Category Archives: Business Advice

How to Support Small Business This Holiday Season

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The holiday season is now in full swing and while the rush to find gifts, plan meals, and celebrate can be overwhelming – it’s also the perfect time to make your spending count locally. Supporting small, independent businesses helps strengthen our communities, boosts local economies, and ensures your dollars go further – often staying in the neighborhood instead of to distant corporations.

Here are some meaningful, practical ways to show support for small businesses this holiday season.

1. Buy Gift Cards from Local Shops, Restaurants, or Service Based Businesses

Gift cards are a win-win during the holidays. When you buy a gift card from a small retailer or local restaurant:

  • You give someone a flexible gift that’s close to home.
  • You help that business with immediate cash flow, which matters during the busy holiday season.
  • You may even encourage repeat business – the recipient may return later and discover more products or services they love.

Whether it’s for a cozy café, boutique clothing, a neighborhood bookstore, or the local spa – gift cards help our small businesses stay afloat and grow.

2. Do Your Holiday Shopping Locally, in Person or Online

Skip the big box store crowd or massive online retailers for at least part of your holiday shopping. Instead, visit neighborhood shops, boutiques, and artisans — or check out their small-business e-commerce websites.

Many small businesses offer online ordering, local delivery, or curb-side pickup – making holiday shopping from home or on a schedule much easier. Buying from them helps keep money circulating locally – sustaining jobs, community services, and the unique character of your hometown.

3. When Ordering Holiday Meals or Treats, Opt for Local Eateries

The holidays often mean busy schedules, long workdays, or late-night prep – which can make fast food or big-chain takeout tempting. This year, consider ordering from a local restaurant or bakery instead. By doing so, you:

  • Support local workers and business owners when many smaller eateries depend heavily on holiday revenue.
  • Help maintain the local food culture, keeping unique tastes and homegrown menus alive in your neighborhood.
  • Often get fresh, more personalized meals – and maybe even help someone feel appreciated by ordering from a small, caring team.

4. Write Positive Reviews for the Local Businesses You Use

If you’ve had a good experience, whether it’s a great gift shop find, friendly service at a café, or delicious carry-out – take a minute to leave a public review.

Positive reviews help small businesses build visibility, trust, and a broader customer base, especially during the holidays when many people search online for gifts, food, or services. A kind review is a low effort but high-impact way to support your community’s businesses.

5. Spread the Word

Word-of-mouth and social sharing remain among the most powerful ways to support small businesses.

  • Share your favorite shops or restaurants with friends and family.
  • Recommend local businesses when someone asks for gift ideas.
  • On social media or within community groups, highlight small businesses you love.

Each share raises awareness and may bring new customers to those businesses.

6. Plan Ahead and Shop Early

Small businesses can get overwhelmed during peak holiday demand. By shopping early, you:

  • Help avoid stock shortages or long lead times.
  • Ease stress for small shop owners so they can better manage orders, staffing, and customer service.
  • Give yourself more gift giving flexibility, and allow local businesses to deliver better service.

 The Impact of Shopping Small

  • Local businesses are more likely to keep profits in the community, supporting neighborhood jobs, schools, and services.
  • Each holiday purchase at a small shop helps independent businesses compete during a season often dominated by big box retailers.
  • Shopping small helps preserve the unique character and culture of neighborhoods, making towns more vibrant, personal, and community-oriented.

As we head into Small Business Saturday (November 29, 2025), choosing to shop local is a small decision that can make a big difference.

Make This Season a Community Win

 Whether you’re buying gifts, ordering takeout, or doing your regular errands – consider making local businesses part of your plan this holiday season. A small shift in where you spend can help keep jobs, culture, and community thriving.

At First Financial, we believe supporting small businesses is one of the best ways to fuel shared prosperity. Check out some of our local business members this Small Business Saturday and throughout the season. Happy Holidays and don’t forget to shop local!

How to Know If You’re Ready to Start Your Own Business

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Embarking on the journey of entrepreneurship is exciting, but also full of responsibility. Before you open your doors (virtual or physical), it’s important to assess not just the business idea itself – but your readiness, your finances, and the structures you’ll need. At First Financial, we’re committed to helping you succeed – not just by offering business banking solutions, but also by helping you ask the right questions.

