Category Archives: Business

Business Credit Cards – Managing Credit

Business Credit Cards – Managing Credit

Managing a business is crucial. Business credit cards are handy, since the cards supply a strategy for managing cash flow, business expenses and more. Business credit cards provide convenient purchases, saving cost, comprehensive reports, accessible credit lines, and so forth. The business cards offer business owners the power to stay on top of their spending, overhead, and more.

Purchases

Business credit cards enable cardholders to profit from online and in-store bargains, which embrace business while separating individual usage. Business credit cards equip you to handle your cash flow with accuracy. The all-inclusive reports make it convenient to monitor your cash by the purchase details generated on each statement.

Features

Business credit cards have features, which are comparable to standard credit cards. The cards however, are for executives and business owners exclusively. Small business owners and corporate executives can benefit from the business credit cards. Common features of both business credit cards and traditional cards include, the introductory low interest rates, airline rewards, cash back awards, etc. The cards often include complimentary features, such as separation of personal and business expenses, higher credit lines, unique rewards for business, including savings, and expenditure management reporting.

Small Business Credit Cards for Business

Business credit cards can benefit small businesses. Small businesses are one of the most rapidly growing business sectors, providing strength for the overall economy. Some of the advantages of credit cards for small businesses are that the cards will offer the owners access to capital by way of unsecured credit. What an advantage, since one of the reasons for the failure of small businesses often includes undercapitalization. Business credit cards usage for both small and large businesses will provide access to a credit line, which enables you to purchase supplies, or hire in contractors to enhance your workplace. This card can provide you an aid for purchasing, covering costs, and so forth.

Entertainment and Business Travel

Business owners that frequently travel or entertain clients should consider the cards that offer huge bonus benefits, such as airline miles bonuses. The no spending limit cards are another option, since the card will enable you to cover business expenses with ease.

Expense Reporting

It is important to maintain accurate business records while operating a business. The records should include profitable analysis charts as well as expenses incurred. The reports offered through business credit cards will minimize your record keeping, since you will receive a statement monthly. The report will enable you to monitor expenditures while providing you a categorized report, simplifying your tax preparations.

Card issuers include various fees, benefits, and miscellaneous charges with their card offers. While considering the best credit cards for business, shop the marketplace to compare APR (Annual Percentage Rates), transaction fees, corresponding grace period, customer services, as well as other benefits’ the cards offer.

International Business Programs

International Business Programs

Pursuing an international business career is not an easy task, it usually requires extensive traveling, fluency in a second language which is almost always a requirement in international business, and of course working in this profession necessitates flexibility to fit into very different cultures than your own.

International business specialty offers different paths one could take. The many opportunities for professionals in American business are the same opportunities overseas some of which includes advertising and sales professionals, product managers, retail buying, travel and tourism business, banking, managers and trade experts. International companies must compete in the challenging market thus requiring the need for knowledgeable and business minded professionals.

A bachelor’s degree in business is often required for most people who choose a career in international business. International business jobs can often be competitive and so many aspiring business students go the extra mile of earning their master’s degree in either business administration (MBA) or international business (MIB). A bachelor’s degree is a four year course and a master’s degree is usually one to three years after a bachelor’s degree.

Some international business programs are much more aggressive than others. However, for any of these international business programs, a high school diploma or its equivalent is a minor requirement. Since international business also involves working together and communicating within the cultures, fluency in a second language is another requirement. International business programs of bachelor’s and master’s degree are usually the most competitive and require a high GPA to be accepted. Consulting with a college career counselor is a good way to know the specific requirements for entry into specific international business programs.

Online international business programs offer all levels of preparation for elite individuals who aims towards a career in international business. A lot of international business programs offer classes that can be completed at home. Specific programs can also be offered online such as a bachelor’s or master’s degree in business administration, or associate’s in international business.

International business careers are very rewarding and yearly salaries in this field can vary greatly depending on the company and the type of business. Chief international executives can have pays ranging from $200,000 to $400,000 annually. Lower level directors’ and representatives’ may have salaries ranging from $50,000 to $130,000 per year. Higher end pay scales are most likely for those individuals who have a master’s in international business and many years of experience.

