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Whether you’re in the red or the black, you’re never alone. Through thick and thin, Kerndt Brothers Bank is always here to help you. We started as a small business nearly 160 years ago. And we want to make sure your small business succeeds.

We’ll help you get started and support you all the way. Here are 8 ways you can help protect and grow your small business, even in rough financial times.

  1. Outline your business goals. Without a roadmap, how will you know you’re on the right path? The clearer your direction, the easier it will be to stay on track. At Kerndt Brothers Bank, we can help you set up a performance plan that will help in lean and green times.
  2. Learn more about SBA loans. These guaranteed loan programs are designed to help small businesses like yours and cover a wide variety of circumstances, including disaster assistance, business expansion, and economic injury losses.
  3. Review your business insurance coverage. Talk to your agent about increasing your deductibles — for policies including auto, hazard, and fire insurance — to lower your monthly premiums. However, make sure you have enough cash in reserve to cover any potential deductibles.
  4. Set aside self-employment taxes. Avoid a huge tax hit by withholding enough money throughout the year to cover these expenses of 15 percent and more.
  5. Complete a breakeven analysis. This report will show you when you can reasonably expect your business to begin making a profit.
  6. Put it in writing. A good way to protect your business and ensure you’re paid for your work is to ask for payment up front. Your business contract may stipulate that you collect between 10-25 percent of the total fee before you begin a project for a client.
  7. Look at the big picture. It’s easy to get bogged down by details as a small business owner. Take time to recall why you started your own company. Don’t be afraid to take some vacation, attend a networking event, or provide professional development opportunities for both you and your employees.
  8. Ask for help. Don’t wait until you’re buried in debt to take action. As soon as you have a financial problem, come talk to the professionals at Kerndt Brothers Bank. We can help with small business loans, lines of credit, and other financial assistance.

At Kerndt Brothers Bank, we know there are ebbs and flows for all small business owners. We want to make sure you’re prepared for all eventualities. Contact us today to discuss all the ways we can help your small business.

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The material provided on this website is for informational use only and is not intended for financial or investment advice. Kerndt Brothers Bank and/or its partners assume no liability for any loss or damage resulting from one's reliance on the material provided. Please also note that such material is not updated regularly and that some of the information may not therefore be current. Consult with your own financial professional when making decisions regarding your financial or investment management.