Category: Brandpoint Business & Finance

2019-08-15T07:01:00

(BPT) – When we imagine “financial literacy,” we often think about credit cards, loans and debt. But these building blocks of our financial infrastructures tend to cloud our perspective, pushing important details, like checking accounts, to the sidelines.

Checking accounts are often overlooked but are actually the backbone of personal finance and money management. Routinely using a well-kept checking account allows people to responsibly spend their money. For many, checking accounts are often children, teens and young adults’ first financial accounts, and serve as an introduction to money management and responsible spending.

Because checking accounts are so important, it’s critical that individuals find options that work with their lifestyle and are accessible anywhere. To make the most of your money, here’s what you should look for in a checking account:

1. Read the small print and avoid fees

Opening a checking account feels like a fairly standard practice, so it’s tempting to overlook the fine print. But that’s where hidden fees and charges often linger. The onus is generally on consumers to assess which options work best for them. When reading the fine print, focus on how much — and how often — charges will arise. If a financial institution claims to charge no fee on an account, confirm that there aren’t hidden fees that kick in after a certain amount of time. You don’t want to be surprised later on.

“Look for accounts that are ‘fee-free’ or boast ‘no monthly fees’ so that you ensure your money stays yours,” says Katie Miller, senior vice president of savings products at Navy Federal Credit Union. “It’s worth the time on the front end to save money on needless expenses in the long run.”

2. Access cash anywhere

Take a look at a checking account with a financial institution whose ATMs are scattered around your work, grocery stores and other favorite places that you frequent often. Many checking accounts offer solutions that make your cash even more accessible like ATM fee rebates. Sometimes, your bank of choice will charge you a fee to use an unaffiliated ATM; other times, the ATM itself will charge you a fee to access your money. Rather than pay extra to extract your own cash, some accounts allow you to use any ATM, fee-free. Offers like Navy Federal Credit Union’s Free eChecking account pay up to $120 a year in ATM fee rebates. Use any ATM, anywhere, regardless of fees, and receive up to $10 per statement period to cover those expenses.

3. Accomplish your goals with ease

Free eChecking is a great option for people who are always on the go. Being able to access your money with a few touches of your smartphone makes it easy to budget, plan and manage your money.

“You should bank the way you live,” continues Miller. “Look for offers that allow you to transfer money between accounts, for when you file away a percentage of your paycheck into your savings account. Select a checking account that takes the work out of managing your budget.”

4. Make your money work for you

Find an account that earns you monthly dividends to reward your loyalty and use. “Choosing a checking account that allows your money to earn dividends lets you make money without thinking about it,” says Miller. Some accounts even offer built-in money management tools that let you look at your spending to inform future budgeting endeavors.

Checking accounts teach us the basics of money management: They show us how much money we have and how much we’ve spent in real time. With the right checking account, you can take ownership over your money in a way that can be both impactful and instructive. And when one has the proper insights to avoid unnecessary fees and obstacles, this tool can be the perfect foundation for a healthy financial path.

2019-07-31T07:01:00

(BPT) – Should you ask someone their credit score on a date? There’s actually an online dating app that’s based on one’s credit score. Maybe it’s not a bad idea.

Apparently, members of the millennial and Gen Z generations agree. With student loan debt at an all-time high, it’s understandable that young adults are more willing to discuss finances than previous generations — even on the first date.

According to a Bankrate survey, millennials are nearly twice as likely to feel comfortable discussing money with a romantic partner — even sharing credit scores and exchanging stories about debt.

Young adults today are coping with the largest burden of student debt of any generation, plus stagnant wages and often limited support from parents who may have been hit hard by the recession. It’s no wonder money is on their mind — and an important consideration when choosing a partner.

If you’re a millennial or Gen Z, what do you need to know about finances? Here are ways to determine if the person you’re dating has a responsible attitude when it comes to debt, credit and finances.

Are they a responsible borrower?

When discussing where you went to school, it’s very common to bring up the subject of student loans and how you’re coping with debt. As they say, misery loves company. You each can share tips and resources that have worked for you. Create a bonding moment out of something you both may be struggling with and learn a few tricks along the way.

Are they living within their means?

One way to cope with debt is to make sure you’re not taking on more. Perhaps after you’ve dated a little while, you may feel safe to bring this topic up. This is something you may be able to subtly pick up in conversations along the way. This is a two-way street, so you must be open sharing your saving plan, goals and debt situation. Being the first person to share can help your partner feel more at ease.

