How Social Consciousness Can Drive Financial Success

What do 29 unbanked borrowers, one small business owner, 22 investors, and an investment platform have in common? They are working to create a better world where their roles benefit not only themselves, but also one another. Nearly 18 months ago, a company called Quest Livery Leasing asked my investment platform to back its business. Quest Livery wanted to lease its fleet of vehicles to drivers working with services such as Lyft and Uber.

Spotlight

SpringSource

SpringSource builds Java infrastructure software which eliminates the complexity of enterprise Java. SpringSource created Spring, the de facto standard platform to build, run, and manage enterprise Java applications. SpringSource also employs the leading committers for Apache Tomcat and is the leading Tomcat support provider.

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Small Business Trends

Bridging B2B Gaps: MyTradeZone's Innovative Approach to Business Networking

Article | May 29, 2023

Become a member of MyTradeZone.com and build your permanent online booth showcasing your company profile, products, and services at the always-open networking event – it only takes minutes – the site is free to join. While social media demonstrates its prowess as a potent instrument for establishing connections with prospective clients and bolstering lead generation within the B2B sector, one vital challenge remains - the absence of a dedicated platform exclusively tailored for B2B enterprises. MyTradeZone has emerged as a guiding light within this domain, presenting a comprehensive solution customized to cater to the needs of B2B professionals and leaders. MyTradeZone's intelligent B2B search engine is your gateway to connect with other businesses to promote your products and services and to source products and services from suppliers. According to Forbes, 91% of small businesses used social media as a way of connecting with their market in 2021. A Gartner report also revealed that approximately 40% of B2B buyers use social media to help inform their purchasing decisions. Meanwhile, around 84% of C-level and VP-level buyers are influenced by social media when purchasing, according to International Data Group. However, despite the variegated benefits of social media, B2B players face significant hurdles when they lack a unified platform to conduct their operations. They lack a trade and social networking site for businesses. Without such a platform, they struggle to access the benefits that come with it, including: Difficulty in reaching niche audiences of professionals and businesses. Limited access to industry-specific products and services with insights and content. Struggles in fostering networking connections that actually count. Inability to personalize business content for improved and direct engagement. Challenges in utilizing specialized tools for effective lead generation. Concerns regarding data privacy and security. Dealing with overcrowded and chaotic digital spaces. Struggles in achieving measurable returns on investment directly aligned with business goals. Cost-effectively promoting their products & services, and generating leads. Taking advantage of emerging AI technology to do smart match-making. Furthermore, the costs and limitations of physical events exacerbate these challenges, such as: Participating in multiple physical trade shows and events at different locations is costly and often not feasible. This leads to missed opportunities for companies to reach potential prospects effectively. Networking opportunities at physical events are limited to the event's duration. The lack of a B2B creator ecosystem with monetization tools compounds these challenges. To address these challenges, B2B marketers often seek alternative approaches, such as an extensive exploration of various social media channels to reach and engage their target audience. Unfortunately, these efforts frequently fall short of achieving their desired results. In such a scenario, imagine the ease and convenience of having an innovative all-in-one solution readily available! MyTradeZone has emerged as a beacon in this space, offering a comprehensive solution tailored to B2B professionals. Here’s why it stands out: Targeted B2B Networking and Lead Generation MyTradeZone addresses the primary challenge of reaching a precise audience in the B2B sector. With its tailored approach, businesses can engage directly with other professionals, bypassing the clutter typically found on generic social media platforms. This precision in networking leads to more effective lead generation and relationship building. A Social Network Dedicated to Business One of the platform's strengths is its ability to provide users with access to social networking and collaboration tools specialized for B2B networking. Customizable and Intelligent Matchmaking The platform's AI-driven algorithms offer intelligent matchmaking and recommendations, aligning businesses with potential clients and partners who share similar interests and needs. This results in highly efficient and relevant connections. Monetization Opportunities for Creators MyTradeZone recognizes the importance of content creation in the B2B space. It empowers creators to monetize their work through peer-to-peer payments, creating a vibrant ecosystem for sharing valuable industry knowledge. Event and Trade Show Integration For trade associations and event organizers, MyTradeZone presents a unique opportunity to enhance their offerings. By integrating their events and trade shows into the platform, they can offer additional value to members and sponsors, extending networking opportunities beyond the limitations of physical event dates. Enhanced Data Privacy and Security In a world where data privacy and security are paramount, MyTradeZone places a strong emphasis on protecting its users' information. This commitment to security builds trust and credibility among its users. It enables users to exercise control over their privacy settings, allowing them to determine both the content that is displayed and the audience with whom it is shared. User-Friendly Interface and Tools The platform is designed with user-friendliness in mind. Businesses can easily establish a permanent profile, engage in discussions, manage groups, and utilize various tools for content sharing and collaboration. Provides a Unique Platform for Advertisers and Marketers MyTradeZone’s B2B search engine offers highly targeted – and – cost-effective advertisements to both buyers and sellers. Also, it provides a highly targeted audience with measurable metrics. Visionary Leadership Under the guidance of CEO and Chairman, Bachir Kassir, MyTradeZone leverages his extensive experience in the software and B2B industry to provide a platform that truly understands and meets the needs of its users. MyTradeZone.com also offers paid premium plans. You can see the details at https://mytradezone.com/pricing. For example, you can upgrade your listing from a free to Business Essential plan, and you can automatically have up to 10 keyword phrases of your choice where you company appear on the top of a search results. This alone worth trying the premium edition. MyTradeZone offers more than just a B2B social network; it provides a holistic solution for businesses looking to master the intricacies of the digital realm. With its focused approach, innovative features, and commitment to user experience, it stands as an indispensable tool for any B2B professional looking to make a mark in today's competitive environment. For additional inquiries, reach out to contact@mytradezone.com. Meanwhile, to stay updated on future platform improvements and promotions, connect with us at MyTradeZone.com. Scan the QR for more details.