Some of the leading schools that offer International Business programs are the University of Phoenix –Business; Walden University; Ellis College; Regent University; Strayer University; Keiser College eCampus; Kennedy western University: Argosy University (Business & IT); National American University Online; LeTourneau University; Keller graduate School of Management; Berkeley College Online; Jones International University; and Cardean University.

Models For A Home Business

Models For A Home Business

A business model explains how a business plans to make
a profit and how it is positioned on the value chain.

Even a home business needs a good home business model.
The components of a home business model include the
infrastructure.

The core capabilities are capabilities and
competencies necessary to execute a company’s business
model.

The partner network is the business alliances with
complement other aspects of the business model and the
value configuration, which is the rationale that makes
a business mutually beneficial for a business as well
as its customers.

While the best home business models can help promote
and make your home business succeed, there are some
important things you should realize before beginning a
business at home.

There are a few downsides to working from a home
business that even a well-planned model cannot change.
But most things can be planned out and put on paper
before they even come up.

Most businesses go through the same roadblocks and you
can learn from bigger, more successful businesses on
how to structure your business to succeed.

Working at home comes with a lot of distractions.
There are many domestic commitments that can interfere
with your workday.

And if foot traffic is necessary for your business,
your home may not be the best place to impress your
customers or your clients.

But if none of these things will impend on your
business, and then make sure you plan well. Get the
best business model for your home business and you
will be off and running in no time.

The Importance Of Business Credit Cards

The Importance Of Business Credit Cards

Business credit cards have become indispensable to the corporate world today. These credit cards eliminate the risks attached with carrying cash and make purchasing easier at crucial times. Business credit cards prove to be a boon to the business management teams in most establishments.

These business credit cards enable both, the employee as well as the management to maintain a record of their individual personal and business related expenses. The main objective of investing in a business credit card is to be able to take care of any business related expenditure in the absence or lack of insufficient funds. This is more important when the purchase of business supplies at a particular time affect the set business target.

Most credit card companies make attractive offers to their customers to entice them into making investments with the financial institution. In addition to this, most of the companies, apart from relinquishing the annual fee for the first year, also award the corporate enterprises with points to avail valuable discounts on business- related purchases.

Advantages of business credit cards:

– Higher credit limits: Business credit cards carry higher credit limits of $50,000 or more, enabling expensive business purchases. This facility is generally not available on the personal credits card or liquid money.

– Boost in credit rating: The wise and monitored handling of the business credit card and timely payment of bills on time can help to boost the business credit rating. Business suppliers report all monetary transactions to the credit bureaus.

– Separate corporate credit: A business credit card saves you from the trouble of sorting out business expenses from your personal transactions. This makes the process of paying the annual income tax easier, since your personal credit rating would not reflect alongside the business transactions.

– Controls employees’ expenses: A business credit card enables you to set limits on your expenses. The management team members who avail of and use the business credit card are aware of the responsibility entrusted to them and while targeting high company profits, the cards help them to check personal expenses.

– Fringe benefits: The benefits offered on business credit cards are completely connected to the business and may include discounts on business travel and shopping at business supply outlets.

– Business growth: A business credit card helps to promote the growth of the business by facilitating timely purchases to meet immediate business targets.

Select the best business credit card:

Financial institutions and several credit card companies attempt to popularize their cards by offering numerous benefits. It is very essential to research on the best available credit cards and the payment options available with each. In order to make comparisons, you could browse the different dedicated websites. There are many websites that list the different corporate credit cards available and their unique offers. The method of listing the data in a simple format allows you to scan the data, examine the information and finally make a choice. It proves to be very beneficial to access these sites and verify the information presented, before investing. These credit cards not only make business transactions convenient but also prove to be very helpful in building the credit score of the company.

Why Should We Take Secured Business Loans

Why Should We Take Secured Business Loans

Secured business loans are loans which are offered to people who are a little short on money to either start their business or to increase the size or the capacity in which the business is operating in.

A secured business loan is a good option for people who have decided to go ahead with meeting their business needs. The first thing that a borrower must consider before going in for a secured business loan is that he should have a security ready with him. It is a prime clause for taking a secured business loan. A security can be any worthwhile asset that a borrower may possess it can be his home, his car or the business premises in which the main business operations of the business take place.