Do they know and understand their credit score?

Your credit score reveals how potential lenders see you. Did you know that traditional credit score models don’t take into account the fact that millennials and Gen Z may have higher assets and income, but are reluctant to take on more debt due to their student loan burden, and so may reflect less credit history? A story in USA Today reported this last year.

A fun tip to share with your date: the VantageScore model assesses younger borrowers more fairly. Over 2.5 billion VantageScore credit scores were provided directly to consumers last year, and you — and your date — can get your free credit score at yourvantagescore.com/free.

Do they think about the future?

Your date may be surprised when you ask how they imagine their retirement, but this can be a great indicator of their financial mindset. If your date sports a flashy wardrobe but gives no thought to the future — or assumes they’ll be wealthy enough to retire at 50 with no current plan — they may not be thinking it through. See if they have similar retirement goals and outlook as you. Keep the conversation light and breezy. You’re just getting to know each other and it’s OK if they have a different financial mindset than you. You can only control your own actions.

Knowing how someone handles their finances can be an indicator of their maturity level and their character. Do they take responsibility for their obligations, or are they just winging it? How far you decide to commit to the relationship may largely depend on what you discover about their attitudes toward money. Understanding your debt situation is the first step toward planning for the future. For more information and helpful tips, check out the VantageScore podcast at vss.credit/itunes.

2019-07-30T06:01:00

(BPT) – Whether you’re a small-business owner, a manager at a mid-sized company or CEO of a large corporation, you’ve had to cope with constant change over the course of your career, and you’ve learned at least one thing: More change is inevitable.

Between the constant evolution of technology, shifting corporate cultures, changing consumer expectations and global challenges, change is the one constant you can rely on. Effective change management has become crucial for successful leaders of any size business, requiring a complex skill set and a mindset that’s focused on the needs of employees as they cope with change.

Employees and business leaders alike can have responses to change that are as unpredictable as the change itself. Some employees embrace change, eager to make the most of what they see as unlimited potential. Others fear it, worrying that everything they thought they knew no longer applies. Most fall somewhere in the middle, feeling wary or skeptical of change — and looking to their leaders for clues as to how things are going. Leaders need to take the reins and show the way through the change, with a clear vision of the ultimate goal, even if the path to get there is less than clear.

What techniques can business leaders use to become more effective at change management? The training experts at Dale Carnegie offer some guidelines.

1) Evaluate

Before the proposed change is implemented, carefully evaluate both the opportunities and potential risks from the change. Careful planning can anticipate and avoid possible surprises, limiting a domino effect of one change causing further disruptions.

2) Coordinate

Because too much change at once can be overwhelming for anyone involved, coordinate efforts with all the other stakeholders, making sure to include anyone who will be affected in the planning as well as implementation of the change.

3) Commit resources

Plan to commit enough time, funding and preparation for everyone who may need to take on new responsibilities as part of any change initiative. One of the most common reasons people resist change is lack of confidence, so make sure your employees have the skills required to handle any new challenges.

4) Get leaders on board

Ensure that all the leaders in your organization are fully committed to the change. Consider how it will affect them by taking their point of view. Ask questions and make sure every leader is involved in the process to ensure success. All of the organization’s leaders will be responsible for communicating the desired vision for the change initiative, and employees will look to them to understand the need for this change.

5) Communicate

Make sure everyone in the organization understands the need for the change, and can visualize how things will be different once the change is implemented. Focus on the company’s goals and communicate how those goals will be better met as a result of this change.

6) Be others-focused

Try to see things from the point of view of others in the organization. Focus on the opportunities for individual growth that change can bring, and help everyone look to the future.

7) Be cooperative

Show respect for the opinion of others, and ask questions instead of giving orders. Remember that those closest to the situation often have the best ideas and solutions.

8) Enhance trust

Build trust before it’s needed by being consistent, honest and true to your own values and principles. If employees trust leaders, they will be more likely to positively embrace proposed changes.

9) Magnify improvements

Focus on what’s going well, no matter how small those improvements may be, and give prompt, sincere and specific praise. Communicate your praise publicly, and connect those achievements to the overall vision of the organization.

As Dale Carnegie once said, “Keep your mind open to change all the time. It is only by examining and reexamining your opinions and ideas that you can progress.”