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Technology

5 Tax-Related Resolutions for Smarter Small Business Accounting in 2020

Article | July 18, 2023

Accountants working with small businesses often play the role of business advisors, especially when it comes to educating their clients about tax regulations and reducing their tax bill by taking all legitimate factors into account. We’ve gathered four tips that accounting professionals can use as a check-list to give to their small and mid-size business owner clients looking to make better financial decisions this year.

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Business Strategy

7 BIGGEST ENTREPRENEURIAL MISTAKES

Article | June 2, 2023

This is the first post in a seven-part-series detailing the biggest entrepreneurial mistakes business owners make. The series will run over the next few weeks so check back to learn more. These are the 7 Biggest Mistakes I have seen entrepreneurs and companies make that can devalue their Intellectual Property (“IP”) portfolio, damage their brand, or sink a deal. If you are considering turning your idea into a business, read this carefully first. There are other mistakes you can make, but these are the deal-breakers. Any one of these can cost you big bucks, credibility in the eyes of investors and potential partners, and ultimately lead to evaporation of the value of your idea.

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How to Report Revenue on a Small-Business Credit Card Application

Article | February 10, 2020

When filling out the “revenue” portion of a small-business credit card application, you want to make your small business or side hustle look its very best without stretching the truth. But revenue can swing dramatically from year to year, and credit card applications often don’t spell out what you should or shouldn’t include when reporting it. So what counts as an honest, just-the-facts answer? Generally, in credit card applications, issuers want to know your verifiable gross revenue from the previous year.

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Spotlight

SpringSource

SpringSource builds Java infrastructure software which eliminates the complexity of enterprise Java. SpringSource created Spring, the de facto standard platform to build, run, and manage enterprise Java applications. SpringSource also employs the leading committers for Apache Tomcat and is the leading Tomcat support provider.

