Have you considered the potential for selling your products or services outside the U.S.?  Your local Small Business Development Center (SBDC), an SBA resource partner, can help you get started. The many international trade services offered by individual SBDCs vary, but most often include: Product/Service Readiness:  Determine if your products or services are suitable for export, and what product adaptations may be required. Export Readiness: Learn if your company meets the key export readiness factors or, what you need...

As I covered in my pervious blog,  How to Get Paid for Your Export Sales, each of the four international methods of payments which include cash-in-advance, letter-of-credit, documentary collections and open account can have an impact on your company’s financing needs when filling overseas orders. Those needs can be broken down into either pre-shipment or post-shipment working capital. Pre-Shipment:  If you receive a purchase order from a foreign buyer, you will have a pre-shipment working capital need (the funds to hire labor,...

As I covered in my pervious blog,  How to Get Paid for Your Export Sales, each of the four international methods of payments which include cash-in-advance, letter-of-credit, documentary collections and open account can have an impact on your company’s financing needs when filling overseas orders. Those needs can be broken down into either pre-shipment or post-shipment working capital. Pre-Shipment:  If you receive a purchase order from a foreign buyer, you will have a pre-shipment working capital need (the funds to hire labor,...

There is little doubt that customers respond positively to the attractiveness of your workplace. In addition, it’s been *found that being in a good environment helps to motivate employees and adds to productivity. Improvements to your workspace may be modest or substantial, depending on your needs and your pocketbook. Either way, Uncle Sam can help defray the costs with tax write-offs. Here’s what you need to know. Deducting repairs A new coat of paint is a low-cost upgrade for your facilities. Other repairs may be more costly....

There is little doubt that customers respond positively to the attractiveness of your workplace. In addition, it’s been *found that being in a good environment helps to motivate employees and adds to productivity. Improvements to your workspace may be modest or substantial, depending on your needs and your pocketbook. Either way, Uncle Sam can help defray the costs with tax write-offs. Here’s what you need to know. Deducting repairs A new coat of paint is a low-cost upgrade for your facilities. Other repairs may be more costly....

Got a loyalty card in your wallet? Small business loyalty programs are a great way of showing customers that they are valued. They encourage return business and help you gather information about your customer demographic. Loyalty programs can also boost your marketing efforts. According to Experian CheetahMail, email campaigns that target loyalty program members are more successful – generating higher open rates, transaction levels and revenue. Even emails that invite prospects to join loyalty programs outperform regular email blasts. Of...

Ultimately, any sale is a gift until you get paid.  However, understanding how to get paid for an export sale is especially important, since your buyer could be 10,000 miles away.  There are four common ways to get paid for an international order. From the most, to the least, secure method of payment for the exporter, these are: 1.     Cash-in-advance- New exporters frequently request this method. Their attitude typically is, “I don’t know you very well, but if you send me the money I’ll send you...

How do you value your business plan? What’s it worth to your business? Here’s how I do it: I value the business plan by the decisions it causes. I value a business plan by the money it generates. I value a business plan by its results. How do you value anything in business? For accounting purposes, expenses are negative value, and assets – things you buy, things you own, that aren’t expenses – are worth what you paid for them. But what’s the real value? That’s where the phrase “return...

If you are a sole proprietor, any earnings you make or expenses you incur as a business owner are included as part of your individual annual tax return (Form 1040). To calculate exactly what to report on Form 1040, you must itemize all operational income and expenses on one of two forms – Schedule C or Schedule C-EZ. But which one should you use and how do you file? Here’s what you need to know. Who Should Use Schedule C? Schedule C (Form 1040) Profit or Loss from Business is the federal tax form filed by most sole proprietors or...

If you are a sole proprietor, any earnings you make or expenses you incur as a business owner are included as part of your individual annual tax return (Form 1040). To calculate exactly what to report on Form 1040, you must itemize all operational income and expenses on one of two forms – Schedule C or Schedule C-EZ. But which one should you use and how do you file? Here’s what you need to know. Who Should Use Schedule C? Schedule C (Form 1040) Profit or Loss from Business is the federal tax form filed by most sole proprietors or...

  Are you a small business certified in the U.S. Small Business Administration’s (SBA) 8(a) Business Development or Historically Underutilized Business (HUB) Zone program interested in learning how to better manage your business relationships?  If so, you’ll be happy to know that the SBA is teaming up with Experian’s Business Information Services, the leading global information services provider, to launch BusinessIQ ExpressSM, an online cash flow management tool for small businesses certified in SBA’s 8(a)...

  Are you a small business certified in the U.S. Small Business Administration’s (SBA) 8(a) Business Development or Historically Underutilized Business (HUB) Zone program interested in learning how to better manage your business relationships?  If so, you’ll be happy to know that the SBA is teaming up with Experian’s Business Information Services, the leading global information services provider, to launch BusinessIQ ExpressSM, an online cash flow management tool for small businesses certified in SBA’s 8(a)...

