How to start a reselling business
Tired of the daily grind? Dreaming of being your own boss? Starting a reselling business might just be the perfect opportunity you’ve been waiting for!
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Product Development Challenges and Solutions for Small Businesses
As a small business owner, one of the most critical factors for success is the ability to develop innovative and appealing products that meet customer needs and stand out in a crowded market. However, the process of product development can be a daunting task, fraught with challenges that range from limited resources and lack of expertise to intellectual property concerns and fierce competition.
Inventory Management and Optimization for Small Businesses
Effective inventory management is a critical component of success for any small business. As a small business owner, you juggle countless responsibilities, from managing operations to overseeing finances and ensuring customer satisfaction. In the midst of these demands, it’s easy to overlook the importance of optimizing your inventory management processes. However, doing so can have far-reaching consequences, impacting your cash flow, profitability, and overall competitiveness.
Treasury Department Drastically Narrows Corporate Transparency Act Requirements
Major Policy Shift Exempts U.S. Companies and U.S. Beneficial Owners On March 21, 2025, the Financial Crimes Enforcement Network (FinCEN) issued an interim rule via press release that fundamentally transforms the scope of the Corporate Transparency Act (CTA). This significant revision exempts all domestic reporting companies from filing requirements and removes the obligation for foreign … Read more
Infographic: SBA Charge Off Rates as a Percent of Unpaid Principal Balance (UPB) Amount
The Small Business Administration’s (SBA) charge-off rates, which represent the percentage of unpaid principal balance that has been written off as uncollectible, have shown a significant improvement over the past decade. The data reveals that charge-off rates peaked in 2015 at 1.69%, followed by a steady decline through 2020. Between 2014 and 2015, there was … Read more
Infographic: SBA Loans by Business Type for 2023
The 2023 Small Business Administration (SBA) loan data reveals a clear preference for Limited Liability Companies (LLCs) among loan recipients. Out of the total 63,286 loans distributed, LLCs dominated the landscape with 40,325 loans, representing approximately 64% of all SBA loans issued that year. Corporations ranked second with 15,521 loans (about 25% of the total), … Read more
Infographic: SBA Number of Approved Loans by Year
The Small Business Administration (SBA) loan approval data from 2014 to 2023 reveals interesting patterns in small business lending over the past decade. The number of approved loans showed steady growth in the early years, increasing from 58,041 in 2014 to reach a peak of 70,082 approvals in 2016. However, following this peak, the numbers … Read more
The Corporate Transparency Act’s Legal Rollercoaster: What Business Owners Should Know
The Corporate Transparency Act (CTA) originally required businesses to report beneficial ownership information (BOI) to the federal government by January 1, 2025. This law was part of the Anti-Money Laundering Act of 2020, designed to prevent financial crimes through anonymous business structures. However, recent court decisions have temporarily halted this requirement nationwide. The law’s implementation … Read more
Infographic: SBA Loans by Employee Count for 2023
The 2023 Small Business Administration (SBA) loan data reveals a clear pattern in lending distribution across different business sizes. The overwhelming majority of SBA loans were granted to very small businesses, with companies employing 5 or fewer people receiving 38,988 loans, representing approximately 62% of all loans distributed. This significantly outpaces all other business size … Read more
Infographic: SBA Charge Off Amounts by Program for 2014-2023
The Small Business Administration’s charge-off data from 2014 to 2023 reveals interesting trends across its three main lending programs. The 7(a) Regular program, which is SBA’s primary lending program, showed the highest charge-off amounts throughout the period, peaking at $1,475 million in 2015 before experiencing a general downward trend. The most dramatic decrease occurred between … Read more