Search
November 2011 Archive
Last night in Talequah, Oklahoma, SBA’s Deputy Administrator Marie Johns and I had the chance to talk with nearly 20 young Native American entrepreneurs. They had great ideas for building businesses, ranging from construction to IT, to defense contracting. As someone who grew up in a small-business family on a reservation in Cherokee, North Carolina, I could relate to their needs, concerns, and questions. Today, I work with Native entrepreneurs and small business owners throughout the U.S., helping them find the tools they...
by sdoodala, Community Moderator on 04/30/2012 - 18:59
Navigating business law and regulations can be a minefield for small business owners, soaking up their time, money and valuable resources. In fact, according to the SBA Office of Advocacy, small firms (fewer than 20 employees) spend substantially more per employee to comply with federal regulations than larger firms do. Many of these costs are tied to tax compliance, environmental regulations, and occupational safety laws. But rarely a day goes by when a small business owner doesn’t need to think about the legal aspects of running a...
by Marie Johns, SBA Deputy Administrator on 12/01/2011 - 16:22
This Saturday, President Obama took his daughters to a local bookstore to participate in Small Business Saturday. SBA Administrator Karen Mills went to Boston for the grand opening of a small business called Minerva’s Owl, and many others in the Cabinet went to small businesses in their home cities and towns. I had the pleasure of visiting a number of small businesses in the Adams Morgan neighborhood here in Washington, DC, where I live. Adams Morgan is a vibrant neighborhood with over 250 small...
by janied, Community Moderator on 11/29/2011 - 13:01
When a friend or family member asks what you do to help small businesses, what do you say? I have worked with the SBA for thirty-two years and am very proud of my commitment. As a Program Assistant, I provide administrative support to the program offices within the Office of Performance Management and Chief Financial Officer to ensure efficient and effective management of Agency financial resources. Small businesses are the backbone of the world’s economy, accounting for more than 99% of the businesses in the United States....
by Tim Berry, Guest Blogger on 04/30/2012 - 18:59
I know it’s tough to build a business and keep it growing through the years, because I’ve done it. Don’t forget that good business planning can help a growing business stay focused and efficient, even as you manage the daily routine and changing markets. Here are my three favorite easy ways to get back on track with business planning. These are all things I’ve done myself. 1. Listen actively to a few of your customers I mean this as exactly what it says. I’m not saying you do a market survey or a...
by sdoodala, Community Moderator on 03/02/2012 - 16:29
If you operate a Facebook fan page, then you’ll have noticed a plethora of changes in recent months. While many of these changes are cosmetic, some are not, and they could have a big impact on your social media success. One of the most notable changes you may have noticed is to the dynamics of your “newsfeed.” I say significant, because these changes don’t just affect how users consume updates; they ultimately reward and promote business brands that are more engaged with their fans. Why Engagement is More Important...
by sdoodala, Community Moderator on 04/30/2012 - 18:59
According to The Senior Source, in 2005, 15 percent of working people expect to start their own businesses when they retire. However, given the continued impact of the economic crisis on 401(k) plans and a growing desire to stay career-active into retirement, this statistic seems very likely to grow. In an earlier blog I listed five things senior entrepreneurs need to consider before they tap a lifetime of experience and put a business idea into action. But how do retired and senior entrepreneurs access the capital they need? How...
by BusinessCredit, Guest Blogger on 11/25/2011 - 23:22
Selecting which type of financial institution to handle your personal or business banking account largely depends on your financial needs and personal interests. Banks offer a wide range of services and are more accessible to customers on a larger scale. For example, if you have an account with a branch of Chase in Michigan, you can access that same account at any Chase branch and ATMs in Texas. This makes it easy if you are a frequent traveler. With a credit union, you have limited ATM access all across the country. Credit unions typically...
by Karen Mills, SBA Administrator on 11/23/2011 - 14:02
You’ve heard of Black Friday. And Cyber Monday. But did you know that this Saturday is Small Business Saturday? We’re encouraging everyone to visit a small business to do some holiday shopping this Saturday. As President Obama said in a message out to all Small Business Saturday supporters: From the mom-and-pop storefront shops that anchor Main Street to the high-tech startups that keep America on the cutting edge, small businesses are the backbone of our economy and the cornerstones of our Nation’s promise...