Related News

Finance

National Funding Announces Strategic Growth Investment in Finova Capital

National Funding | March 24, 2022

National Funding, Inc., one of the largest U.S. specialty finance companies serving small- and medium-sized businesses, announced it has made a strategic growth investment in Finova Capital, a business lender focused on merchant finance and the payments industry. National Funding’s significant investment in Finova comes on the heels of market momentum for both financial services companies. Finova Capital will continue to operate as an independent business unit with its current leadership and platform. Finova Capital’s suite of products complements and expands National Funding’s small business loan and working capital funding offerings. With its combined 50+ years of experience in financing and merchant acquiring and one million merchants served, Finova Capital primarily supports ISOs, processors, and POS equipment manufacturers. In addition, it works with partners to build leasing programs that allow merchants to conserve capital while accessing the latest technology. Finova Capital’s suite of services includes point of sale (POS) equipment financing solutions, working capital loans, term loans, and merchant cash advances. “Our significant investment in Finova Capital supports our vision of providing whatever products it takes to help small businesses to succeed. Finova’s leaders mirror National Funding’s commitment to modern technology and trusted relationships, and we are pleased to provide access to banking and liquidity opportunities to support its growth.” National Funding CEO Dave Gilbert “The Finova team greatly appreciates Dave Gilbert’s vote of confidence in our business model, business philosophy, and leadership team. The National Funding investment will allow us to focus on continuous product and platform enhancements that we believe will result in significant value for our merchant clients and referral partners,” said Finova CEO Bob Neagle. About Finova Capital Finova Capital is a new kind of merchant finance partner. The company is backed by decades of experience and is dedicated to transparency and acquirer growth. Founded in New Jersey by best-in-industry merchant finance experts and powered by retention-focused products and acquirer-enabling technology, Finova is quickly building relationships where acquirers and merchants all win. About National Funding, Inc. Founded in 1999, National Funding is a leading U.S. specialty finance company serving small- and medium-sized businesses. The Company’s foundation serves American small business owners by providing funding solutions to meet their needs to reinvest in their day-to-day operations and help them grow. National Funding has provided more than $4.5 billion in working capital and equipment leasing for more than 80,000 small- to medium-sized businesses nationwide. In addition, National Funding’s digital funding process has elevated its digital capabilities by delivering a fast and simple online application.

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Finance

Nav Introduces the Launch of Instant Financing

Nav Inc. | February 10, 2022

Nav Technologies, Inc. announced an extension of its partnership with Enova SMB, which comprises OnDeck and Headway Capital, two small business financing brands from Enova International. Nav Technologies, Inc is a simple and intelligent finance platform that simplifies the process of comparing financing choices for small businesses. The partnership enables Nav to be the first two-sided, open marketplace to significantly simplify capital access by allowing eligible consumers access to fast lines of credit with money accessible as soon as the following business day*. Through its partnership with Enova SMB, Nav is the only platform that can combine customer business data with its network of lender relationships to provide instant financing, making it easier than ever for qualified small businesses to access capital. “Until now, small businesses were left victim to the highest bidding lender on Google or led to blindly accept the one option presented by a closed system provider. By capturing the customer data lenders need in advance, Nav is uniquely positioned to provide access to the first instant financing offers in an open environment. This means small business owners can now evaluate loan options with more certainty and confidence.” Walt Levengood, Nav VP of Sales and Business Development Nav will continue to innovate, enabling small companies to evaluate options and confidently select the best solution for their requirements. Nav has helped over 1.4 million small companies get the best financing solutions based on real-time company data. Jim Granat, Head of Enova SMB stated, “We are thrilled to partner with Nav to enable small businesses to easily compare loan options and, ultimately, help more small businesses achieve their goals with fast, flexible and transparent funding.”

