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Written by Carolynne Walker, Managing Director, Kasvu Inc. for Lexicon Bank Click here to learn more about Kasvu Inc.   Studies of small businesses reveal a concerning trend: many operate without working budgets. Most skip monthly financial reviews, lack dedicated financial controllers, and miss the game-changing benefits of variance analysis—comparing actual results to planned goals. […]

Reinvesting in your community sounds great, but how does one really put that into action? If you’ve ever wondered if it matters where you deposit your hard-earned money, it does. Not only does banking locally support small businesses (community banks fund more than 60% of small business loans and more than 80% of ag loans), […]

Written by Carolynne Walker, Managing Director, Kasvu Inc. for Lexicon Bank Click here to learn more about Kasvu Inc.   Every business, whether a manufacturing plant, retail store, or service provider, experiences the same fundamental challenge: managing the timing between paying expenses and collecting revenue. This timing difference creates what we call the working capital […]

The financial landscape is evolving rapidly, and digital wallets are at the forefront of this transformation. Once considered a consumer-focused convenience, digital wallets and payment platforms are now making waves in the business banking world. From simplifying transactions to enhancing security, these technologies are challenging the dominance of traditional accounts. But does this mean traditional […]

Expanding into international markets presents exciting growth opportunities for businesses, but it also introduces a host of challenges, particularly when it comes to cross-border business banking. From navigating regulatory compliance to managing currency exchange risks, businesses must address several complexities to ensure smooth financial operations. Here’s a closer look at the opportunities and challenges of […]

Starting a business is an exhilarating journey, filled with a blend of excitement and challenges. Among these challenges, setting up a stable banking relationship might not seem immediately critical, but it’s a cornerstone of long-term success. For startup founders, navigating business banking effectively in the first year is essential for keeping financial transactions organized and […]

Securing government contracts can be a significant opportunity for small businesses, especially in Nevada, where the state government actively supports local entrepreneurs. Despite the potential benefits, many small business owners remain unaware of the processes involved in obtaining these contracts. This article provides practical tips for navigating the often-complex landscape of government contracting, giving businesses […]

In today’s unpredictable economic landscape, businesses face a myriad of financial challenges that can impact their stability and growth. With rising inflation, fluctuating consumer demand, and supply chain disruptions, maintaining financial resilience is more crucial than ever. Business owners must adapt to these changes and find effective strategies to manage their finances. Understanding Economic Uncertainty […]

As a small business owner in Southern Nevada, managing your finances efficiently can significantly impact your bottom line and tax bill. One tool that often goes underutilized is the business credit card. Not only can these cards streamline how you manage your business expenses, but they also offer opportunities for valuable tax deductions. In this […]

As the world becomes more interconnected and reliant on digital platforms, businesses—especially those in Southern Nevada—must remain vigilant against cybersecurity threats. Lexicon Bank understands the importance of safeguarding your business. In this report, we dive into the key trends from 3rd quarter of 2024 and provide actionable insights to help your business stay protected. Emerging […]

As a small business owner in Southern Nevada, you’ve likely heard about the increasing importance of cybersecurity. In today’s digital landscape, protecting your business from cyber threats isn’t optional—it’s essential. But how much should a small business spend on cybersecurity? Striking the right balance between protecting your data and staying within your budget can be […]

Every day, thousands of people fall victim to fraudulent emails, texts and calls from scammers pretending to be their bank. And in this time of expanded use of online and mobile banking, the problem is only growing worse. In fact, the Federal Trade Commission’s report on fraud estimates that American consumers lost a staggering $10 […]