For the month of May, as we head into Memorial Day, the Small Business Matters blog will feature a series of posts highlighting military veterans who went into business for themselves. We’ll ask them about making the transition from military to small business, what challenges they faced, and how their career in the service prepared them to run their own small businesses. A 2017 Small Business Association report on Veteran-Owned Businesses states that over 2.5 million businesses in the United States are majority-owned by veterans. Nearly all were small businesses, and over half were based out of their homes. While on active duty, many veterans faced situations where they had to be hardworking and resourceful. They’re driven and often fearless leaders who have traveled the world and learned how to work in uncomfortable environments. Many discovered their passion during their time in the service while others found that starting their own business fit their mobile lifestyle. Today we’ll hear from one veteran entrepreneur who drew from her military training to overcome a professional setback, and how the military prepared her to be an entrepreneur.   Sarah Stahl is a mother of 3 children who served in the Army as a Finance Specialist for 3 years. While enlisted she met her husband of 16 years, Daniel, and for the next 12 years, she has been a military spouse. They are still transitioning to civilian life after leaving the military 2 years ago. Stahl discovered her entrepreneurial spirit in high school. She didn’t have a desire to go to college because she didn’t feel like it was a good fit for her. The military was appealing for training and the ability to travel the world. After leaving the military to raise her children, she tapped into her restless entrepreneurial spirit and began creating and selling wedding invitations on the e-commerce site for handmade items, Etsy. Selling on Etsy allowed her to work from anywhere and remain home with her young children. It was a chance encounter through the website that led her to meet the person who would become her business partner. “I had an unusual request for a World of Warcraft wedding invitation, with the bride and groom’s faces built into the invitations. I asked on an Etsy forum for anyone who could help and Merrilee answered.” Together they started taking on personalized requests for wedding invitations and built their first business together, Paper Perfections. As Stahl and her business partner worked closely, and over the internet, they became like sisters. Their friendship led to the creation of their current company, Avant Creative. What did you like best about the military? “World travel & the tight-knit comradery that I have yet to find outside military life. I’m only 36 but my time on active duty (3 years) and as an active military spouse (12 years) I already feel like I’ve lived a whole life. The business venture I’m working on now is a chance to live a second life.” Sarah is also finishing up a masters degree, thanks to her time in the military. How did the military prepare you for entrepreneurship? “I learned about leadership, integrity, and having a DON’T QUIT mentality.” Sarah and Merrilee finally met in person last fall and a month later, Merrilee passed away suddenly. Stahl is still recovering from the loss. Transitioning out of the military, moving to a different place every few years, and running an online business means that Stahl often felt very isolated. “Merrilee was my crutch,” Stahl says, “But I’m independent. I can’t go back to work.” Stahl made the very difficult decision of continuing the business without her friend, “There were 4 of us in total but she knew the other two partners better. Out of necessity, we’ve had to band together to get a hold of things. We’ve had to go through this crisis together so we’re moving towards a partnership.” Business is growing and they’re considering a legal partnership. Although there are still decisions to be made, Stahl is looking forward to growing Avant Creative. What is the hardest thing about being a small business owner? “Probably the fact that there isn't anyone to fall back on. I constantly feel like I'm out on a limb, recreating the wheel. It causes stress in all areas of life and makes me question if what I'm doing is the best path for life.” What is the best thing about being a small business owner? “My schedule. My husband and I have 3 kids and it's invaluable to be able to adjust my work schedule, however, I need to in order to both support and be available for our children.” Did you look into government programs or funding for your small business? “I looked into getting a startup business loan but I’m nervous about funding and interest rates. I’ve been bootstrapping the business, using whatever cash I have on hand. I was looking for funding for a solid brick and mortar, but the debt scares me. I do want to invest in the business and keep growing but I’m not sure if I should go to an investor or get funding. There are still a lot of decisions to be made.” To drive awareness for Avant Creative, Sarah uses social media extensively. She hosts a weekly “Reinventing Marketing” session on Facebook live, where she shares marketing tips and best practices.  She also writes articles and posts videos on LinkedIn where she talks openly about the challenges being an entrepreneur.  Her approach to LinkedIn is to establish a professional brand which leads other entrepreneurs to her marketing services. With young children, a growing business, and finishing up an advanced degree, there’s no question that Sarah Stahl’s time in the military has helped her to step outside of her comfort zone. Hardworking, resourceful entrepreneurs benefit from the military training and experience and Stahl is no exception.

In this post, Experian takes a closer look at specific challenges women business owners face gaining access to capital for their business.

With the Tax Cuts and Jobs Act of 2017 making dramatic changes in new tax law, business owners should be asking themselves how to plan for the future.

According to a new report women entrepreneurs still face significant obstacles starting and running a small business.

The commitment required to apply for a business loan may have you on the fence, unsure of whether or not to move forward. You’re not wrong to be cautious

Consumers are being urged to monitor and lock or freeze their credit profile, but how should small business owners respond? Will a freeze impact a business?

Man in the middle scams are on the rise, and art galleries and dealers have emerged as high value targets for this cyber crime.

