Blog

Small businesses thrive on working capital, and managing working capital successfully is vital to a business owner. When your business has low capital, it can cause problems like a lack of cash flow, obligations to suppliers and employees, and project-related expenses. Dealing With a Change in Working Capital Always having adequate working capital on hand is a difficult task. What can you do when your working capital is already low? We'll give you four tips from the experts at Falcon...

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There comes a time for every business where you will consider a loan. You may need the additional funds for an expansion, equipment, inventory, or even hiring new talent. If you see a small business loan in the future, you may wonder about your credit score's importance. Just how important is your credit profile when applying for a loan? Follow our guide and learn more about how your credit profile plays a role. What Credit Score is Needed for Small Business Loans? There is no magic...

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December is a busy time for small business owners. On top of day-to-day management duties, there are many preparations to make for the upcoming year. This list might include financial statements, tax forms and information, and end-of-year employee bonuses. End of Year Tasks for Small Business Owners It can be challenging for a small business owner or entrepreneur to manage time and maintain a healthy work/life balance. However, devoting attention to your business will help you end the year...

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If you own a small business, you’ve likely noticed that supply chain shortages in the US have affected your sales. Since the Coronavirus pandemic, supply issues have been critical for organizations to manage, especially for smaller institutions across the country. We’ve seen this very clearly in the Midwest, with a supply shortage affecting everything from commodities to labor. Most business owners ask what they can do to mitigate the issue, but some are hopeful that the problem will...

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For many businesses, preparations and year-end organization planning look very different this year. It may seem like a little early to be making the decisions, setting strategies, and buying new equipment for the new year, but there are a few additional factors at play that can disrupt your business.  Year-end business purchase decisions need to be completed faster this year because of delivery shortages and other delays. Customers and business owners alike have not missed the impact supply...

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As more and more banking options are available online, fewer and fewer people choose to receive paper bank statements every month, for businesses or those with multiple bank accounts, however, these statements are important to managing finances. Unfortunately, these statements are not always simple to read and understand. Some banks tend to include vague, misleading, or complicated information and sometimes even hidden fees. It might even feel like there is a secret banking language that...

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While there are benefits and drawback to almost any hire a company makes, independent contractors may pose a few unique opportunities and challenges. It is important to weigh all your options before you decide to make this change in your team.  The Basics of Classifying an Independent Contractor  The general rule laid out by the IRS is that an employee is labeled an independent contractor if the payer has the right to control or direct only the result of the work, not what...

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After a year like 2020, unexpected business expenses have taken on a whole new meaning. Especially when operating a small business or a startup, unexpected expenses seem to be a cost of doing business. The best course of action against these surprise costs is to be prepared and plan ahead. Four Unexpected Costs to Businesses Small businesses must account for many costs, especially as they are just starting out. These can include anything from permits and equipment maintenance to payment delay...

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Have you ever heard or repeated the phrase, “You have to spend money to make money”? If so, you might be the owner of a small business. Access to a business line of credit allows small businesses to execute daily functions, cover daily expenses, purchase inventory, hire staff, and much more. Business owners know that keeping a company’s ship afloat means understanding cash flow and profits–it’s not all about how much you have in the bank at one time. Fortunately,...

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As the economy begins to recover from the pandemic, mortgage rates are beginning to climb from record lows. The beginning of March saw mortgage rates rise above 3% for the first time in seven months. Even so, lower-than-average mortgage options are driving people to want to buy at a quicker pace or make a commercial investment for the first time. It’s not just home loans that offer investment opportunities. Commercial real estate is a hot topic right now as well. If you are considering...

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