Do you ever feel like you are trapped in the same day just like the movie Groundhogs Day from 1993? Too often we feel that our jobs are dictating everything we do and making ourselves miserable. We feel trapped in an unending pattern, feeling as though we are repeating Monday through Friday, week after week. Dreaming of Friday at 5 to come sooner rather than later. But as business owners, what can we do to make a happier workspace for everyone involved so that each day in the office is exciting and fresh?

There are countless studies out there that reveal that a happy work place could be the key to productivity and increased profits. But how can you achieve an office space that people are excited to come to work to every day? Too often people think that it takes money to make people happier. In fact, studies have shown that in terms of salaries, when an employee makes over a certain amount, more raises do not increase their happiness at work. Instead, companies that focus on the engagement factor and creating a place employees want to come to work every day find themselves more successful.

3 Quick Hits to Increase Workforce Happiness with a Working Capital Loan

When it comes to employee welfare things to increase productivity and happiness around the office do not have to be costly. In fact, they often can be free. But if you are looking to make a splash with your employees quickly, we can help you figured out how to get a working capital loan. This way, you have the funding you need to host some of these quick hit events, fast!

Establish a Bring Your Family to Work Day

The average employee spends more time with their co-workers than they do with their family. When you think about it, your co-workers often become some of your closest friends. But there will always be that separation. If you can allow your employees to bring their families for a day, whether this is their spouse, parents, or children, morale can go through the roof.

You have probably heard of bring your children to work day but not everyone has children. Instead of this option, make it a family day. Depending on your line of work, you may even allow your employee’s family to get creative when it comes to brainstorming new ideas.

Use the money you get from the working capital loan to set up an activity for everyone that includes lunch. Nothing has to be over the top but the little act of showing you care about life outside of the workplace can go a long way in terms of morale.

Offer Off Season Surprise Bonuses

When everyone thinks that bonuses only come at one point in the year, imagine employee morale when they could come at any point? We know this may require working capital loans to make it happen but it could prove far more valuable when it comes to the increased productivity of your employees.

Many businesses often see their sales drastically improve during the first quarter after annual raises and bonuses are released. Imagine if your employees worked that hard year-round because they never knew when bonuses were coming?

This is another reason why many businesses are doing away with annual performance reviews and promoting and rewarding throughout the year.

Paid Birthdays Off

Who doesn’t love to spend their birthday away from the office? In fact, many times your employees are often asking for their birthday off. Why not just give them a bonus vacation day for this specific purpose? If their birthday falls on a weekend, then let them use it on the Friday or Monday before or after.

You can even gift them a restaurant dinner to enjoy with their friends or family that night. This may seem expensive but this little bit can go a long way.

Birthdays are a great way to increase morale, make an impact with only a slight hit to your business’ working capital. Birthdays happen just like Groundhogs Day, once a year. If you have a team of 20 people, that is only 20 extra vacation days a year you are giving out but 20 days that increase your employee’s happiness and mental health the other 364.

Increasing workforce happiness is not just about making people happy. In fact, studies show that increasing workforce engagement is the key to retaining the talent you want and increasing productivity all around. As a business owner, you know the high cost of having to replace someone you value on your team. Don’t let the Groundhogs Day effect be the reason they left your business. The daily grind does not have to be repetitive, especially when people are happy. If you have ever seen Groundhog Day, you know that it took Bill Murray’s character almost the entire film to realize that happiness was the key to getting out of the loop.

Applying Lessons From Martin Luther King To Your Business—From Using Industry Sources To Finding Working Capital Loans

Martin Luther King Day celebrates the work and contributions of one of the country’s finest activists. His legacy of dogged perseverance as well as working to combat inequality through nonviolence are something that we can all be proud of. Not only that, but the legislation passed in the wake of the Civil Rights Movement that he was a major part of has led to a better and fair America for all people. When I talk about King as a role model for your business, it is this determination that you may think of as a defining trait. Yes, every businessperson needs to be a hard worker, and be willing to put passion into creating the finest product or service. Perhaps you want to use his empathy to be a better boss. Indeed, you would be hard-pressed to do better than King in this regard.

However, I would say that if there is one underrated trait of Martin Luther King Jr. that more business owners could stand to use, it would be the man’s ability to bring out the best in those around him. Because of the history of discrimination in the U.S., many of the central figures of the Civil Rights Movement did not have the resources that you think could propel something of its size. However, King and his contemporaries were both very shrewd and excellent at leveraging their passion for garnering hard-working volunteers and powerful allies.