Honesty is the best policy. Adopting an attitude of being clear and upfront has many benefits in life, from reduced stress to better relationships, but it can also be valuable in your business and key to converting leads into real customers. SCORE mentors will tell you that developing an open and honest relationship with your leads is important for several reasons: - Honesty creates trust. If a lead feels comfortable sharing their needs and concerns, you can address them directly. - An honest dialogue will determine if your business is well...

Businesses move for all sorts of reasons. Existing rents may be too high; neighboring anchor tenants may have left; or perhaps you just need a bigger premise for your growing business! But how can you ensure your existing customers move with you and how can you go about attracting new customers to your new location? Here are six tips: 1. Communicate Pre-Move and Post-Move First, be sure to use every available touch point to communicate with existing customers about your impending move—and well in advance. Utilize e-mail lists, your...

Businesses move for all sorts of reasons. Existing rents may be too high; neighboring anchor tenants may have left; or perhaps you just need a bigger premise for your growing business! But how can you ensure your existing customers move with you and how can you go about attracting new customers to your new location? Here are six tips: 1. Communicate Pre-Move and Post-Move First, be sure to use every available touch point to communicate with existing customers about your impending move—and well in advance. Utilize e-mail lists, your...

Many of the provisions of the Affordable Care Act affect small businesses differently depending on their size.  For self-employed individuals in particular, there are new options for health coverage and other changes under the health care law that will directly affect you in the coming months. New Options for Health Coverage through the Affordable Insurance Marketplaces Under the Affordable Care Act, self-employed business owners now have more options than ever to find affordable health coverage.  Beginning in January 2014, self-...

  These days, loyal customers are hard to come by. So when you do have customers who are faithful to your business, returning day after day and year after year, you want to reward them. But how? There are many ways to reward your loyal customers, from simple paper-based methods to mobile apps and more. Here’s a look at some different options to consider. Rewards cards: Depending on your customer base, your budget and how sophisticated you want to get, you can start at the basic level with paper punch cards (“Buy 10, get one...

The franchise industry, like all businesses, was not immune to the economic crisis of 2008 and the ensuing credit crunch. But the vital signs of a recovery are there. According to the International Franchise Association (IFA), many of the country’s business sectors currently starting to show growth mirror those sectors expected to be the leading drivers of employment in franchising this year. These include food service, health care, hospitality and construction—all sectors with a high concentration of franchise businesses. “...

With fast access to cash, convenience and all the perks that come along with it, a business credit card is a standard tool used by business owners. But did you know that less than 50% of the credit cards obtained by business owners nationwide are actually in the company’s name? It’s a shocking reality, to say the least, but the good news is there are plenty of business credit cards that cater to savvy business owners like you who understand the importance of establishing business credit. The majority of cards one can obtain for a...

With fast access to cash, convenience and all the perks that come along with it, a business credit card is a standard tool used by business owners. But did you know that less than 50% of the credit cards obtained by business owners nationwide are actually in the company’s name? It’s a shocking reality, to say the least, but the good news is there are plenty of business credit cards that cater to savvy business owners like you who understand the importance of establishing business credit. The majority of cards one can obtain for a...

Hiring employees is probably the most important decision any entrepreneur will ever make. But relinquishing some of the responsibility of your business to others is tough. The key to getting it right is finding employees with the right value alignment and attitude (often easier said than done). Of course, you need to work at it too. Once you’ve built your team, learning to let go and empower employees is critical if you want focus on growing your business. These steps are explored in one of SBA’s Learning Center videos–Hiring...

More and more small companies are using blogging to promote their business. In fact, in 2012, “small business” was one of the fastest growing categories in Technorati, a global blog search engine, with 20 percent growth that year alone (source: Small Business Blogging Proved Effective for the Year 2012 by Rahul Manekari). Why? Blogs are a great tool for connecting with your customers and sharing your expertise. They also improve your company’s search engine rankings. Search engines love fresh, relevant and local content...

Today, women-owned businesses are the fastest-growing segment of new businesses in our economy. In fact, an analysis by American Express suggests that the number of women-owned businesses has risen by 200,000 over the past year alone, which is equivalent to just under 550 new women-owned firms created each day. Regardless of how you slice the data, we know that this trend is growing and that women are over-indexing in entrepreneurship. As Administrator of the U.S. Small Business Administration (SBA), I travel all around the country meeting...

Have you ever considered extending your small business storefront to Facebook? According to The New York Times, small retailers are having more success than their larger counterparts when it comes to selling socially with Facebook storefronts proving to be a successful outlet for small businesses with less than $100,000 in revenue and fewer than 10 employees. Yet Facebook storefronts present business owners with a number of challenges. For example, if you have a business page on Facebook, you do not own it; Facebook does, and as such, it is...

Have you ever considered extending your small business storefront to Facebook? According to The New York Times, small retailers are having more success than their larger counterparts when it comes to selling socially with Facebook storefronts proving to be a successful outlet for small businesses with less than $100,000 in revenue and fewer than 10 employees. Yet Facebook storefronts present business owners with a number of challenges. For example, if you have a business page on Facebook, you do not own it; Facebook does, and as such, it is...

