Interesting....
The San Francisco Examiner
sfexaminer.com
By: Tad DeHaven - Special to the Examiner
08/18/2011
Washington continues to entrust stale bureaucracies with the job of righting the economic ship, instead of getting the federal government out of the way. One of those bureaucracies is the Small Business Administration, which has been employed by Congress and President Barack Obama to reignite private-sector lending.
The SBA does this by guaranteeing loans issued by private lenders for up to 85 percent of losses in the event that loan recipients default. As a result of the guarantee, lenders are more willing to lend money to riskier applicants because the SBA - and thus taxpayers - is ultimately responsible for the bulk of any losses.
to read the full article... click here.
Friday, August 26, 2011
Thursday, August 25, 2011
Check out... Big Banks Shrinking As SBA Lenders
www.boss.blogs.nytimes.com
You're the Boss: The Art of Running aSmall Business
By: Robb Mandelbaum
08/10/2011
The Small Business Administration's guaranteed loan program is back. Nudged by stimulus provisions that reduced fees and increased guarantees, American banks made a record amounf of S.B.A. backed loans in 2010 (measured in dollars), reversing a demoralizing four-year slide. But there's something noteworthy about who was doing that lending: while banks as a whole loaned more government-backed money than ever, the biggest banks loaned less.
The 25 American banks with the most deposits in 2010 underwrote $3.6 billion in S.B.A. general business, or 7(a), loans. That is just 20 percent of all 7(a) loans approved that year, down nearly a third from the share these same banks loaned in 2006. The decline cannot be tied to a decline in deposits. In that same period, these banks grew to control $5.8 trillion in deposits, 61 percent of all bank deposits in 2010.
In other words, in 2010 the 25 biggest banks held 32 percent more in deposits than those banks did in 2006 - but approved 30 percent less in S.B.A. loans...
read the rest of the article... click here.
You're the Boss: The Art of Running aSmall Business
By: Robb Mandelbaum
08/10/2011
The Small Business Administration's guaranteed loan program is back. Nudged by stimulus provisions that reduced fees and increased guarantees, American banks made a record amounf of S.B.A. backed loans in 2010 (measured in dollars), reversing a demoralizing four-year slide. But there's something noteworthy about who was doing that lending: while banks as a whole loaned more government-backed money than ever, the biggest banks loaned less.
The 25 American banks with the most deposits in 2010 underwrote $3.6 billion in S.B.A. general business, or 7(a), loans. That is just 20 percent of all 7(a) loans approved that year, down nearly a third from the share these same banks loaned in 2006. The decline cannot be tied to a decline in deposits. In that same period, these banks grew to control $5.8 trillion in deposits, 61 percent of all bank deposits in 2010.
In other words, in 2010 the 25 biggest banks held 32 percent more in deposits than those banks did in 2006 - but approved 30 percent less in S.B.A. loans...
read the rest of the article... click here.
Thursday, August 18, 2011
Check out "Keep Your Bar Successful by Tracking Inventory."
"Hey bar owners, or those interested in being bar owners, check out this great article on tracking inventory..." - Larry
Tracking Inventory: A Profit Paper Trail
Nightclub & Bar (www.nightclub.com)
August 15, 2011
By: Robert Plotkin
To be financially successful, you need to know what inventory you have, how much you paid for it and exactly where it is at any point in time. Tracking products throughout your operation doesn't necessitate purchasing high-priced software. Instead, it requires implementing a series of overlapping internal systems that in concert track every product through the inventory cycle. In bookkeeping jargon, it's referred to as "cradle-to-grave" accounting. While uncomplicated, they key to the system is ensuring that all of the components are in place and being used properly.
To read the full article... click here.
Tracking Inventory: A Profit Paper Trail
Nightclub & Bar (www.nightclub.com)
August 15, 2011
By: Robert Plotkin
To be financially successful, you need to know what inventory you have, how much you paid for it and exactly where it is at any point in time. Tracking products throughout your operation doesn't necessitate purchasing high-priced software. Instead, it requires implementing a series of overlapping internal systems that in concert track every product through the inventory cycle. In bookkeeping jargon, it's referred to as "cradle-to-grave" accounting. While uncomplicated, they key to the system is ensuring that all of the components are in place and being used properly.
