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The 10 Worst Mistakes You Can Make When Selling Your Business |
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Written by Editor
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Tuesday, 21 March 2006 |
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The 10 worst mistakes you can make when selling your privately owned small
business by Barry Evans
Thinking about selling your business? You are not alone. CNN Money reports that
35 million baby boomers are expected to retire between 2000 and 2020. If you are
approaching retirement or soon will be, chances are you've considered putting
your business on the market for one of the following reasons:
* You feel burned out;
* Industry conditions have changed;
* You are facing health issues;
* Your business has matured and plateaued;
* Your business is doing well;
* It's a good market for the sale of a business.
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Effective Credit Management |
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Written by Editor
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Thursday, 24 November 2005 |
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The key to survival for any business is efficient credit management and debt
recovery.
In dealings between businesses, a supplier is expected to allow a customer time
to pay for the goods or services provided, but if the customer pays later than
the established date, profits may be eroded. If the customer does not pay at
all, then clearly a loss will be suffered on a particular transaction.
Therefore, a healthy and productive credit management depends on the policies of
payment for the services provided.
Credit management is more efficient when reducing the risk of non-payment
through the means of a credit policy. The credit policy should deal with the
procedure for approval of credit for new customers and the action to be taken to
recover debts.
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Written by Editor
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Saturday, 13 August 2005 |
Credit Scoring
Credit scoring is a system that creditors use to help figure out whether or not to give you credit. Creditors take information about you and your credit experiences, such as your history of paying bills, the number and type of accounts you, outstanding debt, late payments, etc. They put this information into a statistical program and then a credit scoring system awards points for each factor that helps predict who is most likely to repay a debt. Your credit score is the total number of points you receive and is supposed to determine how likely you are to repay a loan on time. To get copies of your report, you should contact one of the three major credit reporting agencies: Equifax—(800) 685-1111, Experian (TRW)—(888) 397-3742, or Trans Union—(800) 916-8800. You should get copies of your report to make sure that there are no inaccuracies on it.
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Preparing and Presenting a Loan Proposal |
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Written by Editor
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Saturday, 13 August 2005 |
Preparing and Presenting a Loan Proposal
How Should I Develop My Loan Proposal?
Your loan proposal should answer the following questions: Who are you? How much do you need? How are you going to pay it back? What happens if you can’t pay it back?
What Should My Loan Proposal Contain?
Summary. This section should be a summary of how the loan will be used, how it will be repaid, and how it will benefit your business. You also need to explain why your business stands out from the competition.
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