by sdoodala, Community Moderator on 03/02/2012 - 16:32
Businesses lose employees all the time, but if another firm has ever targeted or hired your employees then you have suffered from employee poaching or “employee raiding.” Employee poaching is a fact of life for small business owners, particularly in high growth, specialized, and technology industries. In fact you can even do a quick search online and find blogs that will even coach businesses on how to poach employees! And it’s about to get worse, according to Alison Doyle, writing for About.com: “More than half (54%)...
by Marie Johns, SBA Deputy Administrator on 11/22/2011 - 12:13
Last Thursday I was in Charlotte, North Carolina for the third forum in SBA’s Young Entrepreneurs Series. We started the day at Johnson C. Smith University, where SBA and the Department of Education hosted a packed house of young entrepreneurs, students, and local politicians to talk about how the Obama administration can support young minority entrepreneurs. The five young people on our panel owned very different businesses, from a chain of barbershops to a marketing and communications firm. One panelist was even working...
by TJ McCue, Former Guest Blogger on 11/22/2011 - 11:24
Let’s cut to the chase: Cold calling as it has been done over the last 20+ years is dead. But calling prospects and customers is still a valid way to move a sale forward. Experts can argue all they want over the semantics, but the phone and in-person conversations are what bring in revenue. Social media helps move a call from cold to warm. It warms up a relationship or a gets a conversation started, but I have yet to have a business to business (B2B) sale happen solely via email or Twitter or Facebook or my website. People like to talk...
by Luz Hopewell, SBA Official on 11/21/2011 - 16:38
Working with other countries to increase international trade is an important part of what we do at the U.S. Small Business Administration, and at our Office of International Trade. Economic development teams from around the world come to SBA to try and find ways to duplicate in their own countries at least some of what we do for small businesses. A recent example of how we build relationships in that regard is Oman. Since 2008, Tanya Smith of the OIT staff and I have been working with the government of Oman – and other countries...
by Karen Mills, SBA Administrator on 11/22/2011 - 11:50
The Best Places to Work in the federal government rankings are out, showing overall employee satisfaction and commitment throughout the federal workforce. I’m pleased to say that SBA’s overall score rose for the second consecutive year. I know that it happened because so many of our employees have been working – in both big and small ways – to make SBA a great place to work. Our biggest jumps from 2010 to 2011 came in training and development, strategic management, and agency leadership. As I told SBA...
by sdoodala, Community Moderator on 04/30/2012 - 18:59
How much does it cost to start your own business? Of course, the answer depends on your business model and your chosen industry. However, a useful estimate based on a 2009 study conducted by the Ewing Marion Kauffman Foundation puts the average cost of starting a new business from scratch at just over $30,000. Many small businesses, particularly freelance, online and home-based businesses come in a lot lower than this, often needing only a few thousand to get started. But averages aside, what can you do to calculate your specific startup...
by Sean Greene, SBA Official on 11/17/2011 - 15:54
As a former entrepreneur, I know that it is the talent of the people with the big ideas and the ability to execute that will ultimately build a company and put it on a trajectory towards success. It is those dreamers and those doers that can transform our daily lives by the products they imagine and create or the services they share and provide. As we celebrate National Entrepreneurship Month and Global Entrepreneurship Week, I am inspired by the movement to celebrate entrepreneurship as an important means to create jobs and revive...
by NOsburn, Former Moderator on 11/17/2011 - 14:06
America’s small businesses got a big boost to hire veterans last night when Congress passed part of President Obama’s American Jobs Act proposal. Specifically, small businesses will get: Up to $5,600 for hiring unemployed veterans Up to $9,600 for hiring unemployed service-disabled veterans President Obama says he plans to sign the bill into law. At the same time, he encouraged Congress to pass the rest his proposals in the American Jobs Act, which has a number of benefits for America’s small businesses,...
by sdoodala, Community Moderator on 03/02/2012 - 16:35
Holiday sales for the 2011 season are unfortunately forecasted to be “average.” That’s the word from the National Retail Federation (NRF), which anticipates only a 2.8% increase, a number far lower than last year’s 5.2% increase. That being said, the retail industry is in a better position than it was in 2008-09, and according to the NRF, merchants are optimistic that “…a combination of strong promotions and lean inventory levels will help them address consumer caution this holiday season.” But it...