Here’s how to tell if you’re ready to start your own business.

Personal Readiness: Do You Have the Entrepreneur Mindset?

Starting a business demands more than a great idea. It demands you. Real entrepreneurial success often correlates with certain personal characteristics. We took some insight from Forbes to help us put together the list below.

Drive to succeed and willingness to work hard

If you find yourself naturally motivated to put in the long hours, willing to push past comfort zones, and excited rather than intimidated by big goals – these are strong signs you have the drive. One of the Forbes-Council recommendations: “You’re willing to work hard.”

Resilience and perseverance in the face of obstacles

Business won’t always go smoothly. When things get bumpy, are you someone who pushes on instead of giving up? Do you view failures or setbacks as lessons, rather than dead ends? That resilience is crucial.

Clear sense of ownership and decision-making

Are you comfortable being the one who makes the calls? As an entrepreneur, you’ll be responsible for many decisions – from strategy to finances to operations. Forbes also mentions the ability to “command respect” and lead people, as a sign you’re preparing to lead your own venture.

Passion for your idea (and beyond)

It’s great to love your business idea, but you’ll need to love the work of building it too. From late nights to marketing headaches, you’ll experience it all. If you’re genuinely excited about the whole journey, it’s easier to maintain momentum.

Willingness to learn and adapt

Markets evolve, technologies shift, and customer expectations change. If you’re open to learning, bending and pivoting your approach as needed – you’re in a much stronger position.

If you check off several of these personal traits, you’re likely on firm footing to move forward. If you find some gaps, no worries! Recognizing them now means you can build them intentionally before launch.

Financial Readiness: Are Your Finances & Plans in Order?

Having the mindset is important, but you also need numbers and structures in place. Launching a business without a financial foundation is risky. The Small Business Administration (SBA) outlines the core steps to get started, here.

Step 1: Conduct market research

Before spending money, you’ll want to know if your idea has real potential. The SBA recommends market research to understand your potential customers and competitors.

Step 2: Write your business plan

Your business plan is your roadmap. It forces you to map out your business structure, financials, and marketing approach and provides a tool to show others (partners, lenders) that your idea is serious.

Step 3: Calculate startup costs

You’ll need to estimate how much it will cost to get going and how you’ll finance it. Whether you’re using savings, borrowing, or attracting investors – make sure you fully understand your capital needs. The SBA notes, “Your business plan will help you figure out how much money you’ll need to start your business.”

Step 4: Structure, name, and register

Choosing your business structure (LLC, corporation, sole proprietor, etc.) affects taxes, liability and registration requirements. The SBA calls this step critical: “The legal structure you choose will impact your business registration requirements, how much you pay in taxes, and your personal liability.” You’ll also need to come up with a name for your business and register it with your state, as well as apply for a federal tax ID number (TIN).

Step 5: Open a business bank account

A dedicated business bank account separates your personal and business finances — which is important for bookkeeping, taxes, legal protection, and clarity. The SBA says: “A small business checking account can help you handle legal, tax, and day-to-day issues.”

Step 6: Ensure you have access to business financial services

Beyond just a bank account, you’ll need other tools like merchant services, payment processing, payroll (if you hire), and possibly lines of credit or business loans. Having a trusted banking partner makes a big difference.

Step 7: Risk assessment and insurance

Make sure you’ve thought through what could go wrong — legal and product liability, property damage, cyber risk, etc. Although not explicitly numbered in the SBA’s 10 steps list, risk management is an implied element of “get business insurance.”

How First Financial Can Help

We believe in the power of small business because when businesses succeed, communities thrive. Here are just a few ways we can support Monmouth and Ocean County entrepreneurs like you:

  • Business checking and savings accounts: Simple, affordable, and scalable as you grow.
  • Merchant services & payment processing: So you can accept payments online or in person with ease.
  • Business credit and lending solutions: To help you fund your startup costs or scale operations.
  • Business advisory support: We’ll connect you with resources to build your business plan, understand structure, and set your finances up effectively.
  • Dedicated business banking team: We aim to serve as partners in your success.

Visit our website to learn more about our business offerings.

