Month: August 2017
Why and How to Beef Up Your Business Credit Score
Published: June 25, 2012 Updated: September 23, 2016
Do you know your business credit score? Feel unnerved about relying on your personal credit score for business transactions? As a business owner, taking steps to separate your personal and business finances is a smart strategy. Obviously, this means implementing a strategy to build good credit in your company’s name.
What is Business Credit?
Business credit is much like your own personal credit score – it’s a proxy for your business’ ability to repay its debts. When you start a business, this type of credit may not be at the top of your agenda. But as you plan to expand and grow, establishing good business credit will be helpful if you decide to apply for a business loan.
Who Monitors Your Credit?
Business credit, also known as trade credit, is the single largest source of lending and is monitored by business credit bureaus. These bureaus gather data on trade credit transactions and produce business credit reports for the benefit of credit issuers. Credit is measured on a scale of 0-100, with a score of 75 or more being the ideal range.
Good Business Credit Can Open Doors and Bring Many Benefits
Establishing business credit is about so much more than trying to improve your chances of securing a loan. SBA guest blogger and business credit adviser, Marco Carbajo, offers these 10 reasons to start building credit in your business’ name :
1. Protect your personal credit ratings – With corporate credit, your business debts and financial obligations would be reported only on your company’s credit reports—not on your personal reports. As a result, your personal debt to credit limit ratio would not be impacted by the debts of your company.
2. Protect the corporate veil – By separating personal and business credit, you eliminate the risk of commingling funds – and this includes the commingling of credit.
3. Limit personal liability – By building a creditworthy company, creditors and lenders will be less likely to require a personal guarantee to secure financing.
4. Conserve cash flow – Many suppliers, businesses, and vendors will extend credit to your business with net 30-day to 60-day terms. This allows you to conserve cash while obtaining the products and services your business needs.
5. Limit accumulating personal debt – You can obtain financing for your company without supplying a personal guarantee. Funding programs like accounts receivable financing, trade credit, and merchant cards protect you from facing a lot of personal debt.
6. Maximize financing opportunities – Many lenders, creditors, and suppliers will only extend credit to businesses that meet their corporate compliance guidelines. This includes a business credit listing and ratings with the major agencies.
7. Build a business asset – A business with established credit history and available credit is attractive to potential buyers and investors. It improves the appearance of your business’ funding capacity and stability.
8. Limit inquiries – With business credit, you can stop relying on your personal credit to obtain financing, which limits the amount of inquiries being pulled on you personally.
9. Receive larger credit limits – You can obtain 10 to 100 times greater credit limits from lenders as an established creditworthy business than you can as an individual.
10. SAVE MONEY! Businesses obtain more favorable rates on lines of credit compared to an individual. For example, you may pay up to 13% interest on a $100,000 line of credit whereas a business could qualify for an interest rate of 7%. That would save you almost $40,000 in interest alone.
What Affects your Business Credit?
There are many factors that affect your business credit score: payment history, the amount of credit you have available, the age of your credit profile, and even the frequency of inquiries made on your profile.
Steps To Build Credit
More than simply applying for a business credit card, there are some very specific steps you should take to properly build and manage your credit score. This blog explains more: 6 Ways to Establish and Maintain a Healthy Credit Score for Your Startup or Small Biz .
Remember: if you are a sole proprietor, you’ll need to incorporate your business first (this creates a separate legal entity for your business).
About the Author:
HR Training and Education
Certification Programs Strategic Concepts, Not Functional Skills
HCI Certification Programs are designed to change paradigms and provide a new strategic framework for human capital, talent management and leadership. HCI does not teach the type of functional skills found at SHRM, ASTD or other skills-based human capital or industry associations. Our courses teach strategic concepts, illuminate new models, and encourage leaders to think differently about their objectives, priorities, execution and outcomes.
HCI offers a rigorous and challenging curriculum for human capital professionals, talent managers and executives. Each certification program is based on cutting-edge research, best practices and innovative strategies being tested on the front lines of today s talent wars. Graduates complete a pre-class assignment, two-day or three-day course and a rigorous examination that offers reliable proof of learning that will increase their operating effectiveness, personal productivity and leadership skills.
