NBAA’s Small Aircraft Exemption

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NBAA’s Small Aircraft Exemption allows operators of piston airplanes, small airplanes, and all helicopters to utilize the limited options for cost reimbursement permitted under Part 91, Subpart F of the Federal Aviation Regulations (FARs). This exemption has been approved by the Federal Aviation Administration (FAA) and is only available to NBAA Members.

Common situations where cost sharing may be helpful include the transportation of a guest on the company aircraft or use of the aircraft by employees of a subsidiary company. In addition, the use of time sharing, interchange, and joint ownership agreements are permitted under Part 91, Subpart F.

Without the NBAA Small Aircraft Exemption, the cost sharing options available under Part 91, Subpart F are only available to aircraft that fall into one of the following groups:

  • The aircraft has a maximum takeoff weight of over 12,500 pounds, or;
  • The aircraft is a multi-engine turbojet aircraft (regardless of size), or;
  • The aircraft is a fractional program aircraft (regardless of size)

The NBAA web site provides Members with further information on the conditions and limitations of the Exemption and a copy of the FAA letter granting the Exemption to NBAA, which must be carried on board the aircraft.

NBAA offers a comprehensive suite of benefits, services and products that give Member Companies of all types and sizes the tools they need to make the best use of their business aircraft. Learn more about NBAA Membership.

Latest News

The FAA has approved a 24-month extension to NBAA’s Small Aircraft Exemption and removed onerous limitations of the exemption’s applicability to operations outside the U.S. Effective through March 31, 2019, the exemption allows NBAA members who operate small aircraft to take advantage of maintenance and cost-sharing options usually available only to operators of larger, turbine-powered aircraft. Learn more about Exemption 7897I (member password required).

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1200 G Street NW, Suite 1100, Washington, DC 20005 Tel: (202) 783-9000 Fax: (202) 331-8364 [email protected] Small business admin



small business startup

Small business startup

How to Start a Massage Business

You ve probably met several people who are stressed out, burnt out, and just longing for a place where they can relax. This scenario opens lucrative business opportunities like a massage therapy business. Massage therapy also aids in the process of fast recovery from injuries and illnesses. In this kind of business, you should like working with people, enjoy caring for them, possess the ability of empathizing with the distressed.

Small business startup

How To Start A Restaurant

Starting a restaurant can be a rewarding but challenging endeavor. There are several steps to starting a restaurant business that will help make it a success. Having a little background in hospitality management and bookkeeping will also help when opening your own eatery.

Small business startup

How to Start A Power Tools Rental Business

As the economy struggles to rebound many companies, especially in the construction industry, are cutting back on new equipment purchases. This trend has actually created some new business opportunities for those who are interested in how to start a power tool rentals business.

Small business startup

How to Start A Handyman Business

For a handyman business startup you ll have to invest in some tools. At the onset, only get those which are absolutely necessary and then add on as your business expands. Some essential tools all handymen must have include a hammer, a level, gloves, goggles, screwdrivers, wrenches, adhesive tape, a measuring tape, a ladder, drills, a flashlight, and a breathing mask.

Small business startup

How to Buy a Franchise

If investing in an existing business does not suit you and starting your own line of enterprise also still does not sound good, then buying a franchise might just be your best option. Franchising has its own advantage and disadvantages, and it needs careful and thorough investigation before you raise the green flag. Ponder on the following guidelines if you plan to buy a franchise.

Small business startup



Nevada Small Business Development Center College of Business A partner in The Business Services Group

The Nevada Small Business Development Center is a statewide business assistance outreach program of the University of Nevada, Reno, College of Business. We provide a wide variety of technical assistance to support Nevada Business.

The purpose of the Nevada Small Business Development Center is to guide and assist entrepreneurs in starting and growing their businesses in today’s dynamic market.

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Made In Nevada

The Made in Nevada program is the longest running marketing cooperative in the Silver State. Originally established under Governor. Read More

Nevada SBDC State Director

“Small business is an economic powerhouse that knows you by your first name.” – NFIB. Nationally, small businesses continue. Read More

The Most Critical Steps in Preparing for a Successful Business

By: Debra Ward, Marketing Consultant, Dream Weaver Marketing Starting a new business is fun, but it takes careful planning. Read More

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TECH TRAINING: Cybersecurity

Cybersecurity refers to the preventative techniques used to protect the integrity of networks, programs and data

WEBINAR SERIES: Where’s the Contract? State and Local Government Contracting: Buying and Selling Perspectives

Join the Nevada Procurement Technical Assistance Center (PTAC), Procurement Outreach Program (POP) to learn more about

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If you re not maximizing your revenue through your website, learn how to create this successful plan

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Highlighted Clients

BeAbundant J.B. Mapes Co.

