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

The Ultimate Guide to Changing Your Business Name

Changing your business name? At Nav, we changed our name three years after we launched. Although we were a relatively young company, it was still a lot of work—but well worth it. To help make the process easier for you, we’ve put together a checklist we used to help us stay organized. You can download it below and customize it to your needs. Here are some pointers to keep in mind as you start planning for your name change. We Read More

How to Create a Small Business Marketing Plan

You’ve created a business plan for your small business, in which you laid out your vision, strengths, resources and goals for the future. Now it’s time to think about a marketing plan. The two documents will work together in helping you realize your small business’s potential. In fact, your marketing plan will build on the goals you’ve already laid out in your business plan. Creating a marketing plan doesn’t have to be hard. The fact that a large and established Read More

How to Write a Business Plan

Starting a small business is hard work. The list of things you have to do in order to turn your dream into reality may seem overwhelming at first. Anyone who has searched “how to start a small business” online has seen page after page populate with articles on loans, investors, incorporating, credit scores, cash flow, taxes, permits—the list goes on and on. When faced with such a formidable to-do list, it is easy to think of a formal business plan Read More

SIC & NAICS Codes — What Are They & What Do They Mean?

The world of business comes complete with its own unique collection of terms, concepts and procedures, and both new and seasoned business owners may find that their knowledge is tested from time to time. Two of the terms and concepts that are often shrouded in a bit of mystery are SIC codes and NAICS codes.  Though these two terms and the digits that define them are frequently at work in the background, they may get lost among the more overt Read More