Recently we discussed the rapid growth of non-bank lenders (internet loans) in the financial marketplace. Their emergence has resulted from the reluctance of traditional banks to engage in the small loans typically needed by small business owners. This new category of lending is indeed innovative, makes the process simpler and easier, and offers consumers greater flexibility in loan options. But … [Read more...]
The Rapid Growth of Non-Bank Lenders
Following the market crash of 2008, the government increased regulations and restrictions on lending practices on the banking industry. It was an attempt to compensate for their failures that contributed to the mortgage crisis and financial collapse. This ultimately, and necessarily so, made obtaining new sources of capital more difficult for both individuals and small businesses. When Small … [Read more...]
Tips to Manage Cash Flow Early in the Year
We’ve talked about cash flow before. It's the lifeblood of your business, so it’s important to pay attention to it. And whether your company’s cash flow is high or low, there are always strategies to improve it. What causes that beginning-of-the-year dry spell? Every business is different, but many businesses experience a dip in cash flow in January and sometimes into February. There are many … [Read more...]
How to Create an Accurate Budget: Look Back
Many companies and individuals spend time creating and monitoring a budget. You know how it goes--if you’re a company, you look at your sales, and if you’re a person, you look at your pay stubs. Then you look at your bills. You think about how you want to save money. You wish you could save more, so you decide you’ll tighten your belt. The result? You come up with a budget that could only be … [Read more...]
Advice on Acquisitions from our Featured Client, Julie Murphy
Last year around this time, we profiled one of our clients, Julie Murphy of Designer Draperies of Boston, who shared her story of acquiring a new business to grow her company. If you’re considering acquisitions, we hope you’ll take the time to read her story.We recently caught up with Julie to get an update on her business. She’s doing wonderfully and she gave us some excellent advice to … [Read more...]