SCORE Foundation

Exploring 'Buy Now, Pay Later' for Small Businesses Small businesses are increasingly adopting the 'Buy Now, Pay Later' (BNPL) model to attract customers and boost sales. According to a recent article from the U.S. Chamber of Commerce, BNPL offers both opportunities and challenges for small businesses. Here are the pros and cons: Pros: -Increased Sales: BNPL can drive more purchases by offering customers flexible payment options. -Customer Acquisition: Attracts budget-conscious customers who prefer spreading out payments. -Improved Cash Flow: Immediate payment from BNPL providers enhances cash flow management. Cons: -Transaction Fees: Small businesses may face higher fees from BNPL providers. -Customer Debt Risk: Potential for increased customer debt and potential defaults. -Complexity: Managing multiple payment options can complicate accounting and operations. For companies selling to small businesses, it's essential to educate your clients on how BNPL can impact their operations.  Stay informed and help your clients leverage BNPL effectively. Read more about the pros and cons here:  https://lnkd.in/eM8DdVZw #smallbusiness #SMB #Startup SCORE Foundation

Explore what’s to come in the business world and the career opportunities that the next business trends may bring. https://lnkd.in/e7zv79ij

Understanding the Importance of Small Business Insurance Ensuring your small business is properly insured is crucial for long-term success. According to a recent article on Forbes, small business insurance provides essential protection against various risks, helping businesses thrive even in challenging times. Here are some key takeaways: Wide Coverage Needs: 44% of small business owners believe they need to protect themselves from lawsuits and liability claims. Risk Management: 30% of small businesses face risks related to property damage, theft, or loss. Employee Protection: Workers' compensation is a must, with 19% of small businesses experiencing employee injuries or illnesses. Financial Stability: Proper insurance coverage helps mitigate financial losses, ensuring business continuity and stability. For companies selling to small businesses, educating your clients about the importance of comprehensive insurance coverage is vital. Offering tailored insurance solutions can help them safeguard their operations and focus on growth. Stay informed and make sure your clients are protected. Read more about small business insurance statistics and trends: https://lnkd.in/gFvZg7Y8. 

Embracing the Cloud: Transforming Small Business Operations Cloud computing is revolutionizing small business operations, offering numerous advantages that drive growth and efficiency. According to an insightful article on SocPub, here are some key benefits: Cost Savings: Cloud solutions eliminate the need for costly on-premises infrastructure, reducing both capital expenditure and operational costs. Scalability: Businesses can easily scale their operations up or down based on demand, ensuring flexibility and agility. Enhanced Collaboration: Cloud-based tools facilitate real-time collaboration and communication, improving team productivity and cohesion. Data Security: Reputable cloud providers offer robust security measures, safeguarding business data against breaches and loss. For companies serving the small business market, integrating cloud solutions into your offerings can provide your clients with the tools they need to succeed in today's competitive landscape. By leveraging the cloud, small businesses can focus on innovation and growth, rather than being bogged down by IT concerns. Read more about how cloud computing can benefit small business operations: https://lnkd.in/eq6DrqmX.  Let's help small businesses harness the power of the cloud!

SCORE Foundation extends its gratitude to Visa for sponsoring the SCORE webinar: “Protecting and Growing Your Small to Medium-Sized Business.” The webinar provides small business owners with actionable tips to boost revenue and tactics to prevent fraud. Your support in empowering small businesses with valuable insights is greatly appreciated. Visa https://lnkd.in/gaknikJJ

Boosting Small Business Cybersecurity: The Need for Default Security in Products In today's digital age, small businesses face increasing cybersecurity threats. An insightful article from Dark Reading highlights a critical need: default security in products. Key points from the article: Rising Threats: Small businesses are prime targets for cyberattacks due to often having weaker security measures. Default Security: Implementing default security features in products can significantly reduce vulnerabilities and protect businesses from common threats. Call to Action: Tech providers must prioritize built-in security to safeguard small business operations and data. For those of us serving the small business sector, it's imperative to champion and support the integration of robust security measures in your products. By doing so, you help create a safer digital environment for small businesses to thrive. Read more about the importance of default security: https://lnkd.in/gAXHKNhA #smallbusines #Entrepreneur #startup SCORE Foundation

Supporting Black-Owned Businesses: A Call to Action for Black Business Month As we approach Black Business Month in August, it's essential to recognize the unique challenges Black-owned businesses face. A recent Forbes article by Lenwood V. Long, Sr. highlights a critical issue: access to capital. Black-owned businesses often struggle to secure the funding necessary for growth and sustainability. This disparity hampers innovation, job creation, and economic progress within the Black community. Key insights from the article: Access to Capital: Many Black entrepreneurs face systemic barriers in securing loans and investments, limiting their ability to scale and compete. Economic Impact: Supporting Black-owned businesses contributes to broader economic growth and community development. Call to Action: Financial institutions, investors, and corporations must step up their efforts to provide equitable financial support to Black entrepreneurs. If you are a company selling to small businesses, this is your opportunity to make a difference. By fostering inclusive practices and providing tailored support, you can help bridge the funding gap and empower Black-owned businesses to thrive. Let's make Black Business Month a time of meaningful action and support. Read the full article for more insights: Https://https://lnkd.in/e7UbYdWj

Enhancing Small Business Cybersecurity with Chatbot Technology Navigating cybersecurity can be daunting for small businesses. These AI-driven tools are revolutionizing how small businesses manage their cybersecurity, providing real-time assistance and guidance. Chatbots offer several key advantages: Cost-Effective Protection: Small businesses often lack the resources for dedicated cybersecurity teams. Chatbots deliver affordable, on-demand support. 24/7 Monitoring: Constant vigilance is essential in the digital age. Chatbots ensure businesses are protected around the clock. User-Friendly Interface: Simplifying complex cybersecurity tasks makes it easier for small business owners to implement robust protection measures without needing extensive technical expertise. When selling to small businesses, it's crucial to understand and support their cybersecurity needs. Integrating chatbot technology can enhance your service offerings, helping your clients stay secure in an increasingly digital world. Read the full article to learn more about this innovative approach to small business cybersecurity: https://lnkd.in/e6wnbuab. #smallbusiness, #entrepreneur, #cybersecurity SCORE Foundation

SCORE Foundation would like to extend gratitude to the Global Atlantic Financial Group, Glenn W. Bailey Foundation, LPL Financial Foundation and Principal Financial Group for their invaluable support as sponsors of the SCORE Small Business Pitch Competition Series this summer in celebration of SCORE’s 60th Anniversary.  Global Atlantic Financial Group

SCORE Foundation salutes the National Bankers Association with the collaboration of Wells Fargo, for the underwriting support of SCORE training programs aimed at boosting financial knowledge and skills of black and minority business owners.  National, virtual workshops and articles focus on topics including money management, credit improvement and capital borrowing readiness. We thank you for empowering entrepreneurs to succeed nationwide! #blackbusiness #minorityfounders #financialacumen #smallbusinessowners #Minorityfemalefounders Christopher White Antoine Verdeaux Cheryle Thorne-Harris Jim Cohen National Bankers Association