Small Business

Dropshipping: How It Works, What Small Businesses Need to Know

Dropshipping is a fulfillment method where a business relies on a third party to ship orders instead of keeping inventory in stock. Retailers that dropship products will market and sell products but never handle them. Many small-business owners are adopting dropshipping as a stand-alone model or a supplement to shipping directly from their brick-and-mortar stores…. […]

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5 Signs You Need a New Business Bank

Small-business owners tend to stand by their bank. For some, that allegiance is due to loyalty: 40% of business owners say their bank appreciates their business, and 30% feel they are treated better than the average customer, according to J.D. Power’s 2021 U.S. Small Business Banking Satisfaction Study. In other cases, it’s due to inertia….

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What Is a Simplified Employee Pension (SEP) IRA Retirement Account?

The simplified employee pension individual retirement account (SEP IRA) helps self-employed workers save for retirement and get similar tax benefits as employees with traditional retirement plans. Learn SEP IRA rules and eligibility, and the pros and cons of these accounts for small-business owners. The post What Is a Simplified Employee Pension (SEP) IRA Retirement Account?

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Square vs. Shopify: Which Is Right for Your Business?

Square and Shopify offer payment processing services that support in-person and online sales and include point-of-sale, or POS, software features. But they differ in pricing, contract requirements and features. While Shopify might be better suited for focusing on e-commerce sales, Square offers more flexibility. Here’s how they compare. Deciding factors SquareShopify Software costFree with add-ons….

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Payment Terms: How to Use Them for Small Business

Payment terms are the conditions of a sale. They’re usually associated with invoice payments, and specify how and when clients provide payment for goods or services. Terms include when payment is expected, accepted payment methods and any discounts for early payment and/or late fees. They help confirm expectations for clients and business owners alike, ensuring…

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Self-Checkouts: Pros, Cons and How Businesses Can Use Them

Self-checkouts can take many forms, from grocery store kiosks to QR codes at restaurants. Including self-checkout hardware or software as part of your business operations gives customers the option to order and pay for their items without having to interact with an employee. Self-service point-of-sale systems can be essential for some businesses but inconvenient for…

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Workers’ Compensation Insurance Requirements by State

If your business has employees, most states require you to carry workers’ compensation insurance. But whom you have to cover and how you buy this insurance will depend on where you work. Here are the workers’ compensation insurance requirements by state, plus information on different types of coverage and common exceptions states may offer. Workers’…

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What Is Fintwist?

Fintwist is a payroll card company that allows employers to provide multiple employee benefits, including paycard payments and on-demand wage access. The products are geared toward employers with hourly workers — including full-time, part-time and contract employees — who need faster access to paychecks or may not have bank accounts. However, while paycards have the…

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Business Loan Broker: Do You Need One?

Finding and applying for business financing can be time-consuming and complicated, especially if you don’t have much experience with the process. Business loan brokers can save you time, offer industry knowledge and hopefully help you get the best small-business loan offer. But they aren’t necessary for every business. Here’s what you need to know about business…

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Best Business Credit Cards for Balance Transfers

Business owners can often save time and money by consolidating high-interest business debt onto one balance transfer business credit card. These cards offer 0% APR for a set period of time, typically nine to 18 months, allowing you to pay your debt interest-free. We’ve rounded up the best balance transfer cards for businesses, including options…

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QuickBooks Payments Review 2022: Cost, Features, Alternatives

QuickBooks Payments is a sensible payment processing solution for small businesses that already use QuickBooks for accounting, need to accept invoice payments and don’t require other third-party payment integrations. It’s an especially strong choice for businesses that provide services to other businesses, then bill them through QuickBooks Online. However, customer service isn’t 24/7 and the…

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How to Get E&O Insurance for Insurance Agents

Errors and omissions, or E&O, insurance can protect insurance agents from a slew of financial risks, such as mistakes in their work or missing deadlines that affect client coverage. Here’s how it works and what to know about getting E&O insurance for insurance agents. What is errors and omissions insurance for insurance agents? E&O insurance…

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What Is a Third-Party Payment Processor?

A third-party payment processor is a provider that allows a business to accept payments without opening its own merchant account, a bank account needed for holding money earned from card payments. These processors generally offer fast setups, charge flat-rate fees and process transactions from several merchants into shared merchant accounts to reduce operational costs. » MORE: How to…

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Balboa Capital Review

Balboa Capital is an online lender that provides small business loans and equipment financing. Like alternative lenders, you can apply online for funding and receive funds within a few days. In return, you can expect high interest rates and a frequent repayment schedule. Overview: Balboa Capital pros and cons Pros Easy access to financing with…

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Best Ecommerce Fulfillment Centers for Small Business

The ecommerce fulfillment industry is booming and fulfillment centers are springing up around the globe. With so many options, picking the best fulfillment center for your ecommerce business can be a challenging task. Costs, services, minimum requirements, and account management all vary greatly among providers, so finding the perfect partner takes some serious homework. 7 best…

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How to Get a Small Business Loan in Iowa: 7 Top Local Funding Options

The state of Iowa offers several financial resources for entrepreneurs who want to start or grow a business in the Hawkeye State. If you’re wondering how to get a small business loan in Iowa, know that eligibility for these small business loans and grants varies depending on the stage of your business, your company’s impact…

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The 6 Best Retail Business Loans, According to Your Needs

Picking the best retail business loan for your specific needs means knowing where to look. We suggest you start with the top six business loans for retail: SBA 7(a) loans. Best for general expenses. SBA 504/CDC loans. Best for commercial real estate. Business lines of credit. Best for sustained cash flow gaps. Short-term loans. Best for time-sensitive…

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How to Get Funding for a Business Idea With Equity or Debt Financing

If you’re a born entrepreneur, there’s little more exciting than hitting upon a business idea that you know you can spring from your imagination and into the real world. Of course, just like full-fledged operations, business ideas need capital to thrive. The next step is to use that momentum to figure out how to get…

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Small Business Loans in Michigan: The Top 6 Options

During the 2008 economic crisis, the state of Michigan was one of the hardest hit in the country, owing mostly to the state’s automotive and manufacturing sectors. However, Michigan has now bounced back with steady job growth. If you’re starting or expanding a business in Michigan, a great way to secure capital is with small…

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SBA Real Estate Loans: A Guide to the Best Options

The U.S. Small Business Administration (SBA) offers a few different types of business loans to finance the purchase, improvement, or renovation of real estate. SBA 504 loans are specifically designed for financing real estate and other fixed assets, but the 7(a) loan can also prove to be a viable option. SBA real estate loans can be tough…

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