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TwitterWriten by Harlan FriedmanRecently a prospective client visited our office and was inquiring about the financing of an upcoming business acquisition. I immediately inquired whether the business opportunity that he was contemplating also came with real estate or was it only the purchase of a business opportunity consisting of good will, Furniture Fixtures and Equipment (FFE), work in progress. and, the client/customer list.He immediately responded that it was only a business acquisition along with two five year lease options.As a commercial financial broker I immediately realized the scene was set for a typical SBA 7A loan.
Archive for January, 2009
Financing The Acquisition Or Expansion Of A Small Business Through The Sba 7a Program
January 31st, 2009 
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Recession Proof Your Business – How to Avoid Business Failure & Increase Sales in a Lagging Economy
January 30th, 2009 admin When you’re a small business owner there’s no “Golden Parachute”, no Massive Severance Package or Stock Options to cash in on and there are definitely no bailouts. The success or failure of your small business is all on your shoulders! Here Are 5 Things to Do If You WANT Your Business to Fail During a Recession ….Read the rest of this article HERE
Will the House-Passed Stimulus Help Small Business?
January 30th, 2009 admin The big rush is underway to push through the “economic stimulus” package. The U.S. House advanced their version of the bill yesterday, and without one Republican vote. Just about every single politician supporting the bill can’t say for sure whether it will help the economy or not. If that is the case, then why are they risking nearly $900 billion ($1.5 trillion with interest) of our tax dollars on a massive spending measure that may not work?For small business owners, the tax items in the House bill are generally worthless.
Tax Time Tips for Local Busineses, and Where to Get Help
January 30th, 2009 admin From MSNBC MarketWire comes this compilation of Small Business Tax Tips as recommended by the National Association for the Self-Employed (NASE). If you are a North Florida Business and seek help with your taxes, you can find an accountant on our Small Business Resource Network (SBRN) website. These are small business specialists who will understand your business better than most large accounting agencies. WASHINGTON, DC – Whether gathering documents and forms, studying receipts or working through math calculations, entrepreneurs are getting ready for April 15th one step at a time.
Financing Your Business On A Shoestring
January 30th, 2009 admin Writen by Brenda W HargrovesStarting a business does not always require a large initial financial investment. Careful and creative management of currently available funds can go a long way towards providing needed capital. A disciplined person possesses the potential to become a financially successful entrepreneur. The key to financing your business with little initial cash outlay is to become your own banker.Realistically, you should have some amount set aside for start-up expenses.
More on the Economics of Hiking Tobacco Taxes
January 29th, 2009 admin The U.S. House of Representatives approved an increase in the federal tobacco tax on January 14 by a 289-139 as part of a bill to expand the State Children’s Health Insurance Program.While jacking up tobacco taxes to fund a health care program might sound like a good idea to some, there are many costs involved. For example, increased government involvement in health care inevitably leads to higher health care costs.Plus, there are economic costs to increasing taxes.Some of those costs were laid in an article by Scott Ramminger, president of the American Wholesale Marketers Association, in the January 19 Buffalo News.Ramminger noted:If Congress approves a bill to expand the State Children’s Health Insurance Program (SCHIP) by significantly increasing federal cigarette and tobacco taxes, the result will be major sales reductions, massive layoffs, numerous store closings and many more robberies because of the much higher value of tobacco products…The economic impact on the entire tobacco industry will be disastrous.First, a 156 percent tax rate increase on cigarettes compounded by tax rate increases of up to 6,000 percent on large cigars, 2,197 percent on little cigars, 710 percent on roll-your-own tobacco, 156 percent on smokeless tobacco and 156 percent on pipe tobacco will lead to declines of 10 percent or more in retail sales of tobacco.
CHECKLIST FOR YOUR LAUNCH
January 29th, 2009 admin For the thousands of Americans who are receiving pink slips each week, there may be no alternative but to start a small business. This is the way to turn a crisis into an opportunity. Follow your passion. Figure out a business that will permit you to pursue it. (Get started with our free fill-in-the-blank workbook–see box in right column of this blog.)After you’ve zeroed in on the biz you want to start, have determined there is a real need for your product/service right now, and have organized a marketing plan, follow this quick checklist for your small business launch:_Pick a name for your business._Select your company’s legal structure (sole proprietorship is most common)_Visit legal self-help sites like nolo.com for more information on incorporating if you choose to go that route._Visit your county clerk’s office to file a DBA (doing business as) form.(this will permit you to open a business checking account in your biz name)._While at the country clerk’s office get info to apply for a business license._Apply for a seller’s permit._Apply for a Federal Tax ID (EIN)(this will permit you to buy goods from wholesalers, too, and not pay taxes on the items)._Determine if you need additional home and/or business liability insurance; talk with your agent._Open a business checking account._Visit irs.gov to investigate tax matters._Figure out what you’ll do for health insurance, before you leave your current job, or COBRA insurance._Set up a home page website or get a free blog with blogger.com to demonstrate your web presence._Stay positive.
Are You Using A Chess Or Checkers Small Business Marketing Strategy
January 29th, 2009 admin Writen by Jeremy CohenUntil the day I learned to play chess I loved playing checkers. Both games require a strategy that maximizes a player’s ability to capture her opponents pieces without first losing her own. Checkers was fun. But the complexities of chess lead to more satisfying victories and defeats.Chess is a more complicated game than checkers as there are more variables. Therefore, much more thought and concentration is required to win a game of chess than is required to win a game of checkers.Like chess, marketing your business is a complicated endeavor.