HCI is committed to providing the best educational experience for its members. Industry-leading content experts and instructional designers develop each program to a set of strict standards that ensure a consistent, interactive, effective and engaging learning experience.
HCI offers certifications on a variety of different topics. All of which provide foundational topics in the new business science of Strategic Talent Management.
HCI HCS is the recognized credential for strategic knowledge in talent management, and is an important career achievement for human resources, organizational development, recruitment, corporate learning and line executives.
HCI SWP is the first professional certification in this critical new competency. SWP graduates demonstrate proficiency with workforce planning, as a qualitative decision framework that underlies organizational strategy.
The brand new sHRBP program from the Human Capital Institute is comprised of three day-long sessions, each focused in an area critical to this HR/Business Line partnership.
The new HCI Talent Acquisition Strategist certification teaches and designates the important new set of skills that Talent Acquisition professionals must possess in order to solve challenges and position their organization for success.
HCI’s new certification, Performance Management Innovation (PMI), is designed for the new world of work. It emphasizes critical outcomes like feedback, coaching, goal setting and manager and employee relationships. It is more collaborative, social and faster moving.
All programs include uniquely developed material that synthesizes the latest research, best practices and case studies from HCI s Online Talent Communities
Candidates must have a minimum of three years business experience, or graduate-level business degree, and successfully complete the requirements for certification.
- Complete a pre-class assignment
- Complete the two-day or three-day certification class
- Pass the certification exam at a standard of 75% or greater
Each certification is valid for a three-year period. Renewal is based on continuing education credits that demonstrate currency in the field. Credits may be earned by attending HCI learning events, completing additional courses or through outside educational activities. The accumulation of 60 credits extends the certification for three additional years. For HCS only, you can re-take the 2nd day of the course and re-pass the exam in the last year of certification in lieu of earning credits. For SWP only, you may attend an SWP Alumni Workshop and pass the exam in the last year of certification to recertify your SWP. Please refer to the Education tab of your online profile and download HCI s Recertification Tracker which outlines the requirements for re-certification credits.
Curriculum and Instruction Master – s Degree #masters #in #education #curriculum #and #instruction, #curriculum
Curriculum and Instruction Master’s Degree
In a master’s degree program in curriculum and instruction, you can choose an area of specialization like special education or corporate education. Find out what you’ll learn and discover career options with salary and employment outlook information. Schools offering Education Curriculum & Instruction degrees can also be found in these popular choices.
What Kinds of Curriculum and Instruction Master’s Degree Programs Are There?
If you’re an education professional, you can earn a Master of Arts, Master of Science or Master of Education in Curriculum and Instruction. Both online and on-campus programs are available, and most are designed to work around your current teaching position. This allows you to apply the lessons you learn in your coursework directly to your classroom. Not all programs require you to hold teaching experience, but you’ll need to earn a teaching license if you intend to work as an instructor in a public school.
Master of Arts, Master of Science or Master of Education
Curriculum design, instructional methods, diversity in the classroom, sociological aspects of education, curriculum theory
Fully online programs are available
7% increase between 2014-2024 (for instructional coordinators )*
*Source: U.S. Bureau of Labor Statistics
What Will I Learn?
Courses in a curriculum and instruction master’s degree program will discuss the history and theory of curriculum, instructional methods, diversity in the classroom and the sociological aspects of education. You’ll learn how to evaluate instructional materials and design new curricula. Some programs offer concentrations or areas of specialty, such as special education, early childhood education, corporate education, instructional technology and online teaching. Many programs allow you to complete hands-on assignments that involve research and curriculum planning. Some programs require you to undertake a final research or capstone project, while others ask you to assemble a work sample portfolio.
How Do I Learn Online?