Beatrice “Bea” Hamilton is the owner of two businesses downtown: BeAbundant, an upscale home furnishings store, and J.B. Mapes Co., a combination bistro and boutique. Both businesses are in homage to a Reno of the past, showcasing stylish atmospheres and unique items to create memorable shopping and dining experiences. . Read More

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    The Nevada Small Business Development Center is funded in part through a cooperative agreement with the U.S. Small Business Administration. All opinions, conclusions or recommendations expressed are those of the author(s) and do not necessarily reflect the views of the SBA. Reasonable accommodations for persons with disabilities will be made if requested at least two weeks in advance. Contact the State office of the Nevada Small Business Development Center at (800) 240-7094.

    Nevada SBDC es financiado en parte a través de un Acuerdo Cooperativo con la Administración de Pequeños Negocios (SBA) de los Estados Unidos. Todos los servicios se extienden al público sobre una base no discriminatoria. Las acomodaciones razonables para las personas con discapacidades mentales o físicas se harán, si se solicitan con al menos dos semanas de anticipación. Comuníquese con la oficina del estado de Nevada SBDC al 1-800-240-7094 para hacer arreglos. SBA no puede respaldar ningún producto, opinión o servicio de ninguna institución o actividad externa.

    All SBDC programs and services are extended to the public on a non-discriminatory basis. Language assistance services for clients with limited English proficiency will be provided.

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    101 New Ideas to Inspire You to Start a Business

    Small business consultant

    Coming up with a business idea is the first step in starting a business. But how do you come up with a business idea that is right for you?

    If you are looking for a small business idea to kickstart your path to entrepreneurship, you are in the right place. This list of 101 small business ideas includes everything from personal services, to retail opportunities, to environmental services, to pet-related ideas, to technology businesses.

    Use this list to identify the business idea that is perfect for your situation.

    1. Party Planner
    2. Personal Chef
    3. Personal Concierge
    4. Personal Trainer
    5. Pest Control Professional
    6. Pet Couture Designer/Seller
    7. Pet Groomer
    8. Pet Sitter
    9. Photo Restoration Service
    10. Photographer
    11. Pizza Parlor
    12. Pool Cleaning and Maintenance Provider
    13. Private Tutor
    14. Professional Organizer
    15. Project Manager
    16. Proofreader
    17. Public Relations Agency
    18. Resume Writer
    19. Sales Consultant
    20. Scrapbooker for Hire
    21. Senior Care Provider
    22. SEO Consultant
    23. Snow and Ice Removal Service
    24. Soap Maker
    25. Social Media Consultant
    26. Speech Writer
    27. Tax Accountant
    28. Translation Service Provider
    29. Tree Farmer
    30. Video Producer
    31. Virtual Assistant
    32. Virtual Call Center
    33. Voice-Over Professional
    34. Web Designer
    35. Wedding Planner
    36. Yoga Instructor

    Now that you have a few business ideas in mind, you ve completed the first step of starting a business: you re inspired! It s time to take the next step, and evaluate the business ideas that made it to the top of your list. Doing this research at the beginning of the process is vital to avoid wasting time and money on a business idea that flops.

    Once you have confirmed there is a market for your business idea, follow along with this step-by-step small business startup guide to work on each of the remaining steps in the small business startup process, and you ll be on your way to starting a new business in no time.



    Three Popular Start-Up Financing Options

    Thinking about starting a business? Recent studies and reports have shown that entrepreneurs are more optimistic than in recent years when it comes to the state of their businesses this year, and that’s great news! But always high on the list of concerns for starting a business – even in optimistic times – is financing. Here’s a roundup of some ways, aside from avenues such as SBA-backed loans, to finance your business.

