Category: Business

Monday, March 16, 2020

CoreCivic (CXW)

Research Initiation-CoreCivic, Inc.: Leading Provider of Mission Critical Real Estate to Government

CoreCivic is a diversified government solutions company with the scale and experience needed to solve tough government challenges in flexible, cost-effective ways. We provide a broad range of solutions to government partners that serve the public good through corrections and detention management, a growing network of residential reentry centers to help address America’s recidivism crisis, and government real estate solutions. We are a publicly traded real estate investment trust and the nation’s largest owner of partnership correctional, detention and residential reentry facilities. We also believe we are the largest private owner of real estate used by U.S. government agencies. The Company has been a flexible and dependable partner for government for more than 35 years. Our employees are driven by a deep sense of service, high standards of professionalism and a responsibility to help government better the public good.

Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Leading Provider of Mission Critical Real Estate. Through its three segments, CoreCivic is a leading provider of mission critical real estate to its governmental partners. The Company is the leading provider of private correctional facilities, controlling 58% of all privately-owned beds, is the second leading provider of residential reentry facilities, and provides mission specific real estate to other government agencies.


Significant Growth Opportunities.  CoreCivic enjoys significant growth opportunities across its three business segments. Current excess capacity could result in…

Click to get the full report.

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst
certification and important disclosures included in the full report. 
NOTE: investment decisions should not be based upon the content of
this research summary.  Proper due diligence is required before
making any investment decision. 

Channelchek Charts of the Year (2019)

(Note: companies that
could be impacted by the content of this article are listed at the base of the
story [desktop version]. This article uses third-party references to provide a
bullish, bearish, and balanced point of view; sources are listed after the
Balanced section.)

Small-cap and micro-cap stock investors know that bigger isn’t always better. This is one truth that’s agreed upon. But, markets (stocks, commodities, real estate, etc.) trade on buyers and sellers not agreeing.  That is, one party deciding a particular price makes something worth selling, while another thinks it’s worth buying. These, of course, aren’t the only reasons people buy or sell. There are also investors that are creating or adding to a position they want to hold as a long-term investment, while at the  same time, short-term investors or day-traders may be getting out of a position because it has already met, or no longer meets their trading criteria. The buying and selling, for whatever the goal, creates volume which adds to the ability to trade at a “fair” price.

Companies listed in the S&P 500 and other large corporations never seem to have a shortage of buyers and sellers. If an investor or trader is looking to execute shares in the index, they would expect them to be readily tradable. Buying or selling shares of  smaller companies is often more challenging. Many small and micro-cap corporations don’t yet have the luxury of being as well recognized or as broadly traded. This can mean significant opportunity for investors who dig through research, learn about companies, then capitalize on inefficiencies that cause stocks to be unrecognized or improperly valued.

Recognition from analysts, the media, or Wall Street help to build knowledge of companies. This understanding leads to more efficient bid and offers in their shares. With that in mind, below are one-year charts of companies represented on Channelchek that are gaining more recognition. These YoY performance charts were chosen from 2019 to highlight companies that had relatively low volatility, while at the same time added shareholder value. As suggested earlier, some investors hold for many years, while others trade out of a position in minutes. One year’s overall trend isn’t the only yardstick worth reviewing. This is why the Channelchek platform allows you to set your own search criteria on almost 6,000 companies. 

 

 

 

VEC – Vectrus,
Inc.

Up 137%
YoY

Source: Advanced Market Data,
Channelchek

Vectrus Inc is a U.S.-based
company that provides services to the U.S. government. It operates as one
segment and offers facility and logistics services and information technology
and network communications services. The information technology and network
communications capabilities consist of communications systems operations and
maintenance, management and service support, systems installation and
activation, system-of-systems engineering and software development, and mission
support for the department of defense. The facility and logistics service
include airfield management, ammunition management, civil engineering, communications,
emergency services, life support activities, public works, security,
transportation operations, and others.

 

The most recent Channelchek Analyst Summary for VEC is available here.

 

 

 

TGNA-Tegna,
Inc.