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Finance

FundThrough Acquires BlueVine’s Invoice Factoring Business

FundThrough | January 14, 2022

FundThrough, a financial technology platform that solves cash flow challenges for growing businesses through fast invoice payments, today announced that it has acquired the invoice factoring business of financial technology company BlueVine. The acquisition fast tracks the company’s strategic focus on embedded finance and its expansion efforts in the U.S. market, doubling the number of U.S. clients that will rely on FundThrough to turn unpaid invoices into working capital. All BlueVine invoice funding division employees are joining FundThrough as part of the transaction. FundThrough has grown 1,071% over the past three years and almost 300% since last year, funding thousands of B2B clients since the company was founded in 2014. The fintech company has scaled to process more than USD$120 million dollars in funding per month while being extremely capital efficient, having only raised $25 million dollars in equity since its inception. The acquisition is expected to more than double the number of funding transactions that FundThrough makes annually. Cash flow is the number one problem facing small businesses. According to QuickBooks data, 81% of surveyed businesses said that their customers had been late on their payments more often in 2021 compared to previous years, and 89% said late payments limit their growth. According to FundThrough client data, small businesses wait 60 days on average for customers to pay their invoices. FundThrough addresses this issue through its AI-powered funding platform, which generates automated offers for a seamless onboarding and funding experience. Through its technology, along with key partnerships with companies such as Intuit and Enverus, FundThrough cuts that waiting time by 97 percent to accelerate access to cash flow for small businesses. “We are committed to helping small businesses grow and thrive – especially those who sell to large customers where long payment terms and a lack of financing options stand in the way of growing a business. BlueVine was one of our biggest competitors in the U.S. market, and through this acquisition we can fulfill our mission on a much larger scale. We look forward to providing BlueVine’s invoice factoring clients with the same responsive, personalized customer service and seamless funding experience that FundThrough’s existing clients rely on and appreciate.” Steven Uster, co-founder and CEO of FundThrough In addition to accelerating its U.S. expansion, the acquisition also rapidly progresses another core FundThrough strategy: becoming the leader in embedded finance. The additional scale from new channel partnerships and relationships acquired through BlueVine — including all BlueVine factoring partners, who have now transitioned to FundThrough — will fuel FundThrough’s goal of being included within the workflow of B2B marketplaces, ecosystems, and apps where suppliers can request instant payment of their large customer invoices without leaving the workflow. This gives suppliers more opportunities to boost their cash flow, and levels the playing field for small businesses selling to large, powerful customers who often dictate long payment terms. Based in Redwood, California, BlueVine provides financial services to small and mid-sized businesses. The company addresses the banking and working capital needs of business owners with a suite of products including BlueVine Business Checking, Payments, and Line of Credit. Factoring was BlueVine’s founding product. “Since launching BlueVine, we’ve been focused on the financial needs of small businesses and are very proud of what we’ve been able to accomplish. As we evolve our products and services, we continuously examine how we can better serve our customers at scale,” says Eyal Lifsthiz, co-founder and CEO of BlueVine. “We determined that FundThrough is perfectly positioned to serve our factoring clients with the care and individual attention they need and deserve. Our factoring clients will be in great hands with FundThrough.” About FundThrough FundThrough is a leading fintech company accelerating cash flow and enabling growth for small and medium sized businesses that sell to large customers and wait to get paid. Based in Toronto and operating across North America, FundThrough’s AI-powered invoice funding platform gives B2B businesses fast, customized funding offers to get their invoices paid in a few days – rather than a few months – and get quick access to cash they’ve already earned. About BlueVine BlueVine provides small and medium-sized businesses with fast and simple access to financial services built with them in mind. BlueVine’s advanced online platform offers an intuitive, convenient solution designed to meet the banking and working capital needs of today’s business owners with a suite of products including BlueVine Business Checking, Payments, and Line of Credit. Based in Redwood City, California, BlueVine has provided small and medium-sized businesses with access to more than $14 billion in financing with all products combined and is backed by leading private and institutional investors, including Lightspeed Venture Partners, Menlo Ventures, 83North, Citi Ventures, ION Crossover Partners, SVB Capital, Nationwide Insurance, and M12 (Microsoft's Venture Arm). All lines of credit and term loan products are issued by Celtic Bank, a Utah-chartered Industrial Bank, Member FDIC. Banking Services provided by Coastal Community Bank, Member FDIC.

