What’s the cost of doing business? For many businesses, answering that question is harder than it seems. The process for handling expenses varies from one business to the next, and many business owners have less control of expenditures than they’d like. This can lead to wasteful spending and other losses, potential cash flow problems, and a greater administrative burden. If you want…
If you’ve built a business or helped it grow, there’s one thing you can take for granted: You’re good at your job. It’s how you’ve gotten this far. But there’s something else you should know too. Amid the economic turbulence and uncertainty surrounding COVID-19, your business’s success depends on far more than your professional expertise. Whether you’re a service provider, farmer, or…
Sometimes, staying highly efficient can come at a price. That’s one of the hard lessons that businesses learned during the early days of the COVID-19 pandemic, when many extra-efficient supply chains temporarily seized up as a result of reduced manufacturing activity, changing consumer demand, and distribution and transportation delays. Global supply chains are more complex than ever, and they’re designed for efficiency…
We understand that small and local businesses were hit especially hard by COVID-19. We also know that community businesses are some of the most resourceful and resilient businesses around. With the right resources and a good strategy, businesses like yours can navigate today’s challenges and come out of them even stronger. That’s why we want to look at what comes next for…
The marketplace is constantly changing. So when it comes to supporting the long-term success of your business, few things are more important than learning to adapt to new market conditions. It’s all about agility. But let’s be honest: Business owners crave stability. After all, once they’ve developed the skills and products to compete in their market, why would they want to continuously…
When business is good and the economy is humming along, business owners have little incentive to change their operations or strategy. But a new crisis has a way of magnifying existing problems. As COVID-19 abruptly ended America’s longest period of continuous economic growth, weaknesses in many companies’ business models became hard to ignore. Coronavirus-related business shutdowns and other disruptions are expected…
The low interest rate environment that currently exists in the United States is a double-edged sword. On one side, it’s an opportunity for businesses to borrow money at a low interest rate making it easier to expand, purchase equipment or invest in new income earning assets. But, businesses with a low leverage (i.e. few loans) or strong cash liquidity are penalized with little or no interest earned on the deposits they keep in bank accounts. The good news is there are opportunities for business owners to maximize earnings on their cash. Ephrata National Bank has compiled a list of 6 opportunities that could result in your money working harder for you.
The financial aid award letter outlines the financial support available to a student and is provided by each school a student has been accepted to, as long as they filled out the FAFSA in the fall. While each award letter contains the same basic information, the formatting may be different. You’ll need to compare the terms, conditions and details of each letter to get the whole picture. In this article, we’ll help crack the code to find the best college fit.
If you’re looking to borrow money, you’re undoubtedly aware that there are many loan options to choose from on the market today. When shopping for a loan, you will notice that loans typically fall into two categories, secured and unsecured. Your borrowing need and financial circumstances will ultimately determine which type is the best fit for you, but it’s also important to understand the basic characteristics of the each loan.
Entering the real world can be overwhelming and confusing, and it’s easy to get behind on expenses if you’re not planning properly. In this article, we’ll show you the warning signs that you’re living above your means and what you can do about it. 1. You’re living paycheck to paycheck. Spending all of your paycheck before the next one shows up is…
