We all know that the banks do not provide a friendly credit environment to the commercial cleaning industry. If they offer any money, it usually isn’t enough. This often leads to an inability to grow your company due to a lack of funds. Well, there’s a type of financing out there that is greatly increasing in popularity in the janitorial industry. It’s called factoring. This type of financing concentrates on your customer’s ability to pay, not yours.
Factoring is the sale of your accounts receivable (invoices) to a funding source at a discount off the face value in return for immediate cash. The funding source is known as a factor.
The process typically works like this: Your cleaning company provide services and issue an invoice to your customer. Without factoring, you wait 30-60 days for payment. With factoring, the factor immediately purchases the invoice and advances an initial payment of approximately 80% of the invoiced amount. In most cases, you’ll have funds in your account within 24 hours. When your customer pays the invoice (payment is made directly to the factor), you’ll receive the remaining balance less the factor’s fee.
Factoring is a well-established form of business financing that produces immediate cash payments to a company at the time of shipment, delivery and invoicing a customer. In its basic form, factoring has been used by American business since Colonial times, and its origins go back even further, literally thousands of years to the early days of commerce.
American consumers take part in a common form of factoring every time they use a credit card. There are 1.4 billion credit cards in circulation, 2.6 each for every American cardholder. In 1970 the average balance on individual cards was $649, increasing in 1986 to $1,472, and today it is an astounding $16,061! Millions of times a day every business that offers customers charge privileges using credit cards is the direct beneficiary of factoring. American retail business depends on the factoring system, and without it, the national economy would be seriously handicapped.
In this familiar transaction, the issuing bank or card company is the factor-using the Visa, MasterCard or other system-advancing the seller of merchandise or service cash immediately after your purchase, long before you actually pay. Because the seller gets cash up front without having to wait for your payment, his money is not tied up in receivables. For the double privilege of making credit available to customers and getting immediate payment, the business is willing to pay a discount to the issuing bank or credit card company-typically two to four percent of the purchase price. Thus for ever $100 of merchandise you buy with a credit card, the seller gets $96 or $98 in immediate cash.
Factoring accomplishes the same for commercial or business-to-business transactions. When you extend credit to a customer, you are essentially becoming that customer’s part-time banker. For the period credit is extended to Customer Smith – 30 or 60 days – you become his lender, and he your borrower. For the length of time credit is extended you lose the value of that tied-up money because you can only anticipate payment. If Mr. Smith had paid cash, you could have invested that money immediately, earning interest on it rather than having to wait. When Smith pays late, your cost increases still further.
Since there is no “free lunch” in business, someone has to pay the costs of your extension of credit; either you pay by reduced profits, or your other customers are forced to pay higher prices. In a marginal company, excessive credit extension and late customer receivables can spell disaster.
Get the Cash you need Today
Want to Turn Commercial Cleaning Invoices into Cash now?Apply Now
Money When Your Business Needs It Most!™
As a part of being in the agriculture industry, you have worked hard to create, import, or distribute the perishable fruits and vegetables that keep American families healthy. As a backbone of American society, you deserve to have the confidence and comfort of being able to grow your business and take care of your family with consistently available cash in the bank.
At Paragon, we understand that when it comes to perishable goods, how difficult it can be to find a funding source who understands and is willing to work with PACA. With the Perishable Agricultural Commodities Act (PACA) rules, perishable goods have special lien rights and regulations. Understanding and dealing with the PACA rules and how it affects a financing package can be daunting for many lenders. The PACA trust puts most lenders at a disadvantage and creates an unwanted risk to them. Until suppliers of perishable agricultural commodities to a borrower are paid in full, a secured lender’s security interests are overruled by the sellers’ PACA claims.
At Paragon, our team knows how to navigate PACA rules and provide the agriculture industry successful funding packages.
What Are the Benefits of Agricultural Factoring?
- We understand PACA Regulations
- Cash in your hands in as little as 24 hours
- Up to 90% advanced on Your Invoices
- Payroll funding available
- IRS issues and liens can often be a non-factor
- Pre-approve your clients credit
- 23 years servicing the agricultural industry
- Credit protection against bankruptcy through Paragon’s Non-Recourse Factoring
What is PACA?
The Perishable Agricultural Commodities Act (PACA) are rules and regulations that help fresh and frozen fruits and vegetable sellers with vital protections to cover legal disputes as well as financial protections for the produce sellers. Protections include prioritizing payments to sellers if a grocery store files for bankruptcy and dispute resolution should one arise. There are requirements to gain these protections such as being licensed by the USDA.
