Five Financial Hacks for New Entrepreneurs

Running a business is not a child’s play. Not only does it require monetary investment, but one needs to dedicate their time and 100% effort into maintaining a business. Even the most successful business owners must work tirelessly to run their business with a stable ground. When it comes to new entrepreneurs and their new businesses, things can be way tougher for them.

The biggest challenge for new entrepreneurs is to stabilize their businesses. It is that stage of a business that has the potential to make or break a business. What the new business owners need are tips that make things easier for them.

Here are the best financial hacks that can work wonders for those who have stepped into the business world for the first time! Check out America's Best Bookkeepers

Understanding credit:

What many business owners do not understand that their credit score can help them get funding. A better score makes it easier for businesses to attract investors and funds with good personal credit. These loans, funds, and small investments can significantly help small businesses gain momentum.

The perfect approach to credit score is to pay the bills on time, not to carry any high balances, and to use the oldest accounts. It is best to focus on maintaining a good credit score. It not only helps in getting funds but lowers interest rates are imposed on the loans. Check out America's Best Bookkeepers

Never rule-out possibilities:

The smartest way to run a business and stabilize it is through planning. Strategizing and planning can help a business achieve stable ground faster. A plan must include the business’ financials and include a comprehensive list of all possibilities. It is one of the most integral parts of a business plan.

Ruling out possibilities is a bad strategy. By preparing for the worst and the unexpected helps entrepreneurs to stay determined and provides them with confidence. No one can plan for what is in the store for them, but the least one can do to stay prepared.

Keep personal, and business finances separate:

Separating the finances is a smart way to run a business. Many people do not understand that separating personal and business finances can provide numerous benefits. Entrepreneurs use their finances to start a business, but when a business starts to run, it is best to invest and use the profits for the business.

The first benefit that can be enjoyed is that the entrepreneurs will know if their business is making money or not. It can become easier to track the amount spent on the business and how much is coming back. Another way the entrepreneurs can benefit from it is to know which business expenses they have to cut out. It will help them in budgeting for their business. Check out America's Best Bookkeepers

Work out taxes and keep money aside:

If not managed properly, paying taxes can make a business bankrupt. Therefore, make working out money for paying taxes a priority. It will help the entrepreneurs by providing them an upper hand over IRS. The most genius approach is to set aside at least 35% of the entire income, subtracting the costs. Also, entrepreneurs can consult tax professionals for further guidance!

Staying prepared for taxes is one of the best ways a business owner can shield their business. Managing taxes is essential for running a business on s steady ground.

Set a budget and keep reviewing it:

Many people think that budgeting is only for personal finances, but it is an important tool in businesses. Business budgeting can help entrepreneurs in significant manners. It is common to step many take-ups at the initial stage of starting their business and forget it once the business starts to run. A smart play of an entrepreneur includes thorough budgeting for a business. Cutting down on unnecessary business expenses and spending only on things that are the essentials.

Not only does a business owner draw up a business budget, but they should also keep reviewing it and updating it. With time priorities and expenses change, and that is why the budget must be reviewed at regular intervals.

These are the top hacks, more like tips, that will help new entrepreneurs step into this area with confidence. These are the things most entrepreneurs are not told, and they end struggling more than other businesses. With these hacks, entrepreneurs can enjoy a good start in their new business!

Check out America's Best Bookkeepers About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity. Check out America's Best Bookkeepers

How to Get a Microloan?

The biggest challenge for entrepreneurs today is attracting investors. When a business is being set up at a large scale, attracting investors is not particularly challenging. Things are different and challenging for small-scale businesses. In the struggle of finding the right investors, the world loses some great business ideas. Even genius entrepreneurs do not get a chance to prove themselves to the world.

Microloans are helping small-scale entrepreneurs jump-start their businesses since 1977. It is the perfect help young entrepreneurs need, and it paves the way for them to take their small businesses to a higher level of success. It is one of the major factors that have encouraged entrepreneurship and improved economic growth. Check out America's Best Bookkeepers

What are microloans?

Microloans are short-term loans, subject to a small interest rate, that support new startups, small-scale businesses, and self-employed individuals. The range of microloans lies within $50,000. It is a great option for entrepreneurs in need of a small loan that banks are unwilling to provide. Microloans are easy to get for entrepreneurs in low-income communities or countries and female entrepreneurs. The conditions to qualify for a microloan are not as stringent as other business loans. The only eligibility condition to get microloans is to have a registered business.

