All Articles Tagged "small business"
Working for yourself can have wonderful perks as you are your own boss, you call the shots and you get to pursue the dream of entrepreneurship. Yet there are parameters we must function within in order to stay in the good graces of the government. One requirement that is pretty mandatory is paying estimated taxes throughout the year. But what happens if you don’t? What are the consequences and what should one do if they find themselves in this predicament? Here are some tips on what to do if you’re short on estimated taxes.
According to American Express, Small Business Saturday is a day dedicated to supporting the endeavors of small businesses. Founded in 2010 by the credit card giant, Small Business Saturday occurs the Saturday after each Thanksgiving. Small businesses and entrepreneurship are the cornerstone to our society as even the smallest of dreams can turn into something extraordinary. How many times have we heard stories about a mom and pop shop hitting it big, eventually launching multiple locations and even branching out to franchise opportunities?
Regardless how big or small a business gets, it’s important to support their endeavors as our commerce gives them a chance to succeed. Here are the benefits of Small Business Saturday. Hopefully you will allocate some of your Black Friday and Cyber Monday dollars to the little guy.
Many business owners are eagerly awaiting the effects of the holiday season on sales. October to New Year’s marks the busiest shopping period in the United States and any sensible owner should remain a step ahead to reap the full benefits. Whether revenue becomes slow during this time and you need to batten down the hatches until it passes or there is an impressive explosion of profit, you’ll need to prepare for the upcoming seasonal changes. The following tips are geared toward helping you gain and hold customer attention and make the most of the holiday shopping frenzy.
From Black Enterprise
Partnerships fail for many reasons. Misalignment of personality is possibly the first reason that springs to mind, but according to the Michigan law firm Family & Aging Law Center, the two most common reasons that business partnerships fail is 1) failure to make an adequate plan, and 2) more importantly, from a legal perspective, failure to have a written partnership agreement that outlines in detail the partnership structure.
When it’s time to end a partnership, navigating the process can be difficult. The Small Business Association recently published the article: “Is It Time to End Your Business Partnership? Here’s How.”
Without a partnership agreement, dissolving a partnership can get nasty and carry a lot of risk. For example, if a partner isn’t paying bills on time or making regular contributions to pay off a business loan. Lapses and disagreements like these can quickly spiral out of control and impact your creditworthiness, relationships with vendors and so on.
Read more at BlackEnterprise.com
Whether you are an accomplished business owner or just starting the initial stages of creating a business, nothing can be quite as exciting as pursuing the American dream. Who wouldn’t want a shot at being their own boss or turning a vision into profit? It does sound nice.
One thing that all entrepreneurs and future entrepreneurs need is encouragement as the road to success is never guaranteed or perfectly laid out. Some may turn to various media for the necessary motivation to keep going. Here are 10 inspiring books every entrepreneur should read.
With a shaky economy that’s still trying to right itself, it’s even more important for aspiring small business owners to invest in ideas that require very little initial capital, including educational investment. Taking lots of courses and pursuing advanced degrees can be costly! Below you’ll find nine areas that show great potential and won’t deplete your pockets.
Thinking of starting a business? You’ve probably stewed over the idea, written out a business plan, and begun to debate the pros and cons of a variety of decisions with people you trust. You’re headed in the right direction. But knowing that many new businesses fail within the first five years, it behooves you to keep an eye open to the common pitfalls that could lure even the best small business owner. You’re in luck! Below is a list of nine common mistakes small business owners make. Print it out, study it, and when you find yourself headed towards a trap… run!
According to the U.S. Small Business Administration more than 50 percent of small businesses fail in the first five years. The stats aren’t too encouraging, but there may be something you can do to give your new firm a fighting chance.
Want to give your small business a better chance of thriving? Move. Some cities are more small business-friendly according to a new report from credit card comparison website CardHub.
CardHub’s study examined the 30 largest metropolitan areas around the country and ranked each city’s small business work environment based on 10 criteria, including small business job growth, salaries for new hires, cost of living and stress index, reports The Huffington Post.
The list is surprising. Minneapolis and San Antonio, for example, beat out Los Angeles and Chicago to make the top 10. And bankrupt Detroit came in last out of all 30 cities.
Phoenix and Riverside, Calif., were among the cities with the fastest growing small business communities, but they ranked among the bottom 10 for work environment. Here are the top three:
Yesterday, MadameNoire Business hosted its first Twitter chat (yay!) with Tia T. Gordon, founder and CEO TTG+Partners, a PR firm specializing in issues of diversity and education. During our hour online, we discussed everything from the current state of public relations to running a small business.
Twitter chats will become a regular part of MN Biz’s features, so keep an eye peeled for notices about them when they happen. And be sure to follow us on Twitter and sign up for our newsletter, which will also have reminders about chats and other events that MN Biz is hosting or participating in. The hashtag for our Twitter chats will be #MNBizchats.
But back to yesterday’s event. There was a great conversation happening yesterday. Here are the highlights.
From Black Enterprise
Professional employer organizations (PEOs) are a possible solution to help small companies maneuver through the Affordable Care Act, also known as Obamacare. With enrollment for health care reform beginning Oct. 1, (shutdown or not) many entrepreneurs are still be wondering how to deal with some of the hard to understand new requirements the law will bring.
Anish Rajparia, president of ADP ’s Small Business Services division, ADP TotalSource and ADP Retirement Services in Roseland, New Jersey, estimates that now only about 5% to 10% of U.S. small businesses use a PEO. But he believes that at least 30% to 40% of small businesses should consider the tool as an alternative option to help them deal with the many complexities of Obamacare.
PEOs are firms providing services that allow companies to outsource their management of human resource duties, including employee benefits, payroll, workers’ compensation and unemployment insurance claims and other administrative tasks. The goal: Relieve the PEO client of those functions so the entrepreneur can focus on running the business and increasing the bottom line.
Read more at BlackEnterprise.com