PACA was specifically designed to help the produce industry protect themselves from middlemen and grocery chains. It has also opened opportunities for sellers to get safe funding to speed up their agriculture receivables collections and to get that important cash in the bank even faster.
The Agricultural Marketing Service is responsible for administering PACA and its related services to the produce industry.
What is Agriculture Factoring?
Agriculture factoring helps to keep market shelves filled with your produce – and more of it. Agriculture receivable factoring provides you with non-recourse funding on your open accounts receivables in record time, giving you the critical working capital immediate you need to run your business. Traditional banks often will often not loan you money, their loan approval process takes an exorbitant about of time or they simply won’t deal with PACA.
For the business owner who uses agricultural factoring from Paragon Financial, they receive fast, affordable funding releasing you from the uncertainty and worry of getting paid. You get the peace of mind that the cash flow will be there to keep your business running smooth. Paragon Financial can help by providing the cash on your accounts receivables produce sales, you can then provide even more high-quality produce to stores – and on that additional round of shipments, Paragon will still be there to get you funded and paid sooner.
Even in one-off cases of spot financing, Paragon Financial can help get you that bridge to cover your payroll funding or order financing cash flow to bridge you into the next sales and receivables cycle.
Let Paragon Financial help you maximize your businesses supply chain and annual sales by accelerating your collection period with its agricultural factoring offers.
Who Can Qualify for Agriculture Factoring?
- Companies along the Supply Chain that Follow PACA Rules and have a USDA License
- Startups, Turndowns, Bank Exiting or underperforming Banking Relationships
- Personal Credit of Owner is not an issue; we look at your customer’s ability to pay
- Businesses looking for Competitive Finance Rates
- Fast Growing Companies with sales of $25,000-$3,000,000 per month
- Paragon can move Quickly on New Client or High Growth Client Approvals
What is the Cost for Agriculture Financing?
Money When Your Business Needs It Most!™
How do Nurse Staffing Agencies get Funding?
Even for the best-run nurse staffing agencies, payroll, rapid growth and similar challenges are complicated issues. Clearly, running a nurse staffing company is no easy task. Try navigating through the above financial pressures with the complexity of scheduling, federal and state staffing requirements and working with staffing models such as patient acuity, budget-based, or nurse-patient ratio. Having readily available working capital on hand helps turn these challenges into a profitable venture.
One of the best ways to achieve the financial strength nurse staffing agencies demand is through invoice factoring. Factoring is a fast, safe and affordable way for the nursing staffing industry to meet their financial needs. Factoring loans give nurse staffing agencies the leverage to get payments from their clients immediately vs waiting 30 to 60 days or even more. Paragon Financial’s non-recourse invoice factoring programs provide AR management services along with comprehensive credit protection. This all means the life of running a nurse staffing company is a bit less complicated.
What Kind of Staff Nursing Companies Can be Funded?
Invoice factoring and payroll financing are flexible funding programs that are successful in a wide range of nurse staffing segments. This includes, but is not limited to:
- General Nurse Practitioners (NP) and Family Nurse Practitioners (FNP)
- Travel or Traveling Nurses
- Registered Nurses (RN) and Licensed Practical Nurses (LPN)
- Home Care Registered Nurses
- Locum Tenens Physicians
- Private Duty Nurses
- Temporary Nurses
- Certified Nurse Anesthetists (CRNA)
- Clinical Nurse Specialists (CNS)
- Pediatric Nurses
- School Nurses
- Government and Public Agency Nurses
What is an Example of Factoring Loan for a Nurse Staffing Agency?
Your nursing staffing agency has an outstanding invoice for $100,000 from an excellent quality customer. The only problem with your customer is their payment term of 45 days. You are a staffing service based company with good, creditworthy customer. This will earn you a 90% advance rate. Most of your expenses are payroll and it is important make sure you have working capital consistently flowing in to pay your temp nurses and payroll taxes, suta, futa and workman’s comp premiums.
Once the $100,000 invoice is verified, your nurse staffing company receives a same day wire transfer of $90,000 into their bank from the factoring company.
You are charged a fee from the factor which varies depending on the length of time your customer takes to pay. For example, your fee is 1.5% for first 30 days an invoice is outstanding. In this case, your fee would be $1500. Your customer pays in full within 30 days and you are wired the remaining balance minus the $1500 fee. In this scenario, you received $98,500 out of the $100,000 original invoice and got 90% of it up front for a $1500 fee. There are other minimal fees such as wire transfers.
