Invoice factoring refers to the practice where smaller companies sell invoices in order to receive money today. IN this case they do not have to wait for a credit period of 30, 60, or 90 days. Thus by selling invoices smaller companies do not create debt. This practice of invoice factoring is basically used as a finance management tool. This practice of invoice factoring is usually adopted to avoid any loans or giving any collateral against...more
Whether it's a business loan or a personal loan, there are several common loan application mistakes that many businesses and individuals often make when applying for a loan. Avoiding loan application mistakes is your most valuable tool in being approved on a loan. The following common loan application mistakes can interfere with loan approval.1. Being unaware of your credit rating.Before even attempting to get a loan, know where you stand....more
In today's ever changing economy, it's hard enough for the average working individual to make ends meet, without a wage garnishment, while supporting themselves or their families. Sometimes living pay check to pay check with the regular bills and sudden unexpected expenses is hard enough without having an old student loan debt rear its ugly head to bite you in the wallet. Borrowers who have not made voluntary and timely payments to the institution from which a loan was made, may face a wage garnishment through their current employer. Under the Higher Education Act, the Department of Education and security agencies can require employers to deduct a minimum of 10% of the indebted employee's pay check each pay period toward repayment of the debt. This wage garnishment may continue until the entire balance of the outstanding debt is paid. This method of wage garnishment is used only for the borrowers who refuse to voluntarily repay their defaulted loan and is not used with those borrowers who continue to make regular and timely payments. Employers who have received an Order for Withholding of Wages must conform to the order by law. Employers will only receive information that is...more
Q: One of my former employees has started a competing business and is calling my clients and trying to steal their business from me. Do I have any legal recourse against him? -- Brad J.A: I hate to break this to you, Brad, but unless this former employee signed a noncompete agreement while on your payroll, there is probably very little you can do...more
Last week we discussed the importance of performing an autopsy on a dead business. No, I haven't been watching too many of those wonderfully graphic, TV forensic investigation shows. The reason I recommend you do a business autopsy is to uncover the exact reasons why the business died. This is valuable information that can not only heal feelings of...more
Have you ever focused on something so intensely that your senses seem to shut off? Imagine being a jockey at the helm of a Belmont Stakes contender. Your horse is breathing hard, but you barely notice it. Your body is rocking in tune with the flow of the horse's gait, but you hardly feel it. The resounding cheers of 120,000 screaming spectators are muffled at best, if not completely blotted out altogether. Your focus is on the white finish line, and making sure that your horse's nose cuts over it before anyone else's. A new "challenge" approachesÂ…a stately competitor has inched its way to your shoulder. Now you can see its whole head. The white line looms closer and larger. Can your horse hold out its lead to the finish? Both cross the line. The winner will have to be determined by photo finish. A difference of less than one centimeter separates you and the other guy from the $1 million prize. Did you win or lose by a nose?Real life isn't always that exciting or dramatic, but real life mimics this "win by a nose, lose by a nose" competition all the time. Consider this. If you're firm is attempting to secure a sale and you lose, what do you lose? EVERTHING. If you win, you win...more
Flexible-benefits Plan (FBP) is an employee benefits plan which helps the employees' to save considerable amount of taxes by paying certain expenses from their pre-tax income. Some of the eligible expenses from pre-tax income are medical, vision,...more
I was asked the other day what personality traits I thought were important to entrepreneurial success. I immediately gave my preprogrammed reply about passion and dedication and hard work. After taking some time later to ponder the question a little...more
A poor credit business loan is designed for a business person or persons with a poor credit history.In the life of a business, virtually all come across a time where extra money is needed for business growth, expansion, a new venture, or paying...more
Much of business involves inducing people to do what we want them to do. Whether it is to sign a proposal, return a call, set up an appointment, provide information or pay a bill, we are constantly nudging.In business, to exist you must persist. But...more
IntroductionSupervisors must make sure that they shift their focus from the work itself to the people who do the work - supporting their needs, developing their abilities, removing obstacles and making resources available. They need to make the...more
HOT STOCK PICK FOR THE WEEK:InnerWorkings (INWK) is setting up in a cup and handle chart formation and looking to move higher. InnerWorkings provides print procurement services to corporate clients in the United States, and boasts earnings and...more