Starting a business isn’t simply a leap of faith, it’s a calculated risk backed by personal readiness and financial preparation. If you’ve got the mindset, you’ve validated your idea, charted out your business plan, and arranged your finances appropriately – you’re far more likely to launch with confidence and resilience.

And when you’re ready, we’re ready too – to help you open that business account and support your journey. Because when you succeed, we all succeed. Contact us to learn more by calling us at 732-312-1500, emailing business@firstffcu.com, or stop by any branch.

Get Your Business Disaster Ready

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It is often said that the one predictable thing about life is that it’s unpredictable, and emergencies and natural disasters are no exception. Disasters can take many different forms but can all potentially have the same impact – unexpected, costly damage to your business and disruptions to your day-to-day operations. Despite the unpredictable nature of emergencies, you can put yourself and your business in a better position to recover if you are prepared. Here are some ways you can be ready if disaster were to strike.

Consider the Risks to Your Business

Approximately 25% of businesses do not reopen after disasters – but the ones that consider the risks to their business ahead of time are often better prepared to face and overcome them.

Businesses aren’t all affected by disasters in the same way. Each business has unique circumstances that can have an impact on how a disaster will affect their operations and financial position, and what their road to recovery will look like.

Additionally, businesses aren’t all affected by the same disasters. For example, a business in California might want to dedicate more resources toward earthquake preparedness than a business in New Jersey. Although earthquakes can happen anywhere without warning, devastating earthquakes are infrequent in New Jersey – making it less likely that one would cause a business there to sustain major damage. On the same note, emergencies don’t always have to occur from the environment specific to your area. Your business should also prepare for emergencies like cyberattacks or supply chain disruptions, where may not be able to access the resources needed to meet your customers’ needs.

It is important to consider the disasters that are more common in your area and industry so you can target your preparation and resources.

Make a Plan

Once you have considered the specific risks to your business, it’s time to formulate a response plan – or how you will effectively manage those risks.

Emergency plans are not one-size-fits-all; they should be tailored to your business and its specific strengths, weaknesses, and operations. An emergency plan, sometimes referred to as a business continuity plan, will help you prepare an effective response to recovering from a disaster before it happens. A few areas that should be addressed are critical functions, the potential disasters your business could face, immediate priorities, responsibilities of key employees, and strategies and timelines for recovery.

It is important to consider the key staff your plan includes. In small businesses, it is common for team members to wear many hats and have several responsibilities. In the face of an emergency, this could make it difficult for your staff to know which area to immediately prioritize. It could also make it difficult for them to be trained in the most important recovery areas, as they might have conflicting responsibilities. It is commonly said that a fence is only as strong as its weakest link – therefore, every team member should have clearly defined responsibilities and be effectively trained on how to prioritize them.

This plan should be stored in a place that is easy to access – and not where it can be destroyed in a disaster. The SBA Business Resilience Guide is a resource that can help you identify how to prepare for and recover from disasters, which can be included in your plans.

A business continuity plan will look different depending on the emergencies that are addressed. Consult the following resources from Ready.gov to better understand the different risks various disasters pose to your business’ finances and operations.

Practice the Plan

You don’t necessarily have to wait for disaster to strike to execute the plan. It’s a good idea to set aside time to run through the plan with your staff on an annual basis so that they are ready should a disaster occur.

Having an emergency plan in place can make a big difference in the outcome of your small business following a disaster. For more small business tips and resources, subscribe to our First Scoop Blog.

When to Take on Business Debt

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Running a small business means balancing growth goals with financial responsibility. When borrowing is used smartly – it can help you scale, stay agile, and keep full control of your business. Here’s when it makes sense to take on business debt, the risks to watch out for, and how First Financial may be able to help your Monmouth or Ocean County small business.

When to Consider Business Debt

  • For Growth & Expansion – Moving into a bigger space, buying more equipment, or hiring staff often requires upfront capital.
  • To Seize a Timely Opportunity – Sometimes favorable deals (bulk inventory, discounted real estate, or contracts) pop up, and having access to borrowed funds lets you act quickly.
  • To Build Business Credit – Paying off smaller loans or lines of credit on time helps improve your credit profile, setting you up for better terms in the future.
  • For Smoothing Cash Flow – For seasonal businesses or those with irregular income, a line of credit or short-term business loan may help bridge gaps for payroll or supplier payments.
  • When Rates are Low – When interest rates are favorable, debt can be a cost-efficient way to access capital. Interest is also often tax‐deductible.

