The Source

Small Business

How to Build Business Credit If You Have Bad Personal Credit

6 minute read

June 1, 2022

Business credit is essential for several reasons. You’ll find it easier to obtain financing with lower interest rates and more favorable terms with a good business credit score. You can also land better deals with...

6 Factors to Consider Before Downsizing Your Business

5 minute read

May 18, 2022

Deciding to downsize your business may be the most challenging decision you make for your company. Some people who helped you build your business will lose their jobs, and your company’s growth may stall.

How to Plan a Grand Opening Event for Your Business

5 minute read

May 18, 2022

After months or even years of planning, you’re finally ready to introduce your small business to the world. A grand opening event is essential to your launch plan and shouldn’t be an afterthought. This is...

5 Steps to Take If You Want to Transfer Business Ownership

5 minute read

May 18, 2022

As a small business owner, there may come a day when you decide to transfer ownership of your business. Perhaps you'd like to retire and want to transfer ownership to a family member. Or, maybe...

The Top Pros and Cons of Prepaid Business Credit Cards

5 minute read

May 16, 2022

Credit cards aren’t the right funding option for every small business owner. For example, a high-limit credit card might do more harm than good if you struggle with budgeting.

5 Ways to Quickly Pay Off Business Debt

5 minute read

April 27, 2022

Due to interest payments, businesses with excessive outstanding debt may experience decreased cash flow. In addition, they may have difficulty accessing additional capital and may even experience a negative impact on their credit scores depending...

What is a Term Loan, and How Can You Secure One?

7 minute read

April 25, 2022

A term loan is a traditional loan that entrepreneurs can use to grow a small business. Term loans offer an upfront cash infusion with monthly payback terms over a specified period. This post will explain...

Business Credit Score vs. FICO Score: What’s the Difference?

5 minute read

April 21, 2022

You have a FICO score if you’ve ever paid for a car, house, college tuition, opened a credit card account or submitted a rental application.

How to Create a Loss Prevention Strategy for Your Business

9 minute read

April 20, 2022

Loss prevention refers to the steps businesses take to reduce profit loss. The causes of profit loss, addressed by loss prevention, include theft, fraud, and human errors. To combat loss, you must understand the most...