How to Navigate the Waters of Small Business Lending

The small business loan industry is teetering toward inaction with little to offer lenders or owners. According to the Federal Reserve, large U.S. banks are softening loan terms for small companies 10 percent more than mid-sized and large businesses. The Wall Street Journal also reported banks and lenders’ difficulties in stirring the market for small-business lending.

Entrepreneurs across the board are in need of useful tips and trustworthy advice. Much of the process hinges on thorough preparation and a clear understanding of lender expectations. For businesses that don’t meet prerequisites for traditional commercial loans, low-interest loans can be negotiated through some nonprofits and local and state development agencies. This avenue can be even more worthwhile than navigating the hoops of typical lenders.

Outsourced Accounting Is Smart Business

Small businesses shouldn’t be weighed down by small staffs; outsourcing some tasks can relieve pressure and keep things running smoothly.

Some business owners like to have their fingers in every project and monitor every responsibility, but this can leave you scattered and less productive. Some decisions should be carefully controlled, but other jobs must be delegated elsewhere to keep small staffs content. Outsourcing significant duties like financial reporting and bookkeeping  often saves more money then employing an in-house bookkeeper and spares owners the stress.

Innovative Formula Equates to Business Success

When people see closed storefronts in the neighborhoods where they live and work, they’re reminded that the toll this economy has taken on businesses affects their own lives. And yet some companies – faced with the same adverse headwinds – seem to rise to the challenge and go on to prosper as never before.

Why is that? And could there even be a lesson to be learned here if you’re thinking of starting your own business as a result of either being unemployed or just plain fed up with your current job?

Ease Your Business Load: Join a Service-Based Franchise!

Working professionals may want to start their own business but fear their chances of success amidst all the economic uncertainty. While understandable, this fear can be assuaged. Diving into the business world is made a little easier by taking the service-based franchise  route.

Not everyone starts out knowing how to make an independent business thrive, whereas purchasing a pre-established franchise tends to be far less challenging. There is a certain amount of risk in all business endeavors. However, service-based franchises in particular require less overhead and initial investment, while offering the support of tried-and-true systems. Since the majority of these sorts of franchises don’t require physical locations, the pressure of finding a perfect location, retail space or facility is lessened. This can also eliminate lease contracts and property expenses.

Get the Most Out of Your Rental Property

Managing a rental property can be an excellent source of income in today’s economy.

A third of the nation’s households rent their residences, according to the 2010 U.S. Census Report, and that number rises as high as two-thirds in large metropolitan areas, such as New York and Los Angeles.

Given the steady demand for rental housing, it’s no wonder that individuals are investing in real estate, but there are several things property managers should keep in mind if they hope to make a profit.

Small Business Tips for Staying Afloat During a Down Economy

Small businesses are the backbone of the American economy. According to the Small Business Administration, small businesses are responsible for generating 64 percent of net new jobs over the past 15 years. And in his latest stump speech, President Obama called small businesses “the places where most jobs begin.”

Despite their value, the nature of small business makes them particularly sensitive to a volatile economy. Millions of U.S. small businesses — especially in the retail, business services and housing industries — were made vulnerable by the recent housing slump and credit crunch, causing potential customers to tighten their purse strings and making it more difficult for small businesses to obtain loans and credit. Therefore, the question becomes, how do small businesses survive during a down economy—especially when they’ve already cut costs as far as they can go?

3 Financial Tools to Help Grow Your Business

Financial management can make or break a business. For small businesses and entrepreneurs in particular, having the right tools available to run your start-up business is essential to keeping your organization on track and financially stable. Small business owners can use these fiscal management tools to keep accurate financial records, perform basic financial analysis and improve their business by assessing their preparedness for the marketplace.

Here are some sources of financial management information that will help you during every stage of creating and maintaining a prosperous business plan:

Small Businesses Want to Make a Big Splash Without Getting all Wet

It’s usually better to be a big fish in a small pond than a small fish in a big pond, or so the saying goes. Many of today’s small and medium-sized companies are trying to figure out how to make a big splash when launching or renovating their presence on the web.

How crowded is the web? Well, according to Royal Pingdom, a global Internet tracking and statistics company, there are over 234 million unique websites. Many of these sites are expensive to create and costly to maintain while only being mediocre and containing no consistent theme or message.

Businesses Find New Solutions in Today’s Economy

As the economy continues to slowly expand, businesses are seeking new media to reach their customers. In addition to traditional print, radio and online advertising, marketing directors are often required to create and implement a social media strategy. According to Forrester Research, three out of four Americans currently use social media. Facebook, Twitter and YouTube have become incredible success stories, but more importantly they’ve evolved into tools to grow sales and profits. As a result, the management of many small to medium-sized companies are struggling to find the right balance to effectively communicate and grow their businesses in the Internet age.

Seniors at DeVry University Tackle Real Business Needs

Five words or less(NewsUSA) – For business and technology students at DeVry University, the name of the game was innovation — not just graduation — as they presented their final senior projects to industry experts and local leaders.
“Students really get to showcase their talents when they present their senior projects,” said DeVry University Associate Professor Deborah Helman. “And they’re also given the opportunity to demonstrate for business leaders the importance of building healthy, dynamic relationships with local communities.”
Campus-wide, DeVry University senior project presentations, or “fairs,” are held several times a year. Employers and business leaders in the community are invited to attend the events, view the projects up close, talk to the student inventors and get a first-hand look at the imagination, creativity and industry prowess a student might bring to a job.
At DeVry University’s North Brunswick campus, more than 60 seniors in 16 groups presented the projects they had worked on for the past several months, focusing on creating smart business solutions and strategic marketing plans for local small businesses.
One team of students worked on redesigning a website for Xtreme Dezines, an online home-based business specializing in custom jewelry and handbags. “Our client wanted to gain revenue and market share, so we decided that she should concentrate her business efforts on exposing her products to the public,” said DeVry University student Nilsa Martinez. “This would help to create the best sales opportunities for our client while also increasing additional market share and expanding her customer base.” So, the team decided to design an attractive website, create an expansive promotional plan and develop the accounting software needed to help her better establish her company.
At the DeVry University Fremont campus, a team of Information Technology students created a Top Security Access Authentication System, which they designed to add multiple levels of critical security clearances at high-powered facilities such as power plants and military bases. Meanwhile, another team of students proposed their senior project, a Pilot Authentication System that uses various biometric sensors to ensure passenger safety by confirming the pilot’s identity and sobriety before allowing the airplane to take off.
To reinforce how the effort that the students put into their senior projects will pay off with career success, chief technology officer for Integrated Media Management and DeVry University alumnus Nish Shah came back to the North Brunswick campus to give a keynote speech.
“The best part about DeVry University’s training was that it gave me hands-on experience. It allowed me to think about what I needed to do and how I should respond to a real-life situation,” said Shah. He also credited DeVry University with improving his communication and team-building skills.
Although not all DeVry University senior projects make it into commercial production, the experience of identifying a need and creating a solution is just as important to the overall learning process.
For more information, visit www.devry.edu.