Tanya Farmer’s Post

We often hear about business credit scores, but how much do we really know about them? For small business owners and entrepreneurs, understanding this financial data can be the key to unlocking growth opportunities. Whether you’re seeking financing, negotiating better terms with suppliers, or simply building a strong financial reputation, your business credit score plays a crucial role. Private Practice Transitions is here to discuss everything you should know about business credit scores, from what they are to why they’re important. We’ll also share some helpful tips on how you can raise yours over the years. https://hubs.li/Q02FtHRm0

Starting your own business? 🌟  Having a great idea and a solid plan is just the beginning. Don't overlook the importance of building and maintaining good credit for your small business – it's your financial safety net in tough times. Our latest article walks you through how to establish credit for your small business. #smallbusinesstips #businesscredit https://lnkd.in/ehr8EubH

Don’t let building your business credit score be last on the to-do list. Here’s how to get ahead and establish a positive score with financial instituations.

Money management isn’t just about keeping the books in order; it’s a cultural issue for many small businesses. The article suggests some pretty straightforward financial tips, but here’s the thing: not every business should follow the same model. Some argue that strict budgeting stifles creativity and growth. While I appreciate the structure, I also wonder if it could limit a company's ability to pivot or innovate when the market changes. Let's discuss: do you think sticking strictly to financial guidelines helps or hinders business growth? I'm curious to hear different perspectives on this! https://lnkd.in/gMdH2BQX

If asked what mistake you've made since starting your business, what would you say❓ Small business owners may find themselves repeatedly making the same mistakes that impede the success of their companies. According to this article, these are some of the common mistakes that business onwers make;- 1. Failing to Create a Comprehensive Business Plan. 2. Poor Financial Management. 3. Neglecting Marketing. 4. Failure to Adapt. 5. Not Prioritising Customer Service What would you add as Number 6? #smallbusinessowner #sme #businessplan https://lnkd.in/emMCRXHy

Having strong business credit will give you access to the capital you need to build and grow your business at decent interest rates. Here is why that matters. #BusinessCredit

Small Business need to have sustainable cash flow for a business to be profitable and grow! Also able to be fundable when needed! In order yo do that you have to manage your cash flow! Or you will risk your business falling into financial problems to stay alive! #business #businessmanagement #businessgrowthstrategies #businessfunding #businessfinancing #smallbusinessowner #smallbuiness

Dive into the ultimate guide to building business credit and watch your small business reach new heights! Establishing a separate credit identity for your business is key to financial health and growth. Check out this step-by-step process for building business credit and give your venture the strong financial footing it needs. Read more at: #businessfinance #cashflowmanagement  

🎯 Avoiding the Pitfalls: Small Business Owners' Two Costly Mistakes 🙅♂️ Small business owners often make two critical mistakes that can hinder their growth and sustainability. The first mistake is waiting for growth opportunities to simply fall into their lap. The second mistake is being totally unprepared financially if and when these opportunities do appear. 1. Waiting for Growth Opportunities to Fall into Their Lap Issue: Many small business owners tend to adopt a passive approach when it comes to seeking growth opportunities. They rely on existing clientele or organic growth without actively seeking opportunities for expansion. This passive attitude can severely limit their potential and prevent them from reaching new markets or customer segments. Remedy: Small business owners need to proactively seek out growth opportunities through market research, networking, and strategic partnerships. By actively pursuing new avenues for growth, they can position their businesses for long-term success and mitigate the risk of stagnation. 2. Being Totally Unprepared Financially Issue: Even when growth opportunities do present themselves, many small business owners find themselves unprepared financially. They may lack the necessary capital to invest in new equipment, hire additional staff, or expand their marketing efforts, ultimately missing out on these crucial chances for growth. Remedy: Small business owners must prioritize financial planning and access to capital. Establishing a robust financial strategy, including an emergency fund, can prepare them for unforeseen opportunities and challenges. Additionally, exploring funding options such as SBA loans, cash flow & working capital financing, business lines of credit, or merchant cash advances can provide the necessary capital to seize growth opportunities when they arise. With immediate access to capital from LVRG Business Funding, small business owners have the opportunity to propel their ventures to new heights. By securing essential funding, small business owners can effectively address operational needs, invest in growth opportunities, and navigate through challenging times with confidence. Therefore, it is simply careless for small business owners to remain underfunded when a reliable and accessible source of capital such as LVRG Business Funding exists. Taking advantage of such a resource can not only mitigate financial strain but also foster sustainable growth and long-term success. By actively seeking growth opportunities and ensuring their financial readiness, small business owners can avoid these two significant mistakes that often hinder their progress. Proactive engagement in seeking growth, combined with sound financial preparedness, can set the stage for long-term success and sustainability in the competitive business landscape. - Charles M. Barr, CEO of LVRG Business Funding #businessgrowth #businessgrowthstrategy #businessadvisory #business

Personal and business credit scores are important indicators of how well you manage your finances overall and can determine whether your business receives the funding it needs to grow. Avoid these five actions that may impact your credit score: https://lnkd.in/gNSAQxTn #Synovus #getthere