    According to expert Marco Carbajo, credit cards are a major source of financing for small business owners, with statistics even showing that more than 65% of small businesses using them on a frequent basis. It’s a popular approach, but you should be sure to do your research to determine if it’s the right one for you. Here are some tips from Entrepreneur.com to help:

    • Unless your business is incorporated – so if yours is a sole proprietorship, for instance – you are guarantor of all debts. So if your sales are slow and you fall behind on payments, you risk your personal credit rating and ability to borrow.
    • It varies by state, but your credit-card issuer might still require that shareholders with significant ownership guarantee the line of credit – even if your business is incorporated.
    • Potentially bringing on partners? Make sure your agreement states that they’ll accept personal guarantees on all existing business debt. You need to address this specifically because in many states, new partners aren’t automatically responsible for previous debts.
    • Read the fine print. Don’t accept an offer without checking into the details, understanding the terms of use and evaluating risks. Don’t hesitate to ask a professional for guidance.

    Asking friends and family to borrow funds to help finance your business sounds like it could get awkward, but it doesn’t have to. Treat the process just as professionally as you would an engagement with a bank. If you done right, you can potentially gain quicker access to the cash you need and jump through fewer hoops – after all, your friends or family already know you. Read more about borrowing from friends and family in our article here, but think about these highlights as you consider this option:

    • Think carefully about who you’ll approach and make sure they understand the risks (and rewards) of getting involved. Keep in mind if your business doesn’t work out and you can’t repay your obligations, relationships could suffer.
    • Be realistic about how much money you need. Instead of asking for the maximum, consider what you need to get you to a certain point in your business plan. Once you show you can repay that initial investment, you’ll be in a better position to ask for more money if you need it.
    • Write it down. You might think a verbal agreement with your friend or relative is sufficient given the personal relationship, but this is business. Consider this advice from Entrepreneur.com: “Any time you take money into a business, the law is very explicit: You must have all agreements written down and documented. If you don’t, emotional and legal difficulties could result that end up in court. And if the loan isn’t documented, you may find yourself with no legal recourse.”
    • Communicate. Show your business progress and share updates along the way, even if it’s correcting mistakes you’ve made with your business strategy. Checking in and sharing information shows that you’re taking seriously the role others are playing in your venture and demonstrates professionalism.

    Increasingly, crowdfunding is becoming a popular way for people to get startup financing for their businesses. You’ve probably heard of Kickstarter campaigns – that’s crowdfunding. It works through a collective cooperation of people who network and pool their money and resources together, usually online, to support efforts initiated by others. So it gathers multiple, smaller investments as opposed to a single source of funding. You can read more about the details here, but here are three other key considerations from Entrepreneur.com:

    • You should begin working on your crowdfunding campaign six months before you want to launch your project. When your campaign starts, you should’ve already made a significant effort in letting people know about it collecting email addresses so you can really hit the ground running when you open the gates for your campaign.
    • Set your funding goal as low as you can manage because some crowdfunding platforms, like Kickstarter, are “all or nothing.” For instance, if you set a goal of $1,000 and you meet it, then you get the money. If you raise only $500, you won’t get anything. Read the fine print about the platform you choose so you can be strategic about your funding request.
    • Don’t forget to award your donors. You’re asking people to take a risk on your business venture – there are no guarantees. So thank them and show your appreciation by offering your product or service at a discount when the time comes.

    You can also learn more from our online Learning Center course, “Introduction to Crowdfunding for Entrepreneurs.”

    Beyond a “traditional” track of securing a loan from a bank, there are quite a few avenues to consider for financing your business. And with passion, professionalism and planning, you’ll establish a good foundation for success down any of these paths.

    About the Author:

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    The Best Bank for Small Business in Canada: Business Bank Accounts

    Best bank for small business

    In Canada there didn t use to be much point in looking for the best bank for small business when you were looking for a business bank account; for years, the only difference between business bank accounts and personal ones has been that business bank accounts cost a lot more in fees.

    But the Cyclopean eyes of Canada s big banks have finally alighted on small business banking and, having decided that small business owners are a worthy market, the banks are actually competing with one another to create business bank accounts that small business owners will find attractive – and that means creating small business accounts with lower bank fees.

    Here are the best business bank accounts for Canadian small businesses based on their monthly costs so you can compare and decide which is the best bank for small business.

