ACC vs. APR: What’s the Difference?

When borrowing money for your business, you may have heard a few different terms surrounding your interest rate: the annual percentage rate (APR) and the actual cost of credit (ACC).   In general terms, these two are the same thing, but they’re not always synonymous with the loan or credit card’s interest rate. Knowing how to calculate each can help you better compare the different options you have for capital for your company. What’s the difference between an APR and Read More

4 Benefits to Monitoring Your Business Credit

You don’t need a new year to resolve to work on your credit. It’s a common goal, and as people look to buy a home or a new car or get out of debt, credit monitoring becomes a hot topic. If you’re a small business owner, you might be surprised to know that you don’t just have a personal credit score, you also have a business credit score to worry about. In a Nav survey, 45% of responding small business Read More

The Vampire That’s Draining Your Business

There are some creepy things happening in companies across America this Halloween. No, I’m not talking about zombie-like presenteeism (which is truly terrifying for productivity goals.) This scary threat to your business involves your ever-increasing utility bills; we’re talking about the very real damage caused by vampire power. Because the U.S. Department of Energy has designated the month of October as national Energy Action Month (and usually share a week of energy tips dubbed “Energyween”), now is the right time Read More

Who Is a Small Business Owner? The Definition Is Broader Than You think

I started my first small business when I was 22 years old. It was an electric sign repair business, and it consisted of me, a truck and some tools. To find clients, I would drive around town all night looking for signs that needed fixing and then call the owner the next day from my kitchen phone and offer my services for half the going rate. It was not a sexy operation. When prospective clients called back—if they called back—I Read More

Rising Interest Rates: A Warning to Small Business Owners

For business owners, 2018 has been a year marked by change. Though much of that change is linked to the 2017 Tax Cuts and Jobs Act, the government, specifically the Federal Reserve, just handed down some more changes, and according to financial experts, they may not be as beneficial. By the close of September, the Federal Reserve hiked interest rates for the third time this year, and economists anticipate that it won’t be the last time this year. The impact Read More

How This Entrepreneur Keeps Her Business Changing with the Times

Cynthia Rowland is the founder and CEO of Rejenuve, Inc. an anti-aging company that deals in natural products, “Because we know that natural beauty is what makes women look fantastic!” she said. The company offers the Facial Magic exercise program for the face and neck, the Luscious Lips lip plumper, and an entire array of skincare items based on botanical and natural ingredients. Why did you start your company? My background is in physical fitness and business. Early on, I Read More

Are Business Taxes Different for Immigrant Business Owners?

It is impossible to provide a thorough history of small business in the United States without dedicating a fair share of time to immigration. Immigrants have always played a significant and positive role in the development of our economy. According to a report by the Center of American Entrepreneurship, the impact of immigration on the business world remains strong, as nearly half of yearly Fortune 500 lists are made up of businesses that were started by first or second-generation immigrants. Read More

5 Tax Benefits for Running Your Business From Home

It’s National Work From Home Week, which means it’s time to celebrate all the reasons that make working from home so excellent. Working from home, for many people, is part of an evolving view on the American dream. Cutting the commute the office, dropping the dress code, and getting work done from the comfort of your own home is the envy of many traditional workers today. For those who own their own business, the added benefit of being your own Read More

Why You Can’t Afford to Pay Your Business Credit Card Late

Using a business credit card can make it easier to run your business and get rewards and perks along the way. But if you miss a payment by as little as one day, your card could become a thorn in your side overnight. So, if your cash flow is intermittent and you’re considering prioritizing other payments first, think again. 4 negative consequences of paying your business credit card late Four things can happen if you make a late payment on Read More

Why Aren’t Business Credit Reports Private?

Having a good credit score is a priority for a good portion of society, and with good cause. From getting loans or mortgages to passing a background check for a new employer, there are plenty of reasons to have a good credit score. Because of this, there are an abundance of services meant to help you repair, build, or protect your credit score and personal information. There are laws and regulations in place to protect your credit, and anyone who Read More