It is easy to understand why the experts always seem to advice going in for secured business loans as suppose to the other forms of business loans, with the range of benefits it is not difficult to fathom. A businessman can avail the following benefits by going in for secured business loans.

• Secured business loans come at an interest rate which is lower than what may be offered when an unsecured business loan is taken.

• With the secured business loans the borrower can choose his terms i.e. the monthly installments and the period of repayment which help in the long term use of the loan.

• With secured business loans we can choose between the whole range of amount available for the loan which can help in using of the loan better.

The only disappointing thing about the secured loans is that not everyone can afford them and can avail these loans as not everyone is capable of providing a security. However, those who can take full benefits of the loan if they utilize their loans properly.

A borrower can make the following uses of secured business loans.

• To start a new business
• For buying new assets, machines or premises for a business
• Short term business loans for people running business on credit transactions.
• To increase the current business capacity or to launch a new business area.

Reason may be any one thing is for sure that business loans will always be there to help you.

Applying for secured business loans is easy all you need to do is estimate your requirement and then find a lender who will provide you with these loans. Secured business loan usually gets approved in a week or two. So people who want to apply for the loan need to do it with due care and all the details at their disposal.

Making The Most Of Your Business Credit Card Account

Making The Most Of Your Business Credit Card Account

Every individual has now developed a habit of availing the credit. Credit cards have suitably sufficed the needs of individuals. With the growing business credits are also required for business and the personnel associated with them.

Business credit card offers various benefits to the business to identify its identity. A Business credit card is also the one of the marketing technique about the business. It portrays about the business and its corporate standing. Hi-tech or flashy cards are good for organizations that need to portray top corporate image. A business credit card can also be simple and elicit to portray the elegant standing of a business. Professionally designed business credit card helps in maximizing returns from carrying a suitable business credit card.

Apart from the image portrayal a business credit card also resolves several practical business needs. It simplifies the expenditure of employees on behalf of the company. Those companies where the employees need to travel a lot in such a case a business credit card simplifies the expenditure pattern of the employee and all expenses are easily accounted for. Business credit card thus eventually comes in handy for effective cash management, controlling business expenditures and minimizing bank charges.

Some business credit card providers offer discounts on a business credit card issued to the corporate. But such discounts on a business credit card are reserved for large companies. Merchants and banks offer various degree of flexibility on a business credit card. The business owner can nominate the personnel that would be issued a business credit card. He can also set the expenditure limit on different card for different personnel. The employee can settle payments either by check or direct debit each month for any business credit card issued in his name.

Business credit card also offers regular benefits usually accompanied by any other credit card. These benefits on a business credit card are convenient repayment methods, from 25 to 55 days interest-free credit on merchandise transactions, optional card registration scheme and cardholder protection plan, 24 hour 365 day cardholder helpline, cash advances at all banks issuing banks logo, access to a range of other benefits, including discounts on car rental and hotel accommodation, etc.

Business credit card issued by any bank is usually segregated in three categories of small, medium and large businesses. Small business credit card is usually issued in small quantity of up to five cards per organization but eventually helps in separating personal expenditures from those done for the organization.

Medium business card is issued for easy expenditure management up to ten in number. It helps in keeping control on employee expenditure as well give free liability to an employee to make a payment on behalf of the company.

Business credit issued to large corporate usually comes in handy for expenses, procurement and travel management solutions. The issuing bank or merchant for a business credit card provides VAT accounting and detailed management information. Since these cards are issued on over +10 quantity it provides total accounting support.

Small Business Credit Card – Keeping Business and Personal Separate

Small Business Credit Card – Keeping Business and Personal Separate

It can be a challenge for small businesses to acquire the proper funds they need to set up shop and/or to keep it running smoothly. It is also difficult to keep business and personal accounts separate and to build business credit. As a new business owner, a small business credit card might be just the thing you need. If you have an established business, than a business credit card may be a convenient way for you to manage your cash flow or provide emergency funds when your money gets tight.

Personal Liability For Corporate Spending

Lenders are not quick to give lines of credit or business credit cards to new start-ups and small business that do not have an established business credit history. Banks use your personal history when considering you (and your business) for credit. You will be personally liable for all spending using your business credit card and reports will be made by the three consumer credit agencies (Equifax, Experian and Transunion), rather than business credit agencies.

