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5 Common Finance Mistakes to Avoid for Small Businesses

Strategy Driven

Ignoring Your Business Credit Score. Like your personal credit score, your business credit score is an instant indicator to lenders and investors of how well you manage your business finances. It’s important to maintain a great business credit score so you can have another option for funding your business.

Finance 75
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How Credit Card Companies Make Their Money

Strategy Driven

In addition, keeping a balance of over 10% of your credit limit tends to weigh heavily on your credit score. Another common tactic that credit companies employ is appealing to potential card holders with an initially low rate, which then balloons into a far more severe figure after the initial enlistment period ends.

Company 50
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Can Lending Technology Revive America???s Small Businesses?

Harvard Business Review

Financial crises hit sources of collateral like real estate particularly hard, and this has negatively impacted smaller firms credit scores. In fact, we may be seeing a technology disruption in small business lending along the lines of what weve seen over the last few decades in industries like travel and media.

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How CMOs and CROs Can Be Allies

Harvard Business Review

CROs are deeply familiar with the troves of risk data, such as payment habits and internal credit scores, that their companies keep. News travels fast in the age of digital, which raises the stakes not just for blunders but for everyday business activities. Use risk data as an avenue for innovation. Cross-pollinate your talent.

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How Blockchain Could Help Emerging Markets Leap Ahead

Harvard Business Review

Educational records, business histories, health care information, and credit ratings could all be made usable the world over, helping those who want to trade or travel to prove their credentials.