How to get a microloan?

Entrepreneurs who are willing to get a microloan must follow this step-by-step guide. It provides a simple and easy way to get microloans.

Step 1: A finalized business plan. Check out America's Best Bookkeepers

The first thing a microloan lender will look at is the business plan. A business plan must be extremely attractive as it is what builds the first impression. The strength and the potential to grow are evaluated based on a business plan. Therefore, it must be strong and very impressive. The most important information an entrepreneur needs to include in the business plan is a detailed goal of the business; how will it generate revenue, a practical strategy, all the entities that the business’s functionality will rely on, and a detailed marketing strategy. It is not complicated for people who have a clear image of what they want to achieve. It is important to dedicate a healthy amount of time and effort to draw up the finalized business plan.

Step 2: Offering a collateral guarantee.

Generally, business owners with little or poor credit history get microloans. It is a major reason why lenders ask entrepreneurs to provide collateral or personal guarantee. A collateral guarantee is when a borrower must provide a guarantee through valuable personal property. It can be one’s home, real estate property, or any other valued possession. If a borrower fails to repay the loan, the lender has the right to sell the collateral and cover its costs. If an individual does not have such valuable property, the lenders will ask for a personal guarantee. With a personal guarantee, if a borrower fails to repay, the lender will seize the personal savings or any other assets found valuable at the time.

Applicants of microloans should know that the lenders, after selling the property, take the amount equal to the sum of the principal amount and the interest. The rest is for the borrower. Also, it is important to discuss the matters of collateral guarantee if there is more than one owner of the business. Check out America's Best Bookkeepers

Step 3: Willingness to invest

The microloan lenders will not provide a loan if the entrepreneur does not show their earnest efforts. A lender expects to see an applicant giving their best to the business with time, effort, and of course, money. An entrepreneur must set aside a small amount of their savings for investing in the business. It works perfectly in convincing the lender that an entrepreneur is willing to invest everything in the business.

It becomes easy for small businesses and entrepreneurs to get microloans by following this 3-step guide. The lenders evaluate the entrepreneurs who have applied for the loan. Only the entrepreneurs extremely dedicated and passionate about growing their business qualify for the loan.

Traditional banks are the first option that comes to mind when a business requires a loan. If a bank approves the loan request, it is great news for businesses. But mostly, all loan applications for an amount lower than $50,000 get rejected. That is why microloans are the best option for small businesses or entrepreneurs who need an exceedingly small amount to start their businesses.

Check out America's Best Bookkeepers About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity. Check out America's Best Bookkeepers

How to Handle Project Change Management

Project change management is categorized as deletions, additions, or revisions of organizational objectives and possibilities. Either they decrease or increase the schedule and cost of projects. Although some) support this classification and explains the transformation in an engineering venture as everything that affects that is: Check out America's Best Bookkeepers

  1. the brief, requirement, and scope of the project
  2. The appointment and project group association
  3. The period needed to construct or design the venture
  4. Procurement forms
  5. The whole-life cost, capital cost, or worth of the venture
  6. The scope and project-related hazard provision.

Changes usually happened due to unexpected events, reword or dissimilarity, inclement weather, and industrial actions. The main issues that affected the reword include design error and DCs construction transformation. Moreover, DCs are likewise known as the engineering changes that explain modification and changes in styles, dimensions, constituent components, fits, and forms.

Engineering changes are one of the leading issues for both the manufacturing and construction industries. There are three types of engineering changes usually found in the production business contingent on while they happen in the project design development. Check out America's Best Bookkeepers

  1. Engineering changes at the opening phase of the design
  2. Engineering changes after the opening phase of the research design
  3. Engineering changes during the main rebuilding of a good. The managerial changes pursuits are scarcely elegant on the role of leader that assist the businesses in preserving its sustainable role out there. Furthermore, the activities of leaders play an important function within the conventional transform of organizational initiatives.

In step with the literature, it is published that the construction company would efficaciously execute transformation organizational exchange along with each emergent and deliberate transformation procedure. Some of the writers recounted that the efforts of transformational leaders depend on the diverse kind of transformation methods and structure of the group.

