Whether you are a seasoned business owner or a first-time entrepreneur, it’s never too early to consider approaches to building long-term wealth through your small business. Although there are many tactics to achieving financial security and building wealth, here are some key strategies for small business owners to consider.
Small businesses are looking for ways to stay competitive in the new digital economy, especially as they continue to face challenges exacerbated by the COVID-19 pandemic.
Small business owners know that one of the greatest barriers to success is a lack of access to capital. For Black business owners, this challenge is heightened, with large banks approving just 29% of loans sought by Black-owned small businesses compared to 60% of loans sought by white-owned small businesses. This is why it is critical that Black-owned small businesses are supported in order to build an equitable economy. In honor of Black History Month, we have compiled a list of funding and business assistance opportunities geared toward Black entrepreneurs.
Small businesses are undergoing a major shift in the business landscape, which is prompting them to reassess their future. Getting ready for retirement involves thorough planning, assessing available retirement options, and taking ownership of your finances. A recently passed law, known as Secure 2.0, is providing a number of changes that could help strengthen the retirement system for small businesses and their employees in the United States.
Here are the major changes that small business owners and their employees can expect from Secure 2.0.
Tight profit margins and recent workforce shortages have made it a struggle for childcare providers to keep their doors open. This is why access to funding is critical to help childcare providers in Colorado start, maintain and grow their businesses. We have compiled a list of grant opportunities and incentives available to childcare providers in Colorado.
The annual open enrollment period begins on November 1, 2022 and ends on January 15, 2023 for small business owners and self-employed individuals who access health insurance through the Affordable Care Act (ACA) marketplace. Entrepreneurs can make changes to their healthcare plans, re-enroll or renew their plans. Below you will find 5 things you should do and 5 things you shouldn’t do during open enrollment.
So you’ve heard about the Inflation Reduction Act (IRA), but what exactly does it mean for your small business? The answer may surprise you. Below you will find an overview of the provisions and investments in the IRA.
Latino and Hispanic entrepreneurs are starting small businesses at a faster rate than other groups, accounting for 44% of growth rate in the past decade. However, disparities in access to capital remain, particularly how Latino-owned businesses have been able to raise capital during the pandemic. This is why access to grant funding is critical to help them start, maintain, and grow their businesses. We have compiled a list of grant opportunities available to Latino and Hispanic businesses in celebration of National Hispanic Heritage Month, which spans from September 15 to October 15.
The federal government spends roughly $600 billion in consumer goods and services, making it one of the largest buyers in the country.
For small business owners who may be considering the next stages of their lives, succession planning is a key step in standing down from your small business and/or transferring ownership of your business. While the process may be complex, determining ways to transfer ownership of a business can be rewarding, provide peace of mind and is key in planning for the future. Among those options, small business owners can choose to sell their business to family members or outside parties, sell their shares to a co-owner (if applicable), or extend employee ownership.
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