    Business Bank Accounts for Low-Volume Businesses

    If you don t have many transactions each month and don t need to write or deposit cheques much, you may be able to use the only free business bank account around, RBC s Small Business eAccount, which has no monthly fee, unlimited electronic account transactions each month and no minimum balance required.

    However, standard fees apply to all non-electronic transactions, such as a $2.00 charge for every paper debit or cheque, a $3.50 charge for every paper credit or deposit and a $5.00 fee for every $1,000 cash deposited in-branch. So unless your clients are all paying directly through credit, debit or wire transfer, you may be better off springing for a business bank account that does have a monthly fee.

    For instance, RBC also offers a Business Essentials $6 Small Business Account. The $6.00 fee does not apply if your transaction fees are more than $6.00 and the transaction fees decrease by the number of transactions; for example, if you make 1-10 paper based transactions, the transaction fee is $1.25 each but if you make 11-30, the fee decreases to $1.20 each.

    You can also cut down on transaction fees by banking electronically; 1-10 electronic transactions are only $0.75 each.

    The business bank account with the lowest monthly fee currently is the TD Basic Business Plan. Its $5.00 monthly fee includes five free transactions and five free deposit items each month. After that, each transaction is $1.25 and each deposit item is $0.22 and the first five of each type of transaction are free. Cash deposits are $2.50 per $1,000.

    Six dollars seems to be the popular fee for low-volume business accounts. It s the monthly charge for Scotiabank s Right Size Account for business (with transaction fees of $1.20 through $0.85 each depending on how many transactions you make each month), BMO s Business Start bank account which allows you seven free transactions a month and CIBC s Basic Business Operating Account which does not allow you any free transactions each month and charges $1.25 for each full-service transaction you make and $1.00 for each self-service transaction.

    Scotiabank also offers a Basic Business Account U.S. account which has a minimum account maintenance fee of $9.95 a month. In addition, you re charged for all your transactions on a pay-per-use basis.

    Each cheque, for instance, costs $1.20, while each item deposited to your account costs $1.00. The interesting thing about this account is that you earn one free transaction by keeping a $1,100 minimum monthly credit balance, and you will pay no monthly account maintenance fee if your minimum monthly credit balance is $6,000 or over.

    And If You re Not a Low-Volume Business?

    You re going to pay more. Sometimes a lot more. Each bank offers a slate of business account offerings and their charges for what you get are comparable. There are no banking bargains.

    Most Canadian banks offer a business account at the $20 monthly fee level which might work for you if you run a small retail business.

    The Royal Bank s RBC Business Essentials Fixed-Fee Account is pretty typical of accounts offered. For a monthly business bank account fee of $20.00 you get:

    Learn how to start your own business or side hustle, and discover strategies to attract customers and pump up your profits.

    • Up to 20 debits/cheques each month
    • Up to 15 credits/deposits each month
    • Up to 20 items deposited each month
    • Up to $2,500 cash deposited each month.

    (They also offer three other Fixed Fee Plans at monthly rates of $35.00, $50.00 and $75.00, each with increasing numbers of transactions per month.)

    The best of these accounts is the TD s Every Day Business Account. For $19.00, it gives you 50 deposit items and up to $5,000 in cash deposits, more than any other of the big banks.

    From there, all the banks offer accounts with increasing monthly fees based on the number of monthly transactions.

    The CIBC offers an Unlimited Business Operating Account which, as the name suggests, gives you unlimited transactions with a cash, coin and cheque deposit package for a $50.00 monthly fee. Looking at how few monthly transactions are included in most of the more inexpensive business bank accounts and how quickly additional transaction fees stack up, this may well be the most inexpensive option if your business has many monthly transactions.

    Small Business Banking Packages

    Another thing that complicates the issue of which is the best bank for small business is that some banks offer small business banking packages that bundle banking services.

    Scotiabank s combo small business banking packages are of particular interest; they offer several business bank accounts that combine a personal and business bank account with other banking services, such as their ScotiaOne Account Plan. Besides the personal chequing and business bank account, the plan includes a business Visa card, a ScotiaCard and electronic banking for business.

    Fees start at $49.95 per month.

    The Best Way to Get a Free Business Bank Account

    . is to maintain a monthly balance. But the required monthly balance to waive the account maintenance fee is often quite high.