Applying King’s Lessons To Business

It’s one thing to be hardworking and passionate, it’s another thing to channel that energy to the benefit of yourself and others. As a result, this Martin Luther King Jr. Day, we’re talking about making the best of the resources around you to succeed, even when things are hard. From working capital loans to the hidden skills of some of your best employees, there are many items around you designed to support your business into becoming all that it can be. Here are some of the things you may want to look for in the business community and beyond.

Free Knowledge

King and many other figures of the Civil Rights Movement were excellent at using what they had in terms of resources. Without much, they became a force for change and organize and empower others to do the same. As a business owner, one of the best things you can do is to seek out programs and resources. The government is a great place to start. Federal resources are about more than just grants. You may also be able to find knowledge both about your niche and other funding option. These could include microloans or working capital loans.

Sometimes you want something more hands on. A great option here is a business mentor. There are several programs out there that can connect small business owners to people in their niche. This insight can be invaluable if you are looking to navigate certain challenges. Best of all, these can sometimes be completely free!

Forging Connections

King was smart enough to know that for all his devotion, he could not achieve goals on the national level alone, or even with just the support of his community. To help him reach those goals, he became a master of strategic alliances. One of the best examples of this was his relationship with President Lyndon Johnson. Johnson was known for a tough approach to politics and for being shrewd. King’s many dialogues with him enabled some of the voter rights protections that were a major initial benefit of the Civil Rights movement. On the smaller level, he also made symbiotic alliances with local leaders, essential to reach some of the populations he was trying to motivate.

As a businessperson, you may find yourself in a situation where you can’t service every need. For example, a party planner will need a whole list of contacts to be effective at their job. You want different caterers, entertainers, and more in your contact list to provide your services effectively. Another example is a manufacturing company. On top of what they offer, they also need to work with suppliers to get materials. After completion of the final product, they need transport services to get their product out of the factory and to their destination. Always be open to talking to other businesses. Also, be sure to nurture relationships with them if you feel like you can help each other out.

Leadership

Above all, King was a leader in every sense of the word. You likely won’t be fighting the same forces he did to meet your goals. However, the odds may seem difficult, even insurmountable to succeed. One thing you can do to start is to not be afraid to mix up your approaches to get what you need. King tried out many different social activists measures, from boycotts to protests, to even using celebrities. In time, he found a mix of tactics that suited him best. Flexibility is great, just measure your risks.

Perhaps King’s greatest lesson to a business person is handling setbacks. Did you know that he was jailed 29 times just during his work in Birmingham? But he never faltered, understanding that adaptation was a natural part of the process. By communicating these feelings to those who worked with him, he had a team that always stayed motivated. Employees like that are a boss’s dream. Just realize that they are created, not born that way.

Part of being a leader is being able to use items outside the box to reach your goals. At eBusiness Funding, we offer alternative funding solutions that you can get within days. These working capital loans are an excellent option to continue to expand your business. Contact us today to learn more quickly.

3 Reasons Payroll Funding Can Help You with Your Restaurant’s New Year’s Party

New Year’s Eve is one of the biggest party days of the year. If your restaurant is planning on hosting an event, it will probably mean that you will need to hire extra staff. This could be for the planning and/or hosting of the event. Whether the party is a black tie affair, a themed evening, or a casual engagement – the staff you hire will be key. After all, your servers and entertainers are going to be what keeps people coming back year after year. But how can you afford to take on the extra staffing you ask? Payroll funding has you covered.

At eBusiness Funding, we know that it is not easy to spend money in advance. But when it comes to New Year’s Eve celebrations, now is the time to spend the money because you will make it back with a successful event. Payroll funding is key to helping restaurants around the holidays as they ramp up their staff to host successful events.

3 Reasons Why Payroll Funding Can Help This New Year’s

You Need to Spend Money to Make Money

The old saying about spending money has never been more true. You can’t expect customers to keep coming back year after year or even back to your restaurant if your party was a dud. eBusiness gives you the freedom to spend the money the way you want to without fear of being rejected because you plan to use it on something unapproved.

Success Can Last for Years to Come

We get you the cash you need fast! Meaning, you can book that raved about DJ or the extra waitress for the night. Once you have paid back 70% of the advance, you can renew for additional funding. We know as your ticket sales start to roll in the night of the party, you will receive a lot of the funds to pay us back but that doesn’t mean you won’t need additional cash to continue to grow your business. We make it easy to reapply.

No Risk to Not Being Able to Pay Your Staff

Have you ever had to look at one of your staff members and say you don’t have the money to pay them this week? It is not a conversation you want to have. That is why we have simplified the funding process. We can also get you the payroll funding you need fast because financing shouldn’t take months.