Up 53%
YoY

Source: Advanced Market Data,
Channelchek

TEGNA is comprised of a portfolio of media and digital businesses. TEGNA reaches more than 90 million Americans and delivers highly relevant, useful, and smart content, when and how people need it, to make the best decisions possible. TEGNA Media includes 46 television stations and is the largest independent station group of major network affiliates in the top 25 markets, reaching approximately one-third of all television households nationwide. TEGNA Digital is comprised of Cars.com, the leading online destination for automotive consumers, CareerBuilder, a global leader in human capital solutions, and other powerful brands such as G/O Digital and Cofactor.

The most recent Channelchek Analyst Summary for TGNA is available here.

 

 

CDE-
Coeur Mining, Inc.

Up 79%
YoY

Source: Advanced Market Data,
Channelchek

Coeur Mining Inc is a metals producer focused
on mining precious minerals in the Americas. It is involved in the discovery
and mining of gold and silver and generates the vast majority of revenue from
the sale of these precious metals. The operating mines of the company are Palmarejo,
Rochester, Wharf, and Kensington. Its projects are located in the United
States, Canada, and Mexico.

The most recent Channelchek Analyst Summary for CDE is here.

 

CMLS-
Cumulus Media, Inc.

Up 64%
YoY

 

 

Source: Advanced Market Data,
Channelchek

Cumulus Media Inc. is a radio broadcasting company combining high-quality local programming with iconic, nationally syndicated media, sports and entertainment brands to deliver premium content choices to its customers and radio stations affiliated with Westwood One network and numerous digital channels. Its segments include the Cumulus Radio Station Group and Westwood One. Cumulus Radio Station Group operates in the sale of broadcasting time to local, regional, and national advertisers. Westwood One operates through network advertising. The company’s revenue is derived mainly from the sale of commercial airtime to local and national advertisers.

The most recent Channelchek Analyst Summary for CMLS is here.

 

 

ACCO-
Acco Brands, Corp.

Up 38%
YoY

Source: Advanced Market Data,
Channelchek

ACCO Brands Corp designs, manufactures and markets consumer and business products. It operates through three segments: ACCO Brands North America, ACCO Brands EMEA, and ACCO Brands International. The company offers school notebooks, janitorial supplies, and whiteboards; storage and organization products, such as three-ring and lever-arch binders, sheet protectors, indexes, and punching products; computer accessories and others used in schools, homes, and businesses. It offers its products primarily under the AT-A-GLANCE, Five Star, GBC, Hilroy, Kensington, Quartet, Leitz, NOBO, Rapid, Rexel, Tilibra, and Wilson Jones brands. The company markets and sells its products through various channels, including mass retailers; e-tailers; discount, and variety chains; and warehouse clubs.

The most recent Channelchek Analyst Summary for ACCO is here.

 

 

  The year 2020 and the decade that follows will have its own set of interesting charts and companies worth paying attention to. Channelchek is proud to provide no-cost, high quality, third-party research to investors. We anticipate helping many more companies garner increased attention from investors throughout the years ahead. We also look forward to helping investors discover opportunities that may not have otherwise shown up on their radar.

 

 Feel free to share this article and if you haven’t already done so, create a (no cost) login at Channelchek.com to read quality articles and research not found anyplace else.  

Look for Channelchek at the NobleCon16 investor
conference.

Channelchek Charts of the Year (2019)

(Note: companies that
could be impacted by the content of this article are listed at the base of the
story [desktop version]. This article uses third-party references to provide a
bullish, bearish, and balanced point of view; sources are listed after the
Balanced section.)

Small-cap and micro-cap stock investors know that bigger isn’t always better. This is one truth that’s agreed upon. But, markets (stocks, commodities, real estate, etc.) trade on buyers and sellers not agreeing.  That is, one party deciding a particular price makes something worth selling, while another thinks it’s worth buying. These, of course, aren’t the only reasons people buy or sell. There are also investors that are creating or adding to a position they want to hold as a long-term investment, while at the  same time, short-term investors or day-traders may be getting out of a position because it has already met, or no longer meets their trading criteria. The buying and selling, for whatever the goal, creates volume which adds to the ability to trade at a “fair” price.