To read the full article... click here.
Friday, August 5, 2011
Want to know how to build repeat business in your bar.. check out this great article from Nightclub & Bar
Check out this great Editor's Blog from Nightclub & Bar on how to build repeat business?
Seven Steps to Building Repeat Business
By Robert Plotkin
August 2, 1011
Want to quickly double the volume of business you're currently doing at the bar? Gimmicks and slick promotional schemes won't get you there. The only tried-and-true way to accomplish your goal is to convert first-time visitors into regular clientele. Regulars create a sustainable residual income that you wouldn't have realized otherwise, often providing the financial boost needed to keep the doors open. Every operator likely shares the same ambition: to become a popular destination venue.
Building a loyal core of repeat guests depends entirely on doing a great job the first time those people come in; today's regular guest was yesterday's newbie. There are seven key steps to building repeat business.
To read the full article and find out what those seven steps are... click here.
Seven Steps to Building Repeat Business
By Robert Plotkin
August 2, 1011
Want to quickly double the volume of business you're currently doing at the bar? Gimmicks and slick promotional schemes won't get you there. The only tried-and-true way to accomplish your goal is to convert first-time visitors into regular clientele. Regulars create a sustainable residual income that you wouldn't have realized otherwise, often providing the financial boost needed to keep the doors open. Every operator likely shares the same ambition: to become a popular destination venue.
Building a loyal core of repeat guests depends entirely on doing a great job the first time those people come in; today's regular guest was yesterday's newbie. There are seven key steps to building repeat business.
To read the full article and find out what those seven steps are... click here.
Thursday, August 4, 2011
Check Out "Buying An Established Business"
Check out this great article by The Wall Street Journal... it aptly summarizes the reasons that purchasing an existing business is sometimes better...
By: Sarah E. Needleman
July 31, 2011
Accidential Entrepreneur, WSJ.com
Last year, Mark Shelstad set to become his own boss after concluding that his portfolio-manager job had become unstable. But instead of trying to build a company from the ground up, the Chicago-area resident began searching for an existing one he could buy.
"I didn't have a creative idea worthy of starting a business from scratch," says Mr. Shelstad, who is in his mid-50s. Also, "I wanted to get up and running quickly due to my age."
After a few months of research and negotiations, Mr. Shelstad earlier this month purchased a 23-year-old lending-fraud investigation firm, which he renamed Armitage Investigative Services. He used a combination of personal savings and a five-year loan form the seller to cover the purchase price of more than $1 million.
If you're interested in entrepreneurship, but lack ideas or time to create a new business, buying an established company may be a wise alternative. You'll inherit a working infrastructure complete with resources you'd otherwise have to secure on your own, such as equipment and employees. You'll also ideally be taking over a known brand built on a positive reputation over many year's time.
To read the full article... click here.
By: Sarah E. Needleman
July 31, 2011
Accidential Entrepreneur, WSJ.com
Last year, Mark Shelstad set to become his own boss after concluding that his portfolio-manager job had become unstable. But instead of trying to build a company from the ground up, the Chicago-area resident began searching for an existing one he could buy.
"I didn't have a creative idea worthy of starting a business from scratch," says Mr. Shelstad, who is in his mid-50s. Also, "I wanted to get up and running quickly due to my age."
After a few months of research and negotiations, Mr. Shelstad earlier this month purchased a 23-year-old lending-fraud investigation firm, which he renamed Armitage Investigative Services. He used a combination of personal savings and a five-year loan form the seller to cover the purchase price of more than $1 million.
If you're interested in entrepreneurship, but lack ideas or time to create a new business, buying an established company may be a wise alternative. You'll inherit a working infrastructure complete with resources you'd otherwise have to secure on your own, such as equipment and employees. You'll also ideally be taking over a known brand built on a positive reputation over many year's time.
To read the full article... click here.
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