Mid-level or experienced business leaders seeking to hone these and other skills can enroll in A Leader’s Guide to Managing Change in the Workplace to further develop ways to become a successful change manager.

For more information about the complete training program, Leadership Training for Results: Unleash Talent in Others, visit dalecarnegie.com.

2019-07-30T09:01:04

(BPT) – Everyone who loves the outdoors knows the impact humans can have on their environment, and this is especially true when it comes to wildfires. According to researchers from Swansea University’s College of Science, wildfires destroy 4% of the Earth’s surface each year. It has also been estimated that 84% of all wildfires are caused by humans, according to researchers from the University of Colorado. Rising worldwide temperatures and weather extremes have further increased the incidence of fires. From campers who get outside and explore our forests and parks, to backyard chefs tending the open flames of their grills, responsible use of fire is critical to preventing accidents like those seen around the world in recent years.

This sense of responsibility and a growing global urgency to help combat the devastating effects of wildfires inspired Zippo to take action. As creator of one of the most famous flames of all time, the iconic American brand is intimately aware of the power of fire. Zippo has teamed up with WOODCHUCK USA, creators of sustainably sourced wood-based products, as part of the BUY ONE. PLANT ONE.^® program. The partnership means that one tree will be planted for every windproof lighter sold from the Zippo Fight Fire with Fire collection.

The program is part of a long-term vision to support reforestation efforts in the aftermath of fires around the globe, beginning this year in Madagascar. As the fourth largest island in the world, Madagascar has had 90% of its original forests destroyed. Reforestation will create habitats for endangered species, help absorb carbon, halt erosion and flooding — and bring back healthy farming and fisheries.

Lucas Johnson, Senior Brand Manager, Global Marketing at Zippo, states, “Temperatures are at the highest level on record and wildfires are affecting almost every continent on Earth, but unlike most natural disasters, the majority of wildfires are caused by humans. According to National Geographic, in the U.S. alone there are around 100,000 forest fires each year, clearing up to 9 million acres of land. The Zippo windproof lighter gives people the power of portable fire, but with this comes responsibility.”

For individuals using fire, especially in regions susceptible to wildfires, it’s vital to follow practical safety measures. Here are some tips to help prevent wildfires:

Camping and the outdoors

When creating a bonfire, use a pre-made fire pit if available, or make a fire pit cleared of all vegetation with a boundary such as a circle of stones. Remove excess dead leaves or other potentially flammable debris from the area before lighting the fire.

Never leave a fire, lantern or cook stove unattended, especially overnight.

If the weather is windy, don’t start a fire — the risk is too high, as the embers can be carried across great distances and risk setting vegetation alight elsewhere.

When you’re finished with the fire, grill or stove, be sure to douse it thoroughly with water. Stir the coals or ashes to be sure all heat has been extinguished, and smother the campfire with dirt.

If you see fire that appears unattended or out of control, call 911 or the local park service right away.

In the backyard

Check and follow all local ordinances regarding fires, whether for recreation or burning yard waste.

Make sure the grill or bonfire is not near or underneath branches or other vegetation, or too close to your home.

For a fire pit, clear all grass, dead leaves or other possibly flammable material, and create a clear boundary for the fire using stones or bricks.

Consider fire risk when landscaping and maintaining your lawn and garden. Especially if you live in a wildfire-prone region, consult the National Fire Protection Association’s (NFPA) Firewise website for practical fire prevention tips such as using fire-resistant plants and creating a defensible zone around your home.

Consistently remove dead and dry leaves, pine cones and other plant material that could fuel a fire as part of your regular lawn maintenance.

Keep bushes and trees regularly pruned of dead branches.

Don’t use fire on a windy day, as the risk for fire spreading is too great.

If celebrating with fireworks, keep water and/or a fire extinguisher handy and spray down nearby grass and other vegetation before lighting fireworks. Be sure to thoroughly douse used fireworks with water. Don’t use fireworks at all if the weather is windy or if your area is under a Red Flag Warning.

Making a difference

Following these precautions to use fire responsibly is one way everyone can help prevent devastating wildfires. Every individual has the power to make a positive impact.

To learn more about how Zippo is making a difference, visit their YouTube channel. And to support Zippo’s efforts to help counter the effects of deforestation caused by wildfires, check out the Zippo Fight Fire with Fire collection.