    As of time of writing, the account with the lowest required minimum monthly balance is the aforementioned TD Every Day Business Account. You won t have to pay the $19.00 fee on their Every Day A bank account if you maintain a minimum monthly balance of $20,000.

    See What Business Bank Accounts Your Credit Union Offers First

    There are also a great many Credit Unions operating in different regions in Canada. and you ll want to check with your local Credit Union to see what kinds of business bank accounts it offers. Historically, Credit Unions have had a strong interest in small business banking and your local Credit Union probably offers business banking accounts and services that are very competitive.

    The Credit Union I use offers a $6.00 pay-as-you-go Business Chequing Account, a $10.25 Business Package that comes with 15 full-service transactions and four other business account packages with fees ranging from $19.95 through $99.95. Besides the range of packages, I also really like the fact that their transaction fees are lower than the banks in many cases. Check and see; this may be true of the Credit Union in your area too.

    Small Business Banking Isn t All About the Fees

    The most important feature of small business banking is the relationship you have with your bank or credit union manager, not the cost of your small business bank account, as sooner or later almost all small businesses need a business loan and/or a line of credit.

    That being said, however, there s no point in spending money every month on small business banking services you’re not using or conversely, paying relatively high small business bank account fees and not getting the small business banking services you need.

    Checking your business bank account and comparing it with the information on business bank accounts above could help you find a small business bank account that s a better fit for your small business and save you money.



    Need cash?: Try these top Main Street lenders

    Despite heightened enthusiasm for small-business lending in the banking sector, it’s not easy for mom-and-pop firms to get a U.S. Small Business Administration–backed loan. And it’s not just because small-business loans require a lot of paperwork. Banks tend to favor larger deals, which are more profitable for them. So if you’re a small-business owner hunting for a lender, it helps to know which banks aren’t just talking the talk but are walking the walk when it comes to making small-business loans.

    There are some surprises. While big banks still top the list when it comes to issuing greatest dollar volume of loans backed by the SBA and in the sheer number of loans made, some smaller banks are aggressively going after Main Street entrepreneurs.

    Best bank for small business

    Of the top lenders signing SBA-backed loans of $150,000 and under are Wall Street banks JPMorgan Chase (No. 1 on the list) and Wells Fargo, as well as some smaller players, including Celtic Bank and Zions First National Bank, according to SBA data for the 12-month period ended Jan. 31, 2014.

    Larger banks still dominate when it comes to making loans of $1 million and under (which also include those loans under $150,000), but some smaller banks are gaining ground in that category, too. Take, for instance, this list’s No. 14: Ridgestone Bank, a subsidiary of Ridgestone Financial Services, which received money through the recession-era TARP program.

    Big banks can be particularly stringent in lending to small business. Biz2Credit, a matchmaker between borrowers and lenders based in New York City, found in its January 2014 index that big banks using its platform approved 17.8 percent of small-business loans compared to small banks, which approved 50.9 percent.

    SBA 7(a) Loan Program Top Lenders 2013 ($150K and under)

    In fact, the data shows that it’s only the larger-dollar-value small-business loans that grew in the recent 12-month period. In the SBA 7(a) loan program, used for working capital, the number of deals for $150,000 or less declined from 25,485 in fiscal 2012 to 24,923 in fiscal 2013, and loan volume stayed relatively flat at $1.4 billion.

    The number of SBA 7(a) loans of $1 million or less rose in that same time period, from 40,496 to 41,694, with volume increasing from $7.6 billion to $8.5 billion.

    This trend has created an opening for scrappy smaller players, including Salt Lake City, Utah–based Celtic Bank, which is lending across the country.

    “We definitely have stepped up our lending,” said Craig Calafati, executive vice president of business development at Celtic Bank. “We made a very strong commitment to the underserved small-business community, particularly in making loans under $150,000.”

    To keep the loans flowing, Celtic Bank has built an online application into its website.

    SBA loan approval overview

    Small banks have a big financial incentive to go after SBA loans.

    They profit from selling the loans they originate on the secondary market, where the deals are bundled and snapped up by institutional investors, such as pension funds, hedge funds, and private investors looking for safe deals.

    “Banks make a very good premium of 12 percent to 16 percent,” said Rohit Arora, CEO of Biz2Credit. “That’s a big motivation for small banks to do these loans.”

    His prediction: “In the next six months, you will see more small banks coming into this space.”

