Small Business Loans – Learning to Manage Business Finances

                                   

 Certain small business entrepreneurs make the mistake of merging business finances with personal finances. The difference between them is easy to spot and thus easily distinguished. That is until the business begins to pick up, then they seem to merge. With a flourishing business, an entrepreneur should consider small business loans instead of taking out more personal loans.

                Start-up capital often come from or are drawn using personal assets or properties as collateral, that is understandable.  But when the business is finally able to pay for the monthly amortization, paying for the operational costs should not come from personal funds. It doesn’t matter if the profits or net sales seem to be too small but the fact that it is self-sustainable is a good thing already.  Personally funding certain costs will create a false profit.   Otherwise, you may find yourself losing more of your savings while the business seems to grow.  Once you have established a profitable sales history, it is time to consider applying for a small business loan rather than getting the funds from your own pocket or your personal credit card.

Paying your own debt is important. A business should maintain self-sustainability and even have a little extra on the side for further expansion or yourself but a growing business never has a one-man-army. And when you start hiring a workforce to delegate to everything in the business you used to do on your own, you’ll start to see just how much of the money you’re actually

A small business might start out easy, making money on a passion or at least something you find entertaining to do creates the illusion that will stay easy. This is where the two ends meet: the business and its owner, and so are both of their finances.

A small business owner should consider taking small business loans as early as he/she can. Doing this keeps assets safe if you decide to sell or close down and keeps the two finances in check and in clear separation.

Small Business Loans are a vital part of any small business. Maintaining personal assets and granting freedom financially as well as allowing funding for expansion, they become a great financial aid. There are different types of small business loans depending on needs and capacity to pay.   

Intelligent Video Systems

 

Managing a store or any business establishment is a task that is renewed every day.  Each day brings new challenges and managers and store owners need all the help they can get.  Fortunately, advancing technologies now allow intelligent video systems to give vital information and valuable data to provide insights needed for daily operations and planning.  The technology that used to be a toll to enhance security has now evolved into a tool for businesses to know more about their market or consumers.

So what are intelligent video systems?

Put simply, it is digital video technology incorporated with analytical software.  The best example (although the movie suggests the use of more advanced softwares) is the modern world depicted in the Movie Minority Report where ads are more personalized based on facial recognition.

Intelligent video systems have different applications such as:

·         Keeping track of or counting foot traffic and line queues.

·         Tracking how long a person or customer stayed on a particular area or display

·         Object Tracking

·         Age and gender recognition

·         And most importantly tracking suspicious activities and triggering alarms or sending alert signals or messages

How does it work?

Intelligent video systems require Surveillance Digital Video Recorders or IP based Network Digital Video Recorders that has integrated analytical software that are programed to identify what it “sees” and store data, analyze the information or trigger alarms.  Surveillance systems for example are able to distinguish suspicious movements such a person climbing a wall and be able to trigger pre-set alarms.  Facial recognition softwares are also able to determine age and gender of a particular person giving the marketing team actual and verifiable data.

Is it cost effective?

Conventional video surveillance requires personnel to monitor live footages and feeds and they spend hours analyzing recorded video. In contrast, with the current intelligent video systems, scanning hours and hours of videos data happens without human intervention.  Data analysis for marketing could also be grueling task if data is gathered and processed manually, not to mention the possibility of getting inaccurate information.  In the current business environment, time is money and so is manpower.

Getting started

More and more businesses see the merit of having a sophisticated surveillance system and for a small business or for any establishment, it is a technology that is now more affordable.  Just make sure that the video intelligence system you are planning to install coincides with your business’ goals.  For more in depth information on intelligent video systems check out the AFN Security website.