5 Questions to ask yourself before hiring a new employee

For most small business owners, the decision to hire their first employee is not a small or easy one. Many small business owners are hesitant about adding a new hire to their team. It’s understandable. It’s a big decision and there are a lot of things to consider. We thought we’d help with the process by offering up five key questions to ask yourself before deciding to add a new member to your small business Can I take on this extra work ...
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5 things to consider before setting a price for your goods and services

When it comes to setting an initial price, you can generally choose from one of three options: You can charge a premium price (this works best if you have a superior, value-added product or service), a lower-than-average discount price (which is generally hard for small companies to sustain), or a price that is in line with your competitors (market price). To help you decide where to fall on this scale, here are five things to consider before ...
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4 steps to evaluating a new business opportunity

Growing a business, whether organically or by acquisition, is never easy. Today we’ll offer a quick way to  evaluate growth opportunities for your business. Following these four simple steps can keep you from pursuing unprofitable, costly new lines of business, partnerships or business acquisitions: Doing the Math Really Does Matter The first step in evaluating a new opportunity is to compute the potential gross profit margin to be ...
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Four Good Reasons to Pay Your Taxes

It’s that time of year again. The W-2s and 1099 are starting to arrive in the mail and before you know it, it will be March and then April 15th – Hello Tax-Time! No one enjoys paying taxes, but there are several reasons to do the best job you can of accurately reporting your income: Uh oh! Uncle Sam Wants You! Obviously, under-reporting may invite scrutiny from the IRS and whatever savings you may have once enjoyed will quickly be wiped out ...
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New Years’ ideas for your business in 2016

The New Year is always a great point in time to look back and then start afresh – are you ready to make 2016 be the best year yet? Are you planning a whole list of resolutions for your business or just looking for small improvements? Here are a few suggestions to help you start the year off right. No time or energy to plan for an entire year? Try our initial “quick fixes” and just focus on them for a day or a week; if they work, you can always ...
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A Million for Main Street

Community Capital New York’s Hudson Valley Opportunity Loan Fund Awarded $1m by Governor Cuomo in the Regional Economic Development Council (REDC) Initiative $1 Million to  be matched with SBA Funds to create $2 million in loan capital for the Hudson Valley Businesses October, 2015--Community Capital New York, the largest nonprofit SBA microfinance lender in the region, was awarded $1 million in loan capital by Governor Andrew Cuomo in ...
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$2 million up for grabs for Hudson Valley businesses

BEACON — Small businesses in the Hudson Valley can look forward to a new $2 million fund for microloans. Money from Community Capital New York can make a huge difference to a little enterprise. Just ask Ernie Molina. Molina and his wife, Mary, began their business, Lola Granola, named after their daughter, several years ago when they'd hit hard times financially. The Bedford Hills couple got a loan from the Community Capital nonprofit ...
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The Power of Rent Reporting

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Featured in The Journal News

For 25 years Hawthorne-based Community Capital New York has been an alternative lender for small businesses that can't get traditional loans. The nonprofit group estimates that it has invested more than $2,175,000 in Putnam, Rockland and Westchester counties. Those loans have helped create about 3,000 jobs and 78 start-up businesses. "A lot of businesses, particularly start-ups, have a very difficult time getting bank financing," said Kim ...
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Mission Accomplished!

A cornerstone of CCNY’s mission and philosophy is to make small businesses bankable and to provide an on-ramp to the main stream financial system. To that effect, we partner with banks and financial institutions throughout the Hudson Valley who refer businesses to us that just miss the qualifiers of ‘traditional’ bank loans. CCNY provides the business an opportunity to prove themselves by establishing and growing their operations so that ...
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