I was reading an article in Fortune Small Business about companies dealing with this recession.  Did you know that anyone you have terms with, Net 30 or Net 90, may give you a discount for payment at time of order.  This is HUGE for you as a business owner.  Think about it.  You have credit with this company already, because you have terms.  But now they will give you a discount just for paying at the time of order.   Imagine when it comes time to report on your business to Dun & Bradstreet, you can bet they will make sure you they rate you very favorably.  

Another way to leverage your business credit it to take advantage of opportunities that may be costly up front but will end up saving you money, such as business equipment.  If you can save money on energy efficient equipment, or save money on trash removal because you buy a trash bailer, wouldn’t you take that opportunity.  But the only way you can do this is to use your business credit.  If you don’t have business credit, or even if you do, you should check out the Insiders Guide To Business Credit.  They walk everyone, from the new business owner all the way to the veteran through the steps to get business credit for…

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With the times changing as quickly as they are, businesses are being asked to shoulder more of the burden of new expenses, like unemployment increases, health insurance, and all the while customers are becoming more and more hesitant to spend money, because they are worried about loosing their job, taking a pay cut, etc.  So where does that put you?

It really puts you in a predicament with only 2 ways out.  One, you can just continue to keep your business afloat, doing the minimum in areas of advertising and staffing.  Maybe you have to work 6-7 days a week because you cut an employee, maybe you don’t run that ad in the paper because you can’t really afford it.  

Option 2, which is the option smart companies are choosing, is to take advantage of the situation that EVERY business is in, and use it to your advantage.  Because you know that everyone is hurting why not do something different then the competition.  Use your business credit lines and loans from the bank to work on marketing to new customers.  Make the customers you have remember why they chose you in the first place by treating them like they are VIP’s because they really are.  A little goes a long way, especially when everyone else has stopped spending, your few dollar investment in a customer loyalty program, can go even further NOW.  

So how do you get a large credit line or a loan from the bank … with the help of your business credit.  Using guides like the Insiders Guide To Business Credit can help any business hone their business credit file so that they can get a bank loan or large credit card, without the need of using the owners credit file for approval.  Imagine using that business you have built as the leverage in every financial transaction you make.  It can happen if you start today.  

Visit http://InsidersGuideToBusinessCredit.com to find out more and to get a free copy of their small business credit guide.

If there was any indication that we are in a new economy, all you had to do was turn on last nights superbowl.  From the limited about of commercial interruption, it was pretty plain to everyone that the money is just not there…..for MOST companies.  That does not mean all, just most.  Because we are in a new economy there were fewer brand building commercials and more commercials that made you sit back and remember what they were selling.  Like the careerbuilder.com commercial where the guy kept slapping the Koala.  Very interesting.  But back to the point.  These companies are leveraging a time where people are cutting back on advertising and customer building and using it to their advantage.  Shouldn’t you…I am talking about using capital, both cash and credit, to start to get the word out about your company.  This could be done in many ways, and in fact that is not as important as just doing it.  I know it will cost money, but remember, EVERYONE else is trying to save money, so every dollar you spend today is actually probably worth $2.  

So now you ask how…how exactly do you get the money to spend now so you can see returns from your customers, both current and future.  You invest in systems that help you create credit for your business.  You visit sites like http://InsidersGuideToBusinessCredit.com .  They can help get you on track so that you can have the money you need to do the marketing you must do.

This is a golden opportunity to get your business to the front of the pack at discount prices

An important question it is never too early to think about…Now that the year end is closing in on you, how are you going to pay for your taxes? A study of businesses shows that most are worried they wont have the funds on hand to pay the bill, will this be you?

I know from personal experience that when you start a business it can be difficult to keep cash on hand, as startup expenses can be overwhelming, but now even businesses that have been around for over 3 years are starting to worry about cash on hand to pay for tax liabilities, thanks to the slowdown in the economy.

So what are companies doing to survive this financial crisis? Smart businesses are using their business credit. As a business owner it is vital to have access to this credit in the form of credit cards, bank loans, or even a bank line of credit. I know it can be intimidating to think about approaching a bank for a line of credit or even a loan, but once you have the proper credit in place for your business they will do most of the work for you.

Thousands of businesses get started on the path to obtain business credit each day, and they don’t have to worry where the money if going to come from, will this be you?

If you are like me, you are watching the financial crisis and wondering what is going to happen next, and how your business is going to survive. Just think about what has happened recently.

The failure of major banks, the fire sale of WaMu, and now Wachovia is looking for someone to purchase them. The times are financially scary, and it will only put a further strain on your personal finances if you have to pay for your business with your families credit cards.

