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Posted by on May 8, 2020 in Small Business Tips | 0 comments

COVID-19 Financial Relief Resources for Your Small Business

COVID-19 Financial Relief Resources for Your Small Business

This post was contributed by our partners at Bench. If your small business has been impacted by COVID-19, you have financial options. From federal loans to local grants, here’s a walkthrough of available resources to help your business stay afloat.  For any loan or grant application, we recommend getting your 2019 bookkeeping and taxes completed. This will put you in the best position to secure funding, and be eligible for loan forgiveness where applicable.  Have any questions at all about financing, bookkeeping, or taxes? Reach out to Bench and learn more.  Federal government relief  Paycheck Protection Program Weren’t able to get funding during the first round of the Paycheck Protection Program? Good news: an additional $310 billion of funding has been approved by the federal government. This newly updated bill makes additional guarantees that at least $60 billion must be granted by small banks, community financial institutions, and credit unions to ensure that truly small, local businesses get a chance at funding.  The highlights:  The funding is meant to...

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Posted by on Apr 15, 2020 in Small Business Tips | 0 comments

4 Steps to Getting Your Business Through COVID-19

4 Steps to Getting Your Business Through COVID-19

Our partners at Bench are here with some action items that you can implement right now to help your small business confidently face whatever comes next. With the effects of COVID-19 rippling through the economy, it’s easy to feel overwhelmed. Many businesses are being forced to shut their doors temporarily. What should you do first? How can you protect your finances in a volatile economy? 1. Understand your business’ current financial position It’s always a good idea to have a handle on your numbers, but this becomes doubly important during times of economic uncertainty.  A clear understanding of your company’s financial position lets you immediately see where you can cut costs, what expenses you can justify, and what debts might need to be renegotiated or deferred. Evaluate current assets and loans and see what can be leveraged during this time.  A clear understanding of your company’s financial position lets you immediately see where you can cut costs, what expenses you can justify, and what debts might need to be...

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Posted by on Mar 31, 2020 in Small Business Tips | 0 comments

Everything You Need to Know About the New Tax Deadline

Everything You Need to Know About the New Tax Deadline

What the New Tax Deadline Means for Your Refund, Who It Applies To, and More  April 15th is synonymous with one thing for most Americans: taxes. This day marks the typical deadline to file (and pay) income taxes for the majority of individuals and businesses. But things are a little different this year. In light of the global outbreak of COVID-19, the IRS recently announced that the deadline for filing 2019 taxes and tax payments has officially been extended to July 15th, 2020. This change marks a 90-day extension to file income taxes.  Of course, the most important thing to know about the deadline change is that individuals and small business owners now have until July 15th to file and pay their taxes. But who does this extension apply to? What does this mean for refunds?  A change like this can spark a lot of questions. That’s why we’re answering some of your most pressing questions about the new tax deadline below.   Who does the new tax deadline apply...

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Posted by on Nov 26, 2018 in Productivity 101, Small Business Tips | 0 comments

Give Yourself The Gift Of Early Tax Preparation This Holiday Season

Give Yourself The Gift Of Early Tax Preparation This Holiday Season

The holidays bring many welcome sights like turkey, gravy, mashed potatoes, presents, and family and friends. But for those in financial services, it also signals that the most hectic time of their year is fast approaching; tax season. Whether you’re preparing for tax season as an individual, or a professional that’s going to file on behalf of clients, a wave of paperwork is headed your way. One of the most helpful tips, for everyone involved, is to get moving quickly: “Get your paperwork to your tax preparer early…February is fantastic. March, especially the first half, is fine. But…if you give your material to your tax preparer on April 1, don’t be upset if you end up having to file an extension.” Far too often, we like to think that we’re the center of the universe, and the world will move at our pace once we’re ready to get started. That’s hardly ever true, and especially so for tax preparers. They have multiple clients, all expecting the same services, who...

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Posted by on Jun 22, 2018 in Small Business Tips | 0 comments

How You Can Increase Customer Retention in Your Small Business

How You Can Increase Customer Retention in Your Small Business

Running a small business can be quite difficult, especially if you are running it by yourself and you haven’t had much experience. There are a lot of things that you’ll need to think about and customer retention is one of these. Running a business is not just about getting new customers and reaching out, you need to keep the customers that you have and make them want to purchase from you again. Fortunately, there are plenty of ways to keep your existing customers like using feedback or business SMS texting so keep reading this article to find out some of these. Create A Loyalty Program One of the best ways that you can reach out to your customers and encourage them to come back is to introduce a loyalty program. There are so many ways that you can do this from investing in some loyalty cards or using an online programme that will help you out. If you run something like a coffee shop, this can be as easy...

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Posted by on Mar 27, 2018 in Small Business Tips | 0 comments

Targeted Marketing Campaigns Done Right for Small Business Owners

Targeted Marketing Campaigns Done Right for Small Business Owners

What is targeted marketing? Targeted marketing is an approach that increases the likelihood of reaching the right audience for your brand. A campaign of this type identifies the demographics like to buy your products or services, and promotes your business directly to them. Identifying the specific groups that you want to cater to enables you to create a strategy that will directly appeal to them, in order to boost brand recognition, interaction, and eventually, sales. Marketing campaigns, as well as specific products or services, will then be created solely for these audience segments. Who uses targeted marketing nowadays? Brands that use the targeted marketing approach are usually those that offer specialized products or services. These products and services usually don’t belong to your typical “need” so convincing consumers to spend money on them would be a challenge. Your favorite coffee shop chain, for example, can be classified as a business that offers specialized products. It’s because there are cheaper alternatives if you’re just looking for a caffeine fix. That’s...

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