As you might have guessed, the “F” word that we are talking about is factoring. Once shunned by businesses and the finance industry, invoice factoring has become a valuable tool in maintaining cash flow and working capital. Often, companies find themselves to be asset rich but cash poor. While business is thriving, they have a… Continue Reading
Greetings Everyone. You may have noticed that this is the 60th edition of the Business Finance Corporation (BFC) newsletter. Five years ago, when I decided to start this newsletter, my goal was to provide valuable and useful information to our clients and friends, and of course, to keep my company name in front of… Continue Reading
When was the last time that you reviewed your employee manual? Does your manual have a section that explains what to do, who to call, and what to say in the event of an accident or crisis situation? More than likely, businesses that have been operating for five years or more have employee manuals… Continue Reading
Customer loyalty is perhaps the most cherished of all business acumen. Did you know that it costs five times as much to attract a new customer than to keep an existing one? The first rule of any business is to retain customers and build a loyal relationship with them and thereby avoid customer acquisition costs…. Continue Reading
Philanthropy has changed dramatically over the years. Early forms of charitable giving were influenced primarily by chief executive officers (CEOs) based on their philanthropic interests, and often had little to do with business strategy. They were fueled by a CEO’s desire to give back and their corporate giving typically addressed an issue of personal interest…. Continue Reading