    “It gives them the ability to make loans, retain liquidity and limit some of their risk exposure to the loans,” said Craig Cline, managing director and head trader on the government-guaranteed loan desk at Coastal Securities, a financial services firm in Houston that is active in the trading, securitization and analysis of SBA loans and pools.

    SBA 7(a) Loan Program Top Lenders 2013 ($1M and under)

    Some small banks are also selling their loans to big banks, said Brendan Ross, president and portfolio manager at Direct Lending Investments, a private investment firm in Los Angeles that owns notes on loans made by alternative lenders.

    “The [small] banks can’t afford to warehouse them,” said Ross. “They are like glorified brokers.”

    “It does allow us to recycle those dollars back out,” said Eric Petersen, executive vice president of corporate development at Celtic Bank. “It allows an institution like ours to make a lot more loans than we would be able to.”

    Celtic Bank sells most of the loans it originates on the secondary market but remains the primary contact for servicing them, Calafati said.

    Party like it’s 2009?

    Banks aren’t the only place to get SBA loans. They are also available through nonbank lenders and credit unions.

    Nicole Zinn, owner of Rocket Electrics, an electric-bike shop in Austin, Texas, won an SBA-backed loan for $180,000 from Austin-based Amplify Federal Credit Union after working with an advisor at the Texas State Small Business Development Center to revise the shop’s business plan and put the loan application package together.

    Zinn founded the business in 2011 after losing her job in high-tech marketing during a corporate restructuring; it became profitable four months after it opened. “I didn’t want to go back to a cubicle,” she said.

    Zinn applied for a loan to expand her inventory in July 2013, then saw her application stall during the federal government shutdown in October 2013. Finally, in November 2013, after the government reopened, Zinn won the loan, which she was more than ready to put to use in expanding the business.

    “When the loan process takes so long, your need grows,” she said.

    By Elaine Pofeldt, Special to CNBC.com

    (For more on the banks leading in lending under the SBA’s 504 program—loans for fixed assets, including real estate and equipment—consult the charts on the following page.)



    Best banks for business

    Best bank for small business

    When it comes to business banking, working out which financial service institution best suits your needs can be a tricky affair.

    South Africa s big banks each offer various accounts tailored towards businesses, and each account has structures, fees and added services catering for specific needs.

    Best bank for small business

    First National Bank s business account has two payment options: a fixed-fee bundle account which offers a number of transactions and services for a fixed monthly fee or a pay as you use (PAYU) option.

    The fixed-fee payment plan costs R169.00 per month, and bundles 30 electronic debit transactions (subject to a maximum of 5 FNB ATM Advance withdrawals) and 10 cash deposits (as long as they re at FNB ATM Advance terminals).

    According to FNB, its business account is suited to sole proprietors, partnerships, close corporations, companies, incorporated businesses, trusts and co-operatives.

    The bundled transactions do not include cheque transactions; branch transactions; online banking enterprise; non-FNB transactions; as well as any special instructions or penalty

    fees, which are all charged at PAYU rates.

    Best bank for small business

    Absa offers the Small Business Cheque Account and the Absa Biztransact Account with the latter being a current account for small businesses which require a transactional account, but have no immediate need for a cheque book or overdraft.

    The fees associated with both accounts remain similar, with the exception of the cheque-book and overdraft fees attached to the cheque account.

    Absa s Business Internet Banking (BIB) is charged at R105.00 per month, and the bank offers small businesses its Absa Business Essentials software package (QuickBooks Pro; planning, marketing and business and software skills courses) for R185.00 per month.

    Best bank for small business

    Nedbank s business account offers a full-featured current account specifically designed for small businesses, according to the bank.

    It s a pay as you use account, that provides banker services to assist with specific business needs, as well as customizable Internet banking.

    Best bank for small business

    Aside from Standard Bank s business banking current account, the bank has also targetted business start-ups and entrepreneurs with its Bizlaunch account.

    The Bizlaunch account provides many of the bank s electronic transactions and services in a bundled package and is available for a fixed monthly fee of R90.00 for the first 12 months of opening your business.

    The bundled services include eight ATM cash withdrawals and unlimited cheque card purchases, electronic account payments, debit orders, inter-account transfers and others.

