Archive for the ‘Advantages’ category

The Big Advantages of Small Business

June 16th, 2011

We have all heard it said that small business is the backbone of the economy, and we all seem to know that is true. The exact definition for small business is not so clear, but what is clear is that most businesses are small by that allusive definition.

It is a bit of an irony that some business owners try to project the idea that they are bigger than they really are. As much as we might say bigger is not better, our attitudes and actions will determine whether we really believe that or not.

There is strength in being small once you discover how to harness your energy. The idea of comparing the size of a business, to the size and power of a boat, provides an excellent analogy. A cruise ship may withstand storms and high waves much better than a small yacht, but it is not very maneuverable. A speedboat can go places a ship could never attempt. It is faster, agile, and can turn quickly to avoid danger.

These comparisons are no surprise. Most people seem to realize these differences, but contemplating them well enough to seize their potential is what separates the weak from the strong. The small athlete, who could easily be crushed by bigger competitors, can still win by dodging them and outrunning them. » Read more: The Big Advantages of Small Business

The Advantages of a Business Loan

March 20th, 2011

In today’s marketplace there are many ways for a person to get money for a business they might want to start. They can go to their friends and relatives for money or they can pull out a personal line of credit in order to fund their business. There are many other options available as well, one of which is known as the business loan.

A business loan is a loan that is given out to an incorporated business by a bank, credit union or other financial institution. Rather than you being liable for the loan as you would be with a bank line of credit, the corporation that you have just created is the one responsible for the repayment of the loan. There are many advantages inherent to the use of business loans for your company and some of these advantages are discussed below.

Liability

Perhaps the most obvious advantage of a business loan is that quite often you will not be held liable for paying the loan back. Because a business loan is made to a corporate entity, if the corporate entity goes belly up and is unable to pay the loan, then the corporation will be liquidated in order to help pay part of it back. The corporation is the one that goes bankrupt rather than you personally. » Read more: The Advantages of a Business Loan