Small Business
Hiring Your First Employee? Here’s What You Need to Know
Hiring an employee is a significant milestone for your business. Adding extra help is key to small business growth, allowing you to scale your offerings and attract more clients. However, hiring your first employee involves many steps, from legal requirements to payroll to finding the perfect candidate. If this is your first hire, it can […]
13 Things to Know Before Starting a Business
Being your own boss and running your own company is an exciting endeavor. However, there are several things to know before starting a business. Before opening your doors, you must be prepared to complete whole-scale research, planning, and financial decision-making to give yourself the best chance of success. By understanding some basic things to know […]
Sole Proprietorship vs. S Corp – What’s The Difference?
One of the most important aspects of setting up a small business is deciding which legal formation you’re going to use. For small businesses, two main options to consider are a sole proprietorship and an S Corporation (S Corp). While both business models can work well for smaller companies, they have several key differences in […]
13 Most Common Challenges in the Staffing Industry
Running a successful staffing agency is far from easy—especially when you consider the challenges facing staffing agencies in today’s hiring environment. A wide variety of staffing agency challenges affect every firm in practically every niche or geographic location. However, this doesn’t mean you can’t overcome them and find success. By understanding the most common challenges […]
How New Tariffs Will Impact Small Businesses
As the Trump administration implements new and increased tariffs on imported goods, small businesses across the country are facing a wave of uncertainty. Tariffs have long been a tool used in trade policies to protect domestic industries, generate revenue, and create leverage in trade discussions. However, with the recent escalation in tariffs, small businesses—particularly those […]
Why Do Small Businesses Fail? Causes, Signs & Statistics
Starting a small business is an exciting venture, but success isn’t guaranteed. Many entrepreneurs set out with big dreams of small business growth only to face unexpected challenges that put their businesses at risk. But why do small businesses fail, and more importantly, how can you prevent your business from becoming another statistic? The small […]
Utah Business Applications on the Rise After Rollout of New Business Registration System
According to new Census Bureau data, Utah saw a higher-than-usual number of EIN applications in December 2024 with a 44% increase in business applications from November to December. Comparatively, the average change from November to December that Utah saw over the last 10 years was a 3% drop in applications. The 6,491 applications that the […]
23 Small Business Accounting Tips
Accounting in small business is one of the most important elements of making your company a success. After all, your ability to effectively track and manage your financial activities is what will enable you to keep your business running for years to come, regardless of what types of products or services you sell. According to […]
What Are the Pros and Cons of SBA Loans?
SBA loans can be a valuable way for businesses to get a much-needed cash infusion. SBA loans can be used for a wide range of purposes, such as purchasing real estate, inventory, and equipment, or to improve working capital. While there are several benefits of SBA loans for small business owners looking for a working […]
11 Small Business Money Saving Ideas
Small business owners should always be thinking about how they can save money. And while saving money in business isn’t always easy, it is certainly possible by doing some critical thinking. Figuring out how to do this is one of the biggest challenges for small business owners, who often have to deal with tight finances […]
Personal Guarantees on Business Loans: How Do They Work?
For small businesses, getting a loan to secure funding isn’t always easy. In fact, 77% of small business owners are worried about limited access to credit affecting their ability to expand or achieve other goals. In light of common lending challenges, many lenders are willing to offer a loan when the business owner provides a […]
11 Alternatives to SBA Loans
Loans from the Small Business Administration (SBA) can feel like your golden ticket to profitability. SBA loan terms are favorable and also offer competitive interest rates. However, SBA loans are notoriously difficult to qualify for, especially if you have bad credit. Your business might be too small to qualify, or you might not have enough […]
Your Guide to Small Business Growth: Strategies, Financing Options, & When to Expand
Small business growth is an important consideration for any business owner—especially since it can look very different for each company. For some, expanding a business simply entails increasing their customer base and potentially hiring a few additional employees to manage the extra workload. For others, the growth plan involves expanding to new cities or states. […]
Can You Get a Business Credit Card with Bad Credit?
Your business credit score can have a huge impact on your ability to effectively manage your company. A high score makes it easier to secure credit cards, lines of credit, loans, and other funding to keep your business afloat. But what if it’s your first time opening a business, and you have zero credit history? […]
Differences Between a Startup vs. Small Business
When starting your own company, one question you might be wondering is whether your new endeavor will be considered a startup or a small business. While startups and small businesses have several similarities, there are also key differences that distinguish them from each other. By understanding what constitutes a startup or small business, you can […]
An Overview of the SBA’s New Working Capital Pilot Program
If you’re a small business owner, you’re likely going to run into working capital problems. According to the U.S. Chamber of Commerce, a lack of adequate working capital is one of the biggest challenges for small businesses with 77% of owners citing a concerning lack of access to capital. To combat this issue, the SBA […]
How to Send Someone to Collections for an Unpaid Invoice
It’s a problem no business owner wants to face but also a challenge that almost everyone will encounter sooner or later—an invoice that doesn’t seem like it’s going to get paid. When one of your customers is delinquent on their invoice payment, it can create serious cash flow problems that disrupt your operations. Most of […]
Common Small Business Challenges and How to Overcome Them
It is estimated that there are 33.2 million small businesses in the U.S. On the surface, this can make it seem like running a successful small business must be an easily achievable undertaking. In reality, the vast majority of these companies are deal with significant obstacles, whether they’re tied to aspects such as sales, cash […]
Key Performance Indicators for Your Small Business
Imagine being the owner of a small staffing agency. Over the last few months, you’ve noticed fluctuating profits. Some weeks boom. Others are worryingly low. Still, your goal is to expand into a second location. You feel like you can do it, but you don’t know the details. It’s vital you understand your overall performance […]
How to Build Good Relationships With Your Customers
Of the many things that will affect the bottom line of your business, few are more important than building relationships with customers. Your ability to build and maintain relationships with customers will make all the difference in your ability to achieve sustainable long-term growth. With strong customer relationships, you’ll enjoy higher levels of client satisfaction […]
What Are the Three Major Financial Statements?