Companies listed in the S&P 500 and other large corporations never seem to have a shortage of buyers and sellers. If an investor or trader is looking to execute shares in the index, they would expect them to be readily tradable. Buying or selling shares of  smaller companies is often more challenging. Many small and micro-cap corporations don’t yet have the luxury of being as well recognized or as broadly traded. This can mean significant opportunity for investors who dig through research, learn about companies, then capitalize on inefficiencies that cause stocks to be unrecognized or improperly valued.

Recognition from analysts, the media, or Wall Street help to build knowledge of companies. This understanding leads to more efficient bid and offers in their shares. With that in mind, below are one-year charts of companies represented on Channelchek that are gaining more recognition. These YoY performance charts were chosen from 2019 to highlight companies that had relatively low volatility, while at the same time added shareholder value. As suggested earlier, some investors hold for many years, while others trade out of a position in minutes. One year’s overall trend isn’t the only yardstick worth reviewing. This is why the Channelchek platform allows you to set your own search criteria on almost 6,000 companies. 

 

 

 

VEC – Vectrus,
Inc.

Up 137%
YoY

Source: Advanced Market Data,
Channelchek

Vectrus Inc is a U.S.-based
company that provides services to the U.S. government. It operates as one
segment and offers facility and logistics services and information technology
and network communications services. The information technology and network
communications capabilities consist of communications systems operations and
maintenance, management and service support, systems installation and
activation, system-of-systems engineering and software development, and mission
support for the department of defense. The facility and logistics service
include airfield management, ammunition management, civil engineering, communications,
emergency services, life support activities, public works, security,
transportation operations, and others.

 

The most recent Channelchek Analyst Summary for VEC is available here.

 

 

 

TGNA-Tegna,
Inc.

Up 53%
YoY

Source: Advanced Market Data,
Channelchek

TEGNA is comprised of a portfolio of media and digital businesses. TEGNA reaches more than 90 million Americans and delivers highly relevant, useful, and smart content, when and how people need it, to make the best decisions possible. TEGNA Media includes 46 television stations and is the largest independent station group of major network affiliates in the top 25 markets, reaching approximately one-third of all television households nationwide. TEGNA Digital is comprised of Cars.com, the leading online destination for automotive consumers, CareerBuilder, a global leader in human capital solutions, and other powerful brands such as G/O Digital and Cofactor.

The most recent Channelchek Analyst Summary for TGNA is available here.

 

 

CDE-
Coeur Mining, Inc.

Up 79%
YoY

Source: Advanced Market Data,
Channelchek

Coeur Mining Inc is a metals producer focused
on mining precious minerals in the Americas. It is involved in the discovery
and mining of gold and silver and generates the vast majority of revenue from
the sale of these precious metals. The operating mines of the company are Palmarejo,
Rochester, Wharf, and Kensington. Its projects are located in the United
States, Canada, and Mexico.

The most recent Channelchek Analyst Summary for CDE is here.

 

CMLS-
Cumulus Media, Inc.

Up 64%
YoY

 

 

Source: Advanced Market Data,
Channelchek

Cumulus Media Inc. is a radio broadcasting company combining high-quality local programming with iconic, nationally syndicated media, sports and entertainment brands to deliver premium content choices to its customers and radio stations affiliated with Westwood One network and numerous digital channels. Its segments include the Cumulus Radio Station Group and Westwood One. Cumulus Radio Station Group operates in the sale of broadcasting time to local, regional, and national advertisers. Westwood One operates through network advertising. The company’s revenue is derived mainly from the sale of commercial airtime to local and national advertisers.

The most recent Channelchek Analyst Summary for CMLS is here.

 

 

ACCO-
Acco Brands, Corp.

Up 38%
YoY

Source: Advanced Market Data,
Channelchek

ACCO Brands Corp designs, manufactures and markets consumer and business products. It operates through three segments: ACCO Brands North America, ACCO Brands EMEA, and ACCO Brands International. The company offers school notebooks, janitorial supplies, and whiteboards; storage and organization products, such as three-ring and lever-arch binders, sheet protectors, indexes, and punching products; computer accessories and others used in schools, homes, and businesses. It offers its products primarily under the AT-A-GLANCE, Five Star, GBC, Hilroy, Kensington, Quartet, Leitz, NOBO, Rapid, Rexel, Tilibra, and Wilson Jones brands. The company markets and sells its products through various channels, including mass retailers; e-tailers; discount, and variety chains; and warehouse clubs.

