First Federal Bank Blog

Under certain circumstances, bringing a new equity partner into your business can be a wise choice that leads to growth and continued upward momentum.

Your hard-working employees are instrumental in your business’s present profitability and future growth, so it is imperative to establish a company culture that makes your employees want to work for you for many years.

When your company is up and running, you want potential clients to know all about your successes. You can promote them yourself, but recommendations from your customers will have a much bigger effect. Consider changing your strategy to get your business the good reviews it needs.

Whether you sell products, provide services or offer consultations, a well-managed social media presence can help you connect with potential clients. With skill, strategy and dedication, you can turn your followers into a source of income-generating leads. If you’re looking to grow your reach, consider these tips for turning your company’s social...

Whether you have an old family recipe that you feel should be shared with the world or want to try your hand in a growing industry, starting a restaurant is challenging yet rewarding experience. Setting aside the intricacies of creating menus and establishing your brand, you will need significant seed money—The Balance Small Business’s Lorri Mealy...

One of the most common mistakes small business owners make is failing to separate their personal and small business finances. Many owners try to process their business transactions through their personal bank accounts, but whether they do it for convenience or to help reduce expenses and bank fees, the reasons to not do it are much more compelling...

Saving for retirement is meant to help you finance your future, improving your quality of life after your work years. The more you are able to set aside and the longer you allow that money to accrue, the more cash you’ll have to live on. Because of this, it’s recommended to defer taking funds from your retirement savings as long as possible — but...

Obtaining the proper insurance coverage is one of the most important steps you can take to ensure the success of your small business. No matter what products you sell or services you provide, carefully assess all the risks your business might face and consider purchasing these key policies to preserve your peace of mind — and your profits.

For as much as you focus on increasing revenue to maximize your profits, you should put an equal amount of attention on reducing your operating costs. Unchecked overhead can quickly add up and undermine the sales you’ve worked hard to make. Take time to evaluate your business costs, particularly in these areas, to determine how you can reduce them.

Whether your business is growing or a departure has left a vacancy, you need to hire a new employee. While the benefit of having that person join your company is valuable, the cost of hiring them — beyond their actual salary — can add up. To ensure you’re budgeting accurately for your next round of hiring, keep all of these overlooked costs in...