Invoice Factoring Basics

Writen by Marco Terry

Can't afford to wait 30 to 60 days to get paid by your clients? If you are like most business owners, waiting to be paid can be very challenging. In some cases it can mean lost opportunities. It can mean that you don't bid for big sales because you know you won't be able to play the waiting game. At its worst, it can spell disaster. It can mean that you need to delay payroll. It may mean that you don't pay rent or taxes. It may force you to shut down your business.

If you are like most business owners, your first reaction will be to call your banker. Unfortunately, banks will not lend money to businesses that are new, have no hard assets or don't have three years worth of profitable financial statements. At this point, most business owners give up, thinking that they don't have any other options. However, they do.

If your company sells products or services to large credit worthy companies, you could qualify for invoice factoring financing. Invoice factoring reduces the time it takes for you to get your money to one day. How quickly could you grow your business if your invoices were paid in 24 hours?

As opposed to bank loans, factoring companies do not require hard collateral. The only requirement is that you have invoices form credit worthy clients. Factoring companies work differently than banks. A factoring company will provide you with financing based specifically on your invoices. This means that if your invoicing grows, your financing also grows.

Factoring is very simple:

1. You generate invoices for your products or services

2. You submit the invoices to your clients and to the factoring company

3. The factoring company advances you up to 85% of the gross value of your invoices (the remaining is kept as a reserve to offset disputes)

4. Once the invoice is paid by your client, the factoring company releases the 15% reserve and charges their fee

Factoring financing is easy to qualify for and can virtually eliminate the 30 to 60 days it takes for your customers to pay. It provides you with the necessary working capital to grow your company and take new opportunities.

About Commercial Capital LLC

Need to receivables factoring? We can provide you with a factoring, invoice factoring or accounts receivable factoring quote for free. Marco Terry, the president, can be reached at (866) 730 1922

Copyright (C) Commercial Capital LLC - Article may be reprinted if not modified and if all links are kept live.

Eight Basic Office Requirements

Writen by Jo Ann Joy

Your business is a success, and you cannot keep up with the work unless you hire at least two more employees. You have probably been very busy and focused on starting up and growing the business. You may not be ready to be your company's human resource manager. The following are a few suggestions that can help you be prepared:

All prospective employees must fill out an Employment Application that includes basic information such as name, address, phone number, social security number, citizenship, past job history, job titles, key responsibilities, salary history, reasons for leaving the previous positions, and education through high school, college, post graduate work, and any special schooling. The application must include a paragraph that states that all statements made by the applicant are true and that the application does not constitute a contract between the applicant and the company. Lastly, the applicant should sign and date the application.

Each applicant should sign a release form that allows you to contact his or her references and former employers, and the release should state that the applicant will not start any legal action concerning any information you obtain while checking references. checks. Mail or fax a copy of the release to any references or former employers, and they will be more likely to give you complete and correct information.

Before you hire any new employees, write an employee handbook that includes information on retirement or pension accounts, insurance benefits, vacation and sick leave days, holiday schedule, performance reviews and pay increases, office conduct and dress code, personal use of email, fax, or other office equipment, and termination procedures. Place a copy of the handbook in a central location and give someone the responsibility of making sure it stays there and is updated whenever necessary.

Your state probably requires you to carry Worker's Compensation Insurance for employees that are injured on the job. Most states have an agency that regulates Worker's Compensation, and in my state it is called the Industrial Commission. Check with you state to find out the requirements and ask for suggestions for an insurance carrier.

Set up a procedure for each new employee and the date on which all elements of the procedure should be completed. For the most part, new employees should complete all of the following paperwork on the first day:

>> Have employees read and sign a receipt indicating that they have read the handbook.

>> Each employee must complete the IRS W-4 Form used to determine tax withholding.

>> Employees should sign up for any benefit programs and provide all necessary information in order to participate in insurance, retirement, or pension plans.

>> Each new employee should sign an agreement stipulating that all proprietary information will remain confidential and that the company owns all inventions or new processes created by the employee while employed by the company.

>> Employees should complete a personal information form that includes their address, phone numbers, names of immediate family, social security number, and emergency contacts' name, phone numbers, and address.

There are also certain posters that must be displayed in a central, prominent location:

>> The poster describing the terms of the minimum wages required by the Fair Labor Standards Act.

>> The poster describing the provisions of the Family and Medical Leave Act.

>> The OSHA (Occupational Safety and Health Administration poster that explains how workers may file a complaint, report an emergency, or seek OSHA advice.

