Category: Brandpoint Business & Finance

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.

2019-07-03T06:01:00

(BPT) – Shopping. Cooking. Cleaning. The burdens of living alone were taking a toll on Joyce, who at 89 was the oldest resident in her apartment building. Though she’d spent a lifetime saving money, Joyce wasn’t sure what she could afford. Her daughter Sandy knew it was time to talk about senior living.

“It took some convincing to help her understand this was what she had saved for,” said Sandy. “With the sale of her house and retirement savings, she could live comfortably in independent senior living. Plus, she would be around people her age, have plenty of activities and three nice meals a day.”

Joyce’s senior living journey isn’t unique. Most people are either not prepared for the potential costs of senior living, or think they’re not prepared. A survey of 2,000 Americans 18 to over 51 for Brookdale Senior Living revealed 65% aren’t saving money to pay for senior living, and 21% said they won’t be able to pay for it or don’t know how they’ll pay for it. Only half said they have a plan in place.

Mary Sue Patchett, Brookdale’s executive vice president of community and field operations, recommends avoiding sticker shock by assessing current expenses. You may find that freeing yourself of expenses tied to living in a house — mortgage, food, transportation, utilities, home maintenance and more — and incorporating these into one payment for a senior living community is more cost-effective than expected.

Patchett recommends seeking a flexible pricing structure at a senior living community, as one size does not fit all. Making a choice that fits your situation means you won’t be paying for unnecessary services.

Sandy found two locations that fit her mom’s needs and compared costs of living alone to the cost of senior living. They landed on a Brookdale community near Sandy’s home.

“Adult children must understand their parent’s misgivings and help them decide what’s best,” said Sandy. “Considering my mom’s age, senior living was a smart move. The cost is comparable to living alone and provides peace of mind for everyone. We know she is eating, socializing and safe.”

How do people pay for senior living, and how can you keep costs affordable?

Current assets and income are what most people use to pay for senior living, just as they would pay for expenses staying in their current home: savings, pension or retirement plan funds, social security and annuities. Like Joyce, one big source of funds comes from the sale of their current home.

Long-term care insurance is a possible source for those with chronic disability or illness, if they have a policy. Rules regarding benefits and eligibility vary per state and policy.

Veterans’ benefits, through the Veterans Aid and Attendance Pension, can help veterans and spouses offset costs of long-term care and/or assisted living at some communities.

Selling or cashing out a life insurance policy may be one route for those who no longer need life insurance. There are many options, so you should shop around. Consult your tax, financial and legal advisors to determine the implications of this option.

Medicaid options may provide some assistance for assisted living, depending on where you live and if you qualify. Do not confuse Medicaid with Medicare, which does not cover assisted living costs.

Family support is another source to consider for help with the cost of assisted living. In many families, children or other family members contribute to the cost of senior living. It’s best to discuss possible support with family before the need arises.

By selecting a senior living community that provides just the amount of care you need, you can keep costs low. Many communities offer options from apartments with kitchens and guest rooms to just a bedroom and bath. Opting for a roommate can save a lot. Senior living communities offering independent and assisted living or other care services on one campus helps couples stay together, even when they need different levels of care, and make it easier to move from one area to another if needs change.

Now is a good time to assess your situation and talk with your spouse or family about your needs and desires down the road. Planning ahead lets you tour communities and decide what services and amenities you want and need.

Forty-eight hours after Joyce moved to Brookdale, she was thrilled with her decision. Sandy immediately noticed a change in her mom. She met a group of ladies she refers to as “the girls” and quickly found her purpose as the community librarian. She’s happier than she was in her apartment, and according to Sandy, that makes it worth every penny.

For information about Brookdale Senior Living, visit brookdale.com/en/where-to-begin/financial-considerations.html.

2019-07-02T09:01:00

(BPT) – If you’re in the market for a new vehicle, consider purchasing one you can make your own. While just about any vehicle can be transformed with a few simple products, certain makes and models are more accessory-friendly than others.

