Helping Businesses Grow & Succeed
The Federal Reserve launched the Main Street Lending Program several months ago and recently extended the program to Dec. 31. The MSLP, part of the coronavirus relief law known as the CARES Act, offers five-year loans of $250,000 to $300 million. The loan program is aimed at larger small businesses […]
What a difference a year makes. Going into Labor Day weekend 2019, many small businesses in South Florida were looking to close out the year strong and budget for a growth year ahead. They were hiring in a tight labor market, with the unemployment rate hovering below 4%, and they […]
In the best of times, customer retention is critical to small business success. But these days, with marketing dollars being slashed and customer acquisition budgets going down the drain, it is more important than ever to hold onto your customers. Acquiring a new customer is five times more expensive than […]
This week, Michael McCann will be throwing open the doors of his popular Vacillate Wine and Beer Bar and welcoming customers in, adhering to the county’s list of Covid-19 guidelines as well as his own high safety standards. “We are so happy to be opening up,” said McCann, as he […]
More than one in five small business owners – 21% – say they will have to close permanently if economic conditions do not improve within six months, according to a survey conducted by the National Federation of Independent Business this month to assess the financial health of small businesses. About […]
This month on Growbiz, we have been looking at smart strategies for generating and managing your cash flow during this crisis. As we have pointed out, to effectively manage cash flow, you need to go line by line and dig deep in all the areas of the business – sales, […]
Ready to write your proposal for a government contracting opportunity? Florida SBDC at FIU assembled a group of experts to share some advice for small businesses – and war stories – about bidding for and winning government contracts, whether it is for local, state or federal work. Earlier this week, […]
It’s true that the government is still buying but does it need what you are selling? That is one of the first questions that small business owners who are interested in government contracting should ask themselves, says Orlando Espinosa, owner of Emineo Media, who recently hosted a webinar for Florida […]
The Paycheck Protection Program – a lifeline for small businesses – stopped taking applications on Aug. 8, and Congress is still fighting over the next stimulus bill as well as where remaining funds in the PPP program will be spent. The forgivable PPP loans were responsible for a “majority” of […]
Sometimes it takes a crisis to wake some small businesses up to the importance of healthy cash flow, says Raju Mohandas, a certified business consultant for Florida SBDC at FIU. But now that we have your attention … To effectively manage cash flow, you need to go line by line and […]