888-352-4229
570-704-5754

Business Development Archives

How to get an SBA loan

An entrepreneur in Pennsylvania who is considering financing options for their small business may want to consider getting an SBA loan. These loans, which are backed by the United States Small Business Administration, have competitive rates and come with a wide selection of options. However, it's important that a small business owner who applies for an SBA loan is aware of how the loans work and prepared to take the right steps to apply.

Some S corps switching to C corps for lower tax rate

The reduction of the top tax rate for C corporations from 35 percent to 21 percent established by the Tax Cuts and Jobs Act has prompted some Subchapter S corporations in Pennsylvania to become C corporations. Because this switch might require a change from overall cash method to overall accrual method accounting, the Internal Revenue Service published Revenue Procedure 2018-44 to clarify the process.

Why social media is still an important part of business growth

More small business owners in Pennsylvania and other parts of the country are feeling optimistic about their financial situations. Results from an annual ranking of business optimism show that 80 percent of small business owners are positive about their finances. However, only 54 percent report having plans to boost social media presence. Part of the reason for this hesitation may be stats showing a decrease in users of major platforms like Facebook, Twitter and Snapchat.

Tips for securing investor capital

Pennsylvania startup creators should always be ready when an investor shows interest in their businesses. One way to convince someone to invest in a business is to have real-time data available. This can make it easier to demonstrate that the company is growing and has a product that people actually want to buy. It is important to note that a company doesn't necessarily need to be profitable to secure venture capital.

Time management for entrepreneurs

Entrepreneurs in Pennsylvania and around the country must manage their time carefully. Designing a website, creating a logo and drafting a company mission statement may seem like important tasks, but they do little to generate revenue. Instead of focusing on developing a business brand and identity, experts in this area recommend that entrepreneurs devote their time to tasks that will produce sales and bring in money right away.

Getting financing for a small business

Pennsylvania residents who want to borrow money for their small businesses may find it difficult to obtain financing. However, by taking time to plan properly, business owners can improve their chances of obtaining the financing they may need. The preparation entails making sure that they have documents pertaining to their financial history, a business plan and projections regarding their finances.

Profit margins slim for e-commerce food companies

The convenience of online shopping has attracted many consumers in Pennsylvania, but online-only e-commerce food and grocery companies do not have an easy path to success. Skipping the investment in a brick-and-mortar location saves startup companies money, but they then have to spend resources on marketing, distribution centers, shipping and employees. As a result, e-commerce profit margins in the food sector are even lower than brick-and-mortar grocers.

How businesses can find working capital

At some point, a business may need a loan for help through a slow season or to repair critical equipment. The first step in the loan application process is determining how much to borrow. Ideally, companies in Pennsylvania or anywhere else in the country will only take what they can afford to repay without causing cash flow issues. A loan-performance analysis may help a business owner determine the appropriate amount to borrow.

What big companies look for when acquiring a startup

For a large majority of entrepreneurs, whether in Pennsylvania or in Silicon Valley, the dream is to start a business, grow it, eventually sell it off and make a hefty profit in the process. Fortunately, this dream is well within reach given that there were more than 50,000 merger and acquisition deals struck last year, amounting to $2.6 trillion. It is estimated that this year will set a new record with $3.6 trillion in deals.

How to launch a successful startup

Throughout its journey, any startup faces numerous obstacles along the way whether it is based in Silicon Valley or Pennsylvania. Fortunately, earlier startups, both those that succeeded and those that failed, have offered the world a wealth of experience and lessons that can help guide any budding enterprises.