Let us help you never have to have the terrible conversation with your employee about not making payroll this week. With our payroll funding option, we have you covered. Whether you are ramping up your staff for the holidays or just had a rough month. Apply today!

Funding Expansion With A Business Cash Advance

Understanding The Business Cash Advance

A business cash advance is considered short-term funding focused on providing cash to small businesses. Other longer term loans generally relate to larger amounts of money. A business cash advance is not a traditional loan in the way you have come to understand bank loans. This is a funding option that is best defined as an arrangement where cash is provided to the small business in advance.  The funding is tied to the business’ average daily sales.

Why Would You Choose A Business Cash Advance Over A Traditional Loan?

A business cash advance is short-term funding to help a business get through different situations. Businesses take this quick funding with the understanding they will be repaying the funds in addition to specific fees. This can often cost more than a traditional business loan because of the fees and the return rate.

Approval for a business cash advance is quick and simple. After the approval takes place, for the provider usually takes a percentage of the business’s sales each day. A huge benefit to the fixed percentage retrieval of daily revenue is towards seasonal businesses. During the times when your business is not driving as many sales, the amount you pay back lowers as well, since it is a fixed percentage, not a fixed dollar.

A business cash advance is not for everyone. But for those who feel it is right for them and their type of business, it can pay off as you grow your business. The ability to get cash-in-hand quickly can make all the difference as you are starting out. You have the chance to have a provider look at the potential of your business, not the history. With the opportunity to focus on a payback schedule that matches your business, a business cash advance has its benefits.

Business Cash Advances for Expansion

This is key when the time comes to discuss expansion. When you expand, it’s not just a matter of picking a new location. You will need new equipment, new staff, and who knows what else may pop up during the process that requires your attention? While smart planning will help mitigate some of this randomness, the time will come where you may need funding quickly. This is where a business cash advance can save you.

Don’t make the mistake of thinking that a business cash advance is strictly an emergency funding tactic, though. You can also get one in anticipation of certain expenses. The nature of repayment means that you don’t have to worry about stacking large payments, and their accessibility means that you can get one even if you are lacking in credit or some of the other major loan criteria.

How Can I Begin?

eBusiness Funding helps businesses that may struggle with traditional lenders. To do this, we provide merchant cash advances. These are accessible to a wider spread of businesses than bank loans or private lenders. 95% of businesses that meet our simple requirements qualify for funding. All you need is to be in business for at least six months, with over $10,000 in monthly revenue. With us, it’s not about past credit history or collateral, but about your business’s potential.

It’s important to us that you use the funds we offer in the most helpful way possible. As a result, so we place no limit on how you spend our advances. Payroll, expansion, repairs, spend on what you need! We also get you your funds fast, sometimes as soon as 72 hours after you first apply. Repayment is also very simple. Rather than large monthly payments, we take a set part of your future sales. This is set up by our skilled consultants. This percentage stays the same, so if business slows down, you pay less.

Interested? All it takes to begin is filling out a simple contact form. We’ll be waiting, and are looking forward to helping your business get the funding support it needs.

The Top Sources of Business Working Capital

How Does Business Working Capital Work?

When it comes to having enough cash to operate your business model it can be hard, even more so when you are just starting out. Businesses looking to expand also find some of these same problems. All these aspects tie back into your business working capital. There are a lot of costs that new business owners often forget about, and they all stem from your business working capital in different ways.

Before you start looking for working capital lenders, you must understand the nature of capital. Business working capital is the funds available to your business to operate in the near future. This funding is generally cash on hand, or other assets that are easily liquidated. You can use working capital funding to help pay for equipment, supplies, and other day-to-day operations. You can also use working capital to cover shipping costs or pay for utility bills. Depending on your business and industry will determine you’re your working capital needs are.

Typically, business working capital funds are not designed for purchasing long-term assets or investing to grow your business. There are other lending options out there for long-term funding needs. This is important, as not demonstrating this knowledge to a lender may hurt your chances.

Business working capital loans are a specialized form of funding for small businesses. Unlike traditional small business loans, you can use the funding as you see fit to run your daily business operations. As you continue to grow your business and tie up capital into growing your business, you will still need cash for the daily operations. That is various lenders can step in and help.

Working Capital Struggles

Banks or other traditional lenders are looking for businesses that appear stable. Often needing working capital to run your business can make it appear that your business is unstable. However, this doesn’t reflect on your business in every situation. Not everyone has clients that pay them back on time. Some businesses have clients who are also waiting for clients to pay them back. In addition, you could just have bad luck. Perhaps you will find yourself in need of a quick cash infusion for something like a repair between the payments that support your cash flow.

