Ferne Kornfeld’s Blog
How to Determine if Your Business’s Working Capital Management is Efficient
It doesn’t matter if a business is large or small. It is always critical to ensure that the company’s working capital system is working efficiently. Since working capital management is a business strategy (one of many) that strives for efficiency, naturally, that...
Small Business Finance Tips for the Rest of 2021
The last two years have brought many difficulties and changes, especially for small businesses. Those that survived lockdowns and social distancing have done well, but there’s never any harm in being prepared. As such, financial planning must always be a priority....
A Guide to Working Capital
When staying on top of your business’s finances, it’s essential to have a good understanding of what working capital is. Working capital is a vital aspect of a company's financial operations. It shows the difference between the current assets and the current...
Different Types of Debt Restructuring Explained
For both individuals and businesses, there is no scarier word than “debt”. Debt can be unimaginably hard to crawl out of and can take a toll. Luckily, there are options to help those in a bad financial situation get out of debt without completely ruining their credit...
A Guide to Creating a Debt Restructuring Plan
There comes a time for many individuals and businesses where the debt becomes too much. Something has to be done, as the debt is rapidly outpacing the income. Don’t worry; this isn’t always the sign of the end for a business. Businesses can opt to go one of many...
Busting Myths on Debt Restructuring
Many individuals and businesses have had to face some form of debt. Debt is overwhelming and frequently scary, so it is so essential to understand the common myths surrounding different types of consolidation or restructuring. There are dozens of myths surrounding...
Easy Tips for Staying on Top of Your Business’s Finance
Regardless of the size of your business, the managing of finances is ultimately the make or break element. Not only do you need to manage your day-to-day activities, but there should also be money set aside for any emergencies or potential business expansion projects....
Why Debt Restructuring Could be Your Business’s Best Option
While many people will say the small businesses are keeping the “American Dream” alive, they are more than often the most susceptible to falling into debt and closing their doors for good. With so much competition from big-name stores and brands, it has become...
Debt Restructuring in 2021
Taking on debt is a normal part of doing business. The trouble arises when unexpected events occur outside of a typical business lifecycle, such as a pandemic or a recession. The Federal Reserve survey estimates that approximately 70% of small businesses already had outstanding debt before COVID-19. Despite assistance being provided by the government, such as unemployment benefits, stimulus checks, and the ability to defer payments on mortgages and student loans, many businesses and individuals continue to struggle.
Tips for Preventing Debt from Getting Out of Control for Your Small Business
Debt is one of the scariest outcomes of opening up a small business. Small business owners take a substantial financial risk when opening their business, but they know achieving their dream is worth it. To avoid financial struggles and your business going into too...