Take the time to learn how you can contribute to the fight against wildfires in your area and beyond, to help protect the planet for generations to come.

2019-07-25T08:01:00

(BPT) – If you’re dreaming about starting a business, or if you’re already a business owner looking to grow your business, chances are that you’ll need a loan at some point to help your vision become reality. And if you’re a veteran or active-duty servicemember, you already possess the skills and vital experience needed to make your business a success.

“From resourcefulness and determination to the ability to take smart risks, military experience teaches skills that translate well for business ownership,” says Tony Pica, vice president of business services at Navy Federal Credit Union.

The U.S. Census Bureau’s 2012 Survey of Small Business Owners found that 2.52 million businesses in the United States (or 9.1%) are majority-owned by veterans. And fortunately, there are many resources available for veterans who are interested in starting or growing their business, including those from the SBA.gov.

What are lenders looking for? Here are five considerations to keep in mind before securing a loan for your business:

1. Do your market research and prepare a solid business plan.

Doing research on the industry and preparing a solid business plan is an important step to take when seeking financing for your company. If you can demonstrate to lenders that you’ve done your due diligence — created a detailed business plan, have a trusted team, know the demand for your product or service, and developed a sales strategy to show the viability of your business — you’ll be much more likely to convince them to take a chance on you and your company.

2. Review your overall financial profile.

“Your complete financial health demonstrates your creditworthiness to lenders, so it’s best to review your credit history before applying for a business loan,” says Pica. “You’ll also want to know the amount of money you need to borrow and what exactly it will be used for.”

Additionally, presenting your complete background, such as your education and experience, including whether you’ve worked at or managed a similar business in the past, can also make a big difference.

3. Be willing to invest some of your personal money.

Depending on the lending request, you might need to provide a cash injection and/or collateral. This may include your home, a vehicle, marketable securities, or tangible inventory. By doing so, the lender wants to make sure that you’re willing to put your own skin in the game. In many cases, a certain amount of capital may be required by law.

4. Expanding an existing business? Demonstrate evidence of continued success.

Lenders will want to see evidence of your past and projected cash flow as a result of expanding your existing company. If the loan is for a new business, you’ll need to show lenders your ability to repay it by providing a detailed explanation that includes projected expenses and income, based on solid research.

5. Partner with your trusted financial institution.

Once you’ve done your market research and developed a concrete business plan, talk to your trusted bank or credit union about the business lending products and services available to you.

For example, Navy Federal Credit Union Business Services provides much more than just loans for equipment, vehicles and commercial real estate for its members. They provide a whole suite of options, such as business checking and savings accounts and business credit cards, as well as assistance with bill pay, payroll processing, insurance policies and retirement coverage for employees.

Financing your budding business can be a smooth process with these considerations in mind.

2019-07-23T07:01:00

(BPT) – How do you identify future leaders? Is it GPA? Test scores? Another metric? There are all kinds of formulas to predict who among the nation’s youth will become our country’s leaders. But trying to decipher them can leave you lost in a sea of analytics.

Fortunately, there’s an easier way to discover those who will set the bar in the years ahead. It’s students and leaders who are applying a creative approach to help uplift their communities. These students are developing a unique set of skills that combine the power of sport, financial literacy and leadership development to help create a winning formula for the success of our future leaders.

In support of this innovative approach, MUFG, a global financial institution, has made a multi-year commitment to support Laureus, a global nonprofit organization that uses sport as a force for good. As part of its support, MUFG Union Bank foundation participated as a Bronze sponsor at this year’s Laureus Youth Leadership Summit, which took place in Los Angeles this past July 8-9.

At the event, more than 200 youth and leaders from across the U.S. gathered to share insights about the best ways to design youth-serving programs. The findings discovered during this conference were then made available for attending youth to take back to their communities to help create positive change.

The convergence of sport, financial literacy and youth leadership were highlights of the two-day Summit. MUFG, which is the parent company of Union Bank, had an opportunity to shine the spotlight on an initiative that sets them apart from many of their industry peers, student-run bank branches inside high schools.

Financial education and youth empowerment are part of the foundation’s Stewardship and Sustainability strategic initiatives, and therefore the Laureus Youth Summit was a perfect partnership for the MUFG Union Bank Foundation.

