Tag Archives: your-business

Does Your Small Business Website Have the Cybersecurity Basics Covered?

The post Does Your Small Business Website Have the Cybersecurity Basics Covered? appeared first on HostGator Blog . Think your business is too small to be targeted by hackers? Think again. Last year, 43% of all reported data breaches affected small businesses —and the costs of recovering from a breach are high enough to force many small businesses to close. So, if you’ve recently launched your SMB website or are getting ready to launch, make sure you’ve got these 8 cybersecurity basics nailed down. 1. Domain Privacy There are so many things to love about the internet, but spammers, identity thieves, and stalkers are not among them. You can protect yourself with a domain privacy plan that shields your name, email, mailing address, and phone number from people who look up your site in the ICANN’s Whois database.  2. SSL Certificate An SSL certificate is a must-have if you run an eCommerce store or collect visitor information on your site. That’s because an SSL certificate proves that any data your visitors send to your site is encrypted, so hackers can’t see it while it’s in transit. (You can read a more detailed SSL explanation here.) SSL certificates also keep visitors from seeing a browser warning that your site may not be secure. Plus, they may also help your site rank better in search results. 3. Automatic Site Backups If your business website site is hacked, or if an update crashes it, you need a way to get up and running again fast so you don’t miss out on customers. Get an automatic site backup service like CodeGuard , and you can quickly restore the most recent uncorrupted version of your site if something goes wrong. Make sure that whichever service you choose runs daily backups, so you don’t have to go back to an out-of-date site version in case of a crash.  4. Automatic Malware Scans and Removals Thanks to cybercriminals armed with botnets and malicious code, all sites are continuously at risk for malware injections that can steal data and let criminals take over sites. This means site owners need to monitor their sites closely for attacks. And the only practical way to do this is with automatic scans. A site-scanning tool like SiteLock gives you daily protection from new malware and botnet attacks. SiteLock also seeks out vulnerabilities on your site, so you can fix them before hackers exploit them. 5. Automatic Domain Renewals Domain registrations don’t last forever. At some point—anywhere between one and 5 years from when you first sign up–you’ll need to renew. If you don’t, you can lose control of your business domain name, and anyone who comes along and buys up your expired domain may be able to access the email accounts on it. That could open you and your customers up to data theft and fraud. The best way to prevent this is to enable automatic renewals, either when you register your domains or during your next renewal. You may also be able to switch to automatic renewals now by logging into your domain registration account and adjusting your billing preferences. (HostGator customers, here’s how you can renew your domain registration.) 6. Automatic WordPress, Plugin and Theme Updates On the internet, you have to stay up to date. That includes WordPress software and the plugins, themes, and addons you choose for your SMB site. Why not stick with the old versions if they’re working for you? There are lots of reasons, but the main one is security.  Some updates are designed to patch flaws that hackers have shown they can exploit. So, when updates are announced, you need to install them right away. But updates don’t always come out on a schedule, and if you have a large site with lots of plugins, updating manually can be a hassle that’s too easy to postpone. The solution is to set WordPress and everything else on your site—themes, plugins, etc.—to update automatically. You can do this within most apps, or you can use a WordPress security plugin like Easy Updates Manager to handle it all for you. 7. Seriously Secure Passwords One of the simplest ways to protect your SMB website is to use a unique, secure WordPress password that would-be hackers are unlikely to guess. Make sure that any employees or contractors who have access to your site use secure, unique passwords, too.  You might think this goes without saying, but even in 2019, too many people are still using passwords like 123456 , monkey, and blink182. 8. Site Login Protection Login forms on your site make it easy for customers to sign into their accounts with your store or business. These forms also create potential weak spots where attackers can break in. In simple terms, a bot-powered brute force attack can try thousands of possible login credentials to try to get past a login form. If they find a way in, they can unleash malware, ransomware, or other mayhem to disrupt your business. To keep bad actors and botnet attacks from experimenting with logins until they find a way in, add some layers of protection to your sign-in forms.  One option is to limit the number of login attempts a user can make in one session. For example, after three failed attempts, the user is locked out of trying again until they contact your tech support team for more guidance. This lets legitimate customers get the help they need and prevents bot-powered brute force logins. Another option is one you probably see every day. Ask visitors to prove they’re not a robot when they sign in with a reCAPTCHA tool. The Contact Form 7 plugin lets you enable reCAPTCHA , or you can install a different reCAPTCHA plugin for the forms on your site. Yes, it’s an extra step for your site visitors, but one that can keep your visitors and your business safe from bot-powered data theft. Now that you know the cybersecurity basics, are you ready to set up your site?  HostGator’s Managed WordPress Hosting plans come with CodeGuard, SiteLock, and SSL certificates for free and make it easy to buy domain privacy services. Find the post on the HostGator Blog Continue reading

