Blog

Androscoggin Bank appoints nine new Corporators at its 2021 Annual Meeting. As active leaders in their communities and areas of expertise, they bring valuable perspectives to the Bank’s economic and community initiatives. The new Corporators are Kate Adams, Renee Bernier, Todd Gagne, Lori Gile, Rebecca Hatfield, Jim Henry, Reza Jalali, Gael Karomba and Richard Veilleux.

For those who aren’t natural number crunchers, bookkeeping can feel like a chore—particularly when it comes to dealing with money you owe other businesses. 

To help prevent your business from ending up in a cash crunch during tough times, here are five steps you can take to collect your accounts receivable faster.

One tool used in business succession planning is the buy-sell agreement. A properly designed buy-sell agreement can allow you to keep control of your business until retirement, disability, death or other specified event.

Business valuation plays a critical role in determining gift and estate tax liability and/or the appropriate selling price for an interest. Because valuing a business is so important, you should be very careful when selecting an appraiser.

When developing a succession plan for your small business, you must make many decisions. Should you sell your business or give it away? Should you structure your plan to go into effect during your lifetime or at your death? Should you transfer your ownership interest to family members, co-owners, employees, or an outside party?

Values-based leaders articulate their values clearly and consistently, both inside and outside of the company, and they use those values to build relationships and guide important decisions.

Running a small business is a challenge no matter who you are, but minority business owners may face specific hurdles. Fortunately, minority business owners can take advantage of certifications that provide access to contracts, mentors, funding and more. 

Many cyber attacks and scams fall into one or more of a handful of broad categories. Familiarizing yourself with them will give you a sense of your vulnerabilities.

For businesses operating in the digital age, tech problems are inevitable. Unfortunately, our reliance on tech experts to solve these problems has given rise to a dangerous type of fraud: tech support scams.

Scammers are using emails and phone calls to trick employees into facilitating a crime that damages their company in the form of wasted time and lost money.