Real-world skills put into practice

In 2011 the Fresno Unified School District, in partnership with MUFG Union Bank, opened the doors to its very first student-run bank. The branch was inside McLane High School in Fresno, California — a region where poverty and dropout rates among high school students continue to be high. The branch was the first student-run bank of its kind west of the Mississippi River and since that initial creation, four more student-run branches have opened in high schools around Southern California, in predominantly low-to-moderate income communities. Each of these branches offers students the opportunity to learn lifelong money management skills by working in the bank and by sharing what they learn with fellow students and their communities.

In fact, recent graduates from Lincoln High School, along with incoming student bankers from Crenshaw and El Monte, attended the Summit and presented a Financial Literacy workshop to youth attending the conference.

Financial education, a catalyst for positive change

Teaching the next generation of leaders about responsible money management isn’t just a lofty aspiration, it’s essential for helping develop future leaders. But for the skills learned to be fully practiced and ingrained in young people, education alone is not enough. Future leaders must be allowed a place to put these principles into practice every single day. Instead of focusing on formulas and trying to predict who might grow up to be a leader, you could simply look at who is leading now. The world leaders of tomorrow are often those leading in their high schools today. They are the captains of their sports teams, the valedictorians of their graduating classes and they are active in extracurricular programs from athletics to a math league to those that teach financial education.

“MUFG Union Bank supports The Laureus Foundation in its belief that sport has the power to develop and nurture young leaders,” said Julius Robinson, MUFG Union Bank Managing Director and Group Head Corporate Social Responsibility for the Americas. “MUFG Union Bank is pleased to support the Laureus Youth Summit here in Los Angeles, and we are even more excited to be able to share this opportunity with some of our incoming and graduate student bankers from our student-run branches in Southern California.”

To learn more about MUFG Union Bank’s corporate social responsibility efforts and financial education, visit https://www.unionbank.com/Images/CSR-Annual-Report.pdf. You can also follow Laureus Sport for Good USA on Instagram to see highlights of this Summit and follow future events.

2019 MUFG Union Bank, N.A. All rights reserved. Member FDIC.

Union Bank is a registered trademark and brand name of MUFG Union Bank, N.A. unionbank.com

2019-07-22T08:01:01

(BPT) – This July, two teenage girls from every state in the country meet in Washington, D.C., for the 73rd annual American Legion Auxiliary Girls Nation. This one-week government-in-action leadership development program is designed to educate future leaders on U.S. government fundamentals and the rights, privileges and responsibilities of citizens.

The girls selected to go to ALA Girls Nation are chosen from week-long ALA Girls State programs in each state. The young women become “senators” for a week and participate in mock political campaigns and debates, visit historical sites, and meet their real-life counterparts on Capitol Hill. For a number of the participants, the program’s impact extends beyond the weeklong event: Many go on to serve in the military and credit ALA Girls Nation as their source of inspiration.

New ALA member and U.S. Army Capt. Virginia Clark, stationed at Fort Benning in Georgia, is an ALA Girls Nation alumna. Though she says she has always been patriotic, her experiences at ALA Girls State and ALA Girls Nation helped her realize she wanted to serve her country. “Being around really motivated people made me realize I wanted to be around people who were spending their time doing things rather than looking for the next great party,” Clark said.

Reflecting on where she has been and where she is going, Clark says she owes it all to the American Legion Auxiliary. “I wouldn’t have gotten into West Point without ALA Girls State and ALA Girls Nation … I 100 percent owe, I think, my current life and my career — I met my husband at West Point — to the fact that I went to ALA Girls State and ALA Girls Nation.”

For some girls, the Washington, D.C., leadership program is their first opportunity to connect with peers with common interests. For others, it is the first time they encounter students whose perspective differs from their own. For all, it is a moment in time where similarities and differences come together to symbolize strength, democracy and freedom.

Former ALA Girls State and ALA Girls Nation attendee Allyson Snelling, who is attending the U.S. Military Academy at West Point, chose a career in the military because she “loves everything it represents.” She adds, “The values and lessons I’ve learned during my short time at West Point have made me a better person and leader.” Snelling said the program taught her the power of one voice and the importance of communicating with others. “Being able to communicate with someone you may completely disagree with is becoming a lost art,” she said. “ALA Girls Nation taught me that it doesn’t matter if you agree; it matters that you understand.”

ALA Girls Nation alumnae have gone on to hold leadership roles in industries spanning government, media, education and law, and many have become high-ranking members of the military.