    The account includes a merchant device for R325.00 a month, at a 3.25% commission rate as well as a wealth of other services to kick-start a business. Once the 12 month window is over, the Bizlaunch account converts to a transactional business account.

    Best bank for small business

    Capitec does offer business services to banking customers, but does not offer any business account.

    We don’t provide business banking for close corporations, companies, partnerships or trusts, the bank s website states.

    Capitec is thus not included in the following comparisons.

    Business accounts, head-to-head

    When it comes to comparing business accounts with each other, all of the various offerings listed above should be taken into consideration.

    However, in the end, it boils down to fees. Who is charging you the most to do the most basic or most common transactions?

    In this instance, BusinessTech is looking at PAYU fees when dealing in specific transactions to give a clearer picture as to which bank provides the best value.

    A bank s monthly fees differ depending on the account one uses (service fees, overdraft fees, internet banking fees, etc). The fees depicted below are the rudimentary amounts taken each month for the account to simply exist.



    Local Assistance

    SBA Offices and Resource Partners

    SBA works with a number of local partners to counsel, mentor, and train small businesses.

    SBA District Office

    The small business administration

    SBA Regional Office

    The small business administration

    Disaster Field Office

    The small business administration

    SCORE Business Mentor

    The small business administration

    Small Business Development Center

    The small business administration

    Women s Business Center

    The small business administration

    U.S. Export Assistance Center

    The small business administration

    Veteran s Business Outreach Center

    The small business administration

    Certified Development Company

    The small business administration

    Procurement Technical Assistance Center

    The small business administration

    Regional Innovation Clusters

    The small business administration

    ScaleUp America Communities

    The small business administration

    The small business administration

    SBA District Offices

    SBA s District Offices are responsible for the delivery of SBA s many programs and services throughout the country. Services available include:

    • Free counseling, advice and information on starting a business through SCORE.
    • Financial assistance for new or existing businesses through guaranteed loans made by area bank and non-bank lenders.
    • Free consulting services through the network of Small Business Development Centers. SBDCs also conduct training events throughout the district – some require a nominal registration fee.
    • Assistance to businesses owned and controlled by socially and economically disadvantaged individuals through the Minority Enterprise Development Program.
    • Women s Business Ownership Representatives are available to advise women business owners.
    • Special loan programs are available for businesses involved in international trade.
    • Guaranteed loans are available for credit-worthy veterans.

    Information on SBA’s International Visitors Program to visit District Offices.



    Small Business Resources

    The DC Department of Insurance, Securities and Banking, a regulatory agency for the District of Columbia s financial services industries, provides and participates in programs and resources to assist small business owners in creating sustainable economic development.

    The District of Columbia Business Capital Program (DC BizCAP) is funded by the U.S. Treasury State Small Business Credit Initiative (Initiative). The Initiative, a $1.5 billion fund, was established by the Small Business Jobs Act of 2010 to assist small businesses and entrepreneurs who were adversely affected by the economic recession of 2008 and the credit crisis that followed. The District of Columbia was allocated $13.2 million for District businesses. The District of Columbia Department of Insurance, Securities and Banking (DISB) established and administers DC BizCAP to provide capital to District small businesses and entrepreneurs who continue to encounter reductions in the availability of credit and heightened requirements to obtain financing. DC BizCAP provides critical capital through three programs that provide alternatives to traditional commercial financing to facilitate private lending and investments in District small businesses.

    DC BizCAP – Collateral Support Program

    The Collateral Support Program (CSP) provides funds for deposit with a participating lender (i.e. a participating bank, credit union or community development financial institution) to provide the necessary collateral to cover the borrower s collateral shortfall. The CSP s collateral is drawn down and returned, for use by other business, to DISB over the life of the loan. Find a list of participating lenders, loan enrollment procedures and forms and more information on the Collateral Support Program.

    DC BizCAP – Loan Participation Program

    The Loan Participation Program (LPP) is a program that provides loan support for small business which may qualify for loans, but are unable to meet capital requirements or the debt service coverage ratio of the lending institution. Under the LPP, the District buys a portion of a loan originated by a lender to bolster capital on the borrower s balance sheet and reduce its debt service. Find a list of participating lenders, loan enrollment procedures and forms and more information on the Loan Participation Program.