>> The Equal Employment Opportunity Act poster that provides information concerning the laws and procedures for filing complaints of violations of the laws with the Office of Federal Contract Compliance Programs (OFCCP).

>> The Uniformed Services Employment and Reemployment Rights Act poster that strengthens veterans' reemployment rights.

This list will give you a start, but it is not intended to be all inclusive. It is strongly recommended that you review employment laws with your attorney. You can also find good advice on the internet and in libraries.

Jo Ann Joy, Esq., MBA, CEO Copyright 2006 Indigo Business Solutions. All rights reserved.

Discover the secrets to success.

About the author: Jo Ann Joy is the CEO and owner of Indigo Business Solutions, a legal and business consulting firm that is a "one stop shop" for small businesses. We offer both legal and business services. We provide all professional services that a business requires without being "referred out" to other professionals.

Jo Ann has a law degree, an MBA, and a degree in Economics. She is a strategic business attorney who works closely with businesses to greatly improve their chance of success. Her background includes commercial, corporate, contract and real estate law, accounting, financial planning, mortgages, marketing, product development, banking, and business planning and strategies. She ran a successful business for 10 years and has written and given presentations on many different legal, tax, and business subjects.

Please visit website for free articles and for business, legal, and tax advice. http://www.IndigoBusinessSolutions.net Phone: 602-663-7007; Fax: 602-324-7582

Retailers Are You Struggling To Create Endofseason Displays

Writen by Melanie McIntosh

I received an email recently that mentioned how difficult it is to create an inspiring display window at the end of a season.

Yes. It is difficult to come continually come up with new and inspiring ideas. Especially when you are not inspired yourself.

You're tired of the merchandise in your store that you have seen it every day for the past several weeks.

You're disappointed that a product you anticipated would be a hot seller, is still sitting on the shelves.

You're frustrated by the dwindling product selection, making it difficult to create a dynamic display.

You're attitude is like a virus. You don't realize it, but your customers will catch it.

You need to be excited by what you sell.

As a retailer, that is what you do. Your job is to present merchandise in a way that inspires and attracts. You need to make each product in your store desirable. You need to infect shoppers with your enthusiasm.

1. Change your perception.

Do you see that product sitting on the shelf as a leftover that no one wanted? Or is it an undiscovered gem that is waiting to be found by the right person?

You need to make that gem shine. You need to find that person who is looking for what you have to offer.

2. Present the product well.

It may be that the merchandise hasn't sold because of the presentation. Create a dazzling display with complimentary merchandise, if you can. Of course, that is part of the problem to begin with. It is hard to find enough merchandise that looks good together when some of it has sold.

Maybe one product, featured on its own, can make a strong display. With great signage and great lighting it could work very well.

Instead of other merchandise, perhaps you can find props that would help tell a story with your product.

There are lots of options - the trick is to get creative. Which brings us to the next point.

3. Get inspired. Look for new ideas.

It's easy to get tired of dealing with the same space and merchandise day in and day out. It can get hard to come up with new ideas.

It's time for YOU to go out shopping. Shopping for ideas. Take a walk at lunch, or after work. Take a look at what other stores are doing. What is new and exciting? What colours are being used?

Browse some magazines. How are products arranged for ads? What trends are you seeing?

It is part of your job to stay in touch with what is happening around you. Really, that is what you are selling - not just a product, but an idea. You're selling a feeling, a mood that your product embodies.

You need to be inspired to inspire your customers.

4. Get something new. Fast.

When I worked in retail stores, I learned that one of the best things you can do to keep customers engaged is to always have something new arriving.

Don't just buy all your merchandise a few times a year. Keep a few new things coming in every few weeks. This is especially true for any kind of fashion merchandise.

5. Move the old stuff out.

You need to turn merchandise quickly. Product that hangs on the rack, or sits on the shelf, is money that could be re-invested in something new.

Put the merchandise in a prominent position. Mark it down. Create a sales contest or special promotion.

Just do whatever you have to do to move the old product out.

The worst thing you can do is to allow yourself to lose motivation at the end of the season. Don't just move the products you are tired of to a corner and forget about them.

Instead, get excited about what you have to offer. Your customers will sense it and feel the same. Better yet - throw a party and invite them to join you!"

Melanie McIntosh is a retail consultant and owner of Inspire Retail Solutions. She helps independent retailers who are struggling to attract customers because they need to improve their merchandising and visual identity. Is your store appearance actually turning customers away? Find out more here: http://www.inspire.bc.ca Subscribe FREE to Retail Tips http://www.inspire.bc.ca/RetailTips.html