He extra acknowledged that the attitudes of the transformational leaders of direct supervisors make contributions to small to deliberate approaches of transformation; nevertheless, it is essential in setting up practices of transformation in a context of non-bureaucratic. The majority of the researchers stated that leaders’ attitudes would have to be no longer omitted within the transformational exchange procedure as they are the primary pillars of the institution. Check out America's Best Bookkeepers

Alternatively, these respondents who have been mindful of the entire phrase indicated the proper answers within the survey. Additionally, the writer instructed that one other intent for equivalent results of the median and mode was once that the pattern size was once very small to incorporate differentiated answers.

Also, the author used cluster analysis and depicted consistency in the results of the descriptive facts and cluster analysis, which confirmed that the data assortment and the approach of the study went the proper method. Therefore, the outcome is safe and might use in the future. The undertaking of recent city regulations can enforce scope baseline to change and expand the challenge funds.

The overall objective of the company is to achieve the sustainable outcomes of the project and also reviewed the number of activities where the change is needed as well as must evaluate the factors such as time and cost for overcoming the challenges that the companies have faced to achieve their competitive advantages from the market.

The change orders system in the construction industry can be summarised as:

  1. transformed needs of the managers
  2. Planned mistakes, for example, wrong estimation of quantity measures, inadequate management of agreement interfaces, planning mistakes, inconsistency among site condition and drawings, and reference of the insufficient requirement
  3. Unexpected situations concerning sites or management guidelines, for example, change of decision making, change in rules and regulation and change in project’s needs, project transfer ownership and commission, district suppliant.
Check out America's Best Bookkeepers About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity. Check out America's Best Bookkeepers

The Importance of Performance Management

Performance management is relevant to increase the efficiency and effectiveness of any organization. Organizations are more focused on various techniques that enable the management to evaluate the performance level of employees working in each departmental unit of the organization. Furthermore, this aspect can also play a proficient role in producing an enhanced quality product or service in the market.

Based on various techniques, performance gaps in employees are measured, and then to address these gaps, various motivational techniques are used. As the customer plays an imperative role for any organization, motivational techniques can also be pivotal in this regard, as the organization’s performance can be enhanced while considering the modern needs of the customers. Therefore, it is vital to study the aspects of Performance Management. Check out America's Best Bookkeepers

In this regard, Performance management can be referred to as a process that any organization can use to align the organizational resources, including employees and systems, by the strategic objectives of any organization. Although these are various performance management techniques that aim to determine and increase employees’ efficiency, incentive programs play a pivotal role in the Healthcare Industry.

The performance of each employee is first evaluated, and based on it; various incentives are provided to the employees. Employee incentives are usually provided on the effort of employees by the use of rewards based on cash prizes and employee recognition. This aspect has played a pivotal role in increasing employees’ performance levels, working in the healthcare industry.

Along with incentive programs, some motivational techniques are also used to enhance employee performance. The motivation level of employees can be enhanced by soliciting the employee inputs and providing them new growth opportunities on the job that can be based on promotion and other techniques. Check out America's Best Bookkeepers

In this regard, human resource management plays a significant role in any organization to increase the motivational level of employees by introducing appropriate plans to increase the performance level of employees, thereby increasing the organization’s performance level.

Some of these plans include training and development programs for employees, incentive programs, recognition, performance evaluation, and recruitment and selection of employees. However, all of these plans are directed toward organizational strategies and organizational plans.

Service Quality Improvement and Quality Management can be used to analyze the performance and efforts in organizations to improve their performance. Enhanced performance management can be pivotal to increase the efficiency level of employees, as an increased level of quality-based inputs can enhance the quality outputs in the organizational operations.

Every organization is focused on performance management to provide improved quality of products and services in the market. The management of the organization plays a pivotal role in assessing the performance of its employees and system. Then, specific techniques and plans are formulated to increase their performance level and fill up any gaps in employee performance. This aspect can also play an essential role in enhancing quality management and improving the performance of the company’s products and services in the market.

This aspect can be pivotal to provide a competitive advantage to the organization in the industry. However, Human Resource management plays a pivotal role in enhancing organizational performance to achieve the organizational objectives. Check out America's Best Bookkeepers

Purpose

The vital purpose of this dissertation is to study the aspects of performance management and its influence on the performance of the public healthcare industry. Performance management is one of the matters that can provide new opportunities for organizations by achieving a competitive advantage.

Operational activities of human resource management and their effect on organizational performance are illustrated. In this stance, specific operational techniques, including rewards, incentive programs, and motivational techniques, are discussed and their cause and effect on employees’ performance management.

