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The Credit Crunch Myth: Financing Options to Consider

Over the past couple of years, the term “credit crunch” has taken its place in the popular vernacular alongside other now-common phrases like “mortgage meltdown” and “bank bailout.” But is the supposed credit crunch that we keep hearing so much about (go ahead and Google it-I did and got more than 12 million results!) real? While most of the media would have us believe it is, from my perspective, I’m not so sure. In general, community banks are in better financial condition than big banks, so these are often a good place for small businesses to start their search for financing. In addition to traditional bank loans, there are alternative forms of financing for companies that might not qualify for loans in today’s more stringent credit environment. One of these is factoring.

Small business success

Small business success is all about taking the right action and following some simple steps to increase your business profits! Small businesses are the backbone to most world economies and anyone that has run or is running a business will know that it is not always easy and when presented with additional challenges, such as a credit crunch, business owners need some help. Often times people think that the only way to increase profits is to either increase prices or to get new clients, whereas this is just not the truth. Another aspect of your business to consider is its "USP" or "Unique Selling Proposition" and it is not always to a good thing to have this as "your prices are cheaper" or put another way that you are offer the best prices compared to the competition.

Small business profits – threat or opportunity

Turn-on your television or pick up a newspaper and all that is reported right now, apart from the present swine flu problem, is the "credit crunch" - falling house prices, rising unemployment, businesses going bust, repossessions, bankruptcies and more... So what should small businesses do? Well this depends on whether you see this as an opportunity or a threat. There are no doubt certain businesses that will find these times more difficult than others, for example, only today there are reports about how the number of unemployed lorry drivers has gone up almost 5-fold since this time last year. Where businesses are selling less and therefore resulting in a less of a need for transport, then transport companies will see a dip in demand and as a consequence might need to make redundancies.

10 ways to save money in your business

10 ways to save money in your business and make your business a lean mean fighting machine! In an economic slow-down it is time to cut costs! When things are going well and saving money is not at the top of the agenda we can all let things slip and not pay close attention to cut costs. With the credit crunch still biting the majority of businesses still I though it would be good to help focus on where money can be saved. 1. Bank charges If you have been with your bank for a number of years and many people tend to be very loyal to their banks, for some reason. Always remember this, if times get tough, the bank will be the first one to kick you out on the street, as their decision is based purely on a commercial basis without emotion.

Are there any businesses that are recession-proof?

There are probably many businesses that are recession-proof, but things might be different in the present down-turn as things might get tougher with falling property prices, rising unemployment and so on. If you are looking for a business that is recession-proof try typing the term "recession-proof business" in the upper left box and then choose from the hits there. This search will turn up sites giving you their wisdom on top tips to survive a recession along with other blogs and websites telling you which businesses are most likely to survive during a recession. I will leave it to you to decide on which of these writers know their stuff. However, if you hit on something that looks like the type of business you would like to buy or even set up yourself, then do a bit more research on that type of business.

Times are tough with the credit crunch!

As times are tough both for householders and businesses alike this is when it is important to make sure your business is operating to the optimum. Also, you may be having cash flow difficulties and be looking to raise some cash from the bank. Now, I thought that it would be difficult to get a loan, however, I recently saw my bank manager (who is from Barclays as it happens) for one of my businesses and he said that they are encouraging lending to businesses. His comment was that Barclays had been a bit tight with their lending over recent years so they are looking to expand their lending book. So if you are doing some cash flows and things are not looking so good and you have been listening to the news out there - things might not be as bad as they seem on the face of it.

Accounts Receivable Collections: How to Get Late-Paying Customers To Pay On Time

It's great when accounts receivable collections roll in on time, but when they slow down, you still need to replace goods you've sold, pay your employees (on time), and pay the rent and all the other expenses of running a business. Most bad debt write-offs come from old accounts receivable, not current ones-the older the balance, the less chance it will be collected. So your best bet is to encourage your customers to pay accounts receivable on time. "That's helpful," you're probably thinking, "but how do I do that, exactly?" Here are five ideas that may help you improve accounts receivable collections.

