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August 2011 Archive
While starting and growing a business can be challenging, one area in which the market is currently working in the business owners’ favor is in the glut of available commercial real estate. If your business is new or simply in need of more space, the abundance of choice and favorable market conditions for potential tenants can prove an enticing prospect for budding entrepreneurs and small business owners. However, even in a buyer’s market, negotiating a commercial lease is a daunting and complex process that requires research and...
by TiffaniC, Community Moderator on 08/30/2011 - 18:56
Minority Enterprise Development (MED) Week 2011 By Tiffani S. Clements Are you a minority-business owner looking to grow your business? Are you seeking to, network with other minority businesses? Do you desire to become certified as a minority-owned business and get a piece of the more than $400 billion federal contracting pie? If the answer to any of these questions is: “Yes, “the U.S. Small Business Administration (SBA) has great news for you! On September 27-30, the SBA will partner with the Department of Commerce’s...
by Karen Mills, SBA Administrator on 08/29/2011 - 17:58
Right now, many communities in New England are still feeling the aftermath of Hurricane Irene, including major floods in Vermont. I can’t emphasize enough the importance of staying safe and listening to public officials. Flooding is still widespread and dangerous power lines are still down, so be sure to steer clear. Also, right now, many business owners, homeowners, and renters along the East Coast are coming back to find physical damage to their buildings and property. In addition, thousands of businesses are dealing...
by sarahmillican, Community Moderator on 08/29/2011 - 11:39
QR-codes are multi-dimensional barcodes that can be read by barcode scanner applications available on most newer smartphones, or they can be downloaded for free online. According to Nielsen.com we are at the beginning of a new wireless era where smartphones will become the standard device consumers will use to connect to friends, the Internet and the world at large. The increase will be so rapid, that by the end of 2011, Nielsen expects more smartphones in the U.S. market than feature phones. With the rise of smart phones overtaking...
by Elizabeth Echols, SBA Official on 08/30/2011 - 13:57
Last week, I convened a White House Business Council roundtable in Fernley, Nevada. Like many other cities across the country, Fernley experienced economic and population growth in the recent past, only to see it suffer due to the recession and a flood that hit the city in 2008. White House Business Council roundtables are an opportunity for Council members to hear directly from business leaders around the country about their ideas for how we can continue to grow the economy, put Americans back to work, and win the future. Just as...
by Karen Mills, SBA Administrator on 08/26/2011 - 17:35
Today South Carolina has already seen the effects of Hurricane Irene, with heavy rains and winds soaking the coastal areas. As evacuations begin and the hurricane makes its way up the East Coast, the U.S. Small Business Administration is standing ready, prepared to respond to the long-term recovery needs of homeowners, renters and businesses across the region. The SBA has a team from our Office of Disaster Assistance in Puerto Rico, assessing the damage caused by Hurricane Irene. In addition to the 900 employees already...
by BillGormley, Former Guest Blogger on 09/11/2011 - 19:08
If you’re like me, you appreciate a friendly reminder when things are coming due. So, if you’re a small government contractor, consider this your reminder: The submission date for two different reports to the Department of Labor (DOL) is coming soon. Each year covered contractors must submit the EEO-1 and the VETS-100/VETS 100A reports. While they are generally due by the end of the government’s fiscal year (September 30), this year DOL has extended the date for submission of the VETS-100/VETS 100A report (more on that...
by FranchiseKing, Guest Blogger on 08/25/2011 - 09:45
Today’s franchise buyers are faced with thousands of choices; not only do they have to figure what type of franchise businesses to look into, they have to figure out which one is the “best in show.” Allow me to explain. If you’re looking to become a franchise business owner, you’ll find that it’s a multi-step process. Like any major decision, it’s bound to be fraught with hurdles…obstacles, and on a positive note, numerous opportunities for personal growth. As a franchise owner, you’re...
by Caron_Beesley, Community Moderator on 06/07/2012 - 16:21
How’s your business blog doing? Running out of ideas? Struggling to keep it up-to-date? You’re not alone. In the busy-ness of business, keeping your blog fresh is not always at the top of your mind and not always the easiest chore to check off your list. The problem is, if you really want to make an impact you have to keep your blog updated regularly to keep visitors interested. Here are a few other reasons to keep your blog fresh: Search engines love to provide their customers with relevant, helpful, and up-to-date content and...