Furthermore, by utilizing various data sources, the primary purpose of the research is to identify the factors that can influence and affect the performance in the Healthcare Public industry. The healthcare industry plays a vital role in every economy. Therefore, its performance plays a significant role in other regions of the world. The primary objective is directed to evaluate the performance management of the healthcare industry.

For this reason, the article aims to analyze the impact of various performance management techniques used by organizations, and in this regard, their cause and effect were evaluated. Furthermore, the article also illustrates human resource management performance and its associated importance in implementing the healthcare industry’s performance management plans. Underlying such broader aims are specific objectives.

Check out America's Best Bookkeepers About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity. Check out America's Best Bookkeepers

Find the Best Loans Without Interest!

Loans without interest have become a much-demanded aid in recent times. Users are seduced by the idea of ​​not having to pay commissions, so more than one has decided to hire these services. Although, before you choose quick loans without interest, we must tell you what it consists of in detail. Thus, you will know which ones to request at any time without any unforeseen events. Check out America's Best Bookkeepers

 

What are interest-free loans?

Interest-free loans are those financial transactions that are carried out without any commission or additional charge. Its existence is due to the increase of credit entities. As they all compete among them, they must offer quality and attractive service for their clients. Banks or private equity businesses have also decided to have this kind of help for their clients. However, we always recommend you see the Annual Equivalent Rate since many do end up charging commissions.

 

Types of quick credits without interest

Loans without interest can be classified according to their duration, economic amount, or situation. For this reason, we have selected in this article which is the most demanded, which users prefer. Thus, you will not have to read many articles to find out which one best suits your situation.

 

First interest-free loan

It is one of the best-known alternatives. The lenders benefit from the money they leave to a person who is in a bad situation through the commission. If there are no commissions, financial institutions cannot survive and continue to help you. Check out America's Best Bookkeepers

Therefore, there must be interests and commissions. However, to help you, many entities provide the first loan without interest. So, you can find out how they work and think carefully about whether to hire a second service with them.

 

Microcredit without interest

The microloans without interest are possible because being of an incredibly low economic value can dejártelos 0 interest. In Credy.es, you can request this type of help. The money varies depending on what you need, but we advise that being the first, ask between $350 and $480 maximum. In this way, you will see how this entity works. Although, you can request up to $890 quickly and comfortably.

 

Interest-free loans

There are no interest grants for young people, self-employed workers, new entrepreneurs, etc. All the help you need you will find through the internet. Today many entities decide to invest in the future of others.

We know that some situations can be exceedingly difficult and that you do not always get the money you need at the right time. For that reason, there are companies like Credy.es that allow the first free loan and the following ones with a low interest rate.

 

Credit cards

They are some cards specialized in providing money in advance. Once the month ends, you must reimburse the amount spent so you can continue enjoying this great advantage. This way, you will not have any kind of commission.

Although, you must bear in mind that there will be interest if you choose the installment payment in installments. These rates can reach 27%. Therefore, think carefully before deciding. Check out America's Best Bookkeepers

 

Are these types of loans reliable?

Not all are reliable, so you must be incredibly careful. Many entities sell the loans as free to deceive their customers and include other additional expenses on the invoice. You must be attentive because while you think that you enjoy commissions at 0%, the truth is that it is not. Therefore, if the TIN (Nominal Interest Rate) does not exist, you must consider the fine print of the entire contract. So, from Credy.es, we advise you to read all the clauses before signing or deciding carefully. The Annual Equivalent Rate is the most important because it reflects all additional expenses and commissions. Also, if you contract the help with a bank, make sure that you do not charge an opening or cancellation fee. You should ask since they will not tell you directly. On the other hand, make sure you comply with the contract properly. If you do not do it, you will have to face the appropriate penalties.

 

What happens if you do not return the money on time?

When you apply for a loan or credit to a financial institution, you are signing a contract. As in other life procedures, you should read it calmly and be sure of all its clauses. Once you sign and accept, there will be no going back. If an impediment or adverse situation arises that prevents you from completing the contract, you must let the financial company know as soon as possible. However, in most cases, you will add commissions that have not taken place to date. Keep in mind that the company is doing you a favor and that you have no reason to do so.

 

Can I get a free loan with ASNEF?

