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10 Reasons You Don’t Qualify for an SBA Disaster Loan

Up and Running

Maintaining your business through the coronavirus crisis has likely led you to cut costs, revise your sales projections, and potentially seek out a loan to help you stay afloat. Most banks will not issue traditional SBA loans to brand new businesses. Moreover, the collateral that you provide is split between the SBA and the bank.

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Vital Tips For Small Businesses And Entrepreneurs During Covid-19  

YoungUpstarts

As individuals, we instinctively keep a running check in our heads about when our bills are due and when we have money coming in. Make a list of bills you owe each month ­­— it could be rent, payroll, utilities, inventory, software subscriptions, etc. Now it’s time to consider your small business in the same light.

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8 Things You Need To Start a Business During a Recession

Up and Running

Recessions, or even a volatile market like we’re currently experiencing due to COVID-19 , are difficult times. In an economic downturn, businesses and consumers alike are looking to cut costs, which may allow you to step in with your answer. But it doesn’t have to be all bad. . More room for competition. Better credit options.

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Tips for Writing a Successful Business Plan for a Daycare Center

Up and Running

You want to review all the different components of your business model. Another thing to watch out for with monthly rent is all the added costs. Make sure to find out if it is a gross or net rate. , so keep these all in mind when calculating the costs. Up-to-code kitchen with three-compartment sink and grease trap.

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4 Reasons Small Businesses Fail

YoungUpstarts

In many cases, the difference between failure and success is as simple as doing the following: setting manageable goals, planning for growth, investing in the right business tools, and understanding the common pitfalls that sink other businesses. What separates new businesses that flourish from those that close in disappointment?

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You’ve Got Funding: 5 Things to Do With the Money Right Away

Up and Running

Take a moment and step back to review the business plan that you worked so hard on. According to 2016 statistics published by the Small Business Administration (SBA) , only about 78 percent of small business startups survive the first year, and only half make it to the five year point. Expensive printing costs.

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Do You Know How Your Business Is Doing and Where It’s Going?

Up and Running

Tim Berry, founder of Palo Alto Software and Bplans, asked, “What’s the best way for entrepreneurs to demonstrate that they’ve thought through the essential aspects of their business, especially the financials?”. Do you regularly review your plan? I found that there was a point where it actually cost me to do business.

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