In the ever-evolving landscape of business financing, crowdfunding has emerged as an innovative and compelling option for entrepreneurs and small business owners. Crowdfunding to raise capital involves reaching out to a broad audience, often through online platforms, to secure funding for business ideas, projects, or products. But can it truly benefit your business, and is it a viable option to explore?

If you own a small business, hiring a family member is the same as hiring any other person — with a couple of important exceptions. When you employ your children or even your parents, you might be eligible for significant federal tax benefits. Once you’ve familiarized yourself with all the available perks, you’ll be ready to take full advantage of the ones you qualify for when tax time arrives.

First Bank of the Lake is deeply committed to serving the financial needs of veterans, recognizing their unique contributions to our economy. We go the extra mile to...

One crucial element that can significantly impact your business’s financial standing is credit. Just as individuals rely on personal credit scores, businesses need to establish and maintain strong credit to access financing, secure favorable terms, and build trust with partners and suppliers. In this article, we’ll explore four methods to build business credit.

In the world of small business, one crucial aspect that often gets overlooked is inventory management. Properly managing your inventory can have a major impact on your bottom line, cash flow, and overall business success. In this article, we’ll explore the fundamentals of inventory management, why it’s essential, and methods you can apply to keep your business financially healthy.

Transitioning from military service to civilian life can be an intimidating experience. Veterans often face challenges starting businesses and securing funding for their...

Welcome to the realm of Small Business Administration (SBA) financing, where a bank lender acts as your guide through this chilling journey. Here are 5 key components of SBA business loans that will send shivers down your entrepreneurial spine:

A healthy business must have a thriving customer base that provides stability as a major revenue driver. In fact, Harvard Business Review found that it’s easier and less costly to retain existing customers who already know your brand and your products or services than to acquire new customers. To have an effective customer retention approach, though, you need to make sure that your company considers these guidelines.

Successfully owning and operating a business comes down to preparation and follow-through. One area you may not be considering when you’re building your company is what happens if you or another part owner dies or becomes incapacitated. These and other scenarios are covered by what’s known as a buy-sell agreement, which is an essential tool for protecting your business in the long run.