This is the fifth post in a series on the basics of small business finances.
Access to Capital
This post orginally appeared on the blog of our partner, The Export-Import Bank of the United States.
Summer is coming and across the country that means state and county fairs. And cotton candy. And snow cones. Or maybe a trip to the air conditioned movie theater to beat the heat. With popcorn, of course. If any of these stir your memory or make your mouth water, you, and people around the world, can thank Great Western Products.
You might be perfectly content at work. Maybe you like your co-workers, your boss is a great person, the company seems to be doing really well and you are totally satisfied with your current salary.
If this describes you, than we just have one thing to say: You should join a franchise.
This may seem counterintuitive. After all, why would you leave a job you’re perfectly happy with to take a risk on business ownership? There are actually several reasons why you should do this:
1. No job is safe.
The federal government spends billions of dollars on contracts each year, making it the largest buyer of goods and services in the country. Working with the government as a supplier or contractor is a huge opportunity for small businesses, especially since federal agencies are mandated to contract at least 23% to small business owners.
Are you one of the 300,000 U.S.-based small businesses that export your products and services to international markets? Do you know there are ways to protect your company’s assets from non-payment by foreign buyers and to improve your cash flow?
This post originally appeared on Small Business Majority.
This post originally appeared on the blog of our partner, CDC Small Business Finance.
Are you looking into a small business loan? Before filling out an application, you’ll want to know whether you have a high enough credit score to qualify for financing. And if your score is not quite there yet, don’t give up — you have the power to fix your credit yourself.
As a small business owner, your relationships with your community and your peers are essential to your success. Your fellow business owners can provide much needed support and advice as you grow your small business. This is why many new entrepreneurs turn to a mentor who has already paved their own path. But, a successful mentorship takes effort. Here are some tips on how to have a successful mentor-mentee relationship.