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5 Steps to Improve Your Chances of Getting a Good Online SMB Loan

The post 5 Steps to Improve Your Chances of Getting a Good Online SMB Loan appeared first on HostGator Blog . For eCommerce businesses , the costs to startup may be small compared to a brick-and-mortar ventures. But the costs to achieve real growth can hinder them just the same. Funding new initiatives—a site redesign, an expansive digital marketing campaign, a bulk order on inventory—is difficult without outside capital. And to achieve that capital, most businesses (particularly small eCommerce firms) won’t get venture capital funding. They’ll need to use debt financing instead. Debt financing (usually in the form of a business loan, line of credit, or other financing that requires paying back the principal plus interest) is a risk, but it’s also how business owners maintain full control of their business while accessing funds that wouldn’t be available to them otherwise. These days, eCommerce business owners may choose from a variety of loan options. Not all of these funding options will sound good to you—especially if you’re a new business, or if you’ve struggled with credit in the past. Whether you’ve already applied for a small business loan and come away disappointed with the offers, or you’re gearing up to apply with either your local bank or an online lender, there are some important steps you can take to improve your chances of getting a quality, low-interest business loan offer and moving ahead with your plans. Consider taking some or all of the following five steps: 1. Build your business credit Just as you have a personal credit score (more on that below), you have a business credit score that reflects the creditworthiness of your business history. Your business credit score—which typically ranges from 1-100—is financial shorthand for whether lenders or vendors should feel comfortable extending you credit, as well as for how much and on what terms. Generally speaking, many of the main factors that determine your score are universal. Knowing what they are is the first step in knowing how to work on them or otherwise improve their standing in the eyes of credit bureaus. In order to build up your business credit, focus on the following tactics: Dispute errors and inquiries Get into the habit of checking your business credit report regularly. Credit bureaus are far from perfect, and sometimes they will report charges, pulls, or other dings to your record that aren’t accurate. If you see an inaccuracy in your report, don’t wait for the record to correct itself: Contact the bureau and dispute it. Even a few points off your score can affect your application.  Decrease your credit utilization ratio Your credit utilization ratio is the amount of credit available to you compared to how much of that credit you’ve used. If you have a business credit card and a line of credit, and both of them are maxed out, that tells lenders that you already have a fair amount of outstanding debt to pay back. Pay off your credit balances and keep them as low as possible, particularly ahead of a loan application. Pay your bills on time It’s crucially important to pay all of your bills and debts on time. Whether it’s your utility company or a vendor, falling behind on your payments can negatively impact your score. Form responsible credit habits If you haven’t been paying much attention to your business credit score, or carry a low score because of a prior venture gone bad, it’s time to start building up a positive credit history. Obtain a good business credit card and start using it while making regular repayments. Even this simple process can help rebuild your score over time while instilling positive spending habits. Add trade references to your credit report If you have a good relationship with a vendor or supplier, see if you can create a credit account with them. Assuming you make consistent on-time payments on that account, you can add them manually as a “trade reference” to your credit report (assuming they don’t already share payment data with a credit reporting agency). These references demonstrate your fiscal responsibility and history with vendors or providers like wholesalers and attorneys. 