Blog Category: Business Management
-
What Is Work in Process (WIP)?
Are you looking for ways to improve your company’s manufacturing process? If you’ve never heard of the term “work in process”, you may be wondering what the difference between work in process and work in progress are. By identifying the differences between these two manufacturing terms often referred to as WIP, you will maintain a constant […]
-
SBA 8a Certification: What Is It, Its Benefits, and How to Obtain It
The goal of the federal government is to award a minimum of five percent of all federal contract spending to small, disadvantaged businesses every year. One way this is done is with 8a certification. What does it mean when you hear someone mention a company has earned 8a certification? It means the business has applied for the […]
-
A Practical Guide to a Leveraged Buyout (LBO)
Leveraged buyouts (LBOs) have gathered a lot of notorious press. However, according to economists, a leveraged buyout is still an important company acquisition tool. The leveraged buyout model is an interesting one and something that all investors should know about. Although potentially profitable, leveraged buyouts also come with a high level of risk. Therefore, it is […]
-
How to Reopen Your Small Business After COVID-19 Lockdowns
The Coronavirus has interrupted our lives and shut down small businesses around the country. As a business owner, you may be in a hurry to reopen your business and get things back to normal. As rules and restrictions continue to ease, it’s important to have a post-COVID-19 plan in place to navigate new ways of […]
-
What Is Credit Card Processing? A Comprehensive Guide for Business Owners
From a customer’s standpoint, there is nothing easier than swiping their card at a point of sale (POS), and they’re ready to move on with their lives. On the other hand, businesses know that it’s not quite as simple as it seems. Whenever a credit card is accepted in person, over the phone, online, or […]
-
What Is Capital Equipment? Everything You Need to Know
You’ve probably heard the term “capital equipment” before, and there’s a reason why. In the U.S., billions of dollars are spent on capital equipment, and spending has increased by over 20% in the last decade. It is often thought of as assets that help generate income. They’re usually costly and have specific requirements. But what […]
-
Put Your Business on Top With These 5 Key Success Factors
As you strive to grow your business and build your bottom line, are you rushing full-steam ahead? Have you thought about the key success factors which will help your business grow? If so, it’s easy to lose sight of the path around and in front of you. Keeping this lightning-fast pace doesn’t only lead to […]
-
What is a UCC Filing (and How Does it Affect Your Business)
The financial agreements you enter into as a business owner are some of the most important decisions you’ll make. Most businesses borrow money or open lines of credit at some point during the life of their business and these are typically secured by a UCC filing. Business owners should have a basic understanding of UCC […]
-
What is Request for Proposal (RFP)? A Definitive Guide
Need certain business services, but don’t know where to turn? In many cases, all you have to do is ask! A Request for Proposal, or RFP, is an official request to acquire products or services that your company requires for a specific project. Interested in getting the best value for your organization? Want access to skilled, […]
-
A Step By Step Outline On How to Write a Business Plan
Learning how to write a business plan is one of the most important steps to take when starting a new business. According to research, creating a business plan can increase your chances of starting your business by 152%. What’s more, published studies also show that planning can cause companies to grow up to 30% faster. […]
