President Obama is urging Congress to move fast to pass new tax breaks and lending incentives that would open up lines of credit for small businesses.
By: Don McDaniel VP - Discovery Bay Group L.L.C.
No doubt that last couple of years have been a big economic challenge for all businesses. The one thing for sure to remember about the economic downturn is that you, as a small business owner, will get no bailouts if you get into trouble. Although the economy is a little better we still have some challenging times ahead in the future. My guess is that we will be digging out for the next couple of years minimum. So What should we do to protect our portion of the marketplace. Here are some basic ideas that I know you already are acquainted with but maybe need to reconsider:
I have been purchasing a product called Mega Scenery Earth for my flight simulator hobby over the past couple of years. This product gives new life to the stock scenery found in Microsoft Flight Simulator X. I like to download these scenery products so I can have them faster then ordering a DVD. You know, instant gratification!!! A couple of weeks ago I purchased several new scenery blocks and was trying to download them over the internet. The speed was so slow it would have taken an entire day for one purchase. The problem was most likely my server speed was very slow because of increased use locally. So I emailed and left a message asking for help and suggestions at: http://www.megascenery.com Even though it was not their problem they immediately responded by sending me all the products I had purchased online on several DVD’s at no added cost to me. The result is I not only love the product but will continue to buy from them in the future because of their attention and quick resolution to my issues. This is the answer folks to long term success, a good product, great support, and a quick follow through on all customer inquiries. I’ll even pay more then somewhere else just because I know that they truly value my business.
The Business Mole
Well it has been awhile since we have posted to our business blog. Even though the market place is showing signs of improving and the stock market is beginning to respond it is still clear we have a long way to go before we see a return to a retail market that we experienced some two years ago. I’m going to write a couple of articles one on bad and one on good customer service. Small businesses must survive in the long haul by first having something folks want to buy and second by providing the type of customer service that will bring new customers through the door to purchase your product.Today I’m going to give you an example of how a good product can fail in the marketplace just because of poor support or customer service. I’m an avid flight simmer. My platform is Microsoft Flight Simulator X but I also buy a lot of flight simulator add-on products such as aircraft, scenery, and utility type software, to enhance my flying experience. I recently purchased a program, FSPassenger, that is a business, career, and passenger interface program, that helps you build your own airline and then manage and fly it.
Today’s tip is brought to you by Business Week. We also encourage you to visit Tom’s site for more information.
Opinions vary about efforts to make it easier to get an SBA-backed loan, but certain entrepreneurs should still apply, says Tom Taulli.
The Business Mole
Article By: Tom Taulli
Small Biz
http://www.bizequity.com/
Small-business groups had rallied for an economic-stimulus plan packed with generous new tax breaks and other relief measures making it easier for businesses to grow and hire employees in this tough economy. Well, they aren’t too pleased with the outcome.
“There’s not a lot in the stimulus plan that will put cash in the hands of people who will deliver it to the front door in the form of sales,” William Dunkelberg, chief economist with the National Federation of Independent Business, told the AP. Rather, he and others said the compromise plan finalized yesterday seems to focus on padding consumers’ pockets, with the assumption that the money will eventually trickle down to businesses.
NFIB and other small-business advocacy groups had pushed for measures such as a six-month payroll tax holiday, doubling the tax deduction for start-up companies to $10,000 from the current $5,000, and exempting an entrepreneur’s first $30,000 in net earnings from tax. While it’s still unclear what will be in the final compromise, it seems the business-focused measures were limited to ones that many business owners felt were less-than-adequate, including extending loss carrybacks to five years (now limited to just small businesses) and and continuing an expansion of Section 179 deductions to $250,000 on purchases of equipment such as computers, furniture, machinery and vehicles.
What’s more, some groups fear the compromise stacks extra, new burdens onto entrepreneurs that will make life harder than before. The Small Business and Entrepreneurship Council yesterday sent out a last-minute plea to strip the bill of the “Buy American” provision that will force the government to purchase all material goods used for public-works projects – claiming the international backlash created by such a measure will hurt small exporters. That provision was softened in the final compromise to say that the U.S. must comply with World Trade Organization rules, but critics still think it will have negative repercussions. The group also asked Congress to remove new rules that would force businesses to extend health insurance to laid-off workers with 10 years of service, and to get rid of verification and wage rules it says will make it difficult for small businesses to vie for government contracts.
By: Tiare Rath
Tax season is not a time any taxpayer particularly relishes, and small-business owners are no exception. However, entrepreneurs who play their cards right can ensure tax time is a little less burdensome.
Here are seven ways to reduce your small-business tax burden:
Interesting comparison of the Barack Obama campaign and success.In a nutsell, the book suggests that Barack won with the mantra: Be Cool, Be Social, Be The Change. That’s pretty good position for any small business.
Here is a tip on getting start-up funding for your new business at About.com.
By Rosemary Peavler, About.com Guide to Business Finance
Even in a recession, angel investors are still interested in funding start-up small businesses, even though they are a bit pickier about which start-ups they fund. It’s always a challenge to get angel investor funding, but in these trying times, you have to have a bullet-proof business plan, a good management team, and financials that will stand up to the glare of the spotlight. Sources of angel investor funding have not dried up in this recession. Companies just have find a good match and take their presentation preparation seriously.
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