Why use Paragon Financial for your Nurse Staffing Funding Needs?
Paragon Financial is a factoring company with over two decades of experience funding the healthcare, nursing and staffing industries. We understand how to work with your specific needs, bringing nurse staffing agencies the cash flow they deserve to smoothly grow and manage their companies. Nurse staffing companies receive high advance rates along with the extra protection and benefits of non-recourse invoice factoring, accounts receivable management and credit protection.
Money When Your Business Needs It Most!™
1.3 rate factor? Notarized COJ? What do these terms even mean? And more importantly, what is the real cost to you of a Merchant Cash Advance or MCA Business Loan? MCA loans are seen as bad credit business loans and are typically 4 to 10 times more expensive than Invoice Factoring with none of the protection. The MCA ACH Loan Rule of Thumb says, whatever the MCA Rate Factor dollar amount is over the payback period, your net profit should be more. If not, at the end of that period you will be that much closer to bankruptcy. For example, if the ACH loan cost is $30k and you are paying it back in 3 months and your net profits are less than $30k in those 3 months – DON’T DO IT!
Also, a merchant cash advance loan is a one-time event. You get $100,000 once, and then you hemorrhage cash via daily ACH payments from your bank account until it is paid off. With Paragon, you are rewarded for growth. The more sales you generate, the more working capital you receive based on your increased client billings. We have clients who grew from $50,000 to $1,000,0000 in sales per month and Paragon was with them for their entire successful journey with unlimited working capital and credit protection.
The only plus of an expensive ACH loan is you get your money a few days faster than from a reliable invoice factoring company like Paragon. However, the hidden negatives are so onerous that they could kill your company.
Example Rates & Fees: MCA/ACH Loan vs Factoring
$100,000 from a Merchant Cash Advance lender
Hypothetical $100,000 from Paragon Financial
Factoring $125,000/month with a 80% advance @ 1.5%/30 days
Invoice Factoring from Paragon typically includes the additional value-added services of Credit Protection & AR Management, which means you receive even additional superior value versus any ACH/MCA/marketplace loan. You get so much more than just working capital from a good factoring company like Paragon.
Our invoice factoring calculator estimates both factoring’s benefits and costs to you and allows you to compare the cost of lenders who offer fewer services and versus the killer high rates of a MCA loan.
Get the Cash you need Today
The Sad & Expensive Truth about Merchant Cash Advance (MCA) Loan RatesApply Now
Money When Your Business Needs It Most!™
It is not uncommon for staffing agencies to experience working capital challenges, especially with weekly payroll. Invoices can take up to 90 days to be paid, all the while you still have to pay your staffing payroll on time. Whether you specialize in short and long term temp work, or professional recruiting, there are going to be times when the amount of cash coming in is not able to cover what has to go out. These issues are relevant no matter what industry your staffing firm represents from janitorial to nursing, to security guards to teachers.
What Mistakes Do Staffing Agencies Make to Gain Working Capital?
It’s understandable to grow frustrated about the lack of cash and payroll funding for your temporary agency, especially when you are gazing at a stack of unpaid invoices. This could lead to you instilling practices that will eventually stunt your agency’s growth:
- Adding excessive late fees to any client who pays you after 30 days
- Making late payments on your operating costs
- Not meeting payroll and paying your employees on time
- Being overly aggressive in your collection techniques
- Only providing staffing for clients who promise to pay invoices within 30 days
These strategies might be useful for increasing cash flow short-term but is not a good way to keep clients. Over time, they will look elsewhere for their staffing needs, and your staffing talent will find a firm that pays on time. Not paying your overhead costs on time will affect your credit, and the ability to get financing in the future. What solutions are there to meet your financial obligations?
How About a Business Loan for Working Capital?
One solution is to ask a bank or other lender for a working capital loan. This option takes up a good deal of your time, and you will have to provide the bank with stacks of paperwork. Your business credit is scrutinized, and you could be asked to present a business plan for the future of your staffing agency. Most likely, your company will be not be approved after going through a circus act to even be reviewed by the bank.
Even if you make it through the application process and get approved for the loan, you have to commit to making monthly payments to absolve the debt. This only exacerbates the issue of having to wait 60 days to get your hands on the cash from an unpaid invoice. A straight business loan is useful in some situations, but not helpful for the structure of a temp agency.
How Do Factoring Companies Help Staffing Agencies?
