Tag: business expenses
-
Small Businesses and Price Increases | Fighting the Increase in Costs
Posted On: May 12, 2022 by Falcon National Bank in: Manage your Business | Business Banking
Business owners are undoubtedly aware of increased prices. You don’t have to be paying attention to your supply chain to notice them when you can easily find them at the grocery store and the pump. But small businesses must navigate price increasing to continue turning a profit, so how can they do it? Luckily, there are a few aspects of your business that you can evaluate in the face of price increases. Evaluating Labor’s Effect on Raised Prices There is an immense rise in labor...
Read More -
Benefits and Drawbacks of Crowdfunding for Startup Businesses
Posted On: July 20, 2021 by Falcon National Bank in: Invest your Money | Investment Banking, Manage your Business | Business Banking
A growing trend in raising funds for a business is something called crowdfunding. You may have heard about this idea before: asking friends, family, and even strangers to invest in a business idea or help raise funds for improvements, expansions, or other business expenses. On paper, it seems easy. A business can start by signing up with a crowdfunding platform, list some information about the business, and simply watch the money roll in! Of course, there is much more to it than that. Even though...
Read More -
Understanding and Managing Unexpected Business Expenses
Posted On: July 1, 2021 by Falcon National Bank in: Manage your Business | Business Banking
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...
Read More -
The Benefits of Opening Separate Business Checking Accounts
Posted On: March 9, 2021 by Falcon National Bank in: Manage your Business | Business Banking
Organizing cash flow, setting up bill payments, and accurately calculating cash on hand are critical functions for any business. A recent study reports that 27% of small businesses use the same bank account for business and personal finances (check out the infographic here). For business owners and self-employed workers, it might be beneficial to not only separate these accounts but to have more than one business checking account. The Benefits of Business Checking Accounts Credibility A...
Read More -
How to Start and Keep Business Finances Straight
Posted On: March 20, 2019 by Falcon National Bank in: Manage your Business | Business Banking
Some business owners knew they wanted to pursue an entrepreneur career path from the get-go. They attended business school, have advanced degrees, and are very familiar with how business finance works. Other business owners are naturally savvy when it comes to finance. They have a great idea, product, or company, but are well-versed in the business world. Unfortunately, self-employment isn’t for the faint of heart and the learning curve isn’t very large. However, there are a few things...
Read More