Technology has transformed the way small companies do business, and while this has helped small businesses and entrepreneurs access more customers and new markets in new ways, it’s essential that we talk about the risks associated with moving business online. The rise of new technology can lead to severe security issues, and unfortunately many small businesses are unaware of measures they can take to help ensure the security of their and their customers’ information. That’s why we’re sharing tips and resources for small businesses during October’s National Cybersecurity Awareness Month.
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Insights into the world of small business lending and development
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Women entrepreneurs contribute significantly to America’s economy and women are opening businesses at higher rates than their male counterparts. While women entrepreneurs face unique challenges around issues like accessing capital and finding mentors, they are increasingly optimistic. Bank of America’s 2018 Women Business Owner Spotlight found 58% of women business owners expect to increase revenue in the coming year, up from 44% in 2017. Similarly, 56% plan to grow their business over the next five years and 1 in 5 plan to hire in the next year.
Women entrepreneurs are doing and pl...
Are you looking for ways to get funding for your business, but aren’t sure what kind of loan is right for you? This video will give you some basic information about two of the main types of funding-debt and equity-so you can better understand your options and choose what’s best for you. In this video, we’ll cover equity funding. Be sure to check out part 1 in this series to learn more about debt funding.
Are you looking for ways to get funding for your business, but aren’t sure what kind of loan is right for you? This video will give you some basic information about two of the main types of funding-debt and equity-so you can better understand your options and choose what’s best for you. In this video, we’ll cover debt funding. Be sure to check out part 2 in this series to learn more about equity funding.
National Hispanic Heritage Month runs from September 15 through October 15, and it’s the perfect time to celebrate the contributions of Hispanic small business owners to our nation’s economy and discuss how we can help them thrive and grow their businesses.
Hispanic-owned businesses generate significant economic benefit, spurring innovation and building wealth in diverse communities throughout America. Hispanic-owned small businesses are opening at a rate far above the national average, with the Hispanic share of all U.S. business owners growing 46% between 2007 and 2012. To enco...
This is the first post in a series on the basics of small business finances. Stay tuned for future posts in this series, including information about bookkeeping and small business credit cards.
As an entrepreneur, you now need to be a Chief Everything Officer, and that includes managing your business’s financials. Navigating small business finances can be overwhelming, but it’s important to understand all the factors that go into overseeing your business’s daily finances. A good place to start with is a small business bank account.
New small business owners can often be temp...
Kateri Gutierrez co-founded Collective Avenue Coffee in Lynwood in 2016 with big dreams of what the business could do for her community. As her business has grown, this commitment to community has become the foundation of Collective Avenue Coffee, from it business structure to its mission and even how it's funded its growth.
Kateri and her co-founder Jonathan Robles organized their business to be the first worker-owned coffee shop in L.A, meaning the business is owned and operated by its members and employees. They felt that the cooperative model was a way for them to start and own...
This is the final post in our series, “Turn your bright idea into a business.” Check out our other posts on validating your idea, running the financials and testing the waters by starting small.
You’ve been thinking about starting a small business for a while, and you’ve even done your homework to try out your idea. Hopefully you’ve read our other posts in this series for advice on validating your idea, doing a bit of market research, thinking through the financials and testing the waters by starting your business on the side. While you’ve successfully taken some steps towards beco...
This is the third post in a series on how you can turn your dream of owning a small business into a reality. If you missed Part 2 in the series, you can find it here. Check back each week for new posts.
Once you’ve figured out that your business idea has legs and makes financial sense, the next step is to try it out. Many entrepreneurs like to dream big as they’re first launching a business—they picture their business with their own office, retail location and staff. Dreaming big is great, but starting small gives you the opportunity to test out your business ideas and perfect them...
This is the second post in a series on how you can turn your dream of owning a small business into a reality. If you missed Part 1 in the series, you can find it here. Check back each week for new posts.
There are many excellent reasons for starting a business: being your own boss, loving what you do and enjoying the challenge of getting your enterprise up and running. But at the end of the day, you need your business to make money. Now that you know that your business idea has legs, it’s time to see if your business makes sound financial sense.
Starting any business costs mon...
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