When working in a construction company, keeping track of your projects are a crucial part of your business. This is because slight mistakes can have a huge impact on your business, especially if it might involve legal proceedings, very expensive, right? Keeping track of your projects, on the other hand, can not only be protective…
There is no debate on how much information you should know, while running a small or a medium-sized business, SME. This is because you need to optimize your business to use the least amount of recourses for the maximum results, this is to ensure you get the best out of them. Advance Payment Guarantees, APGs,…
Construction companies’ usually acquire bid bonds in order to secure tenders. This not only protects companies from incurring extra costs when it comes to tendering but has even become a statuary standard required in the tendering process by law. In this case, construction companies are forced to seek for bid bonds. This might pose a…
This article was published in Urban Kenyans So, check this out. How I used invoice discounting to save my business. Do you ever ask what you can do when operating a tendering business, with clients as tough headed as mine? What happens when you have been awarded a tender, when you have not even gotten payments…
An advance Payment Guarantee, APG is a promise made by a supplier to a buyer, on receipt of an order to supply goods, pleading to compensate any upfront cost that may be incurred by the buyer in an event of a fail. In often circumstances, APGs is used when financing a trade between different countries…
When conducting business abroad, you need to be sure of receiving payments for goods sold. Otherwise, you risk being violated when supplying goods without pay. Here is where a letter of credit comes in. A Letter of Credit, LC also called the documentary of credit, or a banker’s commercial credit, is simply a document that…
Just like personal credit scores, business credit scores are based on financial history and it tells lenders and suppliers how good you are at paying debts. What does a business credit score portray? A good credit score means that you are fast at paying debts and bills so anyone is happy to do business…
It comes a time where small business owners desire to expand their business from investing in new equipment’s, conquering a new market, or spending more money on marketing and promotional efforts. The small business loans are always available from a large number of traditional and alternative lenders. Here is how to get a small business…
Many entrepreneurs get into business with either none or less financial terms awareness, considering they might be in business as natural salespersons. But when it comes to running a business knowing your numbers is one of the most important things. Business owners who struggle with finances should hire an accountant or use accounting software’s,…
Business is credit is the ability for a company to access borrowed money which it can use to purchase products or services based on the trust that payment will be made in future. Apart from using credit to make daily or major purchases business credit goes beyond just the purchasing power in that your company’s…