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In order of priority: Auto loans, credit cards, mortgages
A predominance of consumers regard making car loan payments as more important than paying off credit cards and mortgages, according to a recent TransUnion study.
Deducting Points
You just bought a house and paid one “point” on your home loan. A point, which is the interest lenders charge up front, is 1% of the mortgage loan amount. If you itemize your income-tax deductions, points are deductible. First Time Around Points paid for a mortgage on...
So, you’re facing a shortfall
You crunched revenue and expenditure numbers, put together a realistic financial plan, and yet, you’re facing a shortfall.
Improving receivables and managing payables
Cash flow management is all about striking a balance between expenditures and revenue, then basing your company’s financial plan off these projections.
Tips for better managing your cash flow
Cash flow management involves balancing small business expenditures with revenue collection to ensure your company has the funds it needs to pay bills, cover unexpected expenses and generally stay afloat.
Cultivating the next generation of entrepreneurs
As a community-oriented business owner (COBO), running your own enterprise is about more than just making money – although that’s nice too, of course.
Study identifies successful entrepreneurial practices
A recent report from the Guardian Life Small Business Research Institute examined the practices of small business owners (SBOs) who saw revenue increases in 2011.
Unpacking the recent Kauffman Index of Entrepreneurial Activity
According to the most recent Kauffman Index of Entrepreneurial Activity, the rate of small business creation fell last year.
Boosting productivity and achieving momentum
When it comes to getting things done, people tend to get caught up in what they’re doing, rather than taking a step back to look at what they’ve already accomplished and where they plan to go next.
Prioritizing your priorities: Small business 101
For small business owners like you, every aspect of running your company can seem like a priority.
Discussing your financial plan with your spouse
As a community-oriented small business owner, you have to juggle the responsibilities of financial management both at work and at home.
Small Businesses, Big Tax Mistakes
In the face of business pressures, keeping up with IRS rules and regulations can be difficult. But the consequences of noncompliance can put a small enterprise out of business just as easily as poor economic conditions can. While you can’t control the economy, you can...
How useful can a financial adviser be for your SBO demographic?
According to a recent report, many small business owners (SBOs) are eager to get financial tips from a qualified adviser, although some demographics may benefit more from enlisting an adviser than others.
Today’s Market Action
U.S. stocks opened mildly higher, extending gains into a sixth day on follow-on strength from yesterday’s surprise Fed stress test results which allowed a dividend-increase melee among banks. The actions reiterate the Fed’s view that strains in global financial...
Don’t make these common small business tax filing mistakes
With approximately a month to go, it’s time to get in gear if you haven’t yet filed taxes for your small business.
Correcting small business tax misconceptions
The Internal Revenue Service’s 2012 tax filing deadline is Tuesday, April 17. Tax Day is typically April 15, but it’s a little later this year.
What haven’t you factored into your financial plan?
Even the best-laid plans have the potential to go awry, and the financial plan you have for your company is no exception.
Study: Small business borrowing is looking up
Small business borrowing in the United States rose again in January, according to the Thomson Reuters/PayNet Small Business Lending Index.
Securing funding for expansion as small business employment plateaus
According to the latest iteration of the Intuit Small Business Employment Index, employment at small enterprises with fewer than 20 employees rose by 0.2 percent between January 24 and February 23.
Crowdfunding vs. community bank loans
Despite tentative positive trends suggesting traditional small business financing will be easier to come by this year, many experts predict that 2012 will see the continued rise of alternative sources of funding.
Optimizing how you manage your small business finances
According to recent research sponsored by AdviCoach, a business coaching and advisory service for small and medium-sized companies, managing finances is a key challenge for many entrepreneurs.
Improving your chances of securing a small business loan
If you’re looking to secure commercial loans for your small business, there are several courses of action you can take to improve your chances.
College and Retirement
Two Goals, One Pot of Money There’s no doubt that college costs are high — and getting higher. So, if you expect your child to go to college, it probably makes sense to start saving as early as possible. There’s also no doubt that if you plan to retire someday, you’re...
The sunny side of owning your own business
During a turbulent economy, the negative side of owning a small business is often the aspect that’s publicized.
U.S. 4Q GDP Expands to 3% Growth
Broad market gains yesterday sent the Dow Jones Industrial Average to close above the 13,000 mark for the first time since May 2008 and the S&P 500 ended the day at its best level in nearly four years. Investors overlooked falling home prices and a 4% drop in...