Why Debt Might Be Better Than Equity

  • You Retain Ownership & Control – You won’t need to give up business shares or decision-making power.
  • Predictability of Cost – Loan payments will be fixed; equity comes with sharing profits (possibly indefinitely).
  • Tax Benefits – Interest payments are usually deductible, lowering your taxable income.
  • Strengthened Credit Profile – Successful borrowing builds business credit, making future financing easier.

Risks to Watch Out For

Borrowing also comes with responsibilities that should not be overlooked. Loan payments are fixed obligations, which can put pressure on your business if revenue dips. Taking on too much debt increases financial vulnerability, particularly during economic downturns. The terms of the loan also matter, such as interest rate, collateral requirements, and fees – which can all add costs or limit flexibility. If not managed carefully, debt can restrict strategic business choices and impact long-term stability, making it crucial to borrow with a clear purpose and repayment plan.

How First Financial Can Support Your Small Business

At First Financial, we’re here to make the borrowing process easier with flexible lending solutions. Some of our offerings include:

  • Commercial Real Estate Loans to help you expand or invest in property.
  • Commercial Vehicle and Equipment Loans to keep your operations moving.
  • Business Lines of Credit for on-demand access to working capital.
  • We also offer a VISA Business Cash Plus Credit Card for everyday spending needs, and 1% cash back on unlimited purchases.*

​​You can learn more about our business loan offerings on our website. With personalized service and competitive rates, First Financial is committed to helping your small Monmouth or Ocean County business grow smartly and sustainably.

*This APR of 18% is for purchases, balance transfers, and cash advances and will vary with the market based on the Prime Rate. Subject to credit approval. Rates quoted assume excellent borrower credit history. Your actual APR may vary based on your state of residence, approved loan amount, applicable discounts and your credit history. No Annual Fees. Other fees that apply: Balance Transfer and Cash Advance Fees of 3% or $10, whichever is greater; Late Payment Fee of $35, $10 Card Replacement Fee, and Returned Payment Fee of $35. A First Financial membership is required to obtain a Visa® Business Cash Plus Credit Card and is available to anyone who lives, works, worships, volunteers, or attends school in Monmouth or Ocean Counties. A $5 deposit in a base savings account is required for credit union membership prior to opening any other account/loan. Your First Financial Visa® Business Cash Plus Card will earn cash back based on your eligible purchase transactions. The cash back will be applied to your current credit card balance on a quarterly basis and be shown cumulatively on your billing statement. Unless you are participating in a limited time promotional offer, you will earn 1% cash back based on eligible purchases each quarter.

How Small Businesses Can Stand Out This Back-to-School Season

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Businesses that take advantage of holidays and key seasons where shopper demand tends to increase, typically see more shoppers and in turn – more sales. Customers are already shopping for back-to-school, so using strategies that will propel your business into the spotlight can help you earn a slice of that spending pie – which is estimated to reach $39 billion this year. And the best part is, your business doesn’t have to sell school supplies or first day of school outfits to join in. Here are five strategies your small business can use this back-to-school season.

1. Contests and Giveaways

Contests and giveaways are typically a win-win for both you and your customers. Your customers will have the chance to engage with your business and potentially receive a prize in return, which will help get the word out about your business and hopefully attract new patrons. One contest idea for this time of year, might be entering all who make a purchase and post a photo using a specific hashtag – into a drawing for a free backpack filled with school supplies. If you’re looking to connect with a specific type of customer, such as a teacher – think about offering a gift card for classroom supplies to an educator who posts their classroom, again using a specific hashtag. #PeopleLoveFreeStuff.

2. Create In-Store Experiences

If you have a storefront, you have a unique opportunity to create in-store back-to-school themed experiences for your customers. For example, you could invite a local teacher or school administrator to host a session for parents and students. Or, you could set up a back-to-school themed photo op within your store for customers to take pictures. Bonus points if they post the pictures and tag your business! Whether your customers didn’t know you had these experiences until they were already in the door, or they came to your business knowing you did – this shows your clientele that you care and are community focused too.