Be your own boss
Are you unhappy in your current job? Do you long to start your own business and become your own boss? If so here is some advice on how to take the first steps to achieve your dream.

Asset-Based Lenders: Serving a True Need in Today’s Marketplace
Most business owners will tell you that it’s still pretty rough-going out there when it comes to obtaining commercial financing. This is true despite improvements in the economy and efforts by the federal government to jump-start business lending among community banks. In such a tight credit environment, the importance of the role played by asset-based lenders has increased exponentially.

Orchard Growth alerts growth businesses to predicted change in R&D tax credit allowance, following tightening up at HMRC

Orchard Growth, providers of flexible finance directors to growth companies, has warned companies in its care to ensure that they are prepared for a predicted change to the tax relief allowance provided for research and development. As many of the growth companies served by Orchard Growth’s part-time FDs are involved in technology, any change to the R&D tax relief boundaries could have a significant impact.

Why It’s Time to Bring Factoring Into Your Financing Equation
In your search for commercial financing in the midst of the ongoing credit crunch, here’s something to factor into your consideration: It may be time to look at factoring in a whole new light. Factoring can make the difference between success or failure for companies operating without adequate working capital-at a cost that’s probably a lot less than most business owners think.

Special Alert! Announcing Special New Sales Closing Incentive To Make Black Friday Sales, Every Day Sales
After reading this short article, you will feel confident that you are armed with two of the most powerful closing tools in the business world today.

Deciphering Matters on Recession and the Self-Publishing Industry
An in-depth analysis on the present economic condition and the flourishing self-publishing industry.

Kiosks Offer Advantages in Owning a Franchise
Kiosk franchises can offer a great low-cost way to launch a business and in fact, many owners will leap in with multiple locations. With a low start-up cost and low overhead, kiosks have terrific margins. Add in that the location practically forces a customer to interact and you have a winning business combination.

How Much Can Your Staff Handle?...The Limiting Factor Behind Sustainable Productivity Gains

Most companies are now trying to boost flagging profits with a smaller workforce. What that means is that each member of your staff will be required to work with greater speed , efficiency and productivity than ever before. But what if your remaining staff can't physically, mentally or emotionally handle this increased workload? What will it cost your company in terms of absenteeism, workers compensation and skyrocketing health premiums if your company just wears out your employees to the point of illness, injury or burn out? What can you do to prevent employee burnout?

Business Leadership 3.0
A few years ago I was discussing business leadership with an experienced business consultant and psychologist. He suggested that the next evolution of business leader would come from an HR background.

CONNECTING IS NOT ENOUGH: The Networking Journeyâ€¦â€¦How networking has changed and where it is heading

May saw me celebrate a ten-year anniversary. On 11th May 1999 I started work for Business Referral Exchange, then a new networking organisation founded six months previously and with just four groups running in London, Hertfordshire and Essex. At the time networking as a formal activity was little known in the UK, with a few independent groups supplementing the networking offered by Chambers of Commerce and community groups such as Rotary. How times have changed! Networking is now a key activity for millions of small business owners across the World and, with the rise of social online networks, is being recognised as a key skill for everyone, from jobseekers to global corporates.

The Entrepreneur finds Strength in Apparent Defeat
In the seeming pain of powerlessness, strength can be found in times of apparent defeat, a victory can be won. In pain and suffering, we can find endurance and steadfastness. When things seem hopeless, there is always chance for optimism and the seemingly impossible can be made possible.

A Positive approach to the Credit Crunch

Another month and yet again my latest article looks at dealing with the credit crunch. As I have engaged with Managing Directors over the past few weeks I have encountered a range of attitudes to the market. So what attitude should you take? Well as you will see when you read this article I do not recommend being either Optimistic or Pessimistic but Positive. In fact I mention 4 attributes - 3 P’s and a Q.

Green Shoots?
The last 18 months has been about the most pivotal for our collective future since 1945.

4 Steps to Guarantee Business Survival
Could a proven Success Framework be all that's needed for your survival in today's economic conditions?

More Common Missed Deductions
VETERAN FINANCIAL PLANNER GIVES YOU MORE COMMON MISSED TAX DEDUCTIONS.

