Smart Financing Options for the Auto Repair Industry

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As long as people have driven cars there’s been a need for auto-repair shops. Whilst other companies have suffered through the market crash, at least auto-repair owners know their services are still in demand. People are also buying less new cars, which means fixing up their old ones becomes a necessity for many American families. Running an auto-repair business has its own expenses. Supplies and specialist parts can become expensive, and many small, family run businesses may consider taking out…

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How to Use Vendor Financing to Sell More to Your Customers

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More than 77 million Americans make up the small business workforce, and while corporate America and the large multinational conglomerates often get the headlines, small businesses are every bit as vital to the American economy’s success. These 28+ million small businesses function, purchase product, and fill orders every day just like big companies, only in the vast majority of cases small businesses lack the luxury of a high credit limit or robust cash reserve. Which begs the question: What is…

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A Supplier to Small and Medium Businesses

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Many of us are familiar with the trials and tribulations of being a supplier to small and medium businesses. While there are many rewards associated with supplying goods, equipment or services to up and coming businesses and watching them flourish, there is also the worry of receiving payment on time. Often suppliers need to maintain generous relationships with small and medium business owners who cannot meet payments on time and this is a risk that affects the supplier’s business in…

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Collections and working with the right type of customer: Learning from supplier best practices

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Suppliers are constantly faced with two tasks: acquiring new paying accounts and satisfying the needs of their repeat customers. The two are related to one another. When dealing with new accounts, suppliers should focus on developing a lasting relationship with their customers. There are 3 steps suppliers take en route to converting new accounts into satisfied repeat customers. Select Credible Customers KYC (Know Your Customer) Structure the payment plan Select Credible Customers Before accepting business from a new customer, suppliers…

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Small and medium businesses are the economic engine of the economy

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Companies with less than 20 employees accounted for 42% of new jobs created in 2013. And when you count businesses up to 499 employees, that number goes even higher (64% of total job growth, April 2013). Starting back as far as 2009, it was a mathematical inevitability that the economic recovery would be lead by SMBs. Paul Kedrosky used the metaphor of a drunkard’s walk to describe how SMBs would fuel the job economy. An inebriated bar-goer, leaving a bar…

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