How to Qualify for Government Contracts

Ever wonder how your business can get government contracts? After all, the U.S. government is the largest buyer in the world, with purchases amounting to about $500 billion dollars per year. Government agencies are such a big customer of small businesses that some small businesses make their cash solely off of business from government contracts. And maybe your business can capitalize on this big small business customer, too. Here’s your guide to understanding contracting opportunities with the U.S. government and how Read More

How to Apply for a Free Employer Identification Number (EIN)

If you’re a small business owner, or are otherwise self-employed, chances are you’ve heard of an EIN or Employer Identification Number. You may not be clear, however, on exactly what an EIN is, whether you need one or how to go about getting a free EIN if you do. That’s what we’re here for. Let’s walk through the basics, starting with what an EIN is. What is an Employer Identification Number (EIN)? An EIN is a lot like a Social Read More

The Best Small Business Checking Accounts

If you’re looking to grow and sustain your business, opening a business checking account should be at the top of your to-do list. Having a business bank account that’s separate from your personal account allows you to more easily keep track of your money and process financial transactions. But finding the right bank account is crucial. Nav’s 2018 Business Banking Survey showed that 93% of business owners interact with their banking institution on a weekly basis, so choosing a bank Read More

Nav’s 2018 Business Banking Study

It’s no secret that a main formula for measuring the health of your business is how much cash you have in the bank. More cash coming in–and less going out–is a shared goal for businesses everywhere. Banks and lenders view the health of your business in the same manner. When you apply for business financing, most lenders will ask to look at your bank statements from the last six months in addition to your profit and loss statement and financial Read More

How to get business insurance and determine how much you need

Even if you run a low-risk company, business insurance is something you’ll need to consider along your journey as a business owner. As your company grows it will inevitably take on more risk, and business insurance becomes something you need to secure before it’s too late. But what coverage does your business need? There are dozens of different insurance policies or packages that you could end up with, so it’s easy to be under- or over-insured. Do your due diligence Read More

Business Bankruptcy — What Options Are Available?

Business bankruptcy is serious, but it doesn’t necessarily mean the end for your business. It does present some tough decisions and a good amount of paperwork, however, so you need to know what you’re getting yourself into. Let’s take a look at a few questions you’ll want to answer before we dive into the bankruptcy code. Frequently asked questions about business bankruptcy Are you personally liable for your business debts? If you are a sole proprietor, your business is not Read More

D-U-N-S Number — What You Need to Know

What is a DUNS number? The Data Universal Numbering System—or D-U-N-S number—was created and copyrighted in 1962 by Dun & Bradstreet. It is a unique a nine-digit identifier that has become the standard numbering system to identify businesses across the globe. Just as your social security number reveals a lot about you—your bank accounts, tax returns, credit scores, residences, etc., your DUNS number reveals similar information about your business. How can a D-U-N-S number help me? Here are 3 ways Read More

Small Business Grants: 24 Best Places to Apply

There’s no such thing as a free lunch, right? Small business owners know this phrase more than anyone. But when it comes to launching and growing your small business, there are a number of companies, nonprofits and government agencies providing essentially free money to small business owners in the form of a small business grant. You don’t have to make your pitch on “Shark Tank”, refinance your home or take out a business loan to take the next step in Read More

The Pros & Cons of Coworking Spaces

Coworking spaces are one of the hottest trends for those starting or growing a small business: Instead of working from a corner of your bedroom or renting an office, you find a shared space to hang your shingle. In the U.S., coworking spaces can be found in most major cities and some smaller ones, as well as in countries around the world. These arrangements offer the ability to rent space in a place dedicated to entrepreneurs and working professionals. In Read More

What Is a Surety Bond?

One day, an up and coming contractor with a passion for restoration is alerted to his dream job.  A federally funded restoration of a historic landmark is up for bid, and he knows this is more than a dream, it’s a career making move.  With a background that has him well prepared and a workforce he’s confident in, he starts the bidding process only to find out that, because it’s a federal contract, he needs a surety bond if he Read More