by Rieva, Guest Blogger on 11/17/2011 - 03:30
The holiday shopping season is already upon us, and as soon as Thanksgiving passes, it will hit full swing. The good news for small retailers is that it's not too late to grab your share of holiday shopping dollars—but with Black Friday just a week away, you do need to act fast. Here are five things you can do right now that will make a huge difference in your holiday retail sales: Get involved with Small Business Saturday. Sponsored by American Express, this nationwide initiative to encourage consumers to “buy local...
by sdoodala, Community Moderator on 04/30/2012 - 18:59
If your small business uses both employees and independent contractors you may think there are few differences between them – they do the same work, have similar goals and you pay them both for their contributions. But regardless of whether you see any day-to-day differences, the IRS does. This article explains the grey area of contractor/employee classification and outlines a new IRS “amnesty” program designed to help business owners correct their worker classification mistakes. How the IRS Sees It The fundamental...
by BarbaraWeltman, Guest Blogger on 11/15/2011 - 08:37
While 2011 is not yet over, it’s not too early to starting planning ahead for 2012. If your business has employees, here are some things to help you get ready for next year. 1. Decide on wage increasesIf you can afford to give raises, you probably want to keep up with what your competitors may be offering. According to *one survey, most companies are giving raises of 3%. Raises are running higher for technology jobs. 2. Set retirement plans in motionTo enable employees to make salary elective deferrals to 401(k) and other similar plans...
by Caron_Beesley, Community Moderator on 07/24/2012 - 11:20
Going on a business trip? Visiting a potential vendor, customer or wholesaler? Confused about what business travel expenses you can and can’t deduct? Here’s what you need to know about what you can and can’t deduct as well as some tips, tools and mobile apps for managing your expense documentation. What Constitutes Business Travel? You can deduct most of your business travel expenses on your tax return; however, there are some limitations and considerations that the IRS sets on what constitutes business travel. According to...
by Caron_Beesley, Community Moderator on 07/24/2012 - 11:20
Going on a business trip? Visiting a potential vendor, customer or wholesaler? Confused about what business travel expenses you can and can’t deduct? Here’s what you need to know about what you can and can’t deduct as well as some tips, tools and mobile apps for managing your expense documentation. What Constitutes Business Travel? You can deduct most of your business travel expenses on your tax return; however, there are some limitations and considerations that the IRS sets on what constitutes business travel. According to...
by Caron_Beesley, Community Moderator on 05/04/2012 - 09:25
One of the first steps in the business planning process is determining who your target market is and why they would want to buy from you. It sounds simple, but do you really know what you are selling and to whom? Is the market you serve the best one for your product or service? Are the benefits of dealing with your business clear and are they aligned with those or your target customers? If you aren’t sure about the answers to any of these questions then you need to step back and revisit the foundation of your business plan. The following...
by Caron_Beesley, Community Moderator on 05/04/2012 - 09:25
One of the first steps in the business planning process is determining who your target market is and why they would want to buy from you. It sounds simple, but do you really know what you are selling and to whom? Is the market you serve the best one for your product or service? Are the benefits of dealing with your business clear and are they aligned with those or your target customers? If you aren’t sure about the answers to any of these questions then you need to step back and revisit the foundation of your business plan. The following...
by Caron_Beesley, Community Moderator on 05/04/2012 - 09:25
One of the first steps in the business planning process is determining who your target market is and why they would want to buy from you. It sounds simple, but do you really know what you are selling and to whom? Is the market you serve the best one for your product or service? Are the benefits of dealing with your business clear and are they aligned with those or your target customers? If you aren’t sure about the answers to any of these questions then you need to step back and revisit the foundation of your business plan. The following...
by sdoodala, Former Guest Blogger on 03/02/2012 - 16:46
Long before I entered the marketing and business development arena poor service was a pet peeve of mine so let me apologize ahead of time if my soap box rears its head in this post. I’ll do my best to keep it at bay. Prior to becoming a marketer I was a consumer. I of course still am a consumer but one with a heightened awareness to the advertising and promotional tactics used to attract me. A bit closer to home though is my heightened awareness to the need for the service or product to fulfill on the marketing promise made about...
