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January 2011 Archive
For the past 50 years at SBA, we’ve always been proud to serve not only “Main Street” small businesses, but also the small, high-growth firms that drive the lion’s share of net new job creation each year in America. In fact, SBA played a significant role in the early years of firms like Intel, FedEx and Apple. Today, through a new initiative called Startup America, the entire Administration is joining us in supporting these firms in order to help drive innovation, competitiveness, and good jobs here at home. What is...
by Karen Mills, SBA Administrator on 05/16/2011 - 17:38
Now more than ever, the government must work to ensure that we have a regulatory environment that encourages and supports entrepreneurs and small business owners who want to grow, create jobs, and continue leading our economic recovery. That means we need to take a hard look at regulations – both new and existing – to ensure that they aren’t a burden on small businesses, and to make changes as necessary. Last week, President Obama directed federal agencies to do just that. There are a number of ways agencies can ease...
by NicoleD, Former Moderator on 05/18/2011 - 13:30
Many business owners face the frustrating reality of late or non-paying customers. This article explains the laws and regulations that you must comply with when attempting to collect on customer or vendor debt. For a primer on collecting customer debt, read Getting Your Customers to Pay Up; Parts 1 and 2 by Caron Beesley. In part two of her series, Ms. Beesley explains that common options for business owners looking to recoup late or non-payment include developing flexible payment plans, hiring debt collection agencies, or heading small...
by Caron_Beesley, Community Moderator on 06/03/2011 - 15:29
We're always hearing about the best places in the U.S. for entrepreneurial opportunity. From surveys to Census data, hubs of innovation and so-called-small business friendl- conurbations are constantly popping up somewhere on the map. But no matter which locale you set your sights on, how do you know if i's going to be the right fit? Whether you are starting-up or eyeing up a new regional opportunity, many considerations come into play. From market sizing to local unemployment rates; available financial resources to quality of life...
by sarahmillican, Community Moderator on 05/27/2011 - 13:05
Unfortunately the answer to this question is not always a simple yes or no. In most cases, the answer likely depends on several factors, most importantly, your business structure. The descriptions of the structures below will help you understand who is able to make the financial decisions within your company, including how to spend business profits. Keep in mind, the following information is provided to assist and is not intended to be legal definitions, so before catching the next flight to Tahiti with your business profits,...
by Rieva, Guest Blogger on 01/31/2011 - 17:56
These days, its all about staying in touch with the customer. And one thing you should be doing in those interactions is surveying customers to find out how they feel about your product or service, your marketing, and your business overall. Customer surveys have probably been around as long as businesses have, but the-ve never been easier to do. Today, you have a raft of options for getting the scoop on what your customers really think. Here are just some of the ways to solicit customer feedback: Social media: If you have a Facebook,...
by Karen Mills, SBA Administrator on 05/16/2011 - 17:40
Click on the video below to hear from SBA Administrator Karen Mills about how the Affordable Care Act is already helping small businesses who want to start or continue providing health insurance coverage to their employees:
by Caron_Beesley, Community Moderator on 04/20/2012 - 14:43
Tax preparation and filing isn't easy at the best of times, but with business ownership comes new responsibilities. Whatever your business type, you may decide that you can benefit from the services of a tax professional to help you get your ducks in a row or help you complete your return. Not getting the right help can expose you to potential tax return errors, which can lead to costly penalties and time lost down the line. And because each business is different i;s important to get the right help based on your needs. When selecting a tax...
by Caron_Beesley, Community Moderator on 04/20/2012 - 14:43
Tax preparation and filing isn't easy at the best of times, but with business ownership comes new responsibilities. Whatever your business type, you may decide that you can benefit from the services of a tax professional to help you get your ducks in a row or help you complete your return. Not getting the right help can expose you to potential tax return errors, which can lead to costly penalties and time lost down the line. And because each business is different i;s important to get the right help based on your needs. When selecting a tax...
by Caron_Beesley, Community Moderator on 04/20/2012 - 14:43
Tax preparation and filing isn't easy at the best of times, but with business ownership comes new responsibilities. Whatever your business type, you may decide that you can benefit from the services of a tax professional to help you get your ducks in a row or help you complete your return. Not getting the right help can expose you to potential tax return errors, which can lead to costly penalties and time lost down the line. And because each business is different i;s important to get the right help based on your needs. When selecting a tax...
by JimD, Former Moderator on 05/27/2011 - 13:22
Many small business owners will try to apply for lending at some point while operating their business. Mark French and his company Crest Capital have been in the lending business since 1989 and help small businesses with equipment leases and loans as well as software financing. Business.gov interviewed Mark, also known as CrestCapital in the Community, for some insight into lending to small businesses. What financial information do you look at when qualifying a small business? There are two main ratios that we look at when...
by Caron_Beesley, Community Moderator on 06/03/2011 - 15:31
No longer just a hub for PDFs and tax forms, the IRS.gov Web site is now a feature- and content-rich online resource for entrepreneurs, small business owners and the self-employed. So, as you start preparing for tax season and plan the tax year ahead, here are just some of tools and resources that can help you stay fiscally fit and on top of your tax obligations. The good news is that these tools not only help business owners understand their tax obligations, they also offer a foundation in good business management that can be referenced all...