Yes, you can get a loan with no interest by finding yourself on the ASNEF list. However, the debt you have pending payment cannot have been contracted with a financial institution. If you owe money to an online company or bank, you will have to deal with that situation before requesting more money. This is done to ensure the safety of the company itself and yourself. If you could not fulfill the contract, you would have to pay some commissions to seniors, which would be exceedingly difficult for you, making it impossible for ASNEF to leave.

 

Check out America's Best Bookkeepers About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity. Check out America's Best Bookkeepers

The Impact of Construction Materials on Human Health

The effects of building construction on wellness and human health are becoming a more significant concern in the construction industry. As the industry attempts to fulfill new requirements related to wellness and human health, an important concept is using different construction finishes and materials. Check out America's Best Bookkeepers

What is the concern?

An evolving focus is whether specific materials contain poisons, chemicals, or other products that could harm wellness and human health at relatively low doses. Poisonous chemicals can show their effects during manufacturing, the use of the product, or its disposal.

They might be cancer-causing or affect the respiratory, endocrine, neurological, and other human body systems. For example, paint on the wall might produce volatile organic compounds (VOCs) or particleboard might have formaldehyde, flooring might have phthalates, and most furniture is coated with flame retardant. Each material has its hazards and, in combination, can be extremely harmful to human health.

Research has been conducted which established that reducing exposure to toxicants has some measurable health advantages. A current study displays that lessened VOC emission in the workspace can enhance cognition, which is a piece of good news for an employer whose operating budget is almost wholly tied to worker productivity and cost. Check out America's Best Bookkeepers

The wellness and health care system is the same reduced by measures like removing formaldehyde, which has shown some potential to lessen asthma signs by over half. Numerous studies claim that, overall, these sorts of interventional measures are more cost-effective than medical treatment of illness.

As a market, we have developed more confidence when speaking regarding the environmental effects of the products we consume. Data are concerned with recycled original material or content. For instance, they have become ordinary places.

But a similar cant is said regarding data concerned with human health impacts. The market now avoids various “worst offending” materials, like asbestos and lead, because of government regulation. Even for these products, there was a years-long interval between the scientific connection of the health risks they modeled and the execution of regulatory action for the poisons mentioned earlier. There are some concerning regulations to address their use.

What is a construction professional to do?

Some programs and systems are in place to help evaluate the materials. One such system is the LEED evaluation system. The system has long satisfied construction projects for selecting products with low urea-formaldehyde and VOCs.

The newest version LEED v4 presents evaluates the material ingredients, which rewards projects for tracking at least 20 products where the manufacturers have entirely revealed the ingredients it covers. This may look trivial but is, in fact, a typical exercise. Most of the standard formats for a manufacturer to reveal products are through a health product declaration (HPD), an online database or publication, like pharos, or attaining a third-party certification like cradle to cradle. Different websites and the database of products reveal their ingredients entirely like pharos, cradle to cradle, and the green wizard certified products database. Check out America's Best Bookkeepers

Under a similar new credit, a project chasing LEED v4 could earn an extra reward by selecting products that validate a low threat to human health. Other green construction rating processes like the WELL business standard and living construction difficulties propose similar reward mechanisms.

What do you need to know?

We have to begin with similarly treating supplies as energy competence, which affects numerous disciplines in a project and needs organization, critical thinking, and early planning to acquire desired results.

Conclusion

Project teams could influence their product selection to reward element transparency and mainstream this practice among manufacturers. The final goal of transparency is for the constructor to make more effort in making healthier products.

In the long term, construction teams will need to arm themselves with information to precisely evaluate the advantages and hazards of a product based on the information enclosed by the manufacturer.

Check out America's Best Bookkeepers About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity. Check out America's Best Bookkeepers

5 Reasons to Invest in Real Estate

When it comes to investing, there are so many options in which you can invest. When people think of investing, they think of the stock market, your company’s 401K, mutual funds, and other investment options. However, real estate investing is generally one of the safer investments, depending on how you use the investment.

Whatever reasons you decide you want to try your hand at investing, real estate should be in the mix of consideration. Here are five reasons you should invest in real estate. Check out America's Best Bookkeepers

Property Appreciation

Property appreciation isn’t that you appreciate that you own the property. This use of the word means the increase in the value of a property. Many purchases of property depreciate as soon as you purchase them, such as a car. A car depreciates the second you drive it off the lot because it immediately has factors attached to it that decrease the value, such as mileage and previous ownership.