by Carol Chastang, Community Moderator on 04/30/2012 - 18:59
It was a scary Halloween weekend for those living on the Eastern seaboard as many plans were pre-empted by a massive and unseasonably heavy snowstorm. Travel was halted as more than 30 inches of snow fell in some places. More than two million homes and businesses lost power as snapped tree branches toppled power lines, and several fatalities were reported. Just a few days earlier, parts of Colorado and southwestern Wyoming were hit by heavy snows, unusual for late October. Human nature keeps us from thinking about preparing for the...
by Marie Johns, SBA Deputy Administrator on 11/09/2011 - 10:07
On Monday I met Ryan Poortinga, who owns San Diego Sky Tours in San Diego, California. When Ryan graduated from college, he couldn't find a job, so he created his own job. With counseling from an SBA resource partner, he and a friend started San Diego Sky Tours. They give private, custom tours of San Diego by air. The business has been so successful that they are already hiring their first employee and planning on expanding or even franchising. Ryan is a perfect example of the next generation of entrepreneurs that...
by sdoodala, Community Moderator on 03/02/2012 - 16:54
Getting ready to enter the commercial real estate market? In an earlier article, I outlined 6 Tips for Negotiating a Commercial Property Lease without Getting Burned. If you are looking to rent or buy space for your small business, it’s well worth knowing some of the common terms that are used widely in this industry so that you and your real estate agent are talking the same language. From abatements to zoning ordinances there are literally hundreds of commercial real estate terms that span the dictionary. Here are 10 of the most...
by mheffner, Guest Blogger on 05/21/2012 - 13:49
Software is now officially approaching its 60th birthday – did you know that? Software got its start in the 1950s. And computers have had a place in the small business workplace for decades, especially starting in the1980s with the advent of Apple computers and the IBM personal computer. With software and hardware being around for so long, you'd think we business owners would know all the benefits of technology in our businesses, right? But here's the rub. A lot of technology change has occurred in just the past...
by Marie Johns, SBA Deputy Administrator on 11/08/2011 - 10:37
Like many Americans in my generation, my father was a World War II veteran. My life has been shaped and influenced by his service. Now, as Deputy Administrator at the SBA, I am committed to supporting America’s veteran entrepreneurs and business owners as they grow their business and put America back to work. Just yesterday, I hosted a forum for young veterans on the campus of San Diego State University as part of SBA’s Young Entrepreneurs Series and National Entrepreneurship Month. I was happy to meet so many...
by Dario Gomez, SBA Official on 11/07/2011 - 11:04
I’m pleased to announce the winner of a video competition for small businesses that have used exporting to increase their sales and create jobs. Exporting is a crucial driving force in building on America’s economic growth. This year alone, the U.S. had several record-breaking months of exports, helping contribute to the President’s goal of doubling U.S. exports and supporting 2 million jobs under the National Export Initiative. For this competition, we put out a call for businesses to make an educational video of three...
by sdoodala, Community Moderator on 04/30/2012 - 18:59
How does your business cope with the peaks and valleys of increased workload? By hiring the expertise of subcontractors, independent contractors, or freelancers to handle your extra work, your business can quickly scale up without creating a lot of additional overhead. However, to realize these savings it’s critical that you understand the pros and cons of working with subcontractors, and the hows of finding the right one for your needs. Here are five tips and considerations to help you assess your hiring strategy. How Much Money Can You...
by Karen Mills, SBA Administrator on 11/04/2011 - 09:09
On Wednesday, I visited an innovative green business in Memphis that retrofits big air-conditioning units in order to reduce wear-and-tear while saving their customers on energy costs. As businesses like this grow and find new customers, we need to do everything we can to make sure they have the working capital they need to scale up and create jobs. That’s why I was proud to announce that SBA recently reengineered our CAPLines program. Banks are already starting to use it to put more capital in the hands of small businesses....
