12 30 2015

New Years Resolutions for Small Businesses

12 30 2015

New Year’s Resolutions For Small Business Owners

As the end of the year comes barreling toward us with the new one on its heels, small business owners should consider drafting up a list of their New Year’s Business Resolutions for 2016, and including potential options like looking into obtaining a small business loan. With so many different distractions occupying small business owners’ day, it can be tough to find the time to sit back and ponder goals and resolutions for the New Year.

While there are many general resolutions business owners can set and follow, such as grow the business, invest wisely and network more, owners should be committed to these crucial tasks throughout every year – these are a fundamental part of running a small business. However, with these tasks in the back of an owner’s mind, it can also be wise to consider resolutions specifically for 2016. As the economic landscape constantly shifts and the business environment evolves, owners need to keep their enterprises flexible so they pivot and quickly respond to any changes. Simply setting goals of growing the business, investing wisely and networking more won’t be sufficient enough to truly address the more pressing issues weighing on companies in the new year.

Upgrade technology

Nothing can be more important than ensuring the company has up-to-date technology and a strong cybersecurity system in place. Having the latest and greatest technology can contribute to optimizing the company’s overall efficiency, whether by streamlining operations, reducing downtime, providing better access to customer data or coordinating communications – all of which can ultimately lead to a boost in profit margins.

While having the latest and greatest in technological upgrades bodes well for the company’s future, implementing a robust and powerful cybersecurity system protects the enterprise’s current operations. Currently, Forbes noted that cyberattacks cost U.S. businesses $400 to $500 billion a year, and that’s not including the large number of unreported hacks.

By protecting the current operations with a sound cybersecurity system, and by implementing the latest technology to meet the demands of tomorrow, business owners can position their companies to truly corner and capture their market share.

Go mobile

By now every small business – whether B2B or B2C – should have a website. These are vital for attracting new customers and retaining long-time ones. A company having a web page in this day and age is almost a no brainer, since if a customer or client cannot find a business online, chances are the individual will not put more thought into the company.

However, while every enterprise might already have a website, it’s going to be absolutely critical for businesses to ensure their websites are mobile ready. According to Statista, mobile phone Internet penetration in the U.S. reached 75.1 percent in 2015, and experts forecast this number to continue rising. Further, current B2C m-commerce sales in the U.S. are estimated to surpass $113.18 billion this year, with predictions of this sum nearing $170 billion in 2017.

As more consumers opt to use their mobile devices for browsing, shopping and reviewing, business owners need to ensure their companies have mobile-friendly websites sooner rather than later.

Learn about business loans

Often a business will make enough money to keep the doors open and the employees paid, but not enough to truly grow the company. Without the right kind of working capital injection, the owner will find the business spinning its wheels in a deep rut. This can make it difficult, if not downright impossible, to invest the capital necessary to truly grow the business, whether that involves purchasing new inventory or upgrading the company’s technology.

One of the best ways to overcome this hurdle and truly grow the business can be obtaining a small business loan. Unfortunately, many small business owners have some misconceptions about the benefits of a business loan or working capital loan. While dealing with traditional lenders like big banks or financial institutions might carry some of these misconceptions, working with an alternative lender is a different story.

For instance, an owner might think they need to have stellar credit if they have any chance of successfully obtaining a small business loan. However, owners with no credit, or even those with bad credit, can still potentially qualify for a working capital loan.

Another misconception stems from owners who might not want to go through the long, drawn-out process of compiling all the financial statements and profit and loss reports, filling out a complicated application and then waiting for an extended period of time before hearing any feedback or determinations from the lender. While this might be the case with traditional banks, online lenders make the application process as easy and quick as possible, with most providing 24-hour turnaround times for the loan.

In today’s rapidly fluctuating marketplace, business owners can’t stand around waiting on the possibility of receiving funding. They need to be able to make snap decisions and put new processes and systems into operation as soon as possible, and luckily alternative lenders provide the immediate turnaround business owners need to succeed.


Find Out How Much Funding You Qualify For

Fields marked with an * are required
By clicking this button I agree to all terms and conditions.

Terms & Conditions

General Acceptance

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.


US Patriot Act:

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.


For Loan/Merchant Services:

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.


For Equipment Services:

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.


Text Messaging:

By providing my wireless phone number to National Funding, Inc., I agree and acknowledge that National Funding, Inc. may send text and multimedia messages to my wireless phone number for any purpose. I agree that these text or multimedia messages may be regarding the products and/or services that I have previously purchased and products and/or services that National Funding, Inc. may market to me. I acknowledge that this consent may be removed at my request but that until such consent is revoked, I may receive text or multimedia messages from National Funding, Inc to my wireless phone number.

The Federal Equal Credit Opportunity Act prohibits creditors from discriminating against credit applicants on the basis of race, color, religion, national origin, sex, marital status or age (provided the applicant has the capacity to enter into the binding contract); because all or part of the applicant’s income derives from any public assistance program; or because the applicant has in good faith exercised any right under the Consumer Credit Protection Act. If for any reason your application for business credit is denied, you have the right to a written statement of the specific reasons for the denial. To obtain the statement, please write to National Funding Inc., 9820 Towne Centre Drive, San Diego, California 92121. Funding amount and credit approval is subject to a full credit profile review.