Real estate is not like that. Real estate property values increase (or decrease) according to the real estate market. While it is true that there have been severe downturns in the real estate market over the years, for the most part, if you can ride these downturns out with the property you own while possibly obtaining more properties for spare change on the dollar, you can make out well during those few and far between times.

If you are investing in a property you intend to flip and sell, then a slower or bottom market would not be ideal since you might get the property for a steal but may not be able to resell it. However, buying a property to use for passive rental income, buying low, and investing enough to fix any issues, then renting it out will be ideal. You can then wait for the market to heat back up and resell it (once the lease is up) for a nice profit. Or you may choose to keep it as a rental property collecting that sweet passive income. Check out America's Best Bookkeepers

Cash Flow Income

Speaking of passive income and rental properties. Cash flow income is, as mentioned before, using your purchased property or even buying already established rental properties for the sole purpose of renting out space(s) for continuous passive income.

The cash flow income can be more resilient if the real estate market takes a hit or crashes. These passive income properties can even sustain you through overall economic downturns or personal financial difficulties.

Real Estate Related Income

You may be thinking we have been talking about real estate-related income this whole time, and we have. Still, this particular use of the phrase refers to revenue generated from a real estate job-related source.

Real estate-related jobs could be a real estate agent or real estate broker, which gains their income from real estate sales commissions. Another real estate-related job is property management. This job entails running a property such as a building with offices, an apartment complex, or a hotel for an owner who wants to remain hands-off and have someone else manage their investments.

While this may not seem like an investment in real estate, if you do not own the properties yourself, these real estate-related jobs are an investment in your career and future financial stability.

Ancillary Real Estate Investment Income

When most people hear real estate investing, they likely conjure up the idea of owning real estate property and either reselling for a profit or using it as a rental property as a passive income. Check out America's Best Bookkeepers Ancillary real estate investing is ownership of investments that generate income, such as vending machines, paid laundry facilities, ATMs, and other smaller businesses operated within more significant real estate investments.

Because these types of machines are in places that make them convenient, they can create a decent income due to the customers’ semi-captive nature. These types of real estate investments could be a great starting point for someone without a lot of capital to invest or without a lot of experience in real estate investing.

Your First Property Investments

If you have the capital for a down payment and the credit score to do it, you may want to consider purchasing your first real estate property through a mortgage loan. You can then use this property a few ways to get returns on your investment. You can make sure the mortgage loan includes money for upgrades and fix it and flip it for a profit, which will pay off the mortgage and give you a profit. Or you can use it as a rental property setting the rent to cover the monthly mortgage and yearly dues and property taxes along with padding for profit.

If you don’t have much-starting capital to invest in a property independently, there are crowdfunded investment groups. Each person in the group will invest a minimum amount, and the group will invest in a property and split the profits made through rentals or resale.

You can also look into the option of ancillary real estate options as they are often reasonably inexpensive to invest in and can gain you immediate profits from day one of placement.

Conclusion

There are many reasons you should become an investor. Using these five explanations, you should consider making one of your investment choices real estate. Though no investment guarantees, real estate can provide either a large lump sum or a stream of income through rental properties.

Check out America's Best Bookkeepers About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity. Check out America's Best Bookkeepers

5 Ways to Ensure a Small Business Loan

A small business start-up will seldom have all the money needed to start, operate, and sustain the business through the tough first year of business. Most small business owners will be seeking money.

While recent times have seen some other sources for raising money, such as crowdfunding, peer-to-peer funding, and instant online loans, business financial institution lending is still the most sought-after choice for small business start-ups or those small businesses who require money to grow. And lending by the Small Business Administration (SBA) is at the highest levels.

While it is recommended that small business owners use every available resource to raise funds needed to start or grow their business, they should also know what top business financial institution lenders expect to see when considering a loan to a new or growing business. Here are the five ways to ensure a small business loan. Check out America's Best Bookkeepers

You Must Become Credit Worthy

Before you step foot into a business financial establishment looking for a loan to start a small business, you need to take care of any adverse or inaccurate credit score problems on your credit report. You also need to solve tax issues or previous business matters that could label you a lending risk.

Anything such as tax or credit liens, garnishments, damaging financial institution transactions, or owing back taxes can all be risk red flags for a possible lender, so you must have all of these issues solved, or looking for a loan will be a waste of everyone’s time. There are many ways to overhaul negative financial issues you have gotten into, and you must use them before you secure a loan for your small business. Check out America's Best Bookkeepers

You Must Create a Strong Business Plan

The top business financial lenders say that a well-written and accurate business plan is vital to a positive answer to your loan request. Your business plan is a representation of your genuine understanding of how your business will function. Still, it shows you have thought out what you are getting yourself into and how to handle all the aspects required to run a successful business.

