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LGBTE BUSINESS CERTIFICATION
Have You Considered Government Contracting for LGBT Entrepreneurs?
You’ve got a thriving business and you’re ready to expand with government contracts but not sure how to make that happen. One of the best ways to get on the radar for federal procurement activity is to become a certified LGBTBE, business. According to the National Gay and Lesbian Chamber of Commerce, “By becoming a certified…
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How To Apply for Small Business Grants
SBA.gov Small Business Administration is providing grants on the federal, state and local government levels to help anyone who is interested in becoming an entrepreneur.
Get more info here: http://www.sba.gov/content/find-grants
Meet the Lenders - March 21st.
Meet the Lenders – March 21st.
From the Small Business Administration:
Meet the Lenders – March 21
WHEN: Friday, March 21, 2014 TIME: 10:00 a.m. – 1:00 p.m. WHERE :300 Littleton Road, 3rd Floor Classroom 5 Parsippany, NJ 07054 (Directions)
If you are looking to finance your business, come join the SBA and the Northwest Jersey Small Business Development Center on Friday, March 21, 2014 and Meet…
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Top 2 Reasons a Surety Bond is a Small Business Need
For anyone with a small business, staying competitive can be a big challenge. There are plenty of obstacles to your success including striving to overcome personal challenges, getting past any barriers to entry in your marketplace and making sure you have anticipated every eventuality. Unfortunately, there are always things that come up that you can’t control and they can impact a contractor’s ability to perform. This is where a surety bond can be a big part of any small business.
What is a Surety Bond?
A surety bond is an agreement that creates a legal contract for one party to guarantee the work stated in a contract of another party to a third party. They are basically creating a "bonding insurance" policy to give the company buying the service or goods a way of making sure that the service is delivered the way it is stated in the agreement, and generally within the timeframe stated.
In a surety bond, the obligee is the company or person that is looking to have the service or work completed and needs this guarantee in order to do business with them. The principle is the company or person that is offering the goods or services and is using the third party to guarantee that this will be done in the manner agreed upon.
How Surety Bonds Help Small Businesses
For many small businesses, having an ability to offer a surety bond means that they can enter into marketplaces they may not be able to risk without one. Without the cash flow or credit to cover any losses from actions outside of their control such as a vendor not fulfilling an agreement or suddenly being short staffed for a specific project, many small companies simply could not compete without one. The smallest of changes can have a huge impact on a small business so having a surety bond can make the difference between success or failure, or even create a business opportunity they might otherwise lose
Many small businesses need a surety bond in order to be licensed. This can result in a company being unable to pursue a type of business where this kind of bond is required for safety or security reasons. In the end, the bond is a way for many small businesses to create an atmosphere of trust. A surety bond opens up new possibilities for many small businesses and allows them to improve or stretch into new areas of growth. It can be the door of opportunity for a small business that might find these possibilities just out of reach without it.
