11 06 2015

Boost Small Business Efficiency

11 06 2015

4 Ways To Boost Small Business Efficiency

No matter what you might use it for, everyone can agree that one of the best ways to optimize a small business loan is to boost efficiency in the workplace. Improving the company through eliminating inefficiencies doesn’t require owners or employees to work longer hours, but it can nonetheless increase productivity, ultimately leading to greater revenue.

Despite the bevy of benefits greater efficiency offers, nearly 80 percent of Americans want to be more efficient, according to a recent survey by Crucial.com. While improving efficiency levels is not something that happens overnight, there are multiple ways small-business owners can implement greater efficiency rates.

Here are four ways owners can utilize a small business loan to maximize efficiency levels in employees:

  1. Circulate smart mobile devices
    According to the survey, 87 percent of Americans said technology is crucial to their productivity levels. Additionally, 63 percent said technological failures contributed the most to their lack of efficiency. In this light, small-business owners should invest the necessary working capital into the company to ensure employees have access to adequate technology to help boost efficiency. In particular, circulating smart mobile devices for workers allows them to remain in contact with the company during sales calls or at on-site meetings. This alleviates the burdens of waiting to return to the office and provides real-time access to all pending emails and data, especially for companies that utilize enterprise resource planning software.
  1. Update technology
    Slow computers or out-of-date software can wreak havoc on a company’s efficiency levels. Not only does top-of-line technology increase productivity, using better devices also has a psychological effect on workers. Four out of 10 male respondents to the survey indicated that having a fast computer makes them more productive. When employees deal with slower technology on a regular basis, they become frustrated and disinclined to perform their workplace duties. Upgrading the computers and other office technology not only boosts efficiency, it can also help employees get into the groove of being more productive. Besides loans, IT equipment leasing can help conserve capital and ensure your business has the most up-to-date technology.
  1. Review ergonomic standards
    Many small-business owners fail to consider how the layout and design of chairs, desks and work places can impact employee productivity and efficiency levels. Poor workstation components can create problems and significantly decrease efficiency. According to the Occupational Safety and Health Administration, providing ergonomic chairs, desks, document holders, keyboards, computer monitors, telephones and wrist/palm supports for employees decreases physical stress levels by maintaining neutral body positioning, which is the comfortable working posture where a person’s joints are naturally aligned. Having workstations that are not ergonomic can create additional stress and strain on the employee’s body, leading to a decline in productivity, and, in some scenarios, physical pain and suffering. Owners can avoid these issues by having the right kind of ergonomic workstations for employees.
  1. Streamline marketing platforms
    Marketing the business is always a top-of-mind priority for owners, and one that takes a significant amount of time and resources. Marketing efforts tend to be siloed off into a variety of platforms, including email blasts, social media exposure, and advertising efforts. All of these methods require individual attention and dedication to make them work efficiently. For many small businesses, the owner is the sole marketer, which means these myriad methods detract from other important endeavors. However, according to SocialMediaExaminer, with applications like MarketMeSuite, owners can manage all their social media profiles in one, easy-to-use design. This not only decreases the amount of time spent switching between LinkedIn and Facebook, or Twitter and YouTube, but it also helps owners keep track of potential leads and prospective clients all in a single repository.

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Any applications submitted electronically shall have the same force and effect as if the application bore an inked original signature(s). The above information, together with any accompanying financial statements, schedules, or other materials, is submitted for the purpose of obtaining credit and is warranted to be true, correct, and complete.

 

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To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person and business that seeks a business loan. What this means for you: When you apply for a loan, we will ask for your business name, address, and Tax Identification Number. We will also ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver’s license or other identifying documents.

 

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The Merchant and Owner(s)/Officer(s) identified in the application (individually, an “Applicant”) each represents, acknowledges and agrees that (1) all information and documents provided to National Funding, Inc. (“NF”) including credit card processor statements are true, accurate and complete, (2) Applicant will immediately notify NF of any change in such information or financial condition, (3) Applicant authorizes NF to disclose all information and documents that NF may obtain including credit reports to other persons or entities (collectively, “Assignees”) that may be involved with or acquire commercial loans having daily repayment features and/or Merchant Cash Advance transactions, including without limitation the application therefor (collectively, “Transactions”) and each Assignee is authorized to use such information and documents, and share such information and documents with other Assignees, in connection with potential Transactions, (4) each Assignee will rely upon the accuracy and completeness of such information and documents, (5) NF, Assignees, and each of their representatives, successors, assigns and designees (collectively, “Recipients”) are authorized to request and receive any investigative reports, credit reports, statements from creditors or financial institutions, verification of information, or any other information that a Recipient deems necessary, (6) Applicant waives and releases any claims against Recipients and any information-providers arising from any act or omission relating to the requesting, receiving or release of information, and (7) each Owner/Officer represents that he or she is authorized to sign this form on behalf of Merchant.(8) I consent to receive direct mail, faxes, text-messages, and e-mails sent by National Funding and its affiliates for the purposes of transmitting account updates, requests for information and notices, and (9) this request is for business and not for consumer purposes.

 

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I hereby certify: (1) the information provided is true and correct, (2) you are hereby authorized to investigate all bank, credit, and trade references, and said references are hereby authorized to release any requested information to you or your nominee, (3) such authorization shall extend to obtaining personal credit profile in considering this application and subsequently for the purposes of update, renewal or extension of such credit or additional credit and for reviewing or collecting the resulting account, (4) this information may be transmitted by us to you and by you to underwriter(s) for the purpose of granting me credit, either electronically or manually, and that by submitting this application, I take full responsibility for transmission thereof, (5) I am over 18 years of age, (6) I acknowledge my rights under the Fair Credit Reporting Act, (7) I consent to receive direct mail, faxes, text-messages, and e-mails sent by National Funding and its affiliates for the purposes of transmitting account updates, requests for information and notices, and (8) this request is for business and not for consumer purposes.

 

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