2. Improve your personal credit score It’s true: Lenders want to make sure that you’re just as responsible a spender in your personal life as you are in business. Remember, your personal credit score ranges from 300 to 850, with 850 being a “perfect score.” Here’s a general breakdown of credit score tiers : Exceptional: 800-850 Very Good: 740-799 Good: 670-739 Fair: 580-669 Bad: 300-579 You won’t even be considered for certain loan products if your score is below the “good” tier, and you’ll be more likely to get a low interest rate if your score is in the “very good” to “exceptional” range. So, how do you bump up your personal credit in advance of a small business loan application? Many of the same guidelines that apply to business credit apply to your personal credit practices. That means you should pay your bills on time, reduce your credit utilization, dispute errors on your report, and so on. You’ll also want a diverse “credit mix” of different products, such as a credit card and a personal or student loan. 3. Wait it out: Increase your “time in business” This factor plays a role in improving your business score, but it’s important enough that it deserves special consideration. Quite simply, your business is going to need to be around for awhile before lenders consider you for a good small business loan. For example, though there is no “official” time in business qualification for an SBA loan —considered the gold standard of small business loans—you’ll need to be in business for at least two years to be considered.   Your business staying solvent and profitable for several years shows lenders that your business model is working and you’re a good bet to stick around for the long haul. And unfortunately, nothing can prove your longevity like longevity itself. Of course, if your funding need is pressing, this isn’t an option. But if you’re looking for a small business loan for a project that isn’t imminent, you’re better off waiting and improving your time in business in order to get the best loan offer possible. 4. Boost your revenue and cash flow This step, of course, is easier said than done. But your annual revenue and monthly cash flow will both likely be reviewed by lenders, which means you’ll strengthen your case by making more money. Some of the best loans on the market, such as SBA loans or high-quality business lines of credit, will look for businesses that produce at least $100,000 in annual revenue. Other affordable loan products require at least $50,000 in annual revenue. Start thinking about what steps you can take to boost your revenue over the next six-12 months. Will a new marketing campaign help boost sales? Can you add a new product or service to your line to pull in new, related business? Additionally, improving your monthly cash flow is also an important step. Find ways to get paid faster by clients and customers, such as tightening your net payment windows, or manage your expenses by reducing spending on inventory in slow months. 5. Gather and prepare important documents Most business loan applications will require you to submit certain documents, such as bank statements, tax returns, proof of ownership, and a driver’s license. For the best small business loans, however, you’ll likely have to go a bit further. SBA loans require that you submit a business plan, business debt schedule, profit and loss statement, and balance sheet as well. Writing up a business plan ahead of funding is good practice whether or not it’s technically required by a lender. By creating a business plan, you’ll outline your business objectives and goals, get a handle on current finances and future projections, and create a more persuasive case for investment or lending. Take the time to gather up all the important information, documents, and forms you need ahead of your loan application. Otherwise, you’ll have a lot of back and forth with your lender that can drag on for weeks or months. The faster you go through the process—and receive your outcome, good or bad—the sooner you’ll know what your options are, and whether you’ll need to make improvements.   *** Taking on a small business loan to finance your new eCommerce projects or initiatives is always a risk. By strengthening your case for a quality loan, however, you reduce that risk and improve your chances for success over the long run. Follow these steps and you’ll soon see better options from lenders. Find the post on the HostGator Blog Continue reading

