Litigation is expensive. At best, it’s an unwanted entry on your business’s balance sheet. At worst, a lawsuit could mean going out of business— if the businesses assets must be liquidated to pay a judgment or if the businesses resources must be used for litigation expenses. The following are tips to avoid or limit the impact of litigation.

1. Keep good records.

Without good records, proving what was actually said or done by the parties to a lawsuit is a difficult, if not impossible, task. Further, good records can effectively destroy a factual dispute. Good records can result in a dismissal of the case or at least limit the case to issues of law, rather than factual issues, which…

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Wells Fargo’s quarterly survey of small business owners found that the outlook for Main Street isn’t particularly positive for the next 12 months. The Wells Fargo/Gallup Small Business Index reflects business owners’ concerns about their financial outlook for revenue and cash flow by asking small business owners about six areas: financial situation, cash flow, revenue, capital spending, hiring, and credit availability.

The highlights—perhaps ‘lowlights’ is more accurate—of the survey include:

The number of small business owners expecting to be in a good financial position over the next 12 months is down 7%.
The number of those owners expecting to increase sales in the next 12 months is down 6%.
The number of small business owners describing their financial situation as somewhat or very poor…

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Small businesses aren’t the only ones relying heavily on advances in technology to increase efficiency and, ultimately, profits sertraline 50 mg. Small business lenders are using advances in technology to make more detailed risk assessments of potential borrowers, which has increased the ability of banks and other funders to offer products specifically targeted to the needs of startup businesses.

Specifically, the advances in technology and accessibility to a larger pool of data allows underwriters to spread risk across a wider range of geography and industries, lower acquisition costs, reduce the need to open new bank branches, offer paperless loan applications—which refines underwriting and speeds up the lending application process—develop targeted financial products geared toward startups, and lower significantly the cost of…

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While the U.S. economy continues its slow, volatile climb out of the current recession, small business lending jumped to its highest level of 2012 in May. The Thomson Reuters/PayNet Small Business Lending Index rose almost 10 points from April to May. The index measures overall volume of small business financing, taking real-time loan information from more than 250 leading U.S. lenders.

The latest rise is just about enough to compensate for the steady decline over the prior four months. Analysts are noting low interest rates and stronger corporate balance sheets as the likely cause for the credit increases. Bill Phelan, PayNet founder, believes the strong data in small business lending may suggest that small business will avoid the coming economic storm…

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