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2013 is deemed to be the year of women entrepreneurs. According to a recent survey, 81% of women business owners are positive about the performance of their ventures in the current year. Surprisingly, the businesses owned by women entrepreneurs are considered to be one of the fastest growing. These women run ventures have increased about 60% since 1997. With the advent of internet and home based entrepreneurship, numerous avenues that did not previously exist have been opened for the aspiring…

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“Pretexting” is basically an elaborate lie concocted to make a person give up his/her valuable financial information. Wikipedia defines it as: “the act of creating and using an invented scenario (the pretext) to engage a targeted victim in a manner that increases the chance the victim will divulge information or perform actions that would be unlikely in ordinary circumstances.” ZDNet, on the other hand, defines pretexting as “misrepresenting your identity to gain…

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The most recent report from the Federal Reserve suggests that commercial banks in the U.S. are starting to lend to businesses again. In the first quarter of this year, lending to businesses increased 3.2%. Lending by large banks increased 3.5%, while small banks increased their business lending by a smaller 2.3%. Borrowing from a bank is generally much cheaper than borrowing from other sources such as asset based lenders and factors. Whether your company is attempting to establish bank credit…

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For any small business owner, ensuring the proper acquisition and set up of the key types of disability insurance is an important part of protecting both themselves and their business. For most small business operations, disability insurance is more than the protection of income loss that can occur after a debilitating injury or serious sickness to the business owner or any business partners. In most cases, a small business owner needs to consider these aspects of insurance policies for…

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The health of a business is interlinked with personal finances. Normally, when personal finances look good, the state of one’s business too remains healthy. Similarly, when personal finances fall then it becomes tough for an organization to pull on. So, there can be no doubt that in order to keep a business healthy, the state of one’s personal finance should be sound if not awesome. There are some methods to achieve this very end. Save a part of your income A good technique to maintain…

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After putting all your effort into your business, it is heartbreaking to see a business going bankrupt. Many company owners and directors try their hardest to stop themselves going insolvent but some fail. The problem is dealing with going bankrupt, finding the best solution and acting within the law. Find Insolvency Professionals to Help One of the best things any business owner can do is find insolvency practitioners to help with the process. The professionals can offer advice on the best…

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Are you putting your retirement, your peace of mind and most of your net worth at risk by failing to develop an exit plan for your business? Sadly, if this describes you, you’re not alone. Surveys by the Exit Planning Institute indicate that North American business owners planning to retire over the next 10 years will generate over $10 trillion in personal liquidity (VIP Forum 2005)… if they successfully find buyers for their thriving businesses. Developing an exit plan is essential if you…

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Maintaining a healthy financial life can be quite challenging for the young and old alike. However, based on a study published in the January 2013 issue of the journal Economic Inquiry, younger people are not only taking on comparatively more credit card debt than their elders, but they are also paying it off at a slower pace. The study shows that the younger generation’s payoff rate of their debt is approximately “24 percentage points lower than their parents’” and roughly 77…

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It is widely known that individuals are the ones who are in charge of whether they want to have life insurance or not, but it is not a usual practice to incorporate this on a business level – i.e. on an employer and employee level.  But while this is a good and optional idea, why should someone actually need life insurance for the people working in the business? Business partners and life insurance Not all businesses are a one-man deal.  For the most part, it involves partners or a…

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Self-employed individuals have flourished throughout the recession in the UK, with around 40% of all being created by freelancers and contractors. The number of freelancers has also increased by 9% since the beginning of the recession, and it’s thought that employers are choosing to go down the outsourcing route thanks to the savings that can be made. However, even freelancers that have a constant stream of clients coming through the door may need to up their rates at some point. This could…

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