Building and maintaining a strong business credit report takes time, and good fiscal discipline, but many business owners don’t know where to start on their road to establishing business credit. Business credit reports less regulated than consumer credit Business scoring is much less regulated than consumer credit scoring. The process of scoring your business is much more complicated and less clear than the consumer scoring process. For example, additional factors that can impact business risk models include the number of years a business has been operating and its industry type. Don't assume you have a business credit score Just because you have a business, don't assume you have a business credit score. Credit bureaus require a minimum amount of information before they can generate a report and score for your business. To establish your business credit history, encourage your vendors to report your payment history to the business credit bureaus. Many credit bureaus can provide you with information on suppliers who report to them. Keep business credit and personal credit separate Next – let’s talk for a moment about separating your personal and business credit. To build strong business credit, don't rely on your personal credit rating to finance your business. If your business becomes at risk, so will your personal credit score. Keep in mind that many creditors are now looking at scoring tools that consider both personal and business credit to predict small business risk. Business credit reports available to the public It is not widely known that access to business credit scores and reports is not as restricted as personal credit reports. Business credit reports are available to the public, and anyone - including potential lenders and suppliers - can view your business credit report. This makes it imperative to monitor your business credit score and report in an ongoing manner. Also - You can proactively manage your business credit score. Ensure your vendors are reporting your business payment history, and monitor your business' credit on a regular basis. For more information on business credit resources, plus articles and tips on this subject, go to BusinessCreditFacts.com. Learn more about establishing business credit by viewing our series of Business Credit Facts videos.  Remember to subscribe to our channel for ongoing updates.

In the aftermath of Hurricanes Harvey and Irma, news outlets reported the FEMA statistic that 40% of small businesses never recover after a disaster. With 74% of small businesses closed after Hurricane Sandy, a 2015 Nationwide Insurance survey stated that 75% of small businesses still don't have a disaster plan in place. For overwhelmed small business owners, the possibility of a natural disaster may be a low priority compared to keeping customers happy and the bills paid. When an unfortunate and unplanned disaster strikes, they have to be creative when putting their lives and their businesses back in order. Savvy business owners who prepare in advance can usually mitigate potential damage to their business by being prepared and activating their business continuity plan. Small Business Disaster Planning With natural disasters, from hurricanes, flooding, tornadoes, earthquakes, or wildfires, there is a potential loss of: Office premises including equipment, supplies, furniture, and more. Records, paper or digital, that are necessary to keep the business running. Any goods or supplies needed to sell goods or services to customers. Employees' homes and the likelihood of their return to work. Suppliers or distributors who are unable to reach your place of business. Customers who may do business elsewhere if they are unable to reach your business. Office equipment and the like can be replaced eventually, but company and accounting records cannot. The U.S. Small Business Administration has created a Record Keeping for Small Business Guide to assist with the necessary records, such as contracts, licenses, leases, personnel information, and accounting records, for rebuilding your business. FEMA (Federal Emergency Management Agency) also has a Small Business Preparedness website for disaster planning. Helpful tips include storing records in the cloud, creating a threat analysis, purchasing business insurance, and the development of a continuity plan to include communication with employees, vendors and suppliers. The goal is to get back online as soon as possible so the loss of customers is minimal. Filling the gap Many business owners are finding out that their business insurance will only cover so much, and there is a significant gap between what is paid out in claims and what is needed.   So many are forced to think up creative solutions to getting their businesses back online by borrowing from friends, family and investors.  Entrepreneurs familiar with innovative financing options of startup capital are beginning to turn to relying on crowdfunding when disasters occur. Crowdfunding for Small Business Recovery Crowdfunding is a familiar source of capital to entrepreneurs with new or growing businesses. Many entrepreneurs relied on sites such as Kickstarter or Indiegogo to raise funds and a potential audience for their service or product. The 2017 University of Chicago Alternative Finance Benchmarking Report found that while equity-based crowdfunding decreased 7% last year, "Donation-based Crowdfunding grew by 60%, generating $224 million in 2016." The same report noted that over the past 3 years, donation-based crowdfunding has increased by 40%. This is good news to entrepreneurs who are also using crowdfunding to help raise funds after an unexpected natural disaster. Ashley Freeman, with Handy Ma'am home improvement services in Houston, TX, relied on Go Fund Me to help with her recovery in the aftermath of Hurricane Harvey. Ashley ran a campaign to replace tools and supplies that were damaged in the storm. Her goal was met but she's still recovering, "Go Fund Me was a great head start to getting back to where I need to be," says Ashley. "I'm so thankful for knowing so many people care as much as I do when other people are in need." Kiva, a non-profit organization dedicated to raising funds for entrepreneurs in 80 countries, is another crowdfunding platform being used by those affected by the September 2017 hurricanes. Jonny Price, a senior director with Kiva U.S., is proud of the work they're doing to support small businesses. "At Kiva, our aspiration is to leverage the generosity of our 1.6 million global lenders to expand financial access for entrepreneurs deemed too risky or expensive to serve by conventional lenders. Supporting small businesses hit by natural disasters like Hurricanes Harvey, Irma and Maria is one powerful and relevant example of how we hope to meet that aspiration. This loan to Matilsha in Puerto Rico was funded recently by 358 Kiva lenders. We hope that, through long-term reconstruction efforts, Kiva's sustainable lending model can complement the heroic work of more donation-based first responders like the Red Cross." Recovery Doesn't Have to be a Disaster 2017's hurricanes and wildfires have unfortunately put business owners on task to prepare for a worst-case scenario. FEMA and the U.S. Small Business Administration have created online guides for helping small businesses recover, and will also help financially through low interest loans. While businesses and residents await their turn in securing financing for rebuilding, more entrepreneurs and business owners are turning to alternative sources of financing to get back to the business of serving customers.