Perhaps one of the biggest issues with business working capital woes is that it can be hard to get help for them. The same issues that you need funding for may hurt your chances of getting loans. As we just mentioned, banks want stable businesses. Sadly, working capital struggles are a black mark in many of their eyes. As they see it, if you can’t pay for the day-to-day struggles, how will you pay them back? This isn’t entirely fair, but other lenders are trying to meet the needs of these businesses.

Other Ways To Get Business Working Capital

eBusiness Funding helps businesses that may struggle with traditional lenders. To do this, we provide merchant cash advances that are accessible to a wider spread of businesses than bank loans or private lenders. 95% of businesses that meet our simple requirements qualify for funding. All you need is to be in business for at least six months, with over $10,000 in monthly revenue. With us, it’s not about past credit history or collateral, but about your business’s potential.

It’s important to us that you use the funds we offer in the most helpful way possible. As a result, so we place no limit on how you spend our advances. Payroll, expansion, repairs, spend on what you need! We also get you your funds fast, sometimes as soon as 72 hours after you first apply. Repayment is also very simple. Rather than large monthly payments, we take an set part of your future sales. This is set up by our skilled consultants. This percentage stays the same, so if business slows down, you pay less.

Interested? All it takes to begin is filling out a simple contact form. We’ll be waiting, and are looking forward to helping your business get the funding support it needs.

The Working Capital Ratio—Explained

The working capital ratio is a number that every business owner should know. Working capital ratios compare a business’s current assets to its liabilities. The ratio is important to figure out the liquidity of said business. This is important because liquid businesses can get cash on hand quickly if they need it.

When assets exceed liabilities, then a business has the capital to cover day-to-day operations. This means the business can function on its own.  Sounds simple? Maybe, but it’s also important to keep track of. You may want to find your ratio to see if you have enough capital to cover a purchase. Banks may want to know this number if your business is being evaluated for a loan.

Breaking Down The Numbers

Finding the working capital ratio for your business is easy. Simply divide your total current assets by your current liabilities. The number you get is your ratio. Assets include inventory, short-term investments, as well as cash. Liabilities include salaries, short-term debt, and taxes.

For example, a business with $3,000,000 in assets and $1,500,000 in liabilities would have a working capital ratio of 2.

The magic number in terms of ratios is 1. Any number above 1, means that the business in question can pay off its expenses with its assets. At 1, you’re breaking even, so the higher the better. Higher numbers mean you have more assets. With a ratio of 2, our business is doing quite well! This state is what is called positive working capital.

A working capital ratio lower than 1 is a problem, though. This is called negative working capital. It means that a business can’t cover its expenses with the current assets it has. If a business has a working capital ratio lower than 1 for a long time, it probably isn’t being run well.

Also, a company may get caught up in its success and grow too fast. As a result, it takes on a lot of expenses at once. Even if it’s making money, the asset growth doesn’t match. This leads to a low working capital ratio, and a potential nasty surprise for the business owner.

How Do You Fix A Poor Working Capital Ratio?

If you have a low working capital ratio, creditors and investors will be the first to notice. In their eyes, this is a huge red flag. Since your business can’t cover its expenses, they may think it’s having trouble. This could lead to banks denying you loans. Investors may also be slower to jump on board. If they think things aren’t organized, it could hurt your loan chances.

Working capital ratios aren’t perfect. Sometimes, they don’t tell the entire story. Companies that have the majority of their assets in inventory may have lower ratios but not be hurting. This is because those assets turn into cash slower than others. Businesses that are drawing down cash from a line of credit may have a similar issue. The reason here is that they don’t keep much cash on hand. This is rare, though. Low working capital ratios mean your business isn’t healthy in the eyes of many.

Using Merchant Cash Advances To Help

eBusiness Funding helps businesses that may struggle with traditional lenders. To do this, we provide merchant cash advances that are accessible to a wider spread of businesses than bank loans or private lenders. 95% of businesses that meet our simple requirements qualify for funding. All you need is to be in business for at least six months, with over $10,000 in monthly revenue. With us, it’s not about past credit history or collateral, but about your business’s potential.

It’s important to us that you use the funds we offer in the most helpful way possible, so we place no restrictions on how you spend our advances. Payroll, expansion, repairs, spend on what you need! We also get you your funds fast, sometimes as soon as 72 hours after you first apply. Repayment is also very simple. Rather than large monthly payments, we take an established percentage of your future sales. This is set up by our skilled consultants. This percentage stays the same, so if business slows down, you pay less.

Interested? If you’re ready to begin, all you need to do to start is fill out this simple contact form. We’ll be waiting, and are looking forward to helping your business get the funding support it needs.