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StreetShares Blog - The Resource Center for Veteran Small Businesses

StreetShares Blog

The Resource Center for Veteran Small Businesses

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Recent Posts

6 Ways to Invest Working Capital In Your Manufacturing Business

By StreetShares on April 24, 2018

A business line of credit can be a powerful tool when it comes to expanding or maintaining your manufacturing company. It gives you the freedom to make the investments you need to, when you need to, so that you can provide your customers with the products they need. Updates to tax laws have also made capital expenses even more attractive to businesses, providing further incentive to use the resources at hand to their fullest capacity. Here are some different ways you can use your working capital.

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Selling Goods & Services to the Government as a Small GovCon Business

By StreetShares on March 12, 2018

Did you know that the U.S. government spends more than $440 billion per year with small businesses ? Federal spending is at an all-time high making government contracting an extremely lucrative option for small and emerging business owners. While getting a pie of the government business sounds rewarding, it sure is a lengthy and bumpy process.

If you feel your product or service has what it takes to win a share of the government business and you are ready to take the plunge, here are five key practices you must keep in mind while selling to the federal government. Get the complete picture of government contracting in our ebook, "The Goverment Contractor's Handbook."

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Business Taxes: Everything You Need to Know*

By StreetShares on March 7, 2018

Taxes. Filing taxes for yourself can be complicated, but when filing taxes for your business, the
complexities can multiply. To make tax season hassle-free this year, you need to understand the regulations and deadlines. Here are five tips to avoid audits, claim more deductions and reduce overall small business tax headaches:

1. Record Everything

The healthiest thing you can do for your small business is to keep your books up-to-date, clean and accurate. Be sure to keep all of your receipts and preserve other important business documents. That way, you’ll not only be organized, you’ll be prepared in the case of any audits and be better equipped with the right files when claiming business expenses. If you use a bookkeeper make sure they're using the right cloud applications on your behalf – so your data is always accessible. That way you can breathe easy during tax season knowing that you are covered.

See also: Comparing Accounting Software Products for Your Small Business

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8 Reasons Every Business Owner MUST be a Pro at Managing Their Company Budget

By StreetShares on March 5, 2018

Of all the surprises and unpredictabilities that may happen in the lifespan of a business, the one area where a business owner should never be surprised is their business finances. It is astonishing how many business owners are guessing at the financial health of their company. Equally disturbing are the entrepreneurs who look at the company bank account and estimate how good they are doing because there is "money in the bank."

In business, just as in a personal budget, it's as simple as this: you have to know your cash flow like the back of your hand to truly understand your company profitability. Here are eight reasons why you should know your business finances. The life of your business depends on it. 

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8 Simple Tips to Help Small Business Government Contractors Succeed

By StreetShares on March 2, 2018

As a small business owner working as a government contractor, you’ve got a lot on your plate. You have to think about writing a great proposal, decide which RFPs to respond to, know trends in the market, stay up-to-date with trainings and changes with the Federal Government, network with other government-focused organizations and contracting officers, understand how account receivables financing, a factoring company or government contract financing works and much, much more. We’d like to arm you eight tips to help with your government contracting small business. Check them out below and in the video. Be sure to download "The Government Contractor's Handbook" for even more tips.

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How to Become a Subcontractor to a Prime Government Contractor

By StreetShares on February 27, 2018

Billions of dollars’ worth of government contracts are awarded to prime government contractors each year. Many of those prime contracts require the engagement of subcontractors. So, how do you become a subcontractor to a prime government contractor?

Let’s first make sure we are on the same page with the terminology we’re using and the steps to being a successful subcontractor to a prime government contractor.

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Spotlight Veteran Business: Q&A with Dr. Joni Johnson of Pediatric Partners

By StreetShares on February 26, 2018

February is Black History Month, also known as African American History Month. It’s an entire month dedicated to African American men and women who have made significant achievements and contributions to the American society. In honor of Black History Month, we’d like to recognize one of our African American veteran small business owners – Dr. Joni Johnson of Pediatric Partners for Attention and Learning, Inc.

Dr. Joni has a strong military background that has spanned more than 25 years. She has spent most of her medical career passionately advocating for military children and families as a physician both in the military and in private practice. She continues her military service as a Colonel with a local Combat Support Hospital and also as the Pediatric Consultant for the U.S. Army Reserves. Her final mobilization was the reason for contacting StreetShares for small business funding.

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7 Ways to Reduce Overhead Costs For Your Veteran-owned Small Business

By StreetShares on February 22, 2018
Having a veteran-owned small business can feel like a money pit. Whether you are paying invoices, fixing broken equipment or sending Uncle Sam his portion, you are always writing a check to someone. There are smart and simple ways that go a long ways towards reducing overhead costs that can add up to big savings in the long term. 

What are overhead costs? Those are the things you pay for so that you can do business. It includes rent, salaries, taxes, marketing, office supplies, cleaning service, equipment upkeep, utilities, travel, convention expenses – in short,  everything that is not directly billed to your customers. Minimizing these costs allows you to better allocate funds in your budget. For example, the $5,000 you saved per year by making a few tiny changes could go to buying more online ads to get acquire customers or to a raise for your hard working receptionist. Watching your pennies, especially in things that compound, will add major dollars to your bottom line. Knowing where your money is going can also help when looking for small business funding

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3 Pre-Award Acquisition Process Terms Government Contractors Should Know

By StreetShares on February 21, 2018

When working with government contracts, understanding some very specific phrases and terms is crucial to successfully navigating the process. Remembering all of these acronyms and definitions can feel like a full-time job for the upcoming government contractor.

With that in mind, we’ll define common phrases and acronyms you’ll see repeated as you research your point of entry into the govcon world.

Today we’ll go over three of the most common requests to contractors the government makes in the pre-award phase: Request for Information, Request for Quote, and Request for Proposal.  

 

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5 Inventory Management Hacks that Will Boost your Vet-owned Business

By StreetShares on February 20, 2018

For many servicemen coming into the private sector, manufacturing is a natural fit. Serving in the U.S. military requires the same rigorous attention to detail, results-oriented thinking, and action that makes raw materials into finished products and gets them out to customers all over the world. 

If your business revolves around manufacturing, supplying, or distribution, you know how rapidly these chains need to move in order to compete in a global economy. The problem that many businesses face is that they are so myopically focused on ingrained methods and simply trying to keep the lights on that they are unaware of ways they can economize, reorganize, and upgrade. This includes exploring business financing options such as the Patriot Express® Line of Credit.

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