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Finance

National Funding Announces Strategic Growth Investment in Finova Capital

National Funding | March 24, 2022

National Funding, Inc., one of the largest U.S. specialty finance companies serving small- and medium-sized businesses, announced it has made a strategic growth investment in Finova Capital, a business lender focused on merchant finance and the payments industry. National Funding’s significant investment in Finova comes on the heels of market momentum for both financial services companies. Finova Capital will continue to operate as an independent business unit with its current leadership and platform. Finova Capital’s suite of products complements and expands National Funding’s small business loan and working capital funding offerings. With its combined 50+ years of experience in financing and merchant acquiring and one million merchants served, Finova Capital primarily supports ISOs, processors, and POS equipment manufacturers. In addition, it works with partners to build leasing programs that allow merchants to conserve capital while accessing the latest technology. Finova Capital’s suite of services includes point of sale (POS) equipment financing solutions, working capital loans, term loans, and merchant cash advances. “Our significant investment in Finova Capital supports our vision of providing whatever products it takes to help small businesses to succeed. Finova’s leaders mirror National Funding’s commitment to modern technology and trusted relationships, and we are pleased to provide access to banking and liquidity opportunities to support its growth.” National Funding CEO Dave Gilbert “The Finova team greatly appreciates Dave Gilbert’s vote of confidence in our business model, business philosophy, and leadership team. The National Funding investment will allow us to focus on continuous product and platform enhancements that we believe will result in significant value for our merchant clients and referral partners,” said Finova CEO Bob Neagle. About Finova Capital Finova Capital is a new kind of merchant finance partner. The company is backed by decades of experience and is dedicated to transparency and acquirer growth. Founded in New Jersey by best-in-industry merchant finance experts and powered by retention-focused products and acquirer-enabling technology, Finova is quickly building relationships where acquirers and merchants all win. About National Funding, Inc. Founded in 1999, National Funding is a leading U.S. specialty finance company serving small- and medium-sized businesses. The Company’s foundation serves American small business owners by providing funding solutions to meet their needs to reinvest in their day-to-day operations and help them grow. National Funding has provided more than $4.5 billion in working capital and equipment leasing for more than 80,000 small- to medium-sized businesses nationwide. In addition, National Funding’s digital funding process has elevated its digital capabilities by delivering a fast and simple online application.

Read More

Finance

Nav Introduces the Launch of Instant Financing

Nav Inc. | February 10, 2022

Nav Technologies, Inc. announced an extension of its partnership with Enova SMB, which comprises OnDeck and Headway Capital, two small business financing brands from Enova International. Nav Technologies, Inc is a simple and intelligent finance platform that simplifies the process of comparing financing choices for small businesses. The partnership enables Nav to be the first two-sided, open marketplace to significantly simplify capital access by allowing eligible consumers access to fast lines of credit with money accessible as soon as the following business day*. Through its partnership with Enova SMB, Nav is the only platform that can combine customer business data with its network of lender relationships to provide instant financing, making it easier than ever for qualified small businesses to access capital. “Until now, small businesses were left victim to the highest bidding lender on Google or led to blindly accept the one option presented by a closed system provider. By capturing the customer data lenders need in advance, Nav is uniquely positioned to provide access to the first instant financing offers in an open environment. This means small business owners can now evaluate loan options with more certainty and confidence.” Walt Levengood, Nav VP of Sales and Business Development Nav will continue to innovate, enabling small companies to evaluate options and confidently select the best solution for their requirements. Nav has helped over 1.4 million small companies get the best financing solutions based on real-time company data. Jim Granat, Head of Enova SMB stated, “We are thrilled to partner with Nav to enable small businesses to easily compare loan options and, ultimately, help more small businesses achieve their goals with fast, flexible and transparent funding.”