Your business plan should incorporate financial projections, marketing strategies, business administration, and processes. The business plan lets the lender see your plan for repayment through these examined and well-thought-out parts of the plan. The business plan gives the lender assurance that you can repay the loan. Without this assurance, no lender will grant you a business loan.

You Must Plan for Every Case Scenario

In the financial forecasts, lenders expect to see an explanation of at least twelve months broken down by month, including the best through worst-case scenarios. The likely lender needs to see that you will financially endure and make loan payments even if your business has a month that sees a 10, 20, or even 30% drop.  Showing this amount of monthly detail will let a lender know that you have a plan to survive the inevitable downturns businesses experience.

You should do this as a monthly breakdown because knowing the good and bad times of year for your business shows you understand your business and finances. Check out America's Best Bookkeepers Some businesses will boom in the summer and die in the winter, and others are solid during the holidays and possibly make their year in a two or three-month period. Having this deep knowledge of your business and its financial projections month to month will give a lender great confidence and get you a positive result.

You Must Have Business History or the Equivalent Cash Equity 

If you are obtaining a loan to help your business expand, you will have some business accounts. Many lenders will require two years of history in these cases. However, a lender may require the owner to have cash equity to inject into the business if you are a new business. The lender may need supplemental income to reduce the loan total, dropping the risk of non-repayment.

You Must be an Involved Owner

A lender is more likely to grant a loan to an owner with practical plans to amass accounts receivables and ensure that revenue is not tied up in bad debt expenditures. You should also show that all your cash liquidity isn’t going to be tied up in inventory but readily available to use for unforeseen business needs or to cover payments.

You should also show that you have a strong and direct marketing plan that will be carried through even when business is slow. Lenders understand that marketing is crucial to the accomplishment of a business. It has its own prominent section in every good business plan, showing that it is essential to generate customers and revenue.

Check out America's Best Bookkeepers About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity. Check out America's Best Bookkeepers

Creating an Emergency Fund

There are many types of savings every financially responsible adult should consider. The emergency fund is perhaps the most important, even above saving for retirement. Having an emergency fund will protect you against many financial hardships. These hardships include:

  • Job Loss
  • Large, Immediate Purchases
  • Home and Vehicle Repairs
  • Emergency Travel

Here are three helpful tips when saving an emergency fund. Check out America's Best Bookkeepers

Use a Financial Advisor

While hiring a professional financial advisor is expensive, it is a financially wise thing to do, especially if you are not good with your finances. Many intelligent and savvy adults who are good at their jobs and have talents in other areas are not good with money. Commonly, most working adults carry a little to a far more significant amount of debt brought about by the mishandling of their money.

The cost of hiring a financial advisor will easily be defrayed by the amount of savings having a professional help you straighten out your finances will gain you. These financial experts know how to help you identify where you can make changes and create savings accounts for your future and emergencies.

Most people hesitate to use a financial advisor because of the cost but because they are embarrassed by their financial situation, and laying it open in front of a virtual stranger can be challenging. If you can put these concerns aside and understand these professionals have seen it all and know how to get you on the right financial path, you will not regret your decision.

Not only will they help you quickly establish a much-needed emergency fund, but they can also help you with every aspect of your finances, leading you to financial freedom. Check out America's Best Bookkeepers

The Amount of Your Emergency Fund

Most people ask how much an emergency fund should contain when contemplating one. If you are a novice at saving, the answer is that you should start small and save $1,000 as quickly as possible. These savings will easily cover minor issues such as car or home repairs or other similar problems.

Once you have the $1,000 emergency nest egg, it is time to build that savings to cover more significant issues such as job loss or medical problems that could cause longer-term income loss. Most experts will recommend this amount be equal to at least six months of your income. Doing this will ensure you are covered if there are hindrances to employment for a prolonged period.

Once you have six months of your income saved, it is suggested that you continue to build towards a year. Keep in mind that these savings are never to be touched for anything other than an emergency or financial hardship. It would be best to have additional protection to include those for specific large purchases or vacations and those specifically towards your retirement funds. But before you contribute to any of those other savings accounts, you should use all your savings efforts to build your emergency fund.