To participate in an online master’s degree program in curriculum and instruction, most schools require you to have a computer with access to the Internet and word processing software. You’ll submit assignments, communicate with instructors, participate in class discussions and access course materials through an online learning platform. Many programs require you to regularly post on Internet message boards. Although classes can all be taken online, you usually need access to a classroom for practical applications.
What Can I Do with My Degree?
While a curriculum and instruction master’s degree program can give you skills that enhance your current teaching job, you can also pursue other career pathways after you earn the degree. Instructional coordinators and curriculum specialists help schools develop curriculum and train teachers. According to the U.S. Bureau of Labor Statistics (BLS), instructional coordinator jobs were projected to grow 7% from 2014-2024 (www.bls.gov ). As of May 2014, the middle 50% of instructional coordinators earned $61,550 annually. You’ll typically need a master’s degree and a teaching or education administrator license to apply for work in this field, reported the BLS.
To continue researching, browse degree options below for course curriculum, prerequisites and financial aid information. Or, learn more about the subject by reading the related articles below:
Digital asset management
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Human Resource Management Certificate
An effective human resource management strategy is a valuable asset to any company, but those running small businesses often cannot justify designating a full-time HR professional to manage employee relations, compensation, policy-making, performance management, and employee appraisals.
This suite of courses will teach you the basics of managing the benefits and policies that support an effective staff. What does an employer need to know about anti-discrimination regulations? What are the key aspects of pay policies? How can employers avoid the traps of the employee selection process? In this suite of courses, you will discover the answers to these and other important questions.
Each 3 to 5 hour, self-paced course offers an assortment of interactive exercises, videos, selected readings, case studies, and self-assessments that will engage you and structure your learning about human resource management.
Our Ask the Expert feature connects you to a network of experts ready to answer any content-related questions you have. You can expect to receive a response within 24 to 48 hours, though some questions are answered the same day they are sent.
Introduction to Human Resource Management
Human Resource Management includes the vital tasks of recruiting, screening, interviewing, training, appraising, disciplining, rewarding, and developing the employee both for business and non-profit enterprises. Since all managers (especially line managers) have HR responsibilities, it is important that they have an understanding of the key concepts of this increasingly important function, especially since many decisions they make about employees have possible legal ramifications. The course draws on material from Harvard Business School professor D. Quinn Mills’ book, Principles of Human Resource Management .
Course Code: UMDE 140 $79
In this course, you will learn about the process of selecting the best candidate from a large, diverse pool of high-quality applicants. Based on D. Quinn Mills’ book, Principles of Human Resource Management. the course discusses how to conduct an effective job interview, asking questions that elicit relevant information, and avoiding questions that might be seen as discriminatory. You will also consider how to discover more about a candidate through the use of reference checks, background checks, and testing.
Course Code: UMDE 141 $79 (3 HRCI)
Equal Employment Opportunity
In this course, you will learn about many of the major employment laws, Equal Opportunity issues, and the anti-discriminatory regulations employers must be aware of in hiring, promoting, and firing employees.
Course Code: UMDE 142 $79 (2.5 HRCI)
In this course, you will consider the many issues surrounding the key aspects of pay policy: legal requirements, pay equity within an organization, competitive pay within the relevant industry, how and when to grant raises, and different ways payment can be structured.
Course Code: UMDE 143 $79 (3.5 HRCI)
This course considers the different elements of performance management. In its broadest sense, “performance management” is what every good manager does every day: Makes sure employees know what they need to do to achieve the organization’s goals, checks to make sure the employees are doing those things, praises employees for doing the right things, and uses constructive criticism when that is not the case. A formal performance management system simply makes sure all those management tasks get done consistently across an organization.
Course Code: UMDE 144 $79 (3 HRCI)
Talent Management and Career Development
Drawing on material from Harvard Business School professor D. Quinn Mills’ book, Principles of Human Resource Management. this course covers the challenges and issues that organizations face in developing and retaining their employees.
Course Code: UMDE 145 $79 (2 HRCI)
Start anytime – up to 6 months to complete.
Certificate/all courses. $399 (3 CEUs/14 HRCI Credits)