Saturday, April 10, 2010

Economic Engine is starting to Purr...

Job losses have started to reverse, and sales are up in some industries. It may be time to think about getting a business loan The fallout from this recession has made many businesses fail, but if you’re still standing that’s actually good news for you. All those customers will have to go somewhere else, and you’re in a unique position to actually expand your business as the economy starts to recover.

First, Your Business Model

Take a hard look at your business model with an eye to expanding your reach to customers both online and offline. Make no mistake even if you are a local business you should have an online presence. Outsource the creation of your site, if you have to, and make sure it has the features that will attract people to your door and make them loyal customers. You’ll want to take a look at the best ways to do business and include technological upgrades that can help you steam ahead against the competition. In terms of investments, technology is by far the cheapest, as it is a one-time expense that pays back dividends thereafter.

Second, Your Location

Reassess your location. Are you reaching the demographic you need to reach where you are? Moving a business is tough, but this recession has provided a unique opportunity for small businesses to expand their base of operations by buying commercial property while it is discounted. If you want a better locale, now is the time to get it. That may mean taking out a commercial loan and putting funds aside for moving and promotion of the new location.

Last, Hiring

Another great way to expand your business is through hiring. The rule of thumb is that hiring is always last, but this year might be different. With new federal incentives for hiring, your business can easily hire people and get 6.2% of the wages paid in a tax break for hiring in 2010. You do have to make sure your hire falls within the criteria for the Hiring Incentive to Restore Employment (HIRE) Act. This can help you expand your business and give someone a chance at a great job too!

Bill consolidation: How can you do it and what are the benefits?

Why should you consolidate your bills when there are other options to pay off your dues? The answer is bill consolidation is often a better way to pay off your debts.

For debtors, there are various techniques to go forward with bill consolidation. Debt consolidation loans and other plans are offered with affordable terms and conditions. These debt relief solutions are designed in such a way that helps consumers get out of debt without difficulties. You can consolidate your bills in various ways and some of them are described below.

Various ways of consolidating your bills

1) Home equity loans

If you have accumulated a lot of equity in your home, you can opt for a home equity loan to consolidate and pay off your bills. You can gain from the low interest rate available with these loans. This is basically a secured loan that is backed by the equity in your home. You should keep in mind that this is a new loan you’re taking out and you have the responsibility of repaying it. Failing to pay this loan might result in losing your home.

2) Balance transfer credit card

You can go for a low or 0% interest balance transfer credit card and shift the balances of your high-interest credit cards to that card and pay them off comfortably. This is a better option when you’re facing problems in getting approved for a debt consolidation loan.

3) Unsecured personal loan

You can obtain an unsecured personal loan from a credit union or bank and use it to pay off your bills. The advantage is that you don’t have to provide any security. However, the interest rate might be somewhat higher.

Benefits of consolidating your bills

You should consolidate your bills for a number of reasons and some of the advantages of bill consolidation are given below:

 A single payment each month
 Reduced monthly payments
 Affordable interest rates
 No creditor or collection agency harassment
 Improvement of credit score
 Waiver of late fees and over limit fees

Bill consolidation can be an outstanding option to become debt free forever and secure your financial future.