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The Importance of Business Basics Post-Pandemic

With high inflation and geopolitical headwinds, the economy is rebalancing, consumer spending has slowed, and business owners are getting more conservative. As rates go up, demand for loans has gone down, an intended consequence from the Fed’s efforts to slow economic activity. As a business owner, it is vital to have the right relationships in place as you navigate this environment. It can be helpful to focus on some basics such as doing business with people you trust and staying true to your values.

Do Business with People You Trust
Business and farm owners in…

Responding to Claims of Sexual Harassment

Dear HR:

One of my female employees left a handwritten note on my chair alleging sexual harassment by a male coworker. The allegations are lurid and serious. I know the accuser to be an honest, trustworthy employee. I feel like I need to take action ASAP, but am not sure where to start. What’s next?

Signed, Confused supervisor

Despite widespread attention in the media, advances in awareness and…

6 Must-Haves for Employee Engagement in a Post-Covid Era

We all know the saying, “Employees are a company’s greatest asset.” In the post-Covid era we live in today, this saying is even more relevant. Over the past two years, there has been a massive shift in the culture of the labor market which has given a great deal of power to candidates and employees instead of with the employer.

The expectations for an ideal workplace are set higher than ever and that is weighing heavily on employers. But companies who recognize this shift in the job market and understand what is expected of…

How Businesses Can Utilize Asset-Based Lending in a Slowing Economy

Although the economy has rebounded strongly from the effects of the pandemic, it has begun to overheat over the past year. This overheating of the economy has resulted in the highest levels of inflation we have seen in 40 years. In order to bring inflation back to its target levels of 2% annually, the Federal Reserve has raised interest rates over the past several months and it is expected that the Fed will continue to raise rates until inflation can be brought under control.

Increasing interest rates have historically caused the…

Recession? A Disconnect Between Data and Behavior  

With historically high employment, high wages and high consumer spending, it is hard to believe that the current economic circumstances are technically defined as recessionary. The big question is not whether the U.S. is currently in a recession – the big question is what’s coming next? Are the economy’s problems going to get worse in the coming months? Will the situation level out or possibly even improve?

Many key indicators such as high inflation, market volatility, rising interest rates and a tightening housing market point to an economy on the brink of recession. But…

Increase Business Efficiency and Mitigate Fraud

Business owners and their banker often spend time talking about how to obtain the best loan, interest rates and terms, but it is also important to discuss the fundamentals of running an efficient operation from a deposit perspective. Cash management services are a key component to improving the cash flow process and they can also be a valuable tool in fraud prevention. Here are a few cash management services to consider that can help increase efficiency and mitigate fraud.

E-services – Online banking services have valuable tools to streamline the payable and receivable process such as Automated Clearing House (ACH) transactions….

Want to Win More Sales? Lead with a Payment Option

Purchasing needed equipment for your business can be tough. While improved equipment can cut costs, increase sales and help create a healthier bottom line, strict budgetary constraints make it difficult for business owners, both small and large, to buy or upgrade equipment that will allow their companies to operate more efficiently.

A great way to avoid budgetary objections is to lead with a monthly payment option. It’s simple, if you make your equipment easier to purchase, more people will buy it. Even though it is necessary for their business, owners are often nervous about spending tens of thousands of dollars…

Sell More By Offering Municipal Leases

Many sales people do not understand the municipal market, so they just shy away from it and target the traditional commercial business-to-business prospects they are comfortable with. However, that leaves significant opportunity on the table. Sales professionals who are willing to get out of their comfort zone and invest their time to learn the municipal market can find success.

Want to get started targeting the municipal market? Here are some tactics I have found successful.

Establish a relationship with local purchasing managers.

Educate them on your company and the products you offer. Once a purchasing manager feels comfortable with a company, they…

What Is A Business Credit Score?

Thirty years ago if you were to ask someone what their credit score was, they’d probably look dumbfounded or they might think you were asking them some sort of trick question. Today, many people not only know their approximate credit score, but they probably have a pretty good idea how it is calculated. Most are aware that if you apply for personal credit such as a home mortgage, auto loan, or credit card, the lender will obtain a copy of your credit report. They will then use your credit score as a factor in determining whether you qualify for…

Who Needs Directors and Officers Liability Insurance?

I often hear, “We don’t have a board of directors, why do we need Directors and Officers Liability Insurance?”

It is a common misconception that officers of a privately owned company or a nonprofit organization are not at the same level of risk as public corporations. However, while the organization may not have a formal Board of Directors, those serving in a high-level management position such as president, vice president, secretary, chief financial officer or chief executive officer, are considered officers and are still at risk of a personal claim as a result of that position.

Directors and Officers Liability Insurance…

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