    DC BizCAP – Innovation Finance Program

    The Innovation Finance Program (IFP) provides capital for investment in District of Columbia start-ups and emerging companies that seek financing alternatives to traditional commercial financing. The IFP provides the capital either (1) through a co-investment with an Innovation Finance Company into the small business; or (2) by investing as a limited partner in an Innovation Finance Company that shall then make an investment into that small business. Find more information on the Innovation Finance Program.

    Equity Crowdfunding

    District of Columbia-Only Securities Offerings Exemption

    The District of Columbia-Only Securities Offerings Exemption allows DC-based businesses (including start-ups and small businesses) to be exempt from the District s securities registration requirements in order to encourage capital formation and simplify equity investing. To qualify for the exemption, the business must be organized under DC law and have its principal place of business in the District, and the securities in the offering must be offered only to DC residents. This method of funding (up to $2 million) must be in compliance with the limitations on intrastate offerings under the federal Securities Act of 1933 and the implementing regulation. There is also a separate exemption process for nonprofits. Find more information on the District of Columbia-Only Securities Offerings Exemption including the application process.

    Other Access to Capital Programs

    Certified Capital Company Program (CAPCO)

    The Certified Capital Company Program, known as CAPCO, makes private equity and debt investments in small businesses in DC. The two companies that make up the program are managed by professional venture capitalists and operate independently of the Government of the District of Columbia. For more information, follow this link.

    District of Columbia Microloan Program

    The DC Certified Business Enterprise Revolving Micro Loan Fund program provides start-up capital to small businesses that do not have enough capital to grow in their early stage of development. The maximum loan amount is $25,000. Applications and filing procedures are available online here on the DC Department of Small and Local Business Development s website.

    Insurance Information and Resources

    Insure U for Small Businesses is an online resource that provides small businesses owners with tips and considerations when choosing insurance for your businesses. You will find information on worker s compensation, business property and liability, commercial auto, group health and disability, group life, key person life and home-based businesses. Insure U is available in both English and Spanish and is provided by the National Association of Insurance Commissioners (NAIC) which is an organization of insurance regulators from the 50 states, the District of Columbia and US territories. Visit insureuonline.org/smallbusiness.

    La Asociaci n Nacional de Comisionados de Seguros (NAIC) presenta Insure U para Empresas Peque as, con el prop sito de proveer informaci n, consejos tiles y consideraciones sobre seguros a propietarios de empresas peque as y negocios que operan desde el hogar. El programa de Insure U est organizado alrededor de los siguientes temas: seguro laboral contra accidentes, seguro de propiedad comercial y responsabilidad civil, seguro comercial para automotores, seguro de salud y discapacidad, seguro colectivo de vida y seguro de vida para personal clave. Internet: insureuonline.org/smallbusinessespanol

    DC Health Link is the District s online marketplace created for individuals, families and small businessowners with less than 50 employees in DC to shop, compare and select health insurance that meets their health needs and budgets. For more information, visit dchealthlink.com. If you have more than 50 employees, DISB provides a list of health insurance carriers in DC for your reference available here.

    Disaster Planning for Small Businesses

    Review and Update Your Business Insurance in Case Disaster Strikes

    Tornado. Wildfire. Winter melt. Hurricane. Flood. Across the country, springtime can bring all kinds of potentially damaging weather. Now is the time for small business owners to get prepared for the possibility of disaster by reviewing their business insurance needs and policies. Because you never know when disaster will strike, here s a checklist to help you prepare. Visit disb.dc.gov/disaster planning for small businesses.

    Introduction to Business Owner s Policy: A Package Solution

    Many small business owners purchase a business package policy called a BOP or a business owner s policy. A BOP typically includes property insurance, business interruption/continuation insurance and liability insurance. Often it is a less costly option for small businesses than buying a set of individual policies. Many insurers customize BOPs for specific types of businesses. Visit disb.dc.gov/BOP for more information.

    If someone falls while visiting your business premises or a customer is hurt by a product your business sells, you can be held responsible. That s the risk that liability insurance covers. Liability insurance, also called Commercial General Liability (CGL), covers four categories of events for which you could be held responsible: bodily injury; damage to others property; personal injury, including slander and libel; and false or misleading advertising. CGL coverage pays for the injured party s medical expenses. It excludes your employees, who are covered by workers compensation. More information on liability insurance is available here.