by BarbaraWeltman, Guest Blogger on 01/31/2011 - 18:18
It's that time again -- the tax season -- when individual and business tax returns must be prepared. This year is particularly challenging because of new legislation and the expiration of old provisions. Here are some important changes for small business owners to note on this yea-s return. Expired provisions Certain business-related deductions, credits, and other beneficial tax rules expired at the end of 2009 and have not been extended for 2010. These include: The five-year recovery period for depreciating farming business machinery...
by JimD, Former Moderator on 05/27/2011 - 13:17
Many people have difficultly shopping for others, which make gift cards an enticing option. Consumers will spend billions on gift cards this year and as a small business, you do not want to an opportunity by not offering gift cards. You may think you are too late by missing the holiday season, but some of the major gift card holidays are Valentine's Day, Mother's Day™, Father's Day™, and graduation. Using Gift Cards Many people do not feel they have the technology to offer gift cards, but it is getting easier and easier...
by sarahmillican, Community Moderator on 02/11/2011 - 13:15
Effectively hiring and managing employees is essential for business success. Before you decide to expand your business, be sure to understand your responsibilities as an employer. The resources below will help get you started on what you need to know before you hire your first employee and how to successfully work with them once the;re on board. Hiring So yo-re ready to hire new employees? Congratulations! First, yo-ll need to be sure of the basic legal regulations and practical steps yo'll need to take to ensure effective hiring decisions...
by wreynolds, Former Guest Blogger on 03/02/2012 - 16:25
Last month I was asked to sit down with another Adviso;s client to review their holiday marketing collateral and make suggestions to improve the design. On first glance there were several key changes that could be made to improve the design as well as the probability of getting the desired result of more holiday business. But predominately the element needing change that stuck out most was the one that was missin- the customer! Like most small business owners we advise, this client was passionate about his product. So passionate that i-s all...
by Karen Mills, SBA Administrator on 05/16/2011 - 17:50
Part of the reason we rolled out the new SBA.gov and our new SBA social media tools is that we know that small business owners themselves are going online in order to grow their business. These days, a strong online presence is a “must,” even for the smallest shops on Main Street. That’s why SBA recently partnered with Google to put more online tools in the hands of small business owners. In fact, one-fifth of Google searches are related to location. That means people often go to their computer or smartphone first when...
by sarahmillican, Community Moderator on 05/18/2011 - 13:53
The holiday season is a popular time to recognize employees for a year well done. Many businesses routinely give out holiday bonuses in December as well as host holiday parties. However, with many businesses struggling to maintain a profit and trying to hold on to their current customers, it has become difficult if not impossible for companies to monetarily reward employees. Balancing recognition, employee morale, and the budget can be extremely challenging. Following are some recommendations from the community on ways to...
by sarahmillican, Community Moderator on 05/27/2011 - 13:06
Firing an employee can be an unpleasant task for any business owner, especially if that individual is ill. But keeping an employee on the payroll that is incapable of performing their job responsibilities is harmful to a business as a whole - particularly for small businesses, where one person's employment costs make up a large percentage of the companies revenue. Unlawful dismissal or disability discrimination can quickly become a costly and time consuming predicament for a small business owner. Before firing an employee, employers should...
by Marie Johns, SBA Deputy Administrator on 05/16/2011 - 17:52
Hi, I’m Marie Johns, Deputy Administrator at the SBA. Happy New Year! Since we just launched this blog, I thought it might be helpful to give a quick primer on what we do at the SBA. At the SBA, our focus is on giving small businesses the tools they need to grow and create jobs. We like to talk about our “3 C’s”—capital, contracting, and counseling. The first C is capital. If you’re looking for a way to finance your growth, an SBA loan might be what you need. The SBA doesn’t actually make the loans....
by Caron_Beesley, Community Moderator on 01/18/2012 - 13:34
Theres no doubt about it we are a nation of coupon-clipping consumers and le-s face it, who doesn't like a bargain? From print coupons to online coupon codes, and now with the staggering growth of social coupons- consumers are literally bombarded with special offers. But how do you make coupons work for your business without underselling your value and compromising your bottom line? Here are some considerations and tips for determining whether'couponin' is right for your business and how to market your discounts and special offers...
by Caron_Beesley, Community Moderator on 06/03/2011 - 15:37
In two previous posts, I addressed some key tax consolidations that small business owners and employers need to be aware of as we head into tax season, including the specific tax requirements that impact employers this time of year as well as changes to tax law that can benefit all businesses during the 2010 tax filing season. While these considerations are very important, especially if you are new to business ownership, i;s also important you establish and follow clear accounting methods and periods to ensure you are accurately reporting all...
by FranchiseKing, Guest Blogger on 02/01/2011 - 11:46
Obviously, if you're going to invest in a business of your own, you'll want to make some money, right? But, is that all you're focused on? Will only making money do it for you? Most of the prospective franchise owners that I've consulted with don't even want to make lots of money! Are you surprised? Now, I'm not saying that these folks don't tell me things like, 'Joel, of course I'd be fine making a lot of money.' or, 'I'm certainly not going to turn down $200,000 a year in profits from my franchise...
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by Karen Mills, SBA Administrator on 05/16/2011 - 17:35