By Jovana
One of the most important things that you, as the small company owner, have to take care of is financing of your business. Huge amount of money is thrown every year by small businesses simply because they are not running their financing efficiently. This is also the area of small business where entrepreneurs struggle most, since you cannot work without money-cash flow is the lifeblood of the business.
Small mistakes and lack of knowledge can be sources of serious problems and costs. However, you don’t need to be professional economist to know how to avoid them.
Here are some advices which will help you establish a healthy relationship with your business finances. Read more »
The Small Business Administration has announced proposals for the improvement of the 8(a) Business Development Program for disadvantaged small businesses.
The first comprehensive review of the 8(a) program in several years resulted with the proposed 8(a) regulation changes that were published in the Federal Register. The public comment period on the proposed changes is open for 60 days. Read more »
CIT group, a nation’s leading lender to small businesses, has filed for Chapter 11 bankruptcy protection. The bankruptcy was expected, since the company was struggling for months to avoid it, and came very close to declaring Chapter 11 bankruptcy in July 2009 after the Treasury rejected the CIT’s request for additional bailout money, but was rescued making the agreement with the bondholders group. The lender filed for bankruptcy on Sunday, after the debt-exchange offer made to CIT’s bondholders failed. Company’s bondholders opted for a prepackaged reorganization plan which will reduce its debt by $10 billion and allow it to continue doing business. Read more »
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