by Davidh, Community Moderator on 04/30/2012 - 18:59
Has the state of the economy affected your company’s bottom line? Sales down? Looking for new customers? Consider breaking into a huge new market by going global. After all, 95 percent of the world’s customers live outside the U.S. You might be thinking: “Export? Me? I don’t think so.” Worried about regulations, currency exchanges, customs and international law? SBA is here to help. No matter how you choose to pursue exporting, the SBA and its team members from 20 different federal agencies are...
by Caron_Beesley, Community Moderator on 04/30/2012 - 18:59
Many consider email marketing as the de facto way to generate leads—just think of the countless offers and specials you get in your personal Inbox daily. But email marketing is more than that, it’s a general outreach tactic that every business can benefit from to help improve brand awareness, promote events and compliment your social media efforts. Is Email Marketing Still a Valid Tactic? There’s been a lot of debate too about whether social media has replaced email marketing as a primary marketing communication tool for...
by FranchiseKing, Guest Blogger on 11/04/2011 - 12:33
All prospective franchisees have one thing in common: curiosity. They’re all curious about income. They all want to know how much they’re going to make. It’s to be expected. After all, if one is going to invest their own money into a franchise business start-up, they should be able to get their salary range, right? If you’re looking to become the owner of a franchise, it’s important that you know some basics, up-front. One of them concerns your salary. That’s what this post is about. First off, I hope that...
by byrned, Community Moderator on 04/30/2012 - 18:59
The idea behind surety bonding is simple and direct. One person, or entity, guarantees to another that a third person will perform a contract according to its terms. Historical records show a personal surety assuring Pharaoh that a farmer will place an agreed upon amount of grain, of a specific quality, and by a certain date, into Pharaoh’s coffers. Small business contractors and service companies that want to become more competitive and bid on projects requiring surety bonds, can look to the U.S. Small Business...
by Marie Johns, SBA Deputy Administrator on 11/02/2011 - 13:54
This column originally ran in The Washington Post Capital Business. The federal government spends more than $500 billion a year in contracts, making it the largest purchaser of goods and services in the world. Small businesses throughout the country can and should take advantage of contracting opportunities, which can be a crucial source of revenue to help them grow, innovate and create jobs. President Obama has made small business contracting a top priority. He created an inter-agency task force which developed recommendations to...
by wreynolds, Community Moderator on 03/02/2012 - 17:18
You may think that a board of directors is reserved for large corporations with shareholder investments to oversee and strategic decisions to be made. The truth is that many small businesses can benefit from a board of directors. If you structure your business as an S Corporation or a Corporation you are required by law to have a board of directors. Likewise, if you receive venture capital funding you will need to form a board on which your investors will sit. But there are several other reasons why small businesses might consider...
by Karen Mills, SBA Administrator on 11/01/2011 - 16:03
I am thrilled that President Obama has declared that November is National Entrepreneurship Month. At the U.S. Small Business Administration, we’re using this month to celebrate entrepreneurship in a number of ways. We launched the Student Startup Plan to help more college graduates learn how to lower their loan payments in order to get the “breathing room” they need to start a business. We are hosting a Young Entrepreneurs Series (YES) to help more young people come together, exchange ideas, and get on a path toward...
by janied, Community Moderator on 11/01/2011 - 11:33
When a friend or family member asks what you do to help small businesses, what do you say? As a Program Analyst in the Performance Management Office, Office of Chief Financial Officer, I provide assistance to create financial and performance reports to educate small businesses about SBA programs. I make it a point to patronize local small businesses such as neighborhood stores, boutiques, athletic shops, home improvement contractors, and auto repair shops by keeping the dollars close. I feel their services are superior,...
Contributors
Top Rated Articles
Community Help
Archive
- September 2012 (20)
- August 2012 (26)
- July 2012 (29)
- June 2012 (25)
- May 2012 (33)
- April 2012 (35)
- March 2012 (36)
- February 2012 (35)
- January 2012 (30)
- December 2011 (26)
- November 2011 (40)
- October 2011 (37)
- September 2011 (34)
- August 2011 (34)
- July 2011 (29)
- June 2011 (29)
- May 2011 (28)
- April 2011 (4)
- March 2011 (4)
- February 2011 (3)
- January 2011 (21)
by Christopher James, SBA Official on 11/30/2011 - 11:47