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7 Mistakes Internet Entrepreneurs Make with Business Credit Cards

The post 7 Mistakes Internet Entrepreneurs Make with Business Credit Cards appeared first on HostGator Blog . A business credit card is a powerful financial tool that all good entrepreneurs should have at their disposal. But as they say, with great power comes great responsibility. When you’re running an eCommerce business , a business credit card helps you build business credit, allows you to finance a variety of important business-related purchases, and provides lucrative rewards, perks, and protections. It truly does it all. That being said, it’s easy to lean too heavily on your business credit card, or otherwise misuse it in an attempt to wring all possible value out of it. Not understanding the relationship your business credit plays to the rest of your business also leads to errors that have a ripple effect on your bottom line. Whether you’re exploring options for your first business credit card, looking for another card as your eCommerce venture scales, or a long-time business owner who hasn’t given your business credit much thought in awhile, here are seven mistakes entrepreneurs make with business credit cards . 1. Using their credit card to finance overly large purchases It can be tempting, once you get a hold of your new business credit card, to finance everything with it. Cloud-based software subscriptions, shipping costs, inventory—you name it. If you get points back on every purchase, why not get a discount on every purchase you make? This works, but only to a point. But financing hugely expensive purchases that will take a long time to pay down with your credit card doesn’t make sense—your credit card interest rate will likely be too high. Unless you have a 0% APR during your introductory period, or a plan to pay down your charges quickly, the extra costs will rack up. If you want to purchase something on credit that you expect will take months, or even years, to pay off, consider finding an alternate source of small business financing , such as a line of credit, loan, or inventory or equipment financing. 2. Maxing out their credit cards Whether it’s personal credit cards or business credit cards, using as much of your credit available to you as possible is never a good idea. One of the main perks of having a business credit card is its flexibility. Hit with an unexpected charge, or want to surprise your team with a party for meeting an end-of-the-month goal? If you’ve already maxed out your cards, you lose out on your ability to spring for sudden purchases. Additionally, maxing out your cards throws your credit utilization ratio out of whack. This ratio is simple: How much credit is available to you, and how much of it are you using? Lenders look at this ratio when you apply for a loan to get an idea of how much outstanding debt you have. If you already appear overextended, creditors are less likely to offer you additional funding. Keep your credit utilization ratio below 30% and you’ll appear much more responsible to future lenders—as well as have plenty of wiggle room to take on unexpected expenses.  3. Carrying a balance from month-to-month Carrying your balance over from month-to-month is another mistake business owners make when they put too much stock in rewards points over their ability to repay their debt. The bottom line is that reward points and perks will never be worth having to make interest payments on your purchases. Your exact APR will vary depending on your credit history and situation, but even the best cards have APRs north of 13%, and it will likely be higher. When possible, only put on your card what you can afford to pay back at the end of the month. This habit will help build your business credit score and keep your money where it belongs—in your business bank account.  4. Mixing business and personal expenses If you use a business credit card for only one reason, it’s this: To separate your business and personal expenses. Everything else is window-dressing—albeit quite attractive window-dressing.  So if you’re ever in a situation where you want to cover a personal expense with your business card, or vice versa, due to convenience or forgetfulness or wanting to take advantage of reward points—don’t.  Mixing your expenses is also called “ piercing the corporate veil, ” and doing so may expose your personal assets in the event that your business goes bankrupt or you’re the subject of a lawsuit. Even a seemingly harmless one-off purchase can have repercussions. Plus, come tax season, you’ll be so much happier that you don’t have to parse through all of your personal credit statements for the odd business expense to write off. 5. Offering corporate credit cards to employees without setting boundaries You may get to a point in your small business where it’s easier to extend individual corporate credit cards—physical or virtual—to your team members, rather than forcing them to contact you for the approval of every purchase. This is a good thing: It means your business is growing and you have faith in your team. That being said, your employees may not be privy to all of your cash flow needs, and may not understand how easy it is to hamstring a small business with uncapped spending. Worse, their unchecked spending may affect your business credit, hampering your borrowing capabilities for years to come. Before issuing credit cards, discuss with employees exactly what qualifies as a business expense, and let them know that you’ll have clear oversight into their spending.    6. Overlooking credit cards with annual fees There’s a tendency for small business owners to want to cut costs any way they can. Often, this frugal mindset serves the well, and innovative techniques are borne out of the necessity to stay under budget. Sometimes, however, small businesses need to invest. And while there are plenty of excellent no-fee credit cards out there, some business credit cards have an annual fee that are worth it—depending on how you plan to use it. Research annual fee business credit cards and see what you get for your money. If you spending habits align with the perks offered on the card—point multipliers on travel, for example—you may actually come out ahead each year quite easily. Bottom line: Don’t instantly write off a credit card just because it’s not free.    7. Closing rarely used accounts As you continue to open up lines of credit and credit cards throughout the life of your business, you might think it’s time to close up your old accounts so you have an easier time reviewing your finances. But closing your accounts affects your credit utilization ratio. If there are no clear benefits to closing those accounts other than streamlining things, it’s better to just leave them open and give your business even more credit overhead. If your accounts are charging you money—e.g., with an annual fee—and you need to close them, time your decision strategically. About to apply for a loan from a bank or online lender? Hold off until after the deal is done.   *** Many of the best practices for personal and business credit cards are typically the same: Don’t be late with your payments, don’t spend more than you can afford. The difference with some of the above mistakes that they can truly prevent your business from taking important steps in its growth process. Don’t limit your business to unaffordable lending options, or waste your time parsing through mountains of expenses. Make your life simple by avoiding these mistakes, and everyone involved in making your eCommerce business a success will be happier for it.  Find the post on the HostGator Blog Continue reading

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BuddhaHost.ca – Reseller 150GB Data/75TB Transfer for $5/month

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