Do you have big plans to expand your small business, but do not want to incur debt to achieve those goals? Then you will be glad to hear it is possible to operate debt free – even if you want to grow fast. However, as your business expands, you will encounter situations and challenges
For years, oil and gas companies have lagged behind as banking, e-commerce and retail industries embraced digitalization and new technologies to boost efficiency, bolster security, improve safety measures and increase profits. However, over the past year, the oil industry has started adopting a growing number of digital solutions in an effort to cut costs
Especially for new companies and small businesses, cash shortages come with the territory. To ensure they have enough cash on hand, more and more companies are turning to more flexible forms of financing that provide the stability their business needs to grow, like purchase order financing. Purchase order financing is one of the more
Are you looking to take your business to the next level this year? Growing a business is not easy. As a small business owner, it is one of the toughest challenges you will face. The key is to keep an eye out for improvements you can make that facilitate growth and increase your customer
The trucking industry is the backbone of the nation’s economy, generating hundreds of billions of dollars in annual revenue. $700 billion, to be exact. Trucking moves 71 percent of all freight in America, and accounts for 6 percent of all the full-time jobs in the country. In 2017 alone, trucks moved 10.8 billion tons
Of all the responsibilities a business owner has, covering payroll is one of the biggest. For successful service-based companies, payroll can also become a huge challenge – a growth bottleneck. Eventually, the service-based company experiencing a growth phase will reach a point where staff is 100 percent utilized. Which leads to the question: how
Millions of small businesses exist in the U.S., with that number fluctuating constantly as thousands close and even more open every single day. If you are thinking about starting a business of your own, there are a few steps you should consider first. While there is no exact recipe for success, answering certain key
Your small business relies on the timely payment of invoices to cover payroll, purchase supplies and equipment and fund growth. When your steady flow of cash is interrupted by late paying customers, your operations will suffer, and your finances can quickly spiral out of control. If your cash is tied up in accounts receivable,
Of the countless obstacles small businesses face, financial challenges tend to be the largest and most complicated. Business finances are complex and ever-changing. A company with a strong financial situation operates and grows smoothly, while the business with too many obstacles will struggle to stay afloat. The key to protecting your business’ financial health
If your business provides services in the booming oil and gas industry, you know how difficult it can be to manage the ebb and flow of cash flow. The rapid growth of the Permian Basin and other U.S. oilfields has presented many opportunities and challenges – both of which require having adequate cash reserves.