Every year the Specialty Equipment Market Association (SEMA) recognizes the most accessory-friendly vehicles during the annual trade-only SEMA Show in Las Vegas, Nevada. SEMA Show exhibitors, who make the products and accessories for today’s popular models, vote to honor the vehicle platforms they believe are best for accessorizing.

SEMA Vehicles of the Year awards are presented in five categories, including car, truck, 4×4/SUV, sport compact and powersports vehicle. These vehicles are embraced by the industry due to their ability to help showcase and launch new aftermarket parts.

SEMA Car of the Year: Ford Mustang

The iconic Mustang added to its legacy as one of most popular cars of all time for vehicle enhancement by winning the award again. Whether you’re adding LED headlights or a new exhaust system, both the appearance and performance can be easily upgraded on the modern muscle car. On and off the track, this vehicle continues to be reliable, customizable and in high demand among consumers today.

SEMA Truck of the Year: Ford F-Series

The Ford F-Series is one of the most popular lines of trucks on the market, and it’s one that offers unlimited versatility. Ford F-Series trucks can be easily upgraded and transformed into a bold, new ride by adding products like protective bed covers, running boards for easy access or a new air intake system for instant power gains.

SEMA 4X4/SUV of the Year: Jeep Wrangler

Due to the many different ways you can turn it into the ultimate off-road ride or personalize it as your everyday vehicle, the Jeep Wrangler was named the most accessory-friendly vehicle in its category for the ninth consecutive year. A favorite of the off-road community, the Wrangler is known for its unique styling and accessibility to aftermarket lift kits, off-road or all-terrain tires, hood mounts and fender flares, among many other products.

SEMA Sport Compact of the Year: Ford Focus

SEMA Show exhibitors, who are at the forefront of the automotive aftermarket industry and have the unique ability to identify the hottest vehicles emerging for future trends, honored the Ford Focus for the fourth straight year. Whether it’s a body kit, wheel/tire package or suspension and steering systems, a Focus can be easily transformed into the ultimate tuner ride.

SEMA Powersports Vehicle of the Year: Polaris RZR Turbo S

The Polaris RZR Turbo S won the first-ever award presented to a vehicle in the powersports segment. The RZR is a great new vehicle for enthusiasts to discover the thrill and excitement of off-roading, and it lends itself to customization, enabling owners to easily personalize it to their desired preference.

SEMA Vehicles of the Year Awards heighten awareness for aftermarket products, and they are an example of the industry’s partnership between automakers and aftermarket manufacturers. SEMA Show exhibitors who select the award winners are manufacturers of products designed to improve performance, safety and convenience, as well as those that enhance appearance and comfort. To learn more about these vehicles and past award winners, visit www.semashow.com/semaaward.

2019-06-25T07:01:00

(BPT) – Having a bank account is the start to being truly in charge of your finances, including managing payments and getting paid. If you’ve never had a bank account before, or you’ve struggled with keeping one in the past, you have options.

Here are three reasons why having a bank account matters:

Saving on fees

When you get a check, is it a pain to cash it? Whether it’s from a relative or an employer, if you don’t have a bank account, you probably have to go through extra steps and pay fees to cash it. With a bank account, you can easily cash your check without the extra fees and can even take advantage of direct and mobile deposit, so your check automatically goes into your account without having to visit a branch. It’s not only convenient, but you’ll save money because you won’t have fees stacking up with each check when you get paid. That can amount to hundreds of dollars per year!

Paying bills

Another issue people without bank accounts face is how to pay their bills. It’s difficult and even risky to carry around large amounts of cash so you can pay things like rent, groceries and child care. In addition, electronic and digital payments are increasingly preferred by many, and are a more secure alternative to paying with cash.

A bank account that has a debit card allows you to easily pay your bills virtually anywhere at any time. Setting up rent or your electric bill to be automatically paid electronically at the start of the month helps you eliminate costly late fees. Pay in one swipe at the store for easy and fast checkout.

Staying on budget

Overspending can often trigger overdraft fees. However, some accounts do not charge overdraft fees. These accounts make it easier to stick to your budget and avoid overspending and overdraft fees altogether.