Where to Keep Your Emergency Fund

You could keep your emergency fund in several places, but you should follow some definite rules to ensure it is held in the right place(s).

Before deciding where to keep the funds that work best for you, there is one rule to follow, no matter where you choose to keep this fund. Ensure it is accessible without penalties or days of red tape to obtain. After all, it has an emergency right in the name, implying you will need it right away. However, please don’t make it so accessible that you will be tempted to use it for non-emergency purchases. Restrain yourself from “borrowing” from this fund for the non-emergency desires of your heart. Check out America's Best Bookkeepers

One of the safest places to keep your emergency funds while also fitting the previously described rule of thumb is in an online bank. Banks that are entirely housed and operated online make electronic transactions easy while also being an account not attached to your traditional bank account, making accessing it more tempting.

Another excellent account that will not be attached to your traditional bank account is a money market account. This type of account is not only a standalone account, but it can gain your interest while your money is sitting in reserve, waiting for an emergency. Savings accounts that earn interest are never wrong, especially when you try to build this emergency account to equal a year’s income.

Conclusion

Having an emergency fund equals peace of mind. Many people find themselves struggling in times of immediate financial need. Using these three tips, you should be able to establish a healthy and helpful emergency fund. Whether it is $1,000 or more, which is suggested, having emergency funds saved will help in times of financial need, and that peace of mind is priceless.

Check out America's Best Bookkeepers About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity. Check out America's Best Bookkeepers

How to Protect Your Small Business Against Recession

When there are difficulties in the national economy, it can result in a recession. There are indications that the nation is about to face a major recession. Therefore, your small business must prepare to endure it.

When the country goes into recession, small businesses endure the most difficulties. While it may seem you will have to take radical measures to endure a recession, you can make small adjustments that will greatly impact making your business recession-proof.

Many small businesses will not survive a recession. However, if you take some steps to protect your business, you will ride out the recession with no issues. Here are some ways you can take steps to protect your small business against a recession. Check out America's Best Bookkeepers

Protect Resources Before You Need Them

When you have a small business, it is best to secure and protect financial resources before a crisis or a recession.  You should ensure your business is well-established and in good standing. Banks want to work with proven and well-established businesses when a recession is looming. Therefore, financial institutions will not lend to a business that is new or has financial issues.

While your business and the economy are solid, secure financing will help you now and in the unknown future. Ideally, you should ensure you have a constant source of financial coverage, whether from loans, investments, or other sources of financial coverage.

Financial resources should be put in accounts and sheltered investments to ensure that your small business will survive if a recession hits your small business. The focus for this step should be securing financing and ensuring those funds are protected. Check out America's Best Bookkeepers

Automate

Automation can ensure that the financial aspects of your company are protected and accurate. It can also eliminate the need to have an accountant, bookkeeper, or staff member, saving money. While automation does a lot to streamline your accounting and financial management, it is important that there still be human interaction with the business’s finances.

Automation can also ensure that its revenue is allotted to accounts that will protect it during a recession. The main goal of automation is accuracy and the reduction of staff. The secondary goal is to ensure finances are protected during a recession or other financial crisis.

Have a Business Plan

Having a business plan can serve many purposes for a business. Whether it is a startup or a well-established business, having an updated business plan every couple of years is essential. When it comes to a recession, a business plan can help with financing and projections. Check out America's Best Bookkeepers

While researching the business plan’s financial section, you should also plan for downturns in the business. Your projections must cover both feast and famine when it comes to the financial aspects of the business plan.

Having this possibility of a downturn built into your business plan will also allow you to develop strategies to advance any financial issues. Every aspect of a business needs planning, but the finances focus on preparations for downturns and recessions.

While there is no way to know exactly how your business will endure a recession or financial crisis if you have some strategies in place, the chances are that even unforeseen circumstances in the economy will survive.

Every aspect of the business plan plays a part in the company’s revenue, so all aspects need a recession or downturn strategy. Marketing, supplies, and production will all take a hit if there is a recession. Therefore, you have to have strategies in place for those aspects as well.

Conclusion

While recessions don’t occur often, other things can cause a financial crisis that affects your business. If you prepare ahead and have protection and strategies in place, there is no reason your business would not survive a recession or financial crisis.

Check out America's Best Bookkeepers About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity. Check out America's Best Bookkeepers