The most recent Channelchek Analyst Summary for ACCO is here.

 

 

  The year 2020 and the decade that follows will have its own set of interesting charts and companies worth paying attention to. Channelchek is proud to provide no-cost, high quality, third-party research to investors. We anticipate helping many more companies garner increased attention from investors throughout the years ahead. We also look forward to helping investors discover opportunities that may not have otherwise shown up on their radar.

 

 Feel free to share this article and if you haven’t already done so, create a (no cost) login at Channelchek.com to read quality articles and research not found anyplace else.  

Look for Channelchek at the NobleCon16 investor
conference.

Should Investors be Wary of the Companies Raising Dividends?

(Note: companies that
could be impacted by the content of this article are listed at the base of the
story [desktop version]. This article uses third-party references to provide a
bullish, bearish, and balanced point of view; sources are listed after the
Balanced section.)

Everyone loves a dividend increase. Right?  After all, it puts more money into the hands of investors and who doesn’t like more money?  But in doing so, management is foregoing using capital that could repurchase shares, pay down debt, or invest in future growth opportunities.  Is raising a company’s dividend a sign of improved company health? Or is it a sign that management does not have better options? 

More Information on the Challenge Register for the Challenge Here

1 minute preview above. Click below to listen to the full episode.

The idea: Build a business by understanding the science of people. Meet Vanessa Van Edwards.

GUEST: National best selling author, 20+ million views on Youtube, and lead behavioral investigator with Science of People – Vanessa Van Edwards is renowned for teaching science-backed people skills to audiences around the world. Vanessa shares tangible skills to improve interpersonal communication and leadership, including her insights on how people work. She’s developed a science-based framework for understanding different personalities to improve our EQ and help us communicate with colleagues, clients and customers. Find out more as we dive into the hidden forces that drive human behavior, and much more. Running time 45:11 HIGHLIGHTS: 9:50 – Interview with Mrs. Van Edwards 18:10 – The 5 assets of personality backed by science. 25:04 – Why it’s important to understand that you have a story to tell… even if it’s not yours. HOST: Brant Pinvidic, Hollywood producer and director (Bar Rescue, Biggest loser), C-level corporate consultant, columnist for Forbes and author (3-Minute Rule – Penguin Random House, October 2019). The most innovative Ideas, the inspirational People behind them, and the wealth of Opportunities they create… that’s IPO from Channelchek.

watch the IPO series trailer

IPO Podcast Series: Vanessa Van Edwards

National best selling author, 20+ million views on Youtube, and lead behavioral investigator with Science of People – Vanessa Van Edwards is renowned for teaching science-backed people skills to audiences around the world. Vanessa shares tangible skills to improve interpersonal communication and leadership, including her insights on how people work. She’s developed a science-based framework for understanding different personalities to improve our EQ and help us communicate with colleagues, clients and customers. Find out more as we dive into the hidden forces that drive human behavior, and much more. Full episode available on Thursday, October 3rd 2019. The most innovative Ideas, the inspirational People behind them, and the wealth of Opportunities they create… that’s IPO from Channelchek, hosted by Brant Pinvidic

watch the IPO series trailer

Friday September 27, 2019

Kelly Services (KELYA)

What’s Next?

Headquartered in Troy, Michigan, Kelly Services provides workforce solutions to a diversified group of customers in three regions: the Americas; Europe, the Middle East, and Africa (“EMEA”); and Asia Pacific (“APAC”). The customer base spans a variety of industries and includes more than 90 percent of the Fortune 100 companies. In 2018, the assigned approximately 500,000 temporary employees to a variety of customers around the globe. In 2018, Kelly generated $5.5 billion of revenue and adjusted EPS of $2.27.
The Company provides staffing solutions through a branch networks in the Americas and International operations. In addition to staffing solutions, Kelly also provides a suite of innovative talent fulfillment and outcome-based solutions through its GTS segment, which delivers integrated talent management solutions to meet customer needs across the entire spectrum of talent categories. Using talent supply chain strategies, GTS helps customers design, execute, and manage workforce programs that enable them to connect with talent across all work styles (full-time, contract, temporary, etc.), gain access to a vast network of service providers, and achieve their business goals on time and on budget. In 2018, the Americas Staffing segment accounted for 43.8% of total revenue, International Staffing 20.3%, and GTS 36.2%.

Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to full report for price target, fundamental analysis and rating.

• Recent Conference. Kelly Services had a conference presentation earlier this week entitled “What’s Next.” And while there weren’t any ground breaking announcements, the conference served as the introduction of new CEO Peter Quigley, who officially assumes the new role October 1st, to the investment community.
• Quigley’s Take. While Kelly’s overall strategic direction will not change, Mr. Quigley is focused on…
  

  
  
  

  Get full report on Channelchek desktop.

  
  

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst
certification and important disclosures included in full report. 
NOTE: investment decisions should not be based upon the content of
this research summary.  Proper due diligence is required before
making any investment decision. 

Noble Capital Markets Launches Small and Microcap Equity Research Contest; Up to $7,500 Awarded to Winning Student Awards include cash prizes, internship with Noble Capital Markets, trip to NobleCon investor conference, and more BOCA RATON, Fla., Sept. 25, 2019 (GLOBE NEWSWIRE) — via NetworkWire – Noble Capital Markets Inc. announces the launch of its first College Research Report Challenge, designed to encourage college students to explore employment in the field of equity analysis. The Challenge calls for each participant to prepare an institutional-quality equity research report on one of the more than 6,000 small and microcap companies listed on Channelchek.com, a research resource featuring balanced news and commentaries, advanced stock market data, webcasts and podcasts, and equity research. Prizes awarded will include up to $7,500 to the winning student (or students, if the research is produced by a team); $5,000 for the winner’s college; a paid internship with Noble Capital Markets; video of the presentation ceremony featured on the NASDAQ Tower in New York City’s Times Square; and an  all-expense-paid trip to South Florida to attend the 16th annual NobleCon investor conference, which will feature executive teams from 125 small-cap and microcap companies. NobleCon16 will be held Feb. 16-18, 2020, at the all-new $2.3 billion Seminole Hard Rock Hotel and Casino in Hollywood, Florida. The Noble Capital Markets Challenge is supported by high-profile sponsors including Salem Media Group, Tribune Publishing, NetworkNewsWire, and Kelly Staffing Services, as well as platinum sponsors NASDAQ and E.W. Scripps, which is well known for its National Spelling Bee. “We are very pleased to be part of this Challenge,” said Lisa Knutson, CFO and EVP of Scripps. “Our company places a high value on education, and this contest is an excellent way to encourage college students to get a better understanding of the research process and, at the same time, discover the important contributions of small, innovative businesses in our economy.” The idea for the Challenge came from a student enrolled in the Noble Capital Markets Analyst Internship Program. “He didn’t even have to finish the sentence before we jumped on the idea,” said Mike Kupinski, Noble Capital Markets director of research. “For a variety of reasons, we’ve seen a dramatic decrease in the number of graduates seeking employment as equity analysts. It’s actually a lot more exciting than it sounds, and this contest should provide a little more incentive for students to find that out.” In a trend that began two decades ago, small and microcap companies have found it increasingly difficult to attract equity research coverage. Regulatory constraints, technology, the explosive growth of passive investing (ETFs), and liquidity issues have erased the incentive for Wall Street to invest in research. Traditionally, research written by SEC- and FINRA-licensed and regulated analysts was available only to institutions. In an effort to combat this dramatic decline in coverage and to broaden distribution of independent analysis of small and microcap companies, Noble Capital Markets now offers its research, at no cost, to anyone who registers on Channelchek.com.  “We’ve moved to a company-sponsored model that has allowed us to expand access to institutional-quality research and include groups who never received it before, like smaller investment advisors, family offices, independent brokers, self-directed investors and high-net-worth individuals,” Kupinski said. Contest Guidelines Contestants will be required to follow an established Wall Street format, including the following components: business description, headline and front-page bullet points (executive summary), investment appraisal, industry overview and competitive position, financial analysis, management and corporate governance overview, stock valuation, risk assessment, market rating and price target. The Challenge is open to students – without restrictions relating to age or academic specialization – who are registered at an institute of higher learning anywhere in the United States, Canada or the Caribbean. Contest registration closes Dec. 15, 2019, and the deadline for submissions is Jan. 17, 2020. The winner/winners will be announced Jan. 31, 2020. Entries will be judged by a panel of FINRA-registered senior equity research analysts from Noble Capital Markets who have industry accreditations, including “Best on the Street” as determined by the Wall Street Journal Survey. The full list of prizes as well as complete terms and conditions, required formatting and registration details are available at https://www.channelchek.com/college-contest. Register Here About Noble Capital Markets Celebrating its 35th year in business, Noble Capital Markets is an SEC-registered and FINRA-licensed broker/dealer dedicated exclusively to serving underfollowed small & microcap companies through investment banking, market making and equity research activities. Key sectors include technology, media, transportation and logistics, and natural resources. https://www.noblecapitalmarkets.com