Every business owner needs to know the three major financial statements to gain a comprehensive and holistic overview of your company’s financial condition. Together, these documents provide valuable information for business accounting and strategic decision-making regarding investments, expansions, and cost-cutting. If you’re looking for investors, they’re going to want to see and review these statements […]
How Are the Three Financial Statements Linked?
Say you’re a business owner looking to expand. You’re preparing for a loan application or seeking investment from outside sources. In this scenario, you must demonstrate your company’s financial health and stability to lenders or investors. Understanding the link between the three major financial statements—the balance sheet, cash flow statement, and profit and loss statement—means […]
How Do You Measure Success in Business?
How to measure success in business is perhaps the biggest question on the minds of small business owners. Regardless of industry, finding what qualifies as true “success” can be a challenge. Understanding which business performance metrics indicate that your company is in good shape will help you take steps that will keep your business in […]
Fed Announce No Immediate Relief to Interest Rates, But Cuts on the Way
Consumers hoping for relief from the elevated Fed interest rate will have to wait further, as The Federal Reserve announced on Wednesday it is holding steady on its 5.25-5.50% lending rate in a continued effort to combat inflation. The 23-year-high, which peaked in July 2023, has remained unchanged following five consecutive policy meetings. Policymakers insist […]
Interest Rates and Small Businesses: What You Need to Know
Interest rates have been a hot topic of conversation for small businesses over the past year after the federal funds rate hit a 23-year high in July 2023. The Fed rate had then remained steady (5.25% – 5.50%) until a September 2024 decision to cut rates by a half point, a significant reduction. However, questions […]
How to Write a Staffing Agency Introduction Email to Clients
Every day, more than four billion people open their email. So how do you stand out as a staffing agency owner who is introducing your business to potential clients? The answer isn’t obvious, but with a little bit of research, you’ll learn how to craft a perfect staffing agency introduction email to your target clients […]
What To Do When a Client Doesn’t Pay for Your Goods or Services
There are a lot of perks as a business owner: you can set your own schedule, be your own boss, and make every decision. But one of the few downsides of running your own business is relying on clients to pay on-time in order to keep your day-to-day operations on track. Even if just one […]
What Is the Working Capital Cycle?
Inventory, accounts receivable (AR), and accounts payable (AP) should be familiar terms for business owners. Where it gets tricky is figuring out how to tie these three components together. Fortunately, there’s a concept that encompasses all three: the working capital cycle. Evaluating your working capital cycle is a must if you’re aiming to manage your […]
If Small Businesses Are Doing Well, Why Are Owners So Pessimistic?
Ground Picture // Shutterstock The economy has small business owners in a conundrum. Objectively, small businesses are doing well. Consumers are still spending. Retail sales rose to more than two times what economists predicted as of September 2023, according to the Commerce Department. But, confidence among these business owners is waning, and many are pessimistic […]
Your Guide to Small Business Budgeting
Creating a budget is essential when running or starting a small business. When doing so, setting attainable goals, knowing your limitations, and understanding the best business budgeting tools will give your small business the best shot at profitability and sustained success. Continue reading to learn more about the benefits of budgeting for your small business, […]
Can’t Get Approved for a Loan? Rejections Spiking as Interest Rates Rise
Andrey_Popov // Shutterstock Americans are being rejected for loans at rates unseen in at least five years. The difficulty getting approval is hitting applicants across the board—including those in the market for homes, mortgage refinancing, vehicles, credit cards, and credit card limit increases. altLINE analyzed data from the Federal Reserve Bank of New York’s Credit […]
How To Improve Your Business Credit Score
If you’re new to running a business, you’ll also be a new possessor of a business credit score. Your initial score as a first-time business owner won’t allow you to obtain all the funding you might want, but the saving grace is that you’re not alone. A common struggle of starting a new business is […]
Americans’ Pandemic-Era Entrepreneurial Streak is Holding Strong – For Now
mavo // Shutterstock Inflation has nothing on the American entrepreneurial spirit, which, judging by the volume of new businesses formed, continues to see potential in the post-pandemic economy. To better understand the post-COVID-19 outlook for entrepreneurship in the U.S., altLINE analyzed data and reports from the National Bureau of Economic Research and the Census Bureau. […]
Best Free Apps Every Small Business Owner Should Have in 2024
The ever-evolving modern business landscape is filled with apps focused on boosting efficiency for businesses. As an entrepreneur, it’s important to remember that leveraging mobile apps for running a small business is one of the most efficient ways to grow your company. When utilized correctly, the right apps can significantly improve your team’s workflows, collaboration, […]