by Caron_Beesley, Community Moderator on 06/07/2012 - 16:21
How’s your business blog doing? Running out of ideas? Struggling to keep it up-to-date? You’re not alone. In the busy-ness of business, keeping your blog fresh is not always at the top of your mind and not always the easiest chore to check off your list. The problem is, if you really want to make an impact you have to keep your blog updated regularly to keep visitors interested. Here are a few other reasons to keep your blog fresh: Search engines love to provide their customers with relevant, helpful, and up-to-date content and...
by Caron_Beesley, Community Moderator on 04/30/2012 - 18:59
Congress has set goals to help woman-owned small businesses (WOSBs) gain their share of the federal contracting market. However, without a specific set-aside contract program for WOSBs, such as those in place for small disadvantaged businesses (e.g., the 8(a) program), service-disabled veterans and historically underutilized business zones (HUBZone), WOSBs only received 4% of the $400+ billion contracts awarded annually well shy of the 5% statutory goal. In an effort to address this shortfall and create a more level contracting playing field...
by Sean Greene, SBA Official on 08/24/2011 - 09:41
Michael Hart founded Sierra Energy in California with the idea of producing iron more efficiently. But he soon found out that his new technology was even better at cleanly converting waste into energy. Today, he’s leveraging this new discovery, along with a new mentoring relationship through Startup America, to do what our nation’s startups do best: create jobs. “We started with something small and narrow but realized that the impact is global,” he said. With the help of efforts like the Entrepreneurial Mentor...
by Karen Mills, SBA Administrator on 04/30/2012 - 18:59
Sometimes disasters strike without warning, such as earthquakes, including the one millions of Americans felt today on the East Coast. Other times, we have a few days to prepare, like we have right now with Hurricane Irene approaching the Carolinas. In the case of any natural or man-made disaster, small business owners should have a disaster preparedness plan in place and ready to go. It’s often difficult for small business owners – some of the busiest people in America – to look beyond the most pressing,...
by Karen Mills, SBA Administrator on 08/22/2011 - 09:46
Working with federal agencies to empower America’s leading entrepreneurs is a key part of what we do at SBA. It’s great to see agencies like the Food and Drug Administration coming up with innovative ideas that help startups and small businesses create jobs at this crucial time. FDA Commissioner Margaret Hamburg recently announced two new efforts to strengthen entrepreneurship in the medical technology industry. The first is a new “entrepreneur-in-residence” program at FDA. FDA plans to recruit seasoned...
by Caron_Beesley, Community Moderator on 08/22/2011 - 09:46
Are you considering outsourcing your payroll function? If you find you don’t have enough hours in the day to take care of your business operations, your clients and your employees, outsourcing key business functions such as payroll can be a cost-effective business strategy. In fact, payroll is the first function many small business owners look to outsourcing. Why Outsource Payroll? Managing payroll is an especially time consuming and detail-oriented task that can quickly consume even the savviest business owner. Some of the...
by Solovic, Former Guest Blogger on 08/19/2011 - 12:14
Those who are fired with an enthusiastic idea and who allow it to take hold and dominate their thoughts find that new worlds open for them. As long as enthusiasm holds out, so will new opportunities. -- Norman Vincent Peale. Why do you want to go into business for yourself? Are you running away from a bad situation with your current employer? Have you been unemployed for a while and you hope by starting a business you can create an income stream? Are you burned out in your current career and...
by Caron_Beesley, Community Moderator on 09/07/2011 - 10:25
If you are running an online business and visitors are flocking to your site – congratulations, you’ve passed a significant hurdle. But who are your customers and most importantly, what do they think of your business? Getting feedback from your customers is an essential part of running a business. It will also give you insights on where you should be focusing your energies – whether it’s introducing a new product line such or making improvements to your payment or delivery options. Most importantly, getting feedback...