3. Offer Discounts

Back-to-school shopping is typically a family’s second-largest annual spending event and parents are understandably looking to save where they can. That’s where your business comes in – even if you don’t directly offer school essentials. You can encourage first-time shoppers to return to your store a second time, by offering them a back-to-school seasonal discount. For example – try using email or social media to offer a percentage or dollar amount off the next purchase, or a free product or service if they bring in their receipt from the last purchase. If you are targeting parents, show them how the savings they may get by shopping with you – can be put back into their budget elsewhere.

4. Special Bundles

Messaging is key. You might be thinking, “What does my pool cleaning company have to do with back-to-school?” The answer is everything – kind of.

If your business offers a product that is needed by parents, children, or educators during back-to-school season – offer them a bundle on your services. This can add value when you show your potential customers that you can save them money or trips to the store, just by choosing your business. Going back to our original example, if you own a pool cleaning company – offer a discounted bundle on early September pool skimming and equipment maintenance to save busy working parents from having to do it themselves. It’s all about how you market your business, and show how it’s relevant – in any season.

5. Don’t Forget Your Existing Customers

As a small business, your repeat customers are some of your best advocates. You have already earned their trust, they spend money at your business, and they promote your brand to others free-of-charge – so be sure to thank them for it! Offer special discounts or deals for returning customers as a way to say thank you for supporting your business, and showing them that you want to make back-to-school season a little easier on their wallets.

The excitement and nerves of back-to-school season are feelings that many people resonate with all-too-well. If your business can lean into the excitement and ease some of those nerves by offering shoppers what they need when they need it, you may be able to capitalize on back-to-school season and continue building a loyal customer base well into the future.

Learn more about how First Financial can help support your small business by emailing us at business@firstffcu.com. Be sure to check out all of our small business services on our website. For better business banking, Think First!

Mid‑year Check-in: Keeping Your Small Business on Track

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As the year reaches its halfway point, it’s the perfect time for small business owners to take a step back and assess where things stand so far. A mid-year check-in is a powerful strategy to realign your goals, improve operations, and finish the year strong.

Here are five essential tips to help guide your mid-year business review:

1. Reevaluate Your Goals and Key Performance Indicators (KPIs)

Remember those big goals for your business you set at the start of the year? Now’s the time to ask:

  • What progress have you made so far?
  • Are your current targets still relevant?
  • What adjustments are needed to hit your year-end objectives?

Whether you’re ahead of schedule or need to pivot, revisiting your KPIs ensures that you stay focused and aligned with your vision.

2. Assess Your Financial Health

Strong financials are the backbone of any successful business. Now is a good time to take a deep dive into:

  • Cash flow: Are you consistently in the black?
  • Expenses: What recurring costs can you reduce or eliminate?
  • Profitability: Are your margins improving, and what can you optimize?

Analyze the numbers – identifying small adjustments now, can lead to major improvements by year-end.

3. Check-in with Your Team

Your team plays a crucial role in executing the vision. Use mid-year as an opportunity to:

  • Have one-on-one conversations to understand team needs and goals.
  • Gather feedback on processes, tools, and workload.
  • Recognize accomplishments and plan for professional development.

A motivated, aligned team will always outperform a disengaged one.

4. Review Your Tools and Systems

Technology should be working for you, not against you. Ask yourself:

  • Are there any tools slowing your team down?
  • Could automation or new systems increase productivity?
  • Are your invoicing, payroll, or inventory processes efficient?

Even minor tech upgrades can save time, cut costs, and improve the customer experience.

5. Measure Customer Satisfaction and Retention

Happy customers are the key to long-term success, and mid-year is a great time to find out how well you’re meeting their expectations.

  • Look at customer retention, repeat purchases, and feedback.
  • Analyze survey responses, support tickets, and online reviews.
  • Use this information to improve your service and offerings.

Use these insights to fine-tune your approach and ensure your customers stick with you through the rest of the year and beyond.

A mid-year check-in is more than a to-do item on a checklist. It’s your chance to reset, refocus, and finish the year with purpose. Learn more about how First Financial can help support your small business by emailing us at business@firstffcu.com and checking out our small business services.