Study reveals worryingly few entrepreneurs have retirement plans
A recent study by The American College revealed that three-quarters of small business owners (SBOs) have no written plan for retirement.
Community banks, credit unions prove to be small business go-tos
Community financial institutions (FIs) and credit unions (CUs) are triumphing over big banks at a time when the country’s small businesses are making tentative steps toward economic recovery.
Engage with your community bank via Twitter
Banks can use Twitter to provide financial tips, encourage community involvement and promote their own financial services.
Are you ready to expand your small business?
As the owner of a local small business, you know the hardships involved with getting a company off the ground.
Putting together a personal financial statement
According to Inc. magazine, entrepreneurs tend to create a personal financial statement for one of two reasons.
Half of small business owners don’t have an appropriate retirement plan, study finds
According to a recent study by Fidelity Investments, more than half (53 percent) of the nearly six million small businesses in the nation don’t have an optimal retirement plan.
Bernanke speaks about the current state of community banking
Federal Reserve Chairman Ben Bernanke recently said smaller institutions are beginning to pull ahead of big banks, focusing more on financial investment advice as more money for loans becomes available.
Making Your Small Business Dream a Reality
A Civic Ventures study released in November of last year found that one-quarter of American citizens between the ages of 44 and 70 were interested in starting their own companies.
So, you’re thinking of starting a small business
If you’re considering founding your own company, the first thing to know is that you’re not alone.
Work with a community bank to maximize your small business’ success
Recent government reports revealed that 40 percent of all small business lending is made by financial institutions $1 billion or less in size, according to the Times of Northwest Indiana.
Cash flow management, financial services and you
Cash flow management can seem intimidating for small business owners.
Help From a Community Bank Could Catalyze Small Business Success
According to a recent CNBC article by Louis Hernandez, Jr., community-based financial institutions are best equipped to help small enterprises begin to recover from the recession.
Consumers trust financial institutions’ mobile banking offerings, study finds
A recent study by research consultancy Market Strategies International found that although many consumers continue to have concerns about the safety of mobile payment technology, they feel relatively secure about mobile banking options from financial services companies.
Business Owners, Come Up With a Financial Plan for Your Retirement
The problem with saving for retirement is that there’s no way to know exactly how much you need to put away.
The Secret to Building a Strong Small Business Community
Family is a big part of life for community oriented business owners (COBOs).
The importance of keeping personal and business accounts separate
It can be tempting for entrepreneurs to merge their personal and business accounts, but this decision could spell disaster if your company goes under.
Creating Your Financial Plan
Creating a financial plan may seem like a task for only the very wealthy. But anyone with goals for the future, such as buying a house or saving for a child’s education, will benefit from having a plan to help reach those objectives. Successful financial planning...
Breaking down the formula for improving your small business’ cash flow
The formula for improving your cash flow is a simple one.
Setting up an annual financial plan for your business
Putting together a financial plan for your company will help ensure you’re prepared to fund operations and generate income.
In the Valentine’s spirit, plan your financial future as a couple
At this time of year, love is in the air. Many couples are focused on pushing out all the stops to make their Valentine’s Day offerings the best that they can be, and personal finance can often fall by the wayside.
Don’t Overlook Succession Planning
According to a 2009 study conducted by The Family Firm Institute, fewer than one-third of family-owned small businesses make it to the second generation, approximately 15 percent to the third and just 3 percent to the fourth and beyond.
Keeping up with your company’s cash flow
Money goes in, money goes out. Make sure your business checking account is up to the challenge.
Local economies are good for residents’ health, study finds
According to a study by sociologists at Louisiana State University (LSU) and Baylor University, communities with a greater concentration of locally-owned small businesses have healthier populations compared to areas that rely on large companies for industry.
Chamber of Commerce survey: Outlook bright for local economies
A recently released United States Chamber of Commerce study revealed that although the national economy continues to falter and many small business owners believe the country is on the wrong track, the outlook is better for local economies.
Clean Up the Clutter
If piles of financial documents have taken over your home, it’s time to clean up the clutter. Here are a few ways to clean your financial house. Get Organized Sort through the piles and arrange documents into groups. For example, put all your tax records into one...