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8 Things You Need To Start a Business During a Recession

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Current businesses are finding ways to pivot their business models, revisiting their budgets, and developing new forecasts to minimize their burn rate and maximize their available cash runway. There’s a great amount of uncertainty, people losing their jobs, and a direct hit on cash flows that can place businesses in dire straights.

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How to Manage Cash Flow in a Crisis

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If you don’t already know your cash flow like the back of your hand, I suggest you read Cash Flow 101 , the difference between cash and profits , how to forecast cash flow , and how to understand your cash flow statement. . If you don’t currently have a forecast, that’s OK. Before we get into crisis mode, review the fundamentals.

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Tips for Writing a Successful Business Plan for a Daycare Center

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What employee childcare discount will you offer? List an advisory board if you have one, list all employee salaries, incentives, referral bonuses for recruiting, and all such details. That said, loans through the SBA can be standalone based on the viability of your business plan, so I recommend looking into them.

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

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Many business owners fail to see the value of regular planning and forecasting, and it hurts their businesses because they haven’t planned for potential challenges and don’t have any kind of strategy for dealing with them. The same is true for opportunities. Do you work on your business, or in our business?

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Practical Market Research Resources for Entrepreneurs

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Small Business Administration – SBA. The industry-specific (based on SIC code) reports tell you how many companies there are, average sales, and employees. They do that by publishing as much industry-specific information as they can find, including statistics, forecasts, and industry profiles. Trade associations.

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The Importance of Burn Rate and Cash Runway

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You need cash in the bank to operate, to pay employees, and to keep the doors open. This is where forecasting and budgeting are crucial for the survival of your business. You’ll need to create multiple sales forecasts and expense budgets to explore different scenarios. Learn how to apply for an SBA Disaster Loan.

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How to Start a Construction Company

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Small Business Administration (SBA) have pointed out, construction is a high-growth industry right now and is expected to remain strong for years to come. million in 2013—and the average firm had fewer than 10 employees. As Forbes, Sageworks, and the U.S. drywall, flooring, and painting), utility systems construction (e.g.,

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