The time to take action is now, you need to separate your personal credit from your business credit. Imagine if you needed $10,000 to keep your business running during this crisis, but all you had was your personal credit line to support it. You can take one step in the right direction and get separate business credit for your company.

Once you are creating your business credit with my help you will wonder what took you so long to start this in the first place.

If you’re thinking about getting a business credit card, you may not be sure whether you should get a card, and whether it will benefit your business. While people who have trouble managing their money and controlling their spending should probably not have control of a business credit account, there are several advantages to having a business credit card.

1. Build Your Business Credit Profile

If you intend to lease equipment or finance big-ticket items with a line of credit from a vendor, you will need to create and maintain a business credit profile. By using a business credit card wisely, you can establish business credit, and you can work on building your credit over time.

2. Manage Business Expenses

Many business credit cards offer very detailed statements that make it easy to itemize your business expenses at tax time. Whether you do your own business taxes or pay a bookkeeper or accountant, the time savings will give you more resources to spend on other parts of your business.

3. Separate Business and Personal Spending

If you are a sole proprietor or an incorporated one-person shop, you may sometimes buy business items on your regular shopping trips. With a business credit card, you can pay for business purchases separately and keep your spending separate. This is particularly important if you have a corporation and need to protect the corporate purse. Separating purchases can be very difficult otherwise, but with your business credit card it becomes quite simple.

4. Survive Low-Cash-Flow Situations

Every business goes through peaks and troughs as far as income and cash flow. Unfortunately, quite often during the troughs you find that you need operating capital to get back onto a peak. This can be difficult, but having a business credit card can keep you up and running during low cash flow situations and help you weather slow times.

5. Cut Down on Reimbursement Paperwork

If you have employees, or if you were often spending money and having the business reimburse you, a business credit card removes the need for that. You can simply use a business credit card, and have your employees use one, for business expenses. The credit card statement will itemize your expenses, and you’ll have a much simpler time figuring out where the money went.

You can run a business well without a business credit card, but it is not exactly easy. Using a business credit card to manage expenses makes everything easier, and allows you to keep your expenses separate and keep track of them.

While business credit cards are not right for everyone, there are advantages to using one well, and if you have a business credit card, even if you only use it during slow periods to finance operations for a while, you will be surprised how helpful it is in taking care of business until things pick up a little. Just the access to business funding that a business credit card provides can make your business run much more smoothly, even if you don’t use the card often or at all.

Some really great news for you, fellow business owner.

The House of Representatives today approved a bill, the Credit Cardholders’ Bill of Rights Act (H.R. 5244), 312-112 to stop credit-card companies from continuing to exercise harmful and anti-free-market practices that severely inhibit small-business owners ability to grow their business, hamstringing the U.S. economy. NSBA strongly urges the Senate to take-up companion legislation and send the message to America’s small businesses that Wall Street isn’t the only street in America that matters in Washington, D.C. Credit cards are critical to small businesses. Many small businesses lack the assets necessary for traditional bank loans and turn to credit cards as a vital source of capital. In a nationwide NSBA survey, 44 percent of small-business owners identified credit cards as a source of financing they had used in the previous 12 months — more than any other source of financing, including business earnings. Despite small-business owners’ increasing reliance — in 1993, only 16 percent relied on credit cards — nearly two-thirds reported in August that the terms of their credit cards are worsening.

“Imagine if I, as a small-business owner, was allowed to routinely change my terms of engagement with my clients at any time for any reason — it’s just unthinkable,” stated Larry Nannis, NSBA vice chair for advocacy and small-business owner from Needham, Massachusetts. “Yet, credit-card companies do this every day. All we are asking for is basic fairness — that credit-card companies be held to the same standards as any other business.” H.R. 5244 will codify the most significant regulatory changes recently proposed by the Federal Reserve Board (Fed). It is crucial that these proposed changes be codified to ensure their enactment and applicability in the future. The idea that Congress need not delve into this issue because the Fed already has is shortsighted.

The Fed easily could weaken their proposed rule before enacting it or in the future. As the Administration calls for a $700 billion financial bailout plan for some of the largest U.S. corporations, there are countless small-business owners struggling with an inability to garner financing, skyrocketing energy costs, and business loans out-valuing their home equity. Yet, small business is still charged with creating jobs — having created 93.5 percent of all net new jobs since 1989 — and driving the U.S. economy out of the current slump.

“The overwhelming majority of small-business owners are feeling the credit crunch, and this bill offers a tangible way to ease their pain,” stated Todd O. McCracken, NSBA president. “I certainly hope all the talk we’ve heard during this election cycle about the importance of small business isn’t just lip service.” For too long has the small business owner been pushed around by creditors and lenders, and finally here’s some relief. There’s no better time than now to start building your business credit and keep your business prosperous.