability.
Nowhere is financial literacy more important than in the small business community. Small businesses are the embodiment of the American dream and the backbone of the American economy, creating 64 percent of the net new jobs created between 1993 and 2011.
Export, trade and finance related agencies across the federal government are teaming up during World Trade Month - May 2013 - to host a series of Twitter Q&A’s for U.S. companies. Businesses can participate by tweeting their questions using the hashtag #TradeChat during the scheduled times.
What does your online storefront look like? How are you attracting customers to purchase a product they can’t touch, feel or try until it arrives on their doorstep?
This is a common, yet often overlooked, problem for small business owners who sell exclusively online through their own site or a third party site like Etsy or eBay. You might sell the most exquisite artisan product, but if you don’t present it effectively, shifting inventory might be harder than you think.
It’s been six months since Hurricane Sandy struck the East Coast and signs of recovery are emerging. Businesses are reopening, homeowners are rebuilding and communities are rebounding. I’m proud to say that the SBA, together with our federal partners, stepped-up to provide assistance to those affected by Sandy. SBA has approved more than 34,000 disaster loan applications for a dollar total of $2.2 billion – making Hurricane Sandy the third largest natural disaster in terms of SBA disaster lending in U.S. history.
In business, it’s inevitable that sooner or later you won’t get paid for the goods you shipped or services you performed. Or you may have lent money to an employee or your business, but won’t be repaid. Being passive about the whole thing doesn’t help. Learn what you can do to get your money!
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Are you a teenager or in your early 20s? Do you have a great business idea? Perhaps you’re already making headway towards starting your own business.
But how do you get others to believe in you and your business idea?
Here are eight surefire ways that you can be taken seriously as a young entrepreneur:
1. Have a Plan
Having a plan means knowing where you want to be and what steps you are going to take to get there. If you can’t communicate this to investors, vendors, distributors, employees, and so on, you will never be taken seriously.
NOTE: This blog is by Cassius Butts, SBA Regional Administrator
Being a supplier to a large business is a game changer. But, we know that small businesses often lack the capital, skills and access to market opportunities to be effective suppliers. We want to change that!
I came up with the phrase “crystal ball and chain” years ago to describe one predictable barrier to introducing a useful business planning process into an existing small business.
The phrase is intended to combine the crystal ball with the ball and chain. It happens because normal people, even good performers, and stars on a business team, naturally worry about changes. And when compensation is involved, and management structure, and raises and bonuses, it’s only natural to worry.