Tweak Your Biz » Finance

After helping small biz owners for more than 22 years, Intuit is teaming up with Jimmy Johnson to give small businesses the chance to play among the MVPs and win their very own 30-second television advertisement that will air during the Big Game on February 2. Small business owners can visit the Small Business Big Game website to sign-up for the competition. Just for entering, participants will receive the Intuit Small Business Playbook, a guide on hot topics for small businesses, and an…

Ireland’s 12.5% corporate tax regime has been under the microscope of late with a lot of media comment, much of it unfavourable, emanating from the US in particular. I thought it would be worthwhile to try to cut through the hysteria and hype in this post, by reverting to the facts and calm commentary, while emphasising exactly why Ireland continues to be a great location to establish a business. Ireland is an island on the periphery of Europe that punches far above its weight in the…

Funding a business from the start can of course be a costly affair, but the truth of the matter is that it does not have to be as complicated as you may have initially feared. Instead, with the correct strategy and advice, you should be able to unearth more than enough money to allow you to start your business without endangering the potential future success of your company. The 35% Rule When it comes to funding there is one major golden rule that must be obeyed. Never borrow more than…

In our last two blogs, we discussed how to approach banks with a request for financing and how to decide which banks you would approach. In this blog we discuss the criteria used by banks in deciding to grant credit. Traditionally, the granting of credit was based on the three Cs; Character, Capital and Capacity. While many things have changed in our economy over the last fifty years, the three Cs are basically the same and control the granting of credit in the 21st century. The difference is…

The following post is sponsored by Intuit.   CPAs know how inefficient it can be for themselves and their clients when they have to request data files from the past. In this video, Bryce Forney is a CPA who has successfully used Intuit’s cloud-based QuickBooks Online Accountant to help him meet his customers’ needs year-round. All the data he needs is always at his fingertips in the cloud, so he never has to inconvenience his clients for information when answering a tax-related…

Interest rates are low, demand is mediocre and commercial banks seem inclined to lend once more.  If you believe your business could benefit from a loan, now may be the time as these favorable factors converge. Commercial Lending Trends Banks are no less competitive than other industries. Therefore, choosing a commercial loan requires no less effort than you would exert in shopping for a new car. If your business is successful, with a proven track record of profitability, banks will compete…

Asking your family for a financial investment for your business is pretty tricky business. Nobody likes asking for money, but if the reasoning behind the monetary request is sound, a small investment from family members could be well worth it.  On the other hand, seeking investments from your next of kin could get you in hot water with loved ones if your business is already fledgling or your business idea isn’t fully imagined. With this in mind, here are a few pros and cons of acquiring…

Last month we talked about increasing your chances in obtaining bank financing. One of the points that got the most comments was that companies do not seem to shop around but tend to go to only one bank. Even though companies would never proceed this way with other service providers, this seems to be a practice that is based on the false assumption that all banks are the same and have the same standards and objectives. That is a very false assumption. Internal and market factors Each bank has…

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…

“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…