Starting a business is an exciting journey, but it can also be challenging, especially when it comes to raising funds for your business. A lack of capital can be a determining factor in the success or failure of your business. Therefore, it’s essential to understand your options and the best practices for raising business capital. […]
If you are a small business owner who has ever thought about growing your operations with a loan, one important financial metric you will need to be aware of is your Debt Service Coverage Ratio (DSCR). Calculating this ratio can sound intimidating, but it is a crucial step to understanding your financial health and your […]
Applying for a business loan can be a time-consuming and difficult process. You have to fill out all the paperwork, provide multiple documents, and go through the review process. So when you find out your application has been denied, it can be discouraging. But why might that happen? To give you an idea of what […]
Having a strong understanding of your business credit score (and how it works) is crucial to understanding your financing options. Your credit score not only reflects the financial health of your business, but it can also give you access to more favorable loan rates and other types of financing. However, if your credit score is […]
As startups turn to established companies, and established companies turn to mature organizations, there’s a good chance of finding yourself needing more cash than you have in the bank. But it can be hard to plan for when those moments happen so you can be ready. We’ve gathered a list of some critical moments across […]
A strategic mix of digital marketing strategies is important for any business looking to grow its customer base and increase brand awareness. Whether or not your business is based online or from a brick-and-mortar storefront, audiences today prefer to start their decision-making journeys online. Data from Salesforce shows that at least 87% of customers start their search […]
At Backabl, we believe efforts to support diversity and inclusion create environments where people thrive, local economies grow, and new ideas blossom. Whether it’s chasing growth or challenging adversity, we support LGBTQI+ individuals and businesses during Pride Month and beyond. Like many socially disadvantaged groups, LGBTQI+ entrepreneurs can face unique challenges in establishing and growing […]
Each year, the U.S. Small Business Administration (SBA) coordinates National Small Business Week (NSBW), a celebration of America’s millions of small business owners who provide the foundation for our strong and growing economy. Throughout the week, the SBA will host: Local events Awards ceremonies Virtual lessons Virtual workshops A national bus tour When is National Small […]
Each tax season, knowing how to maximize your tax deductions—and minimize your taxable income—is a great way to help your small business thrive. But waiting until tax season to comb through your receipts and categorize your expenses can be a huge headache. The best way to make tax season a breeze is to have great […]
Thanks to ongoing policy initiatives and growing entrepreneurial spirit, women-owned business are becoming a much bigger component of the US economy. According to a 2019 report by American Express, there are roughly 13 million women-owned businesses in the US, and they generate nearly $1.9 trillion in revenue. The rate at which women founders launched new businesses […]
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