One example to consider is Chase Secure Banking, a simple and low-cost alternative to a standard checking account. With no minimum deposit to open and no paper checks, the account is designed to ensure you only spend what’s available in it, so you’ll never be charged overdraft fees. No more worries about when a check will go through and if it will bounce. You only spend what you have, making staying on budget simple.

Chase Secure Banking comes with all the benefits and perks of being a Chase customer, like fast access to thousands of fee-free ATMs, the mobile app, the ability to send and receive money and support from bankers in person or over the phone. Learn more at www.chase.com/SecureBanking.

Bottom line

Getting a bank account can help you gain money confidence and take more control of what you earn and spend. You can use your money like you want to, without extra steps, hassles or unnecessary fees. Take control of your finances and consider your options today.

2019-06-24T08:01:00

(BPT) – We all want to find both essentials and fun products easily — with lots of variety — and get them delivered fast, and for free. This summer, spend more time with friends and family and less time shopping. Prime Free One Day ensures members can find last-minute birthday presents, sunscreen and beach towels for an impromptu getaway, as well as closet organizers and cleaning products — all delivered the very next day.

Amazon is in the process of expanding one-day delivery with Amazon Prime. Today, Prime Free One Day is available to members with no minimum purchase amount on more than ten million products, coast to coast. Millions of members are already noticing and enjoying free one-day delivery right to their door, garage and even to their car.

Here are some questions we asked about Prime Free One Day.

Where is Prime Free One Day available today?

Prime Free One Day is available on ten million products, coast to coast, and customers across the U.S. may have already noticed expanded one-day selection when they shop. In fact, Amazon customers in thousands of cities and towns across 44 major metropolitan areas already have access to millions of items with free same-day delivery.

What products are available for one-day delivery?

Over ten million products are available for one-day delivery and the selection is continually increasing. Amazon’s vast selection varies from the best of Amazon entertainment to everyday necessities like diapers, apparel and household items, as well as consumer electronics and more.

How is one-day delivery made possible?

Amazon has built its network for more than 20 years, growing it to include 110 fulfillment centers, 40 package sorting centers, 100 delivery stations and 20 air gateways — all to be closer to customers. This network allows the company to deliver orders faster and more efficiently.

What one-day delivery options does Amazon offer?

To make delivery even more convenient, Amazon offers multiple package pickup and return options, including Amazon Locker and Amazon pickup locations in towns and cities across the U.S. Other delivery options even include in-garage, in-car and in-home deliveries using Key for Amazon.

Amazon obsesses over making customers’ lives easier, better and more fun with Prime. In fact, Amazon customers in thousands of cities and towns across 44 major metropolitan areas already have access to millions of items with free same-day delivery. Simply look for items marked as eligible for delivery today, order before lunch and get them by bedtime. For delivery in a matter of hours, members can also use Prime Now to receive grocery delivery from Whole Foods Market in nearly 90 U.S. metros, or grocery pickup in as little as 30 minutes in 30 metros, with more to come in 2019.

To learn more about Amazon Prime or start a free trial, visit amazon.com/prime.

2019-06-20T08:01:00

(BPT) – Total student loan debt has surpassed $1.5 trillion, with 4 in 10 students carrying over $30K in outstanding student loans. Getting accepted into college or graduate school is an exciting time for students and parents. As college continues to get more expensive, determining how you’ll fund your education is a big decision. Review these tips to help keep costs down as you navigate this exciting time in a student’s life.

Stay in state

Consider attending school near home. In-state tuition is much less expensive than attending school out of state. Plus, you’ll save on transportation — and even room and board if you live at home. Public universities are also generally more affordable than private universities.

Additionally, you might be able to save on tuition and related costs by taking classes at a local community college before school begins or during summer breaks. Be sure to confirm that the credits will transfer to the college or university of your choice prior to enrolling in these community classes.

Take advantage of financial aid

Some students and parents are able to finance college or graduate school with their savings, while others may qualify for federal student loans, grants, scholarships and work-study programs.

“A student loan is often the first loan product for a young borrower,” said Carrie Foran Sepulveda, manager of education lending at Navy Federal Credit Union. “It can have a significant impact on their post-school financial life, so it’s important to do your due diligence and explore all of your financial aid options.”

