Banknotes Blog

Senate Bill 451: Understanding the Differences Between Credit Unions and Banks

By: Stephen Eager

The Wisconsin State Senate is currently considering a bill to help modernize some language that no longer applies in today’s financial landscape, and therefore causes some administrative hassles for credit unions, specifically. To be clear, we are in support of the majority of the bill. However, there are four provisions that blur the lines between credit unions and banks that we believe should be removed.

As expenses increase with inflation and interest rates rise to combat it, small businesses are especially feeling this crunch. The labor shortage has a bigger impact when your team is comprised of significantly fewer people to start with. When you are missing even one or two people, the whole team feels the added burden. Here's what can you do as a small business owner.

If your business needs expensive or specialized equipment like machinery, fleet vehicles, heavy duty trucks, or high-end computers, you may be wondering how to finance these purchases. Let’s consider some factors that might influence your decision to either buy or lease.

As any business owner knows, there are many financial considerations to make when deciding how to run the company. A qualified tax adviser can help.

Interest rates have been extraordinarily low for the last 10–20 years, giving a generation of business owners confidence in their ability to repay loans to grow exponentially and operate more efficiently. That may change soon. When making decisions about new equipment, business expansion projects, or modernizing processes, you have several choices.

Starting or expanding a business can feel overwhelming. Luckily, you don’t have to go it alone. Right here in Dane County, there are a number of resources and experts geared solely to helping entrepreneurs achieve success. Let's take a look at a few.

You’ve heard the saying: “You have to spend money to make money.” While the underlying concept is true, the real trick is knowing when to spend and when to save to create a stable, thriving business. When it comes to spending, the most important thing is to fully understand your return on investment. Let's take a look at some to rules to guide your saving and spending decisions.

How do small businesses make large purchases, start new construction, or finance other development opportunities? Here are several ways.

Failure assumes added significance for sales and business professionals, because we tend to interpret ‘no’ in personal terms as rejection when, in reality, ‘no’ is normally driven by a prospect’s circumstances and needs at that time. Here are five ways to reconsider failure.

In an Amazon world, where everyone is accustomed to unlimited selection and two-day delivery, the current supply chain crisis is officially affecting all aspects of life, from groceries to gift giving and from cars to kitchen remodels. What are your options for serving customers through this challenge when so many factors feel like they are outside your control?

As a business owner, you have a company to run, and when it comes to retirement options, you just want something that is easy and inexpensive to set up and operate. This is where an SEP IRA or SIMPLE IRA can make a lot of sense.

If your business requires a physical location, one of the biggest dilemmas can be whether to build, buy, or rent. In truth, there is no one-size-fits-all answer to that question. The most important thing to remember is, the answer that's best for you and your business should be based on facts and not fear of the unknown.

If a prospect or client derives value from our conversation, that next meeting is probably assured. If not, there may not be a next time, or they will delegate us to a subordinate. Both are dead ends. Given that decision-influencer prospects & clients are time-starved and could easily fill their days twice over with meeting requests, why should they make time for us? The answer may be found in the "four pillars of value for time" upon which we need to intentionally draw: Insight, Perspective, Relevance, and Resilience.

When it comes to customer retention and acquisition, there are some less obvious, but particularly important, characteristics worth remembering. Here are three for your consideration.

What do your business plans look like as the pandemic gets farther from sight in the rear-view mirror? Here are a few important questions to consider, as you determine your path forward.

Consider the following tips and “tricks” to help your small business avoid the pains sometimes associated with growing.

Increasingly, companies are tapping candidates whose educational backgrounds might once have been considered non-traditional for leadership roles.

Help your business thrive this year by examining how lessons learned in 2020 can be the key to your success moving forward.

For a significant number of small business owners, having the available cash to run their company is a real concern. Fortunately, they have options.

Healthy relationships are vital to a business’s long-term success. Unfortunately, it is easy to take them for granted. Here are signs of decline to watch for.

Here are some tips to help prepare you for the financial risks you may face at each stage of your business’ life.

If your family’s business is transitioning roles from one generation to the next, an independent advisor may help provide a smoother process.

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