Business Resources Library

How to Finance Your Manufacturing Business

Small manufacturing businesses are a diverse and evolving driver of the U.S. economy. In fact, according to the National Association of Manufacturers, for every $1.00 spent in manufacturing, another $1.89 is added to the economy, proving that this sector continues to thrive. While the opportunities are tremendous, most entrepreneurs face a primary challenge in funding their manufacturing companies, as they tend to be more expensive to get off the ground than many other types of small [...]

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5 Best Practices to Increase Your Profitability in the New Year

The New Year is a time for reflection and planning. For small business owners, that means reviewing your year-end financial statements to see how you did and planning for the future. If you’re interested in improving your business’s financial image, here are five ways to boost profits. 1. Small Markup vs. Big Markup: It’s important to focus your efforts and know what works best for your company. If your business has a small gross margin (think: small mark-up) cutting costs by [...]

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Top 5 EGF Business Resource Articles of 2018

With the New Year right around the corner, it's time to start planning for the year ahead. To help you plan and continue down the road to success in 2019, we’ve rounded up our top five business resource articles from 2018. With these articles, you will learn our best tips and advice on how to boost your working capital, manage your cash flow, improve your credit score, prepare a winning loan application, and avoid common financial challenges. Up Your Small Business Working Capital Game  [...]

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How to Increase Revenue

Stimulating growth in your small business can be done in a number of ways, but most business owners focus on increasing revenue. There are two key ways for small businesses to increase revenues. The first and most commonly applied way is to increase sales revenue by adjusting prices, increasing sales volume or a combination of both. The second way, and one that’s often overlooked, is by increasing operational efficiencies. Every business can benefit from increasing their operational [...]

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Using Financial Projections as a Tool to Drive Success

Your small business’s financial projections are among the most effective and powerful tools to guide growth. Using these figures can help you keep your business on track, monitor cash flow, and identify problem areas before they become serious. In this article, Excelsior Growth Fund’s team explains why it’s smart to use financial projections as a tool for growth and how to do so successfully. Why use financial projections? Business leaders, lenders and mentors consistently [...]

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