If your student aid award or the federal student loan amount granted to you doesn’t cover all your college expenses, private student loans can help fill the gap. For example, at Navy Federal Credit Union, members can apply for student loans with variable rates as low as 5.32% APR or fixed rates as low as 5.99% APR with automatic payments — both for 10-year terms, up to the school-certified cost of attendance.

“We give a 0.25% interest rate reduction by signing up for automatic payments,” added Foran Sepulveda. “This is a great way to establish good financial habits that will help you build your credit history while you’re in school.”

Whether you choose federal or private student loans, make sure you fully grasp the loan’s terms, conditions, and repayment requirements.

Gain college credits in high school

If your high school offers Advanced Placement (AP) programs, you may be able to receive college credits at no cost or test out of some requirements — saving money that would have been spent taking the class during college. Check with the school for their rules on granting AP credits.

Earn money while in school

Apply for on-campus jobs if you have work study granted to you by the school, or look for part-time jobs off-campus to earn extra cash. During school breaks, consider finding a job with full-time hours, but on a short-term basis, to make the most of your time off.

Whether you’re a student or a parent, paying for your education can be doable with these tips in mind.

2019-06-18T06:01:00

(BPT) – Getting promoted into a leadership position or taking on a management role can be extremely exciting and anxiety-provoking. You want to do a great job and be as prepared as possible for the new position. The unfortunate truth is, many new leaders or first-time managers run into challenges almost immediately. That’s because in many cases, the things that made them successful in the past will not make them successful managers. To excel as a new manager, you need to adopt a new mindset and attitude, as well as communication and leadership skills.

Here are some of the things you can do to avoid mistakes and thrive in your new role.

Think like a leader

Chances are, you were selected for your new leadership position at least in part because you were so good at getting things done in your previous role. While you might feel increased pressure to continue and even exceed that performance now that you’re a manager, experts say you actually need to let go of that way of thinking.

Leading professional training and development company Dale Carnegie offers a training course specifically designed for new leaders. Experts who run the course say they often find that new leaders struggle to shift their mindset from being an individual contributor to a facilitator empowering others to do their best work. In short, you need to stop focusing on “doing” and start focusing on “leading.”

One of the best things you can do to position yourself for success is to constantly reflect on your responses to workplace situations. Ask yourself, “Am I responding like a team member or a leader?” This reflection can help you achieve a new level of self-awareness, which in turn will allow you to make better decisions and excel as a manager.

Focus on others

The success of any team leader or manager depends on the success of the team they oversee. Your team members should be your first consideration as you decide how to navigate your responsibilities, especially when it comes to implementing policies or strategies coming from the C-suite level. Think about all the ways you can provide effective feedback, coaching, support, guidance and motivation to help team members achieve their goals.

You also now play a critical role in driving and maintaining employee engagement. Research from Dale Carnegie shows that the manager-employee relationship is one of the most important factors in fostering an engaged workforce. To create that kind of team culture, you need to go beyond having a few positive interactions with team members. You need to make those interactions a daily habit, prioritizing your time to develop meaningful relationships with your team.

Hold yourself accountable

As a manager, you’re accountable for your team and the work they produce. It’s your job to ensure that they’re consistently meeting deadlines, hitting targets and completing projects. To do this, you need to set clear expectations for each team member and maintain that clarity even as things get messy during the natural course of business.

As much as you need to hold your team accountable, being a successful manager also means you need to hold yourself accountable as a leader. To do that, you really need to focus on your communication style, and make sure that you aren’t letting people off the hook or creating other barriers to accountability. This doesn’t mean you need to be a tyrant. It just means being clear and direct in your communication and understanding that you aren’t doing yourself or your team any favors by letting things slide. If you can adopt a leader’s mindset, constantly consider how your actions affect the team and remain firm in your commitment and expectations, you’ll be well on your way to being an effective new leader.

