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Small Business Owners

Ask an Expert: Should I take out a startup loan for my small business idea?

Q. Should I take out a startup loan for my small business idea? Dear Reader, The prospect of starting your own business and growing your ideas must be very exciting. And the most difficult part is getting the capital to get it going, especially if your business is just starting out. Taking out a loan to grow your business has its pros and cons, but the ultimate decision depends on the …Read More

The Truth About Business Credit Cards

It’s no secret that when you are starting a small business, your personal and business finances quickly become intertwined. One area of common confusion is business credit cards. How are they different? Do they have the same protections? How will they affect your personal credit? How do you choose one? In this blog post, we explore these questions and more so you can make an informed decision for your small …Read More

Financing Your Business? Consider an SBA Loan

  By Tom Pretty, Head of SBA Lending Small business is the backbone of the U.S. economy, with nearly 29 million operating around the country, according to the U.S. Small Business Administration (SBA) Office of Advocacy. For these enterprises, securing funding can impact their ability to operate and grow, yet most small business owners do not fully understand all of the types of credit available to their business. When choosing …Read More

Retirement Planning for Small Business Owners

Small business owners are in a unique position when it comes to planning for retirement because, as their own boss, they will not have a 401(k) or pension option from an employer planning retirement on their behalf. With a number of different plan options (the SEP IRA, the Self-Employed 401(k), Simple IRA, the Simple 401(k), and the Roth IRA, to name a few), deciding on one takes patience and sometimes, …Read More

5 Steps to Prepare for Getting a Small Business Loan

Step 1: Review Credit Pull and review your credit report from all three credit reporting agencies (Transunion, Experian, and Equifax). It’s free at AnnualCreditReport.com, but in order to get your FICO score you’ll have to pay a small fee. First, determine if there are any errors and get them fixed promptly. It’s important to take care of any bad debt, like collection debt, immediately. If you paid the debt, but it’s still …Read More

Top Hidden Costs of Running a Business

Owning a business comes with an endless stream of expenses such as inventory and office rent. But operating a company may also include items you never considered as potential or necessary costs. Although 80 percent of small business owners in TD Bank’s 2017 Small Business Month Survey expressed confidence in managing their businesses’ finances, these hidden costs can add up and put a dent in income if not properly managed. …Read More

How to Start Managing Small Business Finances

Starting a small business is an exciting, yet daunting process. You’ve decided to venture out on your own and may not be entirely versed on how to manage business expenses. And that’s okay. Tackling all that comes with a small business takes a lot of work, so it’s essential to get organized right away. From time management to money management and everything in between, your small business will require lots …Read More

Succeeding as an Employer Fuels Business Success

Even in the best of job markets, when your staff is small every person you add can have an oversized impact on your budget, your firm’s culture, and its productivity. So, as you grow, what can you do to attract and hire the right employees and retain those you may already have? The short answer is trust. Showing it, earning it, and making the honesty that supports it part of …Read More

Data Security: 7 Ways to Safeguard Your Customers

It may not seem like the data your small business accumulates would be sufficient to draw the attention of cyber criminals. But, data hacking is a growing concern for businesses of all sizes. In fact, half of all U.S. small businesses were targeted by phishing attacks in 2016, according to one industry survey. Taking that bait can be costly in dollars and reputation. Fortunately, there are a number of practices …Read More

Tax Reform: How It May Impact Your Business

Typically, the first few months of the year are the perfect time to gather financial statements and receipts to prepare for tax season, and to prepare for the year ahead. However, with the passage of the Tax Cuts and Jobs Act (TCJA) in late December, many business owners—big and small—may find themselves caught off guard. The changes, which impact all U.S. taxpayers, are numerous and even the tax professionals are …Read More