by NOsburn, Former Moderator on 08/17/2011 - 13:37
When a friend or family member asks what you do to help small businesses, what do you say? I’m a General Equipment operator – a driver. I transport various SBA officials to and from the Senate and House office Buildings and other places around the Washington DC area. This is my small contribution to SBA. What is your favorite thing about what the SBA does for small businesses? My favorite thing about what SBA does for small businesses is seeing people getting an opportunity to live their dreams – investing...
by Caron_Beesley, Community Moderator on 08/17/2011 - 10:02
As a small business it’s critical that you protect your assets and your interests with a wide array of business insurance options, but what about your business liability? Liability insurance protects you against injuries and damages suffered by a third party. It essentially pays for the obligations that you may incur should someone get hurt while on your property or when there are property damages or injuries caused by you or your employees. Liability insurance will cover the cost of your defense and any settlement or award. ...
by Karen Mills, SBA Administrator on 04/30/2012 - 18:59
Today, the President announced several important new initiatives to continue strengthening the rural economy and to create jobs in rural areas. As part of the White House Rural Council’s efforts to improve federal government coordination on rural economic development, the U. S. Department of Agriculture (USDA) and the Small Business Administration (SBA) have been focused on rural small business growth. And for good reason: Half the people who work in America either own or work for a small business, and two out of three new...
by Caron_Beesley, Community Moderator on 08/16/2011 - 14:28
If you sell anything online or regularly ship goods and services to customers – how can you be sure you are getting the best shipping deal for you and your customers? Unless you’ve explored the full range of options, the shipping can become an operational nightmare and have a direct impact on your bottom line. Costly errors include not checking shipments before they leave, or even knowing which shipping method to use. On the regulatory side, international shipping and custom laws can also present challenges to the uninformed...
by nicoj, Community Moderator on 08/16/2011 - 12:57
We’re getting the word out on how the federal government can help start-ups. This blog article is the fourth in our series cataloguing programs for high-technology entrepreneurs (sometimes referred to as “high-growth, high-impact firms” or high-tech start-ups). So far, we’ve written about grant programs, loan programs, and technical assistance. This week, we’re featuring programs and organizations that provide education, counseling and other similar services to high-tech entrepreneurs. Starting a business...
by Tim Berry, Guest Blogger on 04/30/2012 - 18:59
Don’t get trapped in the myth of the big difficult business plan document, but do help yourself to business planning as a way to manage your business better and deal with change, keeping your eyes on long term and short term at the same time – whether you need to create a document for others to read, or not. First, settle on strategy. Tailor your product offering to match your strengths and weaknesses, opportunities and threats, what you do best, and what your target market wants most. You don’t have to write it...
by NOsburn, Former Moderator on 08/17/2011 - 13:23
When a friend or family member asks what you do to help small businesses, what do you say? When asked what I do to help small business, I tell people that I assist small businesses in making informed decisions whether they are a startup or an existing business. When it comes to accessing capital, I get small businesses to look at how important it is to know your business plan and to keep updating it – not put it in a file cabinet or drawer somewhere. What’s your favorite thing about what the SBA does for small...
by Marie Johns, SBA Deputy Administrator on 08/11/2011 - 09:59
Earlier this year, we established the Council on Underserved Communities to advise the SBA on ways we can expand our reach into the communities that need our help the most. This includes minorities, women, veterans and young people, as well as rural parts of the country and urban areas. Small businesses in underserved communities are some of the fastest growing businesses in America, but they are also the businesses that need our support the most. For example, from 2002 to 2007, the number of small businesses owned by African...
by nicoj, Community Moderator on 08/11/2011 - 10:47
We’re getting the word out on how the federal government can help start-ups. This blog article is the third in our series cataloguing programs for high-technology entrepreneurs (sometimes referred to as “high-growth, high-impact firms” or high-tech start-ups). In the first part of the series, we looked at grant programs. Last week, we outlined loan programs. This week, we’re highlighting five technical assistance resources for high-tech start-ups. What is Technical Assistance? For start-ups, technical assistance...