The complicated structure of staffing firms makes working with a factoring company ideal. They are payroll funding experts and are used to working in complex funding situations. Your largest assets lie in your staffing talent, and the invoices that they have generated. Factoring companies are able to leverage these unpaid invoices as a type of collateral for securing the financing your agency needs to meet its weekly financial obligations.
A Factor gives you cash for unpaid invoices upfront. This funding type is not a loan so you will not be subject to any form of interest on the money advanced to you. Non-recourse invoice factoring gives you the flexibility to get the cash you need immediately in the way you need it. You can choose which invoices to hand over to the lender, and on which you can wait to receive payment. The invoices signed over become the responsibility of the factoring company for management and collection. Factoring companies have deep experience working with a soft-touch and representing the interests of all parties involved. Staffing firms do not need to worry about a heavy-handed, uncaring ‘collection agency’ mentality. If you have a non-recourse contract, then even if the client does not pay, in many cases you are not required to pay the factoring company back.
Is There a Downside to Factoring for the Staffing Agency?
A factoring company will research the credit history of your clients before accepting an invoice, especially if they are offering a non-recourse solution. This could lead to them declining certain customers, or charging you a higher fee for taking their invoices. The flip side to this is that the factoring company can help you determine the credit worthiness of your business clients, and might even make recommendations to you for who to work with in the future.
A staffing agency is much easier to manage once you resolve the cash flow issue. Without having to worry about when your clients will pay, and how you will meet weekly payroll. You can devote more time towards recruiting qualified talent, keeping up new industry regulations and pitching selling the perfect talent to new customers.
Money When Your Business Needs It Most!™
Who Benefits From Cash Against Documents (CAD) Transactions?
International trade can be tricky business on both sides of the border. Straight credit is ideal, but usually impossible to obtain when trying to purchase goods from an overseas exporter. Cash Against Documents (CAD) financing is the solution that helps ensure that exporters get their money on time while importers get the goods needed for their business.
What does Cash Against Documents Mean?
Simply put, CAD financing is a method in which an importer pays for goods before receiving them. To ensure that both the parties are satisfied with the transaction, a third party accepts the shipping and title documents for the exported goods. These are not released to the buyer – or importer – until the payment is received. This situation is similar to real estate transactions, where an uninterested party holds money in escrow until the transfer of the home’s title is complete.
There is a benefit of CAD financing for both sides. The exporter is guaranteed the payment for the goods shipped, and the importer can ensure that they receive precisely the goods they paid for. This method eliminates the headache of having to try and resolve business transaction issues across borders, once that transaction is complete.
Comparing Cash Documents vs Letters of Credit
Letters of Credit are another financing method used to help facilitate international trade deals. Like with CAD financing, letters of credit benefit the exporter who is unwilling to offer open trade credit. One reason for this is because they’re unfamiliar with the importer, or that the buyer does not have a credible credit history.
The actual letter of credit is a formal letter provided by the importer’s bank, promising their financial support to the buyer and this gives the exporter the right to demand that the bank will pay for the shipment if the buyer does not pay. This can be for a one-time purchase, or the buyer could establish a line of credit with the financial provider that allows them to make regular purchases from the same exporter.
The seller gets the most advantage from letters of credit, as their payment is virtually guaranteed unless there is a severe breach of the agreement they have made with the importer. For the buyer, this method affects their line of credit and credit score, potentially interfering with their ability to deal with other vendors or take out business loans to increase their productivity. For some who do not have a stellar credit score, the bank may even insist on a cash deposit to secure the amount listed on the letter of credit.
What are the Cash Against Documents Terms?
The terms and conditions for a successful CAD transaction are straightforward. The documents for the shipment are prepared by the exporter once the buyer places the order. Those documents are then sent to the financial institution that is facilitating the transaction and held until the shipment arrives and the buyer makes the payment for the goods. Once payment is received, the documents are given to the importer, while the exporter receives the funds.
Even though a third party is holding the shipping documents, the exporter retains ownership of the goods until the funds are transferred. The importer cannot take ownership of the property in the shipment until they are given the title and shipping documents.
What is the Cash Against Documents Process?
The exporter or seller typically initiates the CAD transaction. Once the order from the international buyer is accepted, they will prepare the necessary shipping docs required by the country of origin and country of destination. A standard form that is included in these documents is an Export Collection Form. This Export Collection Form, a bill of exchange, and other shipping documents are forwarded straight to the financial institution that is used by the exporter.
