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If, like most small business owners, you use your personal car for business, be sure to follow tax rules so yo;ll get the biggest write-off yo-re entitled to. There are two ways in which to figure the deduction of your business driving costs: track the actual expenses for use of your car on business or rely on a standard mileage rate fixed annually by the IRS. Standard mileage rateThe standard mileage rate is fixed each year by the IRS and relieves you of the chore of keeping receipts for car-related expenses. This rate takes the place of...
Although we may not be excited about it, by now we are used to this economic climate. Even as we work to constantly enhance our personal economy, we know the face of the larger financial situation like the back of our hands (especially as it relates to shopping -- after all it's that Holiday shopping season). I;s the classic retail challenge in a strained economy: 1. higher unemployment rates equals less retail shopping, 2. fear about our personal economy equals less retail shopping, and 3. less shopping usually means less retail income....
There are two words used in the franchise industry that can be downright dangerous for some folks that are considering franchise ownership. The words that ;m about to share with you are what I call,-visual words- Yo'll'see The two words that 'm referring to are'turn-key' What was the first picture that came into your mind when you saw those two words? For me, I saw a key going into the door of an anonymous retail or food franchise. Then, thoughts of instant business success soon followed in my little franchise vision. Now, 'm going to...
Government business is big business; especially for small businesses. Hundreds of small businesses make millions of dollars every year providing their services and products to the government through, for example, a General Services Administration (GSA) or Veteran- Affairs (VA) Multiple Award Schedule Contract. Some of these companies also lose millions of dollars every year because they do not follow the government rules and regulations that go along with their GSA Schedule contracts. Trade Agreements Act (TAA) infringements, defective...
You do;t need a degree in public relations to effectively publicize business to the press. And you do-t need a huge marketing budget either. What you do need is a clear understanding of how to reach reporters and what the-re looking for. These 10 tips will get you started. 1. Know what makes you newsworthy. This differs for each media outlet. If you own a restaurant, the town newspaper might be interested in your grand opening. An industry magazine might be interested in your che's unusual management style. A'gree' publication might write...
As small businesses have struggled to survive during the recession, it has been difficult to reward employees with raises and/or bonuses. In fact, many small firms found it necessary to cut employee salaries, perks and benefits in order to survive financially. As we approach the end of 2010, the picture doesn't appear to be getting any better. Only a small percentage of small businesses say they'll be offering salary increases this year. And those who do plan for the increases to be limited. So how can you reward employees for...
Reality check: how many times have you eaten at a restaurant whose strategy was high end and delivery low end? How many times have you dealt with a business preaching customer service that did;t really offer you any? How often do you run into a business whose strategy aims to please, but its business, the people in it, and the decisions they make, do-t really aim to please? Tha-s all about strategic alignment, which is a nice business-like way to talk about actually doing what you say yo're doing. Not just talking about strategy, but also...
The term bond - brings to mind an investment that returns interest income to the investor. But there are other types of bonds that have nothing to do with investing; they relate to business operations and function much like insurance. Understand what a bond is, when it's required in your business, and how to get it. What are business bonds?Bonds, in the business context, are like insurance. They back up a promise to do something; if the promise is breached, the bond pays off to complete the promise. Common bond-types are: Fidelity bonds...
If you are considering franchise ownership, the place to start is at your kitchen table... In order to find out what opportunities you should be looking at, you need to get a legal sized piece of paper, a ruler, and a pen or pencil. Once you have those in front of you, do this exercise; 1. Put your piece of paper on a flat surface 2. Place your ruler on the paper, dividing the paper in half 3. Using the ruler's edge, draw a vertical line down the middle of the paper 4. On the left hand side list all of your assets. These...
Today I sit in day one of the Ohio SBD;s Statewide Conference and what do you think the word of the day is? Well, the word of the day is actually-cluster- but the true word of the day is the same as always when the question of what our clients need most is presented''fundin'. We receive about 10 to 12 calls a day for new requests for advising services and 90% of those requests are for help with obtaining funding. The conversation with our potential clients always displays their passion and their excitement in how they believe that...
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by BarbaraWeltman, Guest Blogger on Thursday, December 9, 2010 - 08:17