Read More

Finance

FundThrough Acquires BlueVine’s Invoice Factoring Business

FundThrough | January 14, 2022

FundThrough, a financial technology platform that solves cash flow challenges for growing businesses through fast invoice payments, today announced that it has acquired the invoice factoring business of financial technology company BlueVine. The acquisition fast tracks the company’s strategic focus on embedded finance and its expansion efforts in the U.S. market, doubling the number of U.S. clients that will rely on FundThrough to turn unpaid invoices into working capital. All BlueVine invoice funding division employees are joining FundThrough as part of the transaction. FundThrough has grown 1,071% over the past three years and almost 300% since last year, funding thousands of B2B clients since the company was founded in 2014. The fintech company has scaled to process more than USD$120 million dollars in funding per month while being extremely capital efficient, having only raised $25 million dollars in equity since its inception. The acquisition is expected to more than double the number of funding transactions that FundThrough makes annually. Cash flow is the number one problem facing small businesses. According to QuickBooks data, 81% of surveyed businesses said that their customers had been late on their payments more often in 2021 compared to previous years, and 89% said late payments limit their growth. According to FundThrough client data, small businesses wait 60 days on average for customers to pay their invoices. FundThrough addresses this issue through its AI-powered funding platform, which generates automated offers for a seamless onboarding and funding experience. Through its technology, along with key partnerships with companies such as Intuit and Enverus, FundThrough cuts that waiting time by 97 percent to accelerate access to cash flow for small businesses. “We are committed to helping small businesses grow and thrive – especially those who sell to large customers where long payment terms and a lack of financing options stand in the way of growing a business. BlueVine was one of our biggest competitors in the U.S. market, and through this acquisition we can fulfill our mission on a much larger scale. We look forward to providing BlueVine’s invoice factoring clients with the same responsive, personalized customer service and seamless funding experience that FundThrough’s existing clients rely on and appreciate.” Steven Uster, co-founder and CEO of FundThrough In addition to accelerating its U.S. expansion, the acquisition also rapidly progresses another core FundThrough strategy: becoming the leader in embedded finance. The additional scale from new channel partnerships and relationships acquired through BlueVine — including all BlueVine factoring partners, who have now transitioned to FundThrough — will fuel FundThrough’s goal of being included within the workflow of B2B marketplaces, ecosystems, and apps where suppliers can request instant payment of their large customer invoices without leaving the workflow. This gives suppliers more opportunities to boost their cash flow, and levels the playing field for small businesses selling to large, powerful customers who often dictate long payment terms. Based in Redwood, California, BlueVine provides financial services to small and mid-sized businesses. The company addresses the banking and working capital needs of business owners with a suite of products including BlueVine Business Checking, Payments, and Line of Credit. Factoring was BlueVine’s founding product. “Since launching BlueVine, we’ve been focused on the financial needs of small businesses and are very proud of what we’ve been able to accomplish. As we evolve our products and services, we continuously examine how we can better serve our customers at scale,” says Eyal Lifsthiz, co-founder and CEO of BlueVine. “We determined that FundThrough is perfectly positioned to serve our factoring clients with the care and individual attention they need and deserve. Our factoring clients will be in great hands with FundThrough.” About FundThrough FundThrough is a leading fintech company accelerating cash flow and enabling growth for small and medium sized businesses that sell to large customers and wait to get paid. Based in Toronto and operating across North America, FundThrough’s AI-powered invoice funding platform gives B2B businesses fast, customized funding offers to get their invoices paid in a few days – rather than a few months – and get quick access to cash they’ve already earned. About BlueVine BlueVine provides small and medium-sized businesses with fast and simple access to financial services built with them in mind. BlueVine’s advanced online platform offers an intuitive, convenient solution designed to meet the banking and working capital needs of today’s business owners with a suite of products including BlueVine Business Checking, Payments, and Line of Credit. Based in Redwood City, California, BlueVine has provided small and medium-sized businesses with access to more than $14 billion in financing with all products combined and is backed by leading private and institutional investors, including Lightspeed Venture Partners, Menlo Ventures, 83North, Citi Ventures, ION Crossover Partners, SVB Capital, Nationwide Insurance, and M12 (Microsoft's Venture Arm). All lines of credit and term loan products are issued by Celtic Bank, a Utah-chartered Industrial Bank, Member FDIC. Banking Services provided by Coastal Community Bank, Member FDIC.

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