Last year the Small Business Administration held a series of regional roundtables with accelerators and universities, and one of the major takeaways was that universities could use a dedicated forum to discuss best practices and build new connections between academia and startup entrepreneurs. Based off this feedback, the SBA and Department of Commerce created Startup University as a forum for educators and entrepreneurs like you to vote, comment, add provide feedback, but we need your help! Visit our new Startup University website...

Last year the Small Business Administration held a series of regional roundtables with accelerators and universities, and one of the major takeaways was that universities could use a dedicated forum to discuss best practices and build new connections between academia and startup entrepreneurs. Based off this feedback, the SBA and Department of Commerce created Startup University as a forum for educators and entrepreneurs like you to vote, comment, add provide feedback, but we need your help! Visit our new Startup University website...

Cuando un amigo o familiar te pregunta qué haces para ayudar a las pequeñas empresas, ¿qué les dices? Les digo que soy responsable de fortalecer la presencia de SBA en la comunidad, para que otros puedan realizar sus sueños de independencia económica, de crear empleos y proveer para miles de familias.  La SBA tiene una misión extraordinaria que siempre respaldaré.   De todas las cosas que la SBA hace para las pequeñas empresas, ¿cuál es tu favorita? Tendr...

Start-up accelerator programs are popping up all over the country offering industry-focused programs and support for a variety of business owners. Although traditionally focused on high-tech businesses, accelerators now serve a variety of entrepreneurial needs, including those of women, through programs that facilitate mentoring and education, access to investors, and networking opportunities. Take for example The Women’s Small Business Accelerator of Central Ohio, a nonprofit organization launched last year, with a mission to support...

Start-up accelerator programs are popping up all over the country offering industry-focused programs and support for a variety of business owners. Although traditionally focused on high-tech businesses, accelerators now serve a variety of entrepreneurial needs, including those of women, through programs that facilitate mentoring and education, access to investors, and networking opportunities. Take for example The Women’s Small Business Accelerator of Central Ohio, a nonprofit organization launched last year, with a mission to support...

The importance of privately owned businesses plays a significant role in economic development in our Native American communities. That is why SBA provides tools to encourage our Native American entrepreneurs to build sustainable businesses that create jobs and grow economies.  I am very excited to announce the Native American Communities Entrepreneurial Empowerment Outreach Training targeted to our American Indian, Alaska Native and Native Hawaiians communities.  SBA’s Office of Native American Affairs has organized the...

Sometimes, the best-laid plans don’t pan out. Take business ownership, for instance. Think about how many businesses are started and closed in the US every year. Not every business makes it. But, every small business owner wants to make it. Why else would someone risk their money, and commit the time and energy needed to be their own boss? Working For Yourself I’ve been my own boss since 2001. I call the shots. I decide my marketing budget. I decide how much of a salary I take out of my business. I choose when to take a vacation. I...

If you run an online or retail business, did you know that you might be prohibited from advertising a manufacturer’s products below a certain minimum price? Minimum advertised pricing (MAP) policies are particularly critical to manufacturers who sell their products for online resale, given the ease at which consumers can now conduct online and mobile price comparisons. MAP policies are also established to help small businesses compete and sell on service and value, rather than entering into a price war with cost-cutting big box stores....

When a friend or family member asks what you do to help small businesses, what do you say? I say that I am responsible for reinforcing SBA’s presence in the community, so that others may realize their dreams of financial independence, of starting a business of their own, of creating jobs and providing for thousands of families. The SBA has the most extraordinary mission – one I will always support.   What’s your favorite thing about what the SBA does for small businesses? It would have to be the creation of...

As the tax filing deadline approaches, we know that many small business owners are looking for ways to save money as they prepare to file their tax returns.  Although the Affordable Care Act does not require that businesses provide health insurance, it does offer tax credits for eligible small businesses that choose to provide insurance to their employees for the first time, or maintain the coverage they already have. Does My Business Qualify for the Health Care Tax Credit? Through 2013, to qualify for a small business tax credit of up to...

As the tax filing deadline approaches, we know that many small business owners are looking for ways to save money as they prepare to file their tax returns.  Although the Affordable Care Act does not require that businesses provide health insurance, it does offer tax credits for eligible small businesses that choose to provide insurance to their employees for the first time, or maintain the coverage they already have. Does My Business Qualify for the Health Care Tax Credit? Through 2013, to qualify for a small business tax credit of up to...

Interested in buying a business overseas? Whether you’re looking to expand into new markets or are just planning on funding your retirement plans outside the U.S., there are a number of steps you should take to ensure your new venture goes smoothly. Everything from business practices; legal and regulatory requirements; navigating an international sale deal; and language and cultural differences will come into play.   Here are some considerations and issues to bear in mind as you go about buying a business in a foreign country....

Interested in buying a business overseas? Whether you’re looking to expand into new markets or are just planning on funding your retirement plans outside the U.S., there are a number of steps you should take to ensure your new venture goes smoothly. Everything from business practices; legal and regulatory requirements; navigating an international sale deal; and language and cultural differences will come into play.   Here are some considerations and issues to bear in mind as you go about buying a business in a foreign country....