Want growth? Now is the time for an Acquitision

What everyone knows is that money can be made in the stock market whether it is going up or down. The questions is, as a business owner, how do you grow when the economy is on its way South (sound familiar?). The last time the market has been so ideally primed for growth through acquisition was in the early 70's. It probably won't be this good again for another 20 or 30 years. In this article, I talk about how this works.

As the Banks are tightening lending, Seller financing may be a great option to finance a business acquisition.

Since the start of the financial crisis last year, banks have stopped extending credit for virtually any loans including SBA type loans. It is very difficult for business buyers to get approved for financing, even buyers who have excellent credit, money down and collateral, which are the three major requirements. Of course this environment won’t last, but in the mean time there is a solution for both buyers and sellers and that is Seller Financing.

Unemployment and franchising
Nick Strong investigates how the franchise community is managing to deal with an economy that is forcing unemployment and reducing access to business development liquidity.

Deep Blue Sea
Be wary of scammers offering bogus loans to desperate small business owners.

I Love Business
How can we innovate so that our businesses return great profits AND contribute to our society at the same time?

Credibility Crunch
Recovery from THE Credibility Crisis IN BANKING

Protecting Your Small Business in Today's Economy
As a small business owner, keeping your business prospering in today's economy is probably one of your biggest concerns. With a business cash advance, you can get funds to maintain and/or promote business growth.

Have You Tried Being A Customer Of Your Business Lately?

This may sound odd - but have you looked at how you treat your customers recently? I was discussing this earlier today with a client whose business has stagnated after he moved into a new office last year and we were looking at possible reasons why that would be. We looked at the products he was offering, how he was conducting his marketing, what factors locally had changed, was the "credit crunch" likely to be an influence, and so on..

Why we are not entering a recession!!

I found it quite a struggle to decide which topic to write about in this week’s article as there are a couple of things that have really made my blood boil, but I decided in the end to write about this so-called ‘recession’ that the media would have us believe is just around the corner. One of the reasons I wanted to write about this subject is because I’ve had quite a few emails asking why I haven’t written an article on the current economic climate, so I thought I’d address it this week.

What Working Women Want Mo$t
A new survey of some 12,000 working women found that above all else--flexible schedules, more affordable health and child care, etc.--working women most want a (freakin') raise. And some jerk named Dan has a brilliant idea as to how they can get one.

Crunchless Credit
Think borrowing money from family and friends is risky business? Virgin Money acts as a middleman to ensure the safest transactions.

What does 2008 have in store for small businesses?
What does 2008 have in store for small businesses? Helen Dowling from Exceptional Thinking has a look at this topical issue.

II. STOCK MARKET AND ECONOMIC GROWTH: THEORETICAL AND ANALYTICAL ISSUES
In principle, the stock market is expected to accelerate economic growth by providing a boost to domestic savings and increasing the quantity and the quality of investment (Singh, 1997).

Current Trends in Working Capital Management

Three years ago, as the depth of the financial crisis was just beginning to be felt, banks started tightening the reins on credit, resulting in a severe credit crunch. In this environment, cash conservation became the name of the game. But today, U.S. businesses are flush with cash, and the emphasis on wringing every dollar out of working capital has dissipated. But do improved corporate balance sheets, a brighter business lending picture and an improving economy mean that CFOs should adopt a new mindset when it comes to working capital management? Not necessarily.

"Any Dream Will Do"
Who'd have thought that one of the most inspiring role models to get us through this credit crunch year of 2009 would be a figure who lived 4000 years ago? Find out who and why here.

How the Banking Credit Card Fiasco Affects YOUR Business
Find out how a little bit of entrepreneurial creativity and innovation can help your clients and your business in the midst of a credit crunch. Implementing the following five strategies will make your business the clear option for clients and customers in this credit-strapped economy.

Idea Versus Execution
An article that addresses the common issues of "idea versus execution" and getting the credit you deserve. This article is partially a response to the Tech Crunch article, "If Execution is What Matters, Where Does That Leave Ideas?"

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