POST CATEGORY : Economy & Environment

3 Alternatives to Bankruptcy for Small Businesses

Small businesses go bankrupt. The Small Business Administration states that 50% of businesses survive past the five-year mark. This means half of the entrepreneurs that follow their dreams and start their own businesses will see their dreams go up in flames.

Bankruptcy

Business is a risk, and one late shipment or one lost contract can mean the difference between a business thriving or boarding up their windows.

There are options outside of bankruptcy that can stop a business from dissolving.

1. Direct Negotiating Outside of Court

Lenders will negotiate with a business outside of court. When negotiations take place away from the stringent requirements of the court, there are a plethora of benefits, such as:

  • Avoiding court proceedings, which allows a business to save money
  • Direct negotiations take far less time to complete
  • A plan to get back on a financial track will be drafted, and will work for all involved parties.
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The Importance of Measuring Your Average Customer Lifetime Value

Customer retention has the greatest effect on the amount of revenue a company receives. This means that the most pressing challenge for any subscription-based business is keeping their customers subscribed to their services. If you’re running an enterprise that follows the subscription business model, you should be aware of the best practices for keeping your customers.

Customer retention

There are several metrics that can be used for measuring customer retention. For a subscription-based business, the average customer lifetime value or ACLV is one of the most important metrics. What constitutes this metric, and how exactly is it calculated?

The ACLV

The average customer lifetime value is the average amount of revenue a company can get from each customer.…

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Protect Your Business from Slip and Fall Accidents in 3 Easy Steps

Small businesses can be the subject of costly personal injury lawsuits. You’ll want to obtain liability insurance immediately if you have a small business where customers come to a physical location. Premises liability is a doctrine that all business unders are subject to.

The doctrine finds that a business owner can be held liable in a slip and fall accident on the business’s premises.

Slip and fall warning

Business owners have a “duty of care” to make sure the property is safe for employees and customers. You must do everything within reason to make the property safe. Negligence on part of the owner must be shown.…

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Does Business Location Still Matter?

Today, location plays less of a role in the success of a business than it used to. New technology offers flexibility that can give businesses a better degree of competitiveness and facilitate collaboration on a global scale. That’s great news for startups and small businesses who are increasingly being priced out of prime London city-centre locations.

London City offices

But while office location no longer matters so much to your workforce, it does to your clients. Though customers can be reached any time of day via email, text, video and voice, where you locate your business still matters considerably, and can determine whether you succeed or fail.…

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How to Prevent Work Accidents and Compensation Claims as an Employer

Injuries in the workplace can be life changing or fatal, which is why it’s so important they are avoided at all costs. But as well as the risk to life, work accidents are a costly business, with the ability to put a company in financial trouble should a worker claim that poor health and safety practices were to blame for their accident. Therefore, it’s important you are prepared for such an occasion and can handle everything your workplace throws at you and your workforce.

Workplace accident

Here’s what you need to do to protect your business and your workforce from workplace accidents:

The correct training, regularly

It’s so important your staff are regularly updated when it comes to processes and working with special equipment while on the job.…

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How To Shop When you are Trying to Go Green

You and everyone in your company have just made the decision to go green (it’s a new company policy, by the way!) Congratulations to you on making that decision, the environment thanks you deeply for your commitment to be more green friendly.

Online shopping

According to an article by Real Simple going green does not have to be miserable and painful. However, while some of the eco-friendly changes might not bother you must such as switching out the office cleaners that you currently use, others might be down right scary such as limiting your driving – i.e. from home to work or from office to client meeting locations.…

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3 Financial Tools To Help You Get Your Start Up Off The Ground

Do you have an idea for a business? Reckon your product or service could fill a gap in the market? Always dreamed of being your own boss?

If you’ve answered yes to these three questions, then congratulations – you clearly have an entrepreneurial spirit! Now comes the hard part. More than half a million businesses launch across the country every month and you need all the help you can get if you’re going to stand out from the crowd and succeed – regardless of how good your idea is.

Business planning

The biggest thing to be aware of is money. If you don’t stay in control of this, then you’re never going to get anywhere.…

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Gardens: The Unsung Hero in Real Estate Valuations

Gardens, and landscaping in general, are often the most overlooked elements when it comes to adding value to a home.

How much value your gardening and landscaping choices can add is highly subjective to the market the property’s located in, but it’s worth noting that over ninety-percent of buyers rank garden design as something that definitely increases value, whereas the color of the paint inside the home is often of little concern by comparison.

Deck garden

The reality, when faced with insight from experts in the field like realtors and home-staging professionals, is that adding a garden will not only add to the overall value of the home, it can make the home sell much faster, too.…

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Down with Downtime: Best Practices for Proper IT Asset Tracking and Management

Effective asset tracking is crucial to building a more profitable organization. Investing in asset management software is a good first step, but there are also several strategies you can implement that will ensure a smooth implementation of your asset tracking system.

Asset tracking

From organizing your existing inventory to streamlining warehouse processes, the tips below will help you get the most value from your asset management solution.

Use an Automated Inventory Solution

Automated solutions for inventory management offer several advantages over manual systems, from shorter fulfillment cycles to reduced helpdesk operating costs. Switching from a manual process to an automated one also boosts employee productivity and allows you to track vendor data so you can take advantage of savings.…

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Create the Marketplace – Own the Marketplace

People want something unique and different, so don’t compete—create your own.

In a nutshell that’s the motto CEO and business founder Jeff Pedersen lives by, and what enabled him to start, and continue running, his successful business, Cariloha.

Jeff Pedersen, CEO/Founder Cariloha

Many of today’s current marketplaces are saturated. So if you don’t have the time and/or money to compete with well-known and well-funded brands, find a niche where you can create your own marketplace.

Pedersen recalls first starting his company in 2007 where they produced and sold island-leisure products. Unfortunately, sales were not anywhere close to what he and his executive team had projected they’d be at after opening their first three stores.…

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