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Business owners are always looking for new opportunities to network and meet other small business owners and expand their business network. One great way to do this is to become a member of your local Chamber of Commerce! Many small businesses increase their business exposure and grow revenues through involvement in the Chamber. Here are some […]
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Most business owners have spent most of their life building their business and not so much time figuring out who will take over when it’s time to slow down. Transition planning requires careful thought as to who will lead the company you worked so hard to build. Your life’s circumstances will redefine your plans and […]
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Simply put, SBA loans are federally guaranteed commercial loans. The Small Business Administration (SBA) is an independent agency of the Federal Government that assists small businesses in many ways, including setting guidelines for SBA loans and backing them with a guarantee. An SBA loan is made through a commercial bank, such as Webster Bank, and […]
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As a small business owner, you balance the ability to quickly solve short-term problems while realizing long-term goals. That’s why we’d like to offer a new perspective on your goals for the coming year: Don’t plan for 12 months. Plan for 18. You can see the immediate needs ahead for capital: that new piece of equipment, the […]
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As part of Webster Bank’s Specialty Banking Team, I have the pleasure of working with a great mix of clients; some entrepreneurs are just starting out, while others are ‘seasoned’ borrowers. In any case, securing financing for your business start-up or expansion can be a time consuming, frustrating process. However, there are several things you can […]
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A financial Rx for medical practice growth “We’re modernizing our practice and upgrading our technology.” “We’re acquiring another practice and need to fund the purchase price.” “We want to invest in a health franchise.” “We’re expanding our business to offer new services and equipment for patients.” “We’d like to acquire commercial real estate to house […]
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If you’re a woman, and you own a small business or are thinking of starting-up a small business, you should contact the U.S. Small Business Administration (SBA). SBA’s Office of Women’s Business Ownership In 1979, the SBA established the Office of Women’s Business Ownership (OWBO) to foster women entrepreneurs in our economy. OWBO reaches out to […]
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Many volunteer Board of Directors know the challenging responsibilities of managing a condominium/homeowner association. Staying on top of board duties and balancing work and family life can become difficult for some members. This is akin to running a small business enterprise. Below are some useful tips for effective HOA Governance. Review governing documents Knowing and […]
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Most Small Business Owners (SBOs) rely on confidantes or advisors to consult with when making a critical business decision. But how do they determine who is an advisor? For some, a paid partner like an accountant or an attorney makes the most sense. Often SBOs like to talk about their situation with a few different […]
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As part of its commitment to provide customers with practical business solutions, Webster Bank periodically hosts Recess, an invite-only forum designed exclusively for small and commercial business leaders. It invites them to explore, connect, and progress to power their business forward. Are you overlooking your most important resources? Months-long pandemic. Business shutdowns. Mandatory quarantines. Social […]
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