Small businesses are critical to Puerto Rico’s economy—there are over 40,000 small businesses in Puerto Rico, making up 99.7% of all business establishments on the island. The most popular industries on the island of Puerto Rico are retail trade, healthcare and social assistance, accommodation and food services, professional, scientific, and technical services, and other services (excluding public administration). Many of these industries are more susceptible to economic fluctuations and changes in demand than others. Because of Puerto Rico’s remote island location,

Understanding your funding options and applying for the right small business loan for your business can be confusing. Our Industry Funding guides make it easy to compare your funding options and choose the right loan for your business, whether you’re just starting up or are looking to grow an existing business. What You’ll Find in This Guide Restaurant Funding Options What is the Best Loan for Restaurants? How To Use Restaurant Loans How To Apply for Restaurant Loans Frequently Asked Questions

Poor cash flow management is the most common reason small businesses fail, and nearly a quarter of business owners report small business cash flow management and payment collection as one of their top three challenges. In this post, we’ll share 13 actionable cash flow management strategies for small businesses, including: Making cash flow analysis part of of your regular routine Investing in financial management technology Sending invoices quickly Managing inventory Asking for a deposit or milestone payment structure Offering discounts for early payment Making

Understanding your funding options and applying for the right small business loan for your business can be confusing. Our Industry Funding guides make it easy to compare your funding options and choose the right loan for your business, whether you’re just starting up or are looking to grow an existing business. What You’ll Find in This Guide Auto Repair Shop Funding Options What is the Best Loan for Auto Repair Shops?? How To Use Auto Repair Shop Loans How To Apply

MIAMI, Oct. 6, 2022 – Today, Main Street Finance group, a leading fintech providing working capital solutions to small businesses, announced the expansion and restructuring of its credit facility. The facility’s extremely favorable terms with a prominent commercial bank are a testament to the company’s track record and stability in an uncertain economy. Main Street Finance group CEO Jordan Fein states, “We are thrilled that we achieved our strategic capital objective for the year with a newly achieved 4% cost of

Long-term small business funding from lenders like banks and the Canada Small Business Financing Program (CSBFP) have historically been the go-to option for small businesses seeking funding in Canada. But long-term loans aren’t always the best option for your small business—sometimes, short-term small business financing can make more sense. Long-term loans are often ideal for businesses that have established good credit, a strong financial history, and a solid cash flow. Short-term loans, on the other hand, may be a better option

Staffing shortages are challenging small businesses in many industries, primarily in accommodation, food services, and manufacturing. Raising wages and offering more competitive benefits packages can help you attract new talent and retain your existing staff, but there are many other strategies you can consider to boost hiring and reduce the impact of staff shortages, such as automating routine processes or investing in new software or equipment that will help your business operate more efficiently. Many of these strategies require an investment

Seasons change, but for some businesses, one challenge remains the same: seasonal cash flow problems. While many businesses struggle to manage cash flow, several types of businesses may be additionally affected by seasonal fluctuations, such as: Businesses that are weather or season dependent, such as snow removal businesses, landscapers, and some construction firms Businesses tied to tourism peaks or a holiday season Agencies and creative businesses reliant on client budget cycles Businesses tied to specific yearly events, such as accountants at