8 Tips for Finding and Buying a Profitable Business It’s no secret that starting a new business is hard work, and many aspiring business owners can face challenges throughout the process. According to the U.S. Bureau of Labor Statistics (BLS), about 30% of new businesses fail within the first two years, 50% within the first five years, and 70% within the first 10 years. … Read More
8 Programas de Financiamiento Para Ayudar a Que Crezcan Negocios Propiedad de Minorías ¿Sabía que los negocios propiedad de personas afroamericanas son los menos propensos^ a recibir financiamiento? En comparación, el 40% de los negocios propiedad de personas americanas blancas recibieron todo el financiamiento que solicitaron en comparación al 31% de negocios propiedad de personas asiáticas, el 20% de negocios propiedad de personas hispanas y solo el 13%… Read More
Putting the Bold in Business: 6 Companies Shaping Their Own Success It’s no secret small businesses are the heartbeat of our economy. That’s why FirstBank launched a new video series aptly named “It Takes Courage”— a phrase encompassing the audacity it takes to build a construction business from scratch or start a successful string of restaurant concepts. In these videos, you’ll see how dedication, family support,… Read More
Unlock Tax Savings: How a 1031 Exchange Can Transform Your Real Estate Strategy According to the Federation of Exchange Accommodators, an estimated $100 billion worth of real estate assets were exchanged through 1031 Exchanges in 2019. While this figure can vary each year depending on the economy, it’s apparent why so many real estate investors and businesses are taking advantage of this tax incentive. Here’s what you need… Read More
4 Tips for Navigating the Business Loan Application Process 59% of small businesses report not having enough capital to grow or sustain their business, according to the Federal Reserve Banks’ Small Business Credit Survey. Moreover, the knowledge gap about small business loans and financing has made it even harder to set your business up for success. While some sources may give new borrowers the… Read More
8 Financing Programs to Help Minority-Owned Businesses Grow Did you know that Black-owned businesses are least likely to receive funding? Comparatively, 40% of white-owned firms received all of the financing they sought, compared to 31% of Asian-owned firms, 20% of Hispanic-owned, and only 13% of Black-owned firms. Fortunately, many organizations and opportunities are working to fix this gap and elevate minority-owned businesses. Here… Read More
4 Ways to Find the Value of Your Business Did you know 98% of small business owners don’t know the value of their company? If you’re thinking about selling or have an interested buyer, understanding the value of your business is important when negotiating the best possible deal. Here are four ways you can calculate your business’s value. 1. Asset-based method. The asset-based method… Read More
Western Roofing Goes Beyond Roof Repairs to Support its Community Western Roofing breaks the status quo of your typical roofing company. The longtime commercial roofing business prioritizes community support, customer service, and quality over quick gains. We caught up with Curtis Nicholson, Western Roofing President, to uncover why “doing good” can actually do a business good. 1. Briefly describe your business (what does it provide,… Read More
See How Your Small Business Can Win $5,000 and Promotional Support In partnership with the Phoenix Suns, FirstBank is hosting the return of the Small Business Empowerment Awards. This season-long program is designed to strengthen underserved and minority-owned businesses across the Valley, through financial and promotional support. What are the Small Business Empowerment Awards? What are the six categories and nomination periods? Visit suns.com/empowerment to learn… Read More
8 Consejos Para Buscar y Adquirir Un Negocio Rentable No es ningún misterio que poner en marcha un negocio nuevo es una labor difícil, y muchos aspirantes a convertirse en emprendedores pueden enfrentarse a dificultades a lo largo del proceso. Según el U.S. Bureau of Labor Statistics (BLS)^, el 20% de los negocios nuevos fracasan en los primeros dos años, el 45% en los… Read More