504 loans offered through the Small Business Administration (SBA) are designed to provide funding for fixed assets that help in the creation of jobs or business growth. Some examples of allowable uses include the purchase or construction of land, buildings, machinery, and other equipment. An SBA 504 loan has two separate funding sources: Certified Development…
Ultimate Guide
TikTok Live Shopping: What You Need to Know
TikTok live shopping is an immersive shopping experience for TikTok users that can yield high conversion rates for your business if done right. It’s a great way to promote your brand, build awareness, engage with your audience, and, ultimately, boost sales. This guide walks you through the different aspects of running a TikTok live stream…
Commercial Auto Insurance: Cost & Coverage
Commercial auto insurance is an important policy for any business with vehicles and is required if your business owns a vehicle—covering damages and injuries from accidents. The damage can be to other vehicles or property and even the cost to clean up a crash scene. This type of insurance can include multiple coverages for first-…
TikTok Dropshipping: Ultimate Guide for SMBs
TikTok is a social and ecommerce powerhouse with about 150 million users in the US.[1] In addition, 37% of TikTok users have bought something from the platform.[2] If you’re looking to cash in on the TikTok ecommerce phenomenon, you can start selling on TikTok without investing in products upfront. The dropshipping business model lets you…
Private Label Playbook: Ultimate Guide for SMBs
Private labeling is when a manufacturer produces goods or products for another company to sell under its own brand name. It could be a viable option if you want to start a retail business but have no idea about the product development process—all you need is a product idea, and you can find a manufacturer…
Pre-tax & Post-tax Deductions: An Ultimate Guide
Understanding pre-tax and post-tax deductions is a crucial part of running a small business. Deductions play a crucial role in both employee benefits and garnishments, impacting net pay for your employees. Pre-tax deductions are those deductions subtracted from an employee’s pay before taxes are withheld (including health plan and life insurance contributions). Post-tax deductions refer…
Home-based Business Insurance: Cost, Coverage & Providers
Business owners working from home need home-based business insurance for losses arising from third-party liability and property damage. General liability and commercial property are the two most common types of home-based business insurance policies. The typical cost for both policies can range from $950 to $1,900 annually. Next Insurance specializes in business insurance for home-based…
Employee Mileage Reimbursement Guide (+ Calculator)
Employee mileage reimbursement is when a business pays a certain amount to cover the expenses (cost of gas, oil changes, and other maintenance) of an employee using their personal vehicle for work-related purposes. As such, employers recognize the importance of compensating employees for the time and resources spent traveling for work-related purposes. The IRS has…