Notable alumnae include Jane Pauley, national media personality; Susan Bysiewicz, lieutenant governor of Connecticut; retired Lt. Gen. Michelle D. Johnson, former superintendent of the U.S. Air Force Academy and former Air Force aide to the President; Ann Richards, former governor of Texas; and Susan Porter-Rose, former chief of staff to First Lady Barbara Bush, among many others. ALA Girls Nation is proud to be a foundation of support to the future strong women of this great nation.

The American Legion Auxiliary (ALA) is a nonpartisan organization committed to advocating for veterans’ issues, mentoring America’s youth and promoting patriotism. They advance the mission of The American Legion, incorporated by Congress in 1919 as a patriotic veterans organization founded on four pillars: Veterans Affairs & Rehabilitation, National Security, Americanism and Children & Youth.

2019-07-17T07:01:00

(BPT) – It’s that time of year again — back-to-school sales are starting up, and parents everywhere are preparing to send kids back to the classroom. In a recent Coinstar back-to-school survey conducted among 1,004 U.S. parents, three in five said that they felt stressed about managing school-related costs, from new clothes to all the school supplies their kids will need.

Nationwide, parents are getting more creative about how to save money on school-related costs, and about how to fund what seems like constantly rising expenses.

Here are five of their top money-saving tips:

1. Shop solo if you can.

According to the Coinstar survey, 66% of parents have a back-to-school budget this year, as opposed to only 57% who made a budget two years ago. And more than two-thirds of parents reported that going shopping without their kids helped them stick to that budget. So if you can shop by yourself this year, you may be able to avoid the impulse purchases and other non-budgeted items that tempt your children at the store.

2. Make kids’ lunches at home.

Sixty-eight percent of the parents surveyed said they make their kids’ lunches at home every day to save more money. It stands to reason that this would be a big cost saver — and to stretch your budget even further, you might consider packing lunches for the whole family the night before (even for parents to take to work).

3. Count your pennies.

Most parents said that they will use cash on hand to cover back-to-school basics. A creative way to find more money is to cash in spare change from around the house. More than half of survey respondents said they would consider cashing in spare change to help offset costs. It’s easier than ever if you use a Coinstar kiosk, where change can be converted to cash or a no-fee eGift card. Ninety percent of the U.S. population lives within five miles of a kiosk, so you’re bound to find one in your neighborhood. Just go to www.coinstar.com to locate one near you.

4. Crowdfund special expenses.

These days it’s not unusual for people to turn to crowdfunding sites like GoFundMe or Kickstarter to help pay for extracurricular school activities or school trips. A third of the survey respondents said that they would consider doing just that. It can be an easy way for friends, neighbors and family to help out, and is best used for a specific target or purpose everyone can rally around, like a school choir trip, new instrument or graphing calculator your child needs for school.

5. Don’t buy what you don’t need.

Take a good look at that lengthy supplies list from your children’s school before you go shopping, and then go through your children’s backpacks and rooms to see which items are duplicates of supplies you already have (like scissors, rulers or pencil cases). There may even be items that were barely used last year, so you don’t need to buy brand-new ones (like the boxes of colored pencils or markers that are still in good condition). This can cut down on your school supplies costs quite a bit.

Don’t let back-to-school expenses stress you out. They can be manageable if you plan ahead, make a budget and stick to it. These strategies will help make your back-to-school costs a little easier to handle.

2019-07-15T08:01:01

(BPT) – The last thing any company wants is a misstep that hurts the trust it has built with customers. This is especially true for smaller businesses, which may not have the resources to recover from a reputational setback. To prevent mistakes, bad decisions and wrongdoing, smaller businesses can take a proactive approach to developing ethical business leaders and business cultures. In doing so, experts say businesses can achieve benefits for their bottom line, their employees and the common good.

It can happen anywhere

Often, leaders at small businesses with few employees feel protected from or less susceptible to fraud or unethical conduct because of the close-knit nature of their teams. But research shows the issue of unethical behavior is more widespread than they realize, and certainly isn’t confined to one type of business. According to a 2017 Ethics and Compliance Initiative survey, nearly 47% of U.S. employees at companies of all sizes said they personally observed workplace conduct that “either violated organizational standards or the law.”

A 2018 Better Business Bureau survey found that 84% of consumers trust small businesses the most. That’s important for business owners to recognize, because the more trust a consumer puts in your company, the greater the ramifications when that trust is broken. This means business leaders have every incentive to develop strong ethical standards and cultures.