2019-06-13T09:01:00

(BPT) – Whether you’re one of the nearly 100 million Americans planning to take a family vacation this year, according to a March 2019 AAA report, or embarking on a solo trip this summer, traveling can take a toll on your wallet. From transportation to accommodations, planning ahead can save you time and money on your much-deserved vacation.

Here are a few simple travel tips to help you save more for what you travel for.

Be strategic with timing.

A great way to save money is by traveling on less popular days of the week for trips. Tuesdays and Wednesdays are known for being days less traveled. Consider leaving a day or two early to avoid peak travel and save big on hotels and airfare.

Hit the road.

Save money this summer by taking a good old-fashioned road trip. AAA found half of traveling families expect to take a road trip this year. Not surprising when you factor in airline baggage fees, overpriced airport food and layovers. Don’t have a car? Consider renting one or seek out ride share options for shorter distances.

Stay cool by the pool.

Skip the waterpark lines and fees by staying somewhere with a pool. The majority of Motel 6 locations offer swimming pools that give parents the relaxing vacation they want and the fun their kids crave. BYOF (bring your own floaties)!

Bring your pet.

Avoid the cost of cat sitters and doggy daycares by bringing your furry friend on the road. If you stay at a pet-friendly rental or hotel like Motel 6, your pet can stay free of charge — saving you more money for the adventures you (and your pet) travel for.

Pack light.

If you are flying, take a Marie Kondo approach to packing to avoid extra baggage fees, which typically range from $30-100. Chances are, the 15 outfits you have planned will not all bring you joy on your seven-day trip. Weigh your bags at home to avoid surprises at the airport.

Live the suite life.

Save on restaurant expenses by booking an extended-stay hotel, which features suites with full kitchens and other amenities. In a suite you can conveniently cook food on your own, avoiding the expensive tab often associated with dining out.

2019-05-29T08:01:00

(BPT) – Flag Day is celebrated every year on June 14 to commemorate the adoption of the U.S. flag on June 14, 1777, by resolution of the Second Continental Congress. After decades of state and local celebrations across the country that date as far back as the early 1900s, Flag Day was officially established by President Woodrow Wilson in 1916. However, the designation was not written into law until 1949 when President Harry S. Truman signed an Act of Congress officially establishing June 14 as Flag Day.

In advance of its 100th anniversary this year, the American Legion Auxiliary (ALA) will celebrate Flag Day with pride, but the organization — which has been around since there were only 48 stars on the flag — believes the American flag should fly high and proud throughout the year and be celebrated every day. It symbolizes the pride of our nation and serves as a constant reminder of those in the military who fight to protect our country and our freedom.

The flag has led our troops into battle, inspired creativity and patriotism, and has served as a symbol of our country, our form of government and our freedom for more than 240 years. It has withstood difficult weather conditions and unimaginable assaults and remains flying outside our businesses, our schools, our government buildings, at our outposts around the world and on the moon.

It is strong and resilient, just like the American people. In a world with so much unrest, our flag serves as an enduring reminder of our strength and the privileges of freedom and stability we enjoy in the United States.

On Flag Day, take time as a proud American to show your patriotism, your strength and your support for the veteran community by celebrating our nation’s flag the right way. As you raise your Old Glory this Flag Day, remember these simple U.S. Flag Code rules:

• When hoisting or lowering the flag, salute or place a hand over your heart.
• Display the flag vertically from sunrise to sunset, whether indoors or outdoors.
• The flag should not be displayed on rainy days, unless it is an all-purpose flag.
• When lowered, the flag should never touch anything beneath it.

Flag Day is a perfect opportunity for Americans to demonstrate their patriotism by supporting our veterans, military and their families. Celebrating those who serve our country is core to the American Legion Auxiliary’s values and the central focus of the organization’s activities. For nearly a century, the organization has been honored to serve, educate and support those who serve our nation in the military. Last year, ALA members donated 5 million hours of community service to our nation’s veterans. Members contribute time and funding to advocate on veterans issues, mentor youth, award scholarships, support shelters for homeless veterans and volunteer at local U.S. Department of Veterans Affairs hospitals.

To learn more about celebrating Flag Day and flag etiquette, visit ALAforVeterans.org.