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Even though the economic landscape has shifted in a positive direction for small businesses in the last few years, the Small Business American Dream Gap Report revealed that nearly three out of ten small businesses say it has become increasingly difficult to reduce their operating costs.

2016 has offered small business owners and entrepreneurs so many changes, improvements and developments. Internet marketing, social media and e-commerce continue to be a driving force that allows businesses to reach potential customers.

Since we’re experts in oilfield factoring and other factoring services, we’ve been paying close attention to the results of the OPEC meeting. The hopeful outcome of the OPEC meeting and negotiations was a widely-accepted oil output freeze or, even better, a reduction in oil output.

While everyone’s definition of success will be different, there is a collection of characteristics successful entrepreneurs share that are crucial to any business venture. A willingness to learn, take risks, make mistakes, experiment, face failure, and live with consequences, just to name a few.

Trying to forecast oil prices this year has left many at a complete loss. Investment banks, national and supranational organizations and rating agencies have all been baffled at how much oil prices fluctuated throughout 2016.

There are so many reasons why people don’t start their own businesses: fear of failure, inadequate resources, the need for a steady paycheck, limited exposure to entrepreneurship, etc. One of the most common reasons is that the individual simply has no idea how to go about it.

If you own a small business or a start-up company, you might not have access to adequate cash flow. Fortunately, you have many options for improving cash flow, and one of those options is called invoice factoring.

Bookkeeping is a task that many business owners handle on their own during the initial months of operation. Some small businesses may operate in a very humble manner for years before adopting software for bookkeeping or hiring a dedicated employee for such tasks.

Many industries require significant cash outlay to conduct consistent and successful business transactions, and the oil and gas services industry is no exception. A business must invest in labor and materials in advance of realizing profits, which means a potentially expensive endeavor.

It often seems as though there are as many different types of businesses as there are grains of sand at the beach.