Having your business credit card accounts linked to your personal accounts isn’t the best situation. Large lines of credit for your business may make your personal financial situation appear worse than it really is. If you’re late on a payment or default on a business account this could damage your personal credit history too. Less than good credit can affect your purchasing power and increase your interest rates. You lose options and money. The bottom-line – use a business credit card wisely and keep a clean credit report.

Shopping Around For The Best Credit Offers

If you already started looking around for small business credit cards, you know there are hundreds of cards to choose. From zero percent introductory rates and no annual fees to frequent flier credits and cash back rewards. How can you possibly know which one to choose?

The great thing about small business credit cards is that they offer a few more perks that cater to the needs of business owners, as compared to personal credit cards. Low APRs… large credit lines… grace periods beyond 30 days… frequent flier programs… no fee employee credit cards… Take time to shop around. Depending on your spending requirements and business needs, you can find a business credit card that works best for you.

Building Your Credit

Once you’ve opened up a new business credit card, use it to make purchases on a regular basis and pay off your balances each month. Pay close attention to your personal credit report, ensuring that it stays free of errors, late pays and delinquencies.

After two to five years, you can request that your business accounts be separated from your person accounts. If you can prove that your business is viable and your personal credit history is squeaky clean, then most banks and business credit card issuers will remove the personal liability clause. All business’s financials will be reported exclusively to business credit agencies and your business spending will no longer be linked to your personal accounts.

Although small business credit cards aren’t considered capital, they can be a tremendous help in the running of your business. In tough times just starting out, it can also add a sense of security. Establishing business credit is difficult but with a little basic knowledge business owners can enjoy many benefits of financial freedom. From making purchases online or cashing in on those frequent flier miles, you can effectively manage your cash flow and even save money with small business credit cards.

Finance New Project Through Secured Business Loans

Finance New Project Through Secured Business Loans

Business persons always require funds either to start new venture or expand the established one. Own sources are often not enough for the funds, hence loan taking becomes inevitable. Secured business loans meet every monetary requirement of business people and that too at lower interest rate. Lenders provide secured business loans for variety of business purposes ranging from starting a new business or adding more projects to business and paying towards various expenses.

Secured business loans are offered by lenders on condition of borrower offering collateral in order to secure the loan. Any property like home, valuable papers, jewelry, vehicle etc is enough to provide for collateral. Once the loan is secured, business persons are able to take any loan amount ranging from ₤50000 to ₤1000000 as secured business loans. If higher loan is the need then lender goes for evaluating equity in the collateral. So, for taking greater loan place high equity collateral like home with lender.

With collateral in place, lenders give secured business loans at lower interest rate. Once business persons start comparing different loan packages of the loan providers, the interest rate on secured business loans comes down further. This way business community can reduce the cost of loan and save lots of money.

For business people another advantage of opting for secured business loans is that they have a vast choice of duration to return back the loan. Keeping their repaying capacity in mind, business persons can choose any term from 5 to 25 years for clearing secured business loan. While deciding on the repayment term, remember that higher the term, lower will be the amount towards monthly installments.

Another big advantage of going for secured business loans is that even business persons with bad credit can easily take the loan. Lenders do not care much about credit record of the business people because lenders always have the option of repossessing the collateral in case the loan is not paid back. Still, good credit score enables in taking the loan at better terms and conditions including reduced interest rate.

For availing secured business loans at reduced interest rate and at low cost, prefer applying online. Numbers of lenders have showcased the loan products online. Their terms and conditions vary from each other. There is growing competition in secured business loan market. Business people can take advantage by applying online.

Secured business loans are of great help in establishing a new business and expand the business. Take the loan after giving thought to aspects of taking the loan at lower interest rate and low cost.

Tips For Small Business Costs

Tips For Small Business Costs

Many first-time business owners are completely overwhelmed or unprepared by the amount of small business costs associated with operating a business. Small business costs often lead to the failure of many businesses, especially during the first year, or they even prevent them from getting started in the first place. Through a wide array of government and private programs, however, many small business owners have helpful options to help them finance their mounting small business costs.

