Small Business Blog Posts

Businesses are required to carry workers’ compensation in all states except Texas. In many states, workers’ comp is required as soon as you hire your first employee. Other states tie coverage requirements to the number of employees you have. Talk with a licensed insurance agent to make sure you have the coverage you need.

We considered more than 10 different small business health insurance providers to create this list. We rated these providers based on how easy it is to get a quote, the type of plans offered, features specifically designed to benefit small businesses, member satisfaction, and overall coverage.

Commercial auto insurance covers vehicles used for business and the people who drive those vehicles for work. Some insurance companies limit the number of people who can be listed as drivers, however. Check with your insurance agent to make sure you have coverage for as many drivers as you need.

A business plan is a written document that provides a complete overview of your business, including information about your business’s services, strategies, finances, and goals. All businesses should have a business plan, but a business plan is especially important when applying for a business loan.

The difference between gross pay and net pay is simple: gross pay includes all employee earnings prior to any payroll deductions, while net pay is the earnings left over after payroll taxes and deductions are subtracted from an employee’s gross pay.

Your business loan may be denied for reasons including low credit score, not enough revenue, lack of collateral, or an incomplete loan application. Your lender should provide written notice as to why your loan was denied. However, you can also reach out to the lender directly to learn more about why you weren’t approved.

A bank small business loan is a loan that a business owner receives from a bank. This can be a traditional loan that provides a lump sum of cash, or a more flexible option like a business line of credit. Bank loans typically offer low rates and long repayment terms but may be more difficult to qualify for than other types of business funding.

Johnson’s independent children’s bookstore is seriously thriving, and now, thanks to a $10,000 opportunity grant from Merchant Maverick, she can continue following her small business dreams and building her bookstore.

Small business owners that navigate the complex and lengthy Small Business Administration loan process are rewarded with low-cost, long-term business funding. Now that the hard part is over, it’s not uncommon to have questions about what comes next, like repaying your loan.

A business loan proposal is your opportunity to explain to a potential lender why they should take on the risk of lending to you. It’s a persuasive essay to convince the bank you are a viable business that will not default — you will paint that picture both with a narrative about your business and your profit/loss metrics.