Amidst controversial plans for tax increases and entitlement curbs, President Obama’s budget proposal for 2014, unveiled earlier this month, included a number of changes for the Small Business Administration and its lending procedures, generally aimed at making it cheaper and easier for small businesses to access small business loans.

The changes show a desire to support small business growth as well as increased faith in economic recovery. Under the new plan, the SBA’s budget would be cut by $109 million from their 2012 operating budget to $810 million. Read the full entry

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According to the 2010 census, 7.8 million US businesses are owned by women – a  44% increase over the last census. Women-owned businesses now comprise 30% of non-farm businesses, generating $1.2 trillion in annual revenues.

Many of those business owners got their start by taking advantage of grants designed specifically for women entrepreneurs.

If you are a woman in search of startup funds, look into the following grant programs.

Related: Looking to get a loan, as well? Work with one of our hand-picked vendors Read the full entry

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Small business owners have many and varied needs. But whether you’re looking for your company’s first credit card or the ultimate business platinum card, there’s a card that’s made for you.

Related: Be sure to see what our business card vendors have to offer.

So, if you’re looking for the right card for you, here are some common small business needs, and the best credit card for each situation.

Best for everyday business:
Chase Ink Cash Business Card

The Chase Ink Cash Business is the best credit card to give to employees for day-to-day expenses. It offers high cash back rewards on the purchases small businesses make every day, and the card has few fees. Read the full entry

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We recently discussed the original views on small business and the Fiscal Cliff in Fiscal Cliff 2013 and Small Business.

But, after some time, there is still much talk about what is happening, what will happen and how to prepare for it or evolve with the changes.

As a small business owner the deal either has unintended consequences or unannounced consequences. Regardless of which one it is, your small business is facing them head on. Read the full entry

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Fortunately as of early New Years Day 2013, the news appears to be far more positive than originally anticipated.

According to Newsmax, “The measure would raise taxes by about $600 billion over 10 years and delay for two months across-the-board spending cuts.” Consider how your business will be affected by the good, the bad, and the ugly.

The Good  

• Income taxes for business owners making over $400,000 and couples making over $450,000 have retained their tax cuts at least for now.  (The agreement between the Senate and the President is still tentative.)

Read the full entry

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Even if you run a one- or two-person business, having a business checking account is beneficial. Not only does it separate your business finances from your personal finances, you’ll find it easier to deal with taxes and day-to-day bookkeeping. Furthermore, if your business is ever the target of legal action, co-mingled personal and business finances could make your personal assets liable.
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For the average W-2 employee, tax time can feel like a windfall. On the other hand, if you’re a small business owner with no employees or self-employed with a stack of W-9s, tax time can feel like taking an ax to your bank account.

If that sounds familiar, it’s probably a result of being unprepared. Sure, 2012’s taxes still have to be completed, and maybe you’re dreading a long night or two sifting through folders of receipts and expense reports to maximize your deductions.

Even if that’s your situation for last year, create a system this January that will eliminate surprises and paperwork headaches from your routine next year. Make 2013 the year you get on top of your taxes. Read the full entry

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Invoice factoring is a financial tool used by many companies to help increase cash flow. The process is relatively simple. You sell your open accounts receivable to a factor in exchange for immediate cash.

You benefit by having access to the current value of your open invoices in a matter of hours instead of having to wait 30, 60 or 90 days to be paid by your customer.

This article gives you the three easy steps necessary to find the right factoring company for you. Read the full entry

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Taxes can be a headache for anyone. But, as a small business owner, wrapping your head around the process of filing business taxes, for the first or fifth time, can be confusing at first.

When running your small business, you may find it necessary to minimize your business’s tax bill as much as possible, and make sure you’re making deductions wherever possible.

When planning out your tax plan, here are a few important things to consider. Read the full entry

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Invoicing can sometimes be the bane of a freelancer’s existence. Receiving payment for a service or product you’ve delivered should be a simple act; however, things often get complicated when payments terms are not discussed beforehand.

Customers typically fall into one of four camps: those who pay on time, those who pay late, those who pay in chunks, and those who don’t pay at all. A well-designed invoicing system can save a lot of headaches – not to mention a lot of lean times waiting for the money to come in. Here are five ways to get your customers to pay you. Read the full entry

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