Once the documents are sent, they are held with the provision that they cannot be released to the importer until the designated payment is made to the financial institution. The transaction is not complete, and the seller retains ownership of the entire shipment until the financial institution receives the payment.
What makes this form of international financing advantageous to the buyer is that they can inspect the goods before transferring the funds to the financial institution. This protects them by ensuring that the goods are of the quality promised and in the quantity that they had requested.
After approving the shipment, the buyer pays the financial institution the pre-arranged amount for the consignment. Once the payment is received, it is forwarded to the exporter while the importer receives all of the shipping paperwork and title to the goods.
Who Pays For a CAD Transaction?
The financial institution that helps to facilitate this type of transaction charges a small fee for the service. Since both parties benefit from a CAD transaction, it is not uncommon to see them split the cost. If not, the party responsible for the fee as per the original agreement is the one who pays the fee. Because of the complexities involved in international trade, and the protection, that CAD transactions provide for both sides of the transaction, the cost paid to the financial institution who acts as the intermediary is well worth the expense.
Are There Any Risks in a CAD Transaction?
Although a CAD transaction does eliminate most of the risk involved in international trade for both parties, it is more advantageous for the importer. Especially when compared to letters of credit. A CAD transaction is less expensive and does not have any effect on the importer’s available credit. The seller still assumes some risk in that the buyer could refuse the delivery. In this event, the exporter would then have to absorb the additional cost of having the goods shipped back to them.
What to Look For in a CAD Transaction Funding Company
While some banks do provide CAD services, they may charge higher fees than a private company. Plus, they may not have the experience and knowledge required to handle this type of international transaction. These are complex transactions that require a level of expertise that many banks simply do not have. A funding company like WIP deals with this type of transaction daily and is better equipped to handle the intricate paperwork involved. Plus, they have gained experience in international import and export that will prove invaluable in ensuring successful CAD transactions.
Money When Your Business Needs It Most!™
Is a Merchant Cash Advance Consolidation the Answer to Your Business Cash Flow Issues?
It starts with a small merchant cash advance, which leads to another and then another, until before you realize it, all of your business credit card sales are going towards paying off these debts. This practice of stacking merchant cash advance loans – or ACH – can quickly put your business into a downward spiral. One solution to help you get out of this cycle of business debt is with a merchant cash advance consolidation.
What is a Merchant Cash Advance?
A business in need of quick working capital might look at a merchant cash advance for a cash-flow solution. So long as you have a merchant account and accept credit card payments, you could qualify for this type of small business cash advance. The merchant will loan you the money you need, and then accept repayments towards that loan through your credit card sales, virtually guaranteeing that you do not default. Of course, there will be interest and other fees deducted as well, but all of this will be bundled together into your payment plan.
Some businesses in dire need of working capital may commit to more than one of these types of business cash advance loans. This practice is known as stacking, and can cause the business to have to make daily repayments that they really cannot afford. In essence, the inflow of money can come to a near standstill if the business is one that relies heavily on credit card revenue to survive.
The Benefit of Merchant Cash Advance Consolidation
Merchant lenders like this type of business cash advance because the repayment is practically guaranteed through the business’ sales. If you were to consolidate these debts into one, the lender is still going to get their money back (and the fees they charged you) but the terms will be adjusted so that you are still able to collect on your daily sales receipts and keep a flow of cash running to your business.
What is a Business Debt Consolidation Loan?
A debt consolidation loan for a business is not much different from one used for personal financial difficulties. You apply for a specialized lending product that details the extent of your business debt. Once approved for the loan, the new lender will pay off the existing merchant cash advance debts, essentially leaving you with only one payment to make, where before you had multiple. In most cases, even after interest rates and other fees are calculated, you will have more cash left over each month to work with. Moreover, when looked at over the long term, you will find that by consolidating those merchant cash advances, you have saved your business thousands of dollars.
The terms of a merchant cash advance include deducting a certain percentage of your money every day from your credit card sales. This can put you in a position of not earning enough to keep up with your expenses, especially once you have more than one of these types of cash advance. With a straightforward merchant cash advance consolidation, terms can be chosen that will still allow your business to move forward with enough working capital.
How Would Your Business Qualify for a Merchant Cash Advance Consolidation?
A reputable business lender would look at your business credit score, but they will also be interested in the amount of revenue your business is making, and how the merchant cash advances are adversely affecting your cash flow. They will then try and work with you to construct a repayment plan that you can meet easily without hurting your sales. If you are able to show that your business will still be sustainable with a merchant cash advance consolidation loan, then there is a good chance that you and your business can qualify for one.