by TJ McCue, Former Guest Blogger on 08/11/2011 - 03:29
Over the last year, I have watched various funding tools grow in usefulness and popularity. One in particular, Kickstarter, has caught the attention of many companies, new and old. It is an alternative way to get a project or product funded, by way of a hot new trend called crowdfunding. In my mind, this is a creative way to sell -- for the right products or services. Like crowdsourcing -- turning your idea over to a group of people to make minor and major improvements to it -- crowdfunding is about getting individuals to make small and large...
by wreynolds, Guest Blogger on 03/02/2012 - 16:44
A business bank account is one of the most important financial tools you will use to manage your company’s finances. It helps you keep accurate records, prepare reports, make deposits, and separate your business banking from your personal banking. Once you decide which type of bank will best serve the needs of your business whether it is a major commercial bank, credit union, or community bank, you should then focus on establishing a favorable bank rating. Your company’s bank rating is different from a business credit rating...
by Marie Johns, SBA Deputy Administrator on 08/09/2011 - 13:41
Each Friday this summer, leaders from the White House and key agencies like the U.S. Small Business Administration have met with community leaders from across the country. This past Friday, I had the opportunity to speak with about 25 community leaders from a number of different states who are small business owners, as well as people who work closely with local small businesses on a daily basis. It was a great discussion. We talked about how SBA loans have played a key role in getting credit in the hands of small business...
by Caron_Beesley, Community Moderator on 08/09/2011 - 12:48
Do you offer an employer-sponsored 401(k) plan? Do your employees think the plan is free? Are you aware of your obligation for assessing and communicating information about fees to your employees? It’s a valid question given that more than 75 percent of employees who sign up for 401(k) plans are unaware of the administration, investment and service fees associated with their plan. The problem for you, as an employer, is that the law makes you responsible for acting on behalf of your employees when it comes to administering the 401(k)...
by James Rivera, SBA Official on 08/08/2011 - 12:57
The SBA helps businesses, homeowners and renters with loans after disasters such as floods, tornadoes and hurricanes. To help answer the many questions that these folks have about federal assistance, we have a toll-free call center based in Buffalo with about 80 staff who stand ready to help. They’re trained to answer questions about things like SBA disaster loans, payment options, and other federal assistance options. This month, I’m proud to say that this Disaster Assistance Customer Service Center is featured in...
by Rieva, Guest Blogger on 08/04/2011 - 14:51
It’s August and soon enough, school will be in session for millions of children across the nation. If you don’t have children, you may think this doesn’t mean anything to you. Well, think again. The nation’s schools are rapidly becoming a marketing venue for businesses large and small. And if your small business targets local customers, there could be a way for you to take advantage of this trend. Why are schools such a great place to market your business? Well, although the recession has officially been “over...
by CeceliaT, Community Moderator on 08/02/2011 - 17:50
Today's Business Law Advisor is a guest post by Diana Zeitzer, Communications Director, Disability.gov Twenty-one years ago, the Americans with Disabilities Act (ADA) was signed into law. Yet, many small business owners still have questions about what the ADA is and the protections it offers individuals with disabilities. The ADA is a federal civil rights law that prohibits the exclusion of people with disabilities from everyday activities such as buying groceries from a store, seeing a movie in a theater or dining at a restaurant...
by Karen Mills, SBA Administrator on 08/02/2011 - 12:13
I’m pleased to announce the SBA 100, a showcase of 100 small businesses that got SBA help to create at least 100 jobs. These include Main Street businesses ranging from small brewery in Delaware to a Dairy Queen owner in Alaska. They also include high-growth, high-impact firms that have made a major impact on our economy, like Oregon-based Columbia Sportswear, which now generates over $1 billion in annual revenue. Enter the SBA 100 Gallery What they all share in common is that they directly benefited from...
by BarbaraWeltman, Guest Blogger on 08/02/2011 - 08:26
Last year, more than *565,000 businesses were started in the U.S. The majority will make it – at least for a number of years – some will not. Unfortunately, many owners believe certain myths about starting and running a business and these beliefs can be their undoing. If you’re thinking of starting a business or have recently begun one, make sure you know fact from fiction so you can be a good statistic! Myth 1: You can do it yourself. When getting started, many owners try to save money by doing everything they can by...
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by Caron_Beesley, Community Moderator on 10/12/2011 - 13:00