by Angie Mohr on January 19th, 2008
I awoke this morning fueled by a solid three hours of sleep, not in my own cozy bed to the usual comforting aroma of coffee, but on a cement-hard dorm bed listening to the sounds of dozens of ten year old feet running up and down the hallway on the other side of my door.
Although it may not sound like fun to many of you, I am honored to be here. I am one of the parent chaperones for my son’s Grade 5 field trip to the JUMP program at Wilfrid Laurier University. JUMP is a 3-day educational program... Read more »
by Angie Mohr on January 14th, 2008
Debt. It’s the word many small business owners hate to hear. It’s a reality for most businesses to incur debt to finance operations, at least in the start up years. Although many small businesses are denied credit in the first few years, others have bankers and credit card companies begging for their business, especially those companies whose owners have substantial personal assets to attach.
I hear the following from small business owners every day:
"It doesn’t matter. I get to write it off."
"You can’t operate in this industry without a big line of credit."
"I need a corporate credit... Read more »
by Angie Mohr on January 14th, 2008
In part one of this article, "Managing Your Small Business Debt", we looked at debt service and the role it plays in your business’s finances. In this article, we’ll look at how you can calculate your cost of borrowing in order to save your business money.
Another useful measure of your company’s debt is to look at the overall cost of borrowing. Comparing the blended cost of borrowing over time tells you whether it is becoming more or less expensive for the company to acquire capital.
You may have financing from several different sources:
* Bank loans
* Lines of... Read more »
by Angie Mohr on January 4th, 2008
It’s the beginning of another new month, and it’s Groundhog Day. If the groundhog pops his furry little head out of his hole and sees his shadow, there will be six more weeks of winter. If it’s overcast and he doesn’t see his shadow, spring is around the corner.
How many of you small business owners out there feel like that groundhog? You think that the success or failure of your business is dependent upon environmental factors completely out of your control. If the government brings this tax break in, then you will be profitable. If that competitor sets up... Read more »
by Angie Mohr on January 4th, 2008
It’s the beginning of another new month, and it’s Groundhog Day. If the groundhog pops his furry little head out of his hole and sees his shadow, there will be six more weeks of winter. If it’s overcast and he doesn’t see his shadow, spring is around the corner.
How many of you small business owners out there feel like that groundhog? You think that the success or failure of your business is dependent upon environmental factors completely out of your control. If the government brings this tax break in, then you will be profitable. If that competitor sets up... Read more »