Have you had a recent decline in sales and/or profit in your business? It's so important to know what the full story is behind the numbers. An economic slump, a dying industry, and new competition can all play a role in decreased sales. Sometimes, there may also be a postiive story behind the scenes.
Maybe you've been really burned out and hired additional employees to help carry the load. Perhaps the street was torn up for a period of time. A bit of investiation might uncover a legitimate reason for a decline in sales and/or profits. This would be important information in regards to selling the business and also an area that a professional broker can help uncover.
courtesy of Business Brokerage Press
Friday, August 31, 2012
Friday, August 17, 2012
Check out Fox Small Business Center's article on alternative lending options for entrepreneurs
There is much talk these days about the rise in alternative lending sources since the credit crunch really started to squeeze small businesses in late 2008... here is a great explanation of four of those alternatives...
Published August 14, 2012
When the credit crunch began in late 2008, traditional banks tightened the spigots on funding for small businesses. When the big banks said no, small banks and non-bank lenders increasingly said yes. While big banks reject loan applications almost nine out of ten times, and smaller banks approved less than half of small business funding requests, alternative lenders filled the void.
According to Biz2Credit Small Business Lending Index (figures for the July 2012), big banks (institutions with more than $10 billion in assets) approved 11.3% of small business loan requests, while smaller banks gave the green light to 47.4%. Meanwhile, non-bank lenders picked up the slack. Credit unions approved 54.6% of requests, while alternative lenders, such as Cash Advance Network (CAN) and accounts receivable financers, okayed 61.4% of requests for funding from small companies.
So who are the alternative lenders? They are comprised of non-banks, such as credit unions, CDFIs, micro lenders and accounts receivable financers.
To read a full explanation of each alternative lender... click here to read the full article.
Four Alternative Lending Options for Entrepreneurs
www.smallbusiness.foxbusiness.comPublished August 14, 2012
When the credit crunch began in late 2008, traditional banks tightened the spigots on funding for small businesses. When the big banks said no, small banks and non-bank lenders increasingly said yes. While big banks reject loan applications almost nine out of ten times, and smaller banks approved less than half of small business funding requests, alternative lenders filled the void.
According to Biz2Credit Small Business Lending Index (figures for the July 2012), big banks (institutions with more than $10 billion in assets) approved 11.3% of small business loan requests, while smaller banks gave the green light to 47.4%. Meanwhile, non-bank lenders picked up the slack. Credit unions approved 54.6% of requests, while alternative lenders, such as Cash Advance Network (CAN) and accounts receivable financers, okayed 61.4% of requests for funding from small companies.
So who are the alternative lenders? They are comprised of non-banks, such as credit unions, CDFIs, micro lenders and accounts receivable financers.
To read a full explanation of each alternative lender... click here to read the full article.
Tuesday, August 14, 2012
Costco's Small Business Article on Closing the Deal hits it out of the ballpark!
The following is an excerpt from a recent article in the August 2012 publication of The Costco Connection. This article on selling a business, in our estimation, hits a home run... with bases loaded!
The Costco Connection
August 2012; p22-23
When Tom Schraminski was selling his small healthcare firm, he joshed that he required "intensive psychotherapy" to cope with the aftershocks. Such was the roller coaster of emotions he confronted during and after what is often a life-changing event.
It can be very traumatic," says the Costco member, who now is a vice president for American HealthCare Capital, a Marina del Rey, California-based national mergers and acquisitions firm. It's not unusual for small business owners to encounter emotional swings when putting their "baby" up for sale. After all, many have poured their heart, soul, sweat, tears and identity into their enterprises.
Many small proprietors are skilled at operating their companies, but they're ill prepared for all that happens when it comes time to sell.
To read more of Costco's very insightful article and the eight steps for selling your business... click here. As seasoned brokers, we can tell you they are right on the money.
Closing the deal
Eight essential steps for selling your business
By Harvey MeyerThe Costco Connection
August 2012; p22-23
When Tom Schraminski was selling his small healthcare firm, he joshed that he required "intensive psychotherapy" to cope with the aftershocks. Such was the roller coaster of emotions he confronted during and after what is often a life-changing event.
It can be very traumatic," says the Costco member, who now is a vice president for American HealthCare Capital, a Marina del Rey, California-based national mergers and acquisitions firm. It's not unusual for small business owners to encounter emotional swings when putting their "baby" up for sale. After all, many have poured their heart, soul, sweat, tears and identity into their enterprises.
Many small proprietors are skilled at operating their companies, but they're ill prepared for all that happens when it comes time to sell.
To read more of Costco's very insightful article and the eight steps for selling your business... click here. As seasoned brokers, we can tell you they are right on the money.
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