If you find that you are continually in debt after having started on a cycle of merchant cash advances, it could be that you are overextended in credit, or that your business structure cannot withstand the loss of sales receipts that are common with this type of product.
In order to avoid losing your business altogether, meet with an alternative business loan provider like Paragon Financial to see what your options are and what types of loans you and your business could qualify for.
Questions regarding MCA consolidation? Ready for fast, secure funding now from an experienced factoring company, please contact our National Sales Manager, Chris Curtin via email or toll-free at 888-400-5931 ext 1.
Money When Your Business Needs It Most!™
Fear is dominant in today’s economy from the volatility of the stock market to unknown/unwanted rules and regulations pouring down from the federal government to oil prices unexpectedly plunging, to the possibility of yet another recession around the corner. Fear can be debilitating and makes running your business that much more challenging. The best thing to combat fear is education and positioning yourself to be smart and ahead of the curve with your business in 2016 and beyond.
1. Government Risk & Regulations
Running a profitable small business is hard enough, now add the ever increasing government regulations that are constantly changing and creating serious headaches. From $15 minimum wage hikes to required health care for all your full-time employees, to higher overtime expenses, small business is experiencing a slew of regulations that severely affect their ability to run their businesses.
For over 5 years running, small business owners have cited regulations as a top impediment to conducting business according to the NFIB Small Business Optimism Index.
“We’re going beyond the point where we can comfortably operate a functioning business and meet the requirements of these laws,” says Diana Lamon, a Los Angeles restaurateur.
Check out the many facts and figures regarding the impact of government risk & regulations here.
2. Your Company Being Sued
Everything is going well in your business then out of nowhere a major contract falls through and you cannot pay a supplier or perhaps a customer falls ill from one of your products. These scenarios do and can happen and when they do, lawsuits are coming next.
Do you believe you are personally protected? Think again, if your company is not set up properly it opens up the possibility of losing your home or other personal assets. This is known as ‘piercing the corporate veil’. Are you still running your business as a sole proprietor? Are you loose with personal expenditures vs real company expenses? For example, if it appears to a judge you have deliberately run your company into debt you can be held personally responsible.
Proper insurance is also essential to protect yourself from lawsuits. Get advice from your trusted lawyer, CPA, commercial insurance consultants and other mentors in your industry on the types of insurance your company requires. Being insured is one thing, but being properly insured is what is going to protect you.
You think hiring new employees is no big deal in today’s economy? Think again, the job market has been favoring candidates over employers. There might be more individuals looking for work or a better job, but that isn’t translating into the qualified candidates companies are looking for.
“It’s going beyond the traditional hot job sectors of tech and health care at this point. Truck driver might be a harder job to fill right now than software developer,” says Tim Sackett, an HR blogger and president of HRU Technical Resources. “I actually have hiring managers say to me, ‘Just find us people who will actually show up and work’ — and these are for professional jobs.”
Many companies are providing more perks such as free lunches or gym memberships to help recruit and retain employees. In the IT space, companies are offering sign-on bonuses, paying relocation costs, free medical and dental insurance, company-paid mobile or car plan and even unlimited vacation.
We all know getting a business loan isn’t like it used to be. Only 21% of companies applying for a commercial loan at a traditional bank get approved. There is a dizzying array of ‘loan’ products out there from the incredibly high rates of a MCA/ACH loan to online small business lenders offering cash to high-risk companies with approvals right online. Of course this is a house of financial cards ready to come crashing down.
Deciding where and how you get your company funded is one of the most important decisions you will make as a business. Do you have IRS issues? re you a start-up? Do you want to take on additional debt? Does the funding company have the experience to help you navigate through all the ins-and-outs of your specific situation?
Obtaining the proper funding advice is crucial to your business success.
Changing technology is nothing new in 2016, but it’s no less of a challenge for companies of all sizes and industries. From cyber security to keeping up with competitors, dealing with technology is no easy task. With each passing day it becomes more crucial your company takes their business process online. As the new generation becomes your critical buyers and partners, they will expect to have online tools to complete business.
Those companies that continue to do business the old way, no matter how established, will suffer from not adapting. Just March of last year the number of mobile-only adult internet users exceeded the number of desktop-only internet users. For example, more people will open this blog on a smartphone than on a desktop. Has your company had discussions of new mobile apps, integrating new technologies into your business processes or even cloud computing? Better get this conversation started or you could be left behind by your more tech savvy competitors.