Will the Slowing in Quarter 3 Affect Microcap Stocks?

A United-States-made capital goods shipments slowdown in the early third-quarter points to business investment troubles. Although new orders rose in July, shipments fell the most in nearly three years, indicating a continued decline in economic growth. Business investment contracted in the second quarter for the first time since 2016. According to Jerome Powell, uncertainty in trade policy could be playing a role in the decline of capital spending.

1 minute preview above. Click below to listen to the full episode.

The Idea: Become a Star, Built on “Terminal Goodlookingness:” Meet Rob Lowe.

This Hollywood icon landed his first TV role at age 15 and came to prominence as a teen idol and member of the Brat Pack with roles in films like The Outsiders and Oxford Blues. Find out from this insightful American actor how making a business out of being in “the business” is no easy road. GUEST: Following numerous television roles in the early 1980s, Rob Lowe came to prominence as a teen idol and member of the Brat Pack, with roles in films like The Outsiders (1983), Class (1983), The Hotel New Hampshire (1984), Oxford Blues (1984), St. Elmo’s Fire (1985), About Last Night… (1986), and Square Dance (1987). The success of these films established him as a Hollywood A-lister. Every year for the last 20 years, Lowe has been in a television series, including hits like The West Wing, Parks and Recreation, Brothers and Sisters, and Code Black. In this deeply personal and inspirational episode of the IPO podcast series, Rob tells it like it is and how it was to make a business out of being in “The Business.” Running time 49:29 – contains some explicit language HIGHLIGHTS: 14:15 – Interview with Mr. Lowe 15:14 – “I have terminal goodlookingness; it’s untreatable.” 41:30 – “Early in my career I was offered $1 million for one day’s work to do a coffee commercial… and they convinced me to turn it down.” HOST: Brant Pinvidic, Hollywood producer and director (Bar Rescue, Biggest loser), C-level corporate consultant, columnist for Forbes and author (3-Minute Rule – Penguin Random House, October 2019). The most innovative Ideas, the inspirational People behind them, and the wealth of Opportunities they create… that’s IPO from Channelchek.

watch the IPO series trailer

Entrepreneurs’ Tips To Take Gig Work To The Next Level

ATLANTA, Aug. 27, 2019 /PRNewswire/ — Eighty-one percent of Americans who currently have a side gig are interested in taking it full-time, according to a recent SunTrust survey. More than half of Americans (54%) report having a side hustle at some point to generate extra money, pulling in $8,794, on average per year. With these additional funds, people are able to pursue their  #bestlife on their own terms.

On average, millennials are making almost 20% more per year ($10,972) from their side hustles than Gen Xers ($8,791) and 46% more than Boomers ($5,892). The top reason for pursuing a side hustle among millennials is to generate additional income for saving purposes (46%), while the top reason among Gen Xers and Boomers is to make additional money for leisure activities (43% and 47%).

“There’s a reason the gig economy is so hot – it can be fun and financially fruitful,” said Brian Ford, financial well-being executive at SunTrust. “For some, a side hustle is a creative outlet outside of the daily grind. For many others, it’s a means to achieving the financial confidence and freedom to live life on their own terms. Whether the goal is to earn extra cash or take a side gig full-time, there are tools and services to help people propel their side hustle forward.”

So, what gets in the way of taking a fringe earning situation full time?

