Once you have your code, checkthe SBA websiteto determine the small business size standard that applies to your specific NAICS code. Each industry has different standards for what qualifies as “small.” This standard will help you determine which contracts to bid on, as some contracts are onl...
The first step to optimizing your spending is to determine the MCCs of the stores you frequently shop at. Investing a little bit of time into finding the store that rewards you the most can deliver an excellent return with cash back. To get started, simply do an MCC code lookup and deter...
The SIC code system remains the most widely used industry classification system. The NAICS code system has been unable to fully replace it due to the SIC system's long history, and the reluctance of businesses and other organizations that have been long-term users of SIC codes to switch over...
When you visit any website, it may store or retrieve information on your browser, mostly in the form of cookies. This information might be about you, your preferences or your device and is mostly used to make the site work as you expect it to. The information does not usually directly ...
However, it’s important to evaluate your specific business needs and consult with professionals to determine if an LLC is the right fit for you. The ease of conversion and the specific advantages may vary depending on your state’s regulations and individual circumstances. Now that we’ve ...
How To Get an Alabama Business License Learn how to determine your licensing requirements and apply for the licenses you need to operate a business in Alabama.On this page What is a business license? Types of business licenses required in Alabama How to get a business license in Alabama Alabam...
Agency submits the Offer Letter or Proposed Project for 8(a) Program form to:US Small Business AdministrationAttn: Gregory Kolean, BDSFax: 907.271.4545Email: gregory.kolean@sba.govReview Company’s Status. The assigned BDS reviews the 8(a) firm’s status to determine its eligibility to rec...
Determine your product’s market price:If you’ve done your homework, you probably already have an idea of what potential income your new product might generate. Now, it’s time to calculate specifics. Research the average market price of similar items, forecast your audience size, and gauge...
The calculation for second draw loans is similar to first draw loans with one exception: if your business has a NAICS code beginning in 72 (which is generally food service and accommodations businesses) you may qualify for a loan of 3.5 times average monthly payroll. Other businesses will qua...
As a small business owner, your personal credit score will often be a part of an evaluation of your creditworthiness. This is especially true for younger businesses or those without significant revenues. That’s because lenders are trying to determine whether you are likely to make payments on ...