Empowering businesses

One university is looking to empower smaller businesses through a new open-access website. The University of St. Thomas recently launched the Business Ethics Resource Center (BERC), with U.S. Bank as the founding sponsor. The BERC is part of the university’s Center for Ethics in Practice in the Opus College of Business and provides practical resources for small and midsized businesses, focusing on ways they can develop ethical leaders and cultures.

Resources include videos, articles, toolkits, example plans and other multimedia assets that can help companies promote ethical conduct as part of their core mission. The BERC is designed to help time-strapped business leaders develop and sustain a strong ethical culture within their organizations and realize the inherent benefits that come along with that.

The benefits of ethics

While it’s difficult to determine the true cost of developing an ethical culture within your organization, it’s clear there are a number of tangible benefits. For starters, practicing ethics can help you avoid costly legal issues while enhancing your company’s reputation. It will also help you build customer loyalty, with 80% of customers saying they are more loyal to a company with good ethics, according to a recent survey from Salesforce. The same qualities that attract customers will also increase your ability to attract and retain outstanding employees. When you’re able to establish ethical standards as the foundation of your company values, you foster a more positive, meaningful work culture for your employees.

Promoting ethical conduct and compliance doesn’t have to be expensive. By utilizing the resources available and cementing strong ethical standards as a critical part of company values, businesses can establish an ethical company culture that benefits everyone involved.

2019-07-08T10:01:00

(BPT) – Cash flow is the lifeblood of a business. Positive cash flow means your business is in a position to grow, while negative cash flow may mean you have some tough decisions to make, like whether to pay your employees, vendors or yourself.

Small business owners and the self-employed should always be aware of their cash flow status. Having enough money on hand can dictate your next decision, ultimately having a big impact on the future of your company and its survival. Navigating cash flow struggles can cause even the calmest person to worry.

The importance of working capital

Every business requires and expects its funds to carry out its day-to-day operations. This includes things like the purchase of raw materials and payment of wages. These funds are called working capital.

Working capital and a healthy cash flow are some of the most crucial aspects for any small business to thrive and be successful. Unfortunately, 61% of small businesses around the world struggle with cash flow, according to “The State of Small Business Cash Flow” report by Intuit QuickBooks. More than two in five U.S. small business owners have experienced cash flow issues in the last year, and more than 52% have lost $10,000 or more by forgoing a project or sales specifically due to issues created by insufficient cash flow.

A smart funding option

Despite the obvious need, it can be difficult for small businesses to access working capital. According to the 2019 Small Business Credit Survey, 64% of employer firms faced financial challenges in the prior 12 months and more than two-thirds of owners addressed these challenges by dipping into their own personal funds. When looking at the 43% of firms that applied for external sources of funding, less than half of the pool of applicants received all the funding they needed.

If you’re an entrepreneur, one option you should consider is QuickBooks Capital, an innovative lending product that provides small businesses which have traditionally struggled to demonstrate their credit worthiness to access the funding they need to grow. How does QuickBooks determine credit worthiness? Through breakthrough data science and machine learning, QuickBooks assesses a business holistically and gives small businesses credit based on a complete view of their books, including ongoing projects, outstanding receivables and more. In fact, 99% of QuickBooks Capital customers said it was “easy to apply” because QuickBooks Capital already had the relevant information needed for the application.

With competitive rates, a simple application and no extra fees, QuickBooks Capital is a great option for the 4.2 million small businesses that are already QuickBooks subscribers. Plus, businesses can see funding options without a commitment, and there are no extra steps to determine how large of a loan you are eligible for — it’s all right there when you log in to your QuickBooks account

In the last 18 months, QuickBooks Capital has funded $360 million in loans to small businesses. Eligible small businesses can now get working capital loans of up to $100,000 for a 12-month term and most loans fund in two business days after approval. Overall, 90% of QuickBooks Capital borrowers have said the funds they received helped them grow their business by allowing them to expand their marketing efforts, meet operating expenses and much more.

If you’ve conducted an analysis of your business cash flow, and see that access to some working capital would be helpful — empowering you to take on a new project or hire a new employee — consider QuickBooks Capital as a source of funding. For more information on QuickBooks Capital, see online here, and also check out the brand’s helpful guide on ways to increase cash flow.