The overwhelming majority of those looking to make their side hustle their main gig (83%) face obstacles, from not having enough time to dedicate to it (36%) to not having enough financial capital (30%).

SunTrust offers the following tips to help would-be full time entrepreneurs make the grade in the school of side hustle:

• Time the Tipping Point: Determine when it is best to take a side hustle full time by weighing the trade-off of investing more time on your side gig versus your primary income source. Be mindful of the opportunity cost of sacrificing the stability of your total compensation package for unpredictable earnings potential.
• Focus on the Fund-amentals: Make sure to develop an initial business plan, goals and competitive strategy, and decide how to fund your business and pay yourself. You’ll also want to include business cash projections and their reliability along with other funding sources.
• Study the Setup: Determine the best legal structure for your business in conjunction with business advisors, such as an attorney and CPA. You’ll also want to understand regulatory issues in your industry, file appropriate permits and licenses and register your business and domain name.
• Build a Budget: Develop a budget and use it to regularly track your progress against planned revenues and expenditures. A budget will also allow you to view financial priorities and targets and measure actual business performance against projections. These types of guardrails are critical when you are busy, and cash-on-hand can’t absorb cost overruns.
• Track Your Finances: Separate personal and business finances with a business checking account. Set up online and mobile bank account access to monitor your daily cash position, pay bills and make easy transfers.
• Bank on Bookkeeping: Set up financial software to establish good bookkeeping habits and automate recordkeeping. Considering linking your business checking account and your financial software so you can easily record income and expenses, track receivables, pay bills and manage inventory.
• Work the Perks: Use credit or purchasing cards for expenses. Business credit cards offer tools to easily identify costs and manage employee spending limits and track usage. Online account access provides greater visibility into daily spending, and some cards even offer reward points or cash back on certain transactions.
• Set Up for Sales: Ramp up revenue faster than costs and expenses by focusing on actions that have the greatest impact on sales and building a customer base during the crucial early days.

SunTrust recently introduced its 21-day #bestlifechallenge, a social campaign to help people get on track toward achieving the financial confidence to live their dreams.

“As someone who took my photography side hustle into a full-time career, I knew that confidence in myself, my craft and my finances would be pivotal in this big decision to start my own business,” said Evan Ranft, a professional photographer based in Atlanta. “Participating in the #bestlifechallenge has allowed me to take a closer look at smarter ways to budget so that I can live my best life on my own terms, whether I’m saving up for a new camera lens or crossing a new destination off of my travel bucket list.”

For resources to help take your side hustle to the next level, visit SunTrust’s Small Business Best Practices site. You can also level up your financial confidence by joining the #bestlifechallenge at onup.com.

Survey
Methodology
This survey was conducted online within the United States by The Harris Poll on behalf of SunTrust from July 16 – 18, 2019 among 2,028 U.S. adults ages 18 and older, among whom 1,116 ever had a side hustle. The survey defines millennials as those age 23-38, Gen Xers age 39-54 and Boomers age 55-73. This online survey is not based on a probability sample and therefore no estimate of theoretical sampling error can be calculated.

About
SunTrust Banks, Inc.

SunTrust Banks, Inc. (NYSE: STI) is a purpose-driven company dedicated to Lighting the Way to Financial Well-Being for the people, businesses, and communities it serves. SunTrust leads onUp, a national movement inspiring Americans to build financial confidence. Headquartered in Atlanta, the Company has two business segments: Consumer and Wholesale. Its flagship subsidiary, SunTrust Bank, operates an extensive branch and ATM network throughout the high-growth Southeast and Mid-Atlantic states, along with 24-hour digital access. Certain business lines serve consumer, commercial, corporate, and institutional clients nationally. As of June 30, 2019, SunTrust had total assets of $222 billion and total deposits of $161 billion. The Company provides deposit, credit, trust, investment, mortgage, asset management, securities brokerage, and capital market services. Learn more at suntrust.com.

 View original content:http://www.prnewswire.com/news-releases/suntrust-survey-many-americans-interested-in-taking-their-side-gigs-full-time-300907711.html

SOURCE SunTrust Banks, Inc.

Source: PR Newswire (August 27, 2019 – 9:53 AM EDT)