A business plan is a necessity for obtaining business startup loans and funding for your business. Without one, most banks and investors will not even consider providing you with business startup loans or other funding for your new business. But a business plan provides more than just the opportunity to receive funding. Properly done it is also a blueprint for you to map out your future success in a written plan that you can stick to.

A business plan for the sole purpose of receiving a small business startup loan must contain several components. The first few pages include the Executive Summary and the Table of Contents. After this is the company description. This is one of the most important sections of a business plan. Your company description will give potential investors a short history of your small business along with the future you are planning for it. It describes plans you might have to expand your business. For purposes of getting small business startup loans, this is one of the sections that loan providers and investors are most interested in.

In the company description, you will want to avoid mentioning that your business is a startup business. Startup businesses are considered very risky investments by most investors. As an alternative, outline details of what you have contributed to the industry that you are currently in or plan on entering. Without sounding arrogant, mention some details or things that you have changed or something you have done differently than others in your market that has proved to be successful. Also, discuss how your business has grown in recent months or years and don’t be shy about your predicted growth. Your excitement and passion regarding your new business needs to be seen in the writing of your business plan to help increase your chances of getting a business startup loan.

One of the last parts of a well-written business plan, but certainly not the least important, is your marketing plan analysis. This is an explanation of your demographics using facts and figures and a study done about your new, potential customers and clients. This section also explains your advertising plans, especially your target market and how you intend to reach them. This section must show that you have done extensive research, appropriate with your market to ensure that your product or service has a large demand. In order to obtain small business startup loans, you will also need to include a sound financial plan, including pro-forma financial statements for your new business.

Small business costs can be a large concern for entrepreneurs and first-time business owners. Fortunately, small business owners have access to business startup loans as well as other forms of business startup funding to help them overcome their financial stress. A business plan is an ideal way to show investors that you are serious about your new venture and that you know how to make it a success. With a some extra financial help, most small businesses can pull through the tough times and remain a viable business.

“Why Business Credit Is A MUST For Every Business Owner!”

“Why Business Credit Is A MUST For Every Business Owner!”

As an entrepreneur, you’re hardwired to enjoy a greater level of risk than the average person. But do you enjoy the thrill of business and investing so much that you’re willing to risk:

-Being hounded by creditors?
-Declaring bankruptcy?
-Being denied a mortgage?
-Paying more than your fair share of interest on your loans?
-Losing your house?

If you answered “no” to one or more of these questions, this may be the most important report you’ve read in a long time.

Because, if you’re like most entrepreneurs, investors, and business owners I’ve met over the past 28 years, you’re in danger of facing all of these horrific problems.

And it’s all because of your business.

You see, entrepreneurs typically make one or more financially devastating mistakes when financing the launch, operation and/or growth of their businesses. In most cases, they don’t realize that they’re making a mistake.

And to tell the truth, even when they do realize they’re making a mistake … they lull themselves into thinking that the consequences will be a minor annoyance.

Until, one day, they can’t qualify for a mortgage. Or they can’t get the to-die-for financing offered on the new car they’re buying. Or they’re hounded by creditors and eventually have to declare bankruptcy.

And it is all because they use their personal finances to fund the launch or expansion of their business. They then use personal credit cards to pay for business expenses. If you are in business or thinking about starting a business, business credit is a must.

Let me explain, most business owner have no idea that they can establish business credit and even fewer know how to how to establish business credit. If owners would take the time necessary to educate themselves about establishing credit they would no longer have to use their personal funds for start up capital or working capital.

They would also be able to use business credit cards which don’t report to their personal credit reports, therefore, not lowering the personal credit scores.

The most important goal of business credit though is to obtain unsecured business lines of credit, which can be done once the business credit profile is set up properly. Once a business obtains unsecured business lines of credit, they then have the working capital they need to start a business or expand their business. The business owner has check book control to use the business lines of credit as they wish. And best of all, the business lines of credit don’t report to the business owner’s personal credit report.

If you have set up your business profile correctly there are a number of banks that will lend to brand new start up business. That is right, brand new start up business with no track record whatsoever. The banks will extend unsecured business lines of credit so they can have the start up capital they need to finance the business of their dreams.

Make no mistake about it; business credit is a MUST for every business owner. Don’t put your personal assets at risk finance or fund your business!