When you think about retirement plans, you don’t tend to think IRS. But if your business operates a retirement plan for its employees then the IRS, and of course your employees, expect that you keep it in good shape and optimized for the best financial return.
Jul
14
Social media and more specifically blogging have become increasingly important to marketing a small business in today’s evolving business world. But probably no part of running a small business has evoked more debate or created more stress for entrepreneurs unsure just what their blogging and social media campaigns should look like. And how can small business owners grapple with a specialization often so distant from their core competency? Still, social media and blogging give small businesses a great reach, a literally global reach. We hope this small business news roundup answers some questions and perhaps raises some for discussion too. Read on.
Tools and Trends
Managing your social media. O
Jul
10
While it may be a bit of an exaggeration to say that most new businesses don’t survive past the first two years, government data does show that seven out of 10 new employer firms last at least two years, with only half surviving for five years (source).
Statistics aside, there is no doubt that steering a fledgling business venture through the startup phase and the immediate years that follow is likely to be a huge test of entrepreneurial character.
Here are some strategies and tactics to consider as you struggle and stride through the first few years of entrepreneurialism.
Year 1
One of the first things start-ups learn is that very few things in business go quite to plan.
While there are many things you can do to take care of setting up your business (take for example these 10 Steps to Starting a Business) – you will always encounter the unexpected.
From un-forecasted demand that you can’t yet cope with; new tax laws that you had no idea applied to you; unreliable suppliers; unruly business partners; or clients that don’t pay on time – the unpredictable lurks around every corner.
And while you may not be able to predict the pendulum swings of running a business, you can prepare for them and this means having a plan and plenty of cash reserves.
A business plan is one of the most important tools in your business arsenal . Yet,
Jul
8
Here’s an updated list of contests, competitions and awards for small businesses, brought to you every other week as a community service by Small Business Trends and Smallbiztechnology.com.
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Intuit Green Grants for Small Businesses
Enter by July 18, 2010
Enter at Love a Local Business. Follow the instructions to complete the Local Hero Challenge registration form and 10-question survey. Limit one nomination per business. One person may nominate multiple businesses using seperate Local Hero Challenge registrations with a unique email address for each business. Winner will receive a $500 grant, plus sustainability training.
Bonus Nomination: Earn a bonus nomination for your business by adding a post to Intuit’s Facebook Wall including your business name, city, state, and the name of the badge that your business earned after completing the Local Hero Challenge sustainability survey. (Note: You m
Jul
5
Especially during the busy summer travel and vacation season, lots of credit card consumers will be faced with an often-perplexing question or choice. Should they go ahead and pay extra for auto insurance when renting a car, or decline it and hope that they are covered by their credit card membership’s insurance program?
Sometimes the cost of a daily rental car insurance premium is a huge additional expense that can escalate the cost of auto rentals into the stratosphere. But without it, if there is an accident, the renter could wind up owing a car rental company the price of a brand new car. So
Jul
4
There are millions of sources of business advice. Some are good. Some are less good. It is often relatively straight forward to keep asking people for advice until you find someone who advises you to do what you wanted to do in the first place. This can be good. But it is unlikely to lead you to decide to do what you should do.
“Once you make a decision, the universe conspires to make it happen.”
Ralph Waldo Emerson
10 Step Decision Making Process
If you are unsure, it pays to talk to experts at several points in this process. However, experts can only advise in the stages up to the point where you make a decision. Use