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As February rushes by, those New Year resolutions may be turning into distant memories if not forgotten dreams. Except for that one significant promise, to become master of your own destiny and invest in your own business.
If you are dreaming of owning your own business, there are some trends in your favour. Slow to moderate overall economic growth in many countries hard hit by the recession is forecast to continue through 2011. In the US, the small business sector remained in recession in 2010, lagging in recovery, and is now predicted to see stronger demand and better business conditions this coming year. Key trends seen as driving the growth of small business are
small manufacturing businesses in niche markets aided by technology making barriers to entry lower,
the weak dollar aiding US manufacturing cost competitiveness,
the internet becoming more widely known to small business as a low cost way of sourcing and selling goods and services.
Small business growing more familiar with and making greater use of social media in their local marketing efforts -think Groupon Inc and its highly successful coupon business supporting local deals!
When time is not on your side, the resilient and proven franchise business model allows you a faster and often comparatively risk adverse track to generating positive cash flow. Although its your own business, you don`t have to go it alone making a proven franchise operation a smart choice. Strong viable franchise opportunities are there for the qualified buyer, so how to join that select group?
Access to financing from traditional sources is expected to remain tight in the US throughout 2011, in spite of the Governments continuing efforts to support small business through tough times. We recommend that potential franchise buyers be cautious when selecting companies to do their 401(k) rollovers or when selecting a financing company with all of the fraud that has occurred in the banking sector over the last several years, finding a reputable company to provide your financing is more important than ever and a winning point in your favor with franchisors.
MatchPoint Franchise Consulting Network was founded in 2006 with a mission of helping companies expand their franchise networks and improve their system. The advice offered freely to franchise buyers by MatchPoint consultants is vital to the buyer in making a better, prudent, buying decision. The advice offered by our consultants does not make us lawyers; it is there to help the investor with a high quality due diligence process.
MatchPoint consultants know the red flags in the investment field. It takes the very few promoters that practice business fraud to taint the dream of the franchisee and their family.
That`s where seeking the independent advice of an expert franchising consultant is prudent and invaluable.
If you are thinking to grow any small business in todays era then you need to focus on new avenues that many have been avoiding so far. What many business sales consultants do is simply work on doing more of whats already being done. Making more ads and do all the phone calls. What one can effectively do and find success is all by changing their approach. Thinking big and exploring new avenues which the competitors have missed are the solution for all small business to grow bigger.
Many have tried all doors to expand capital needed to grow business. Even traditional bank lenders show their back in need of working capital. And if the time is anyway related to recession then it surely gives an excuse to them to move out.
The newest technique suggested by sales consultants was opting for a specialized form of asset based finance in which all the money is lent against companys purchase orders. This thing works like a transactional line of credit in which they are able to give 100% credit to foreign suppliers for producing goods. During challenging economic times, inventive solutions were approached by few sales consultants like this to help companies stay afloat and remain competitive. It is a time for any businessman to reinvent all strategies as according to the situations prevailing and stay financed to do all the market and sell. Many turnaround ideas for entrepreneurs to be used are:
One can create independent sales with distributorships or franchises. The more people you have it will get shared for the better. Sometimes one can find partners with more capabilities that you were finding difficult to handle.
Attach with a complementary business. For instance if you are making cars you can try your hands on companies that can make tyres for your car. The technique exposes you to a new customer base and all marketing and promotional expenses get shared too.
Expansion in the form of new location open new scales and avenues in steps of entrepreneur. This attracts whole new crowd and gives you a potential to sell more or grow up however the prospects can be vice versa too.
Getting online is a must for any business these days and is helpful in boosting up business. It gives an exposure to a small business on a wider circle with many prospective leads, new markets and collects new idea from all around the world.
Enhance your customer base as it is the most cost effective way to grow your business. Acquiring new customers always involve high costs so introducing new lines in your current product keeps complimenting each other.
Computer support Virginia services can allow you to fix any kind of hardware or software related problems of your PC. For small businesses, such services are quiet beneficial a sit can allow them to gain cost effective services.
Easy and fast way of carrying business is by means of using computer as it can assist in smooth running of business. For people running small scale business computer support Virginia services are essential as it can assist in resolving technical problems associated with your computer. In order to solve technical problems you need to have good set of skills and for people running small business it is not possible to carry out all activities single handedly. If you want to prevent your PC from sudden breakdown then it is essential to opt for reliable computer support services. Sudden break down might create problem for you as you might loose all your previous data.
Proper diagnosis of problem is essential to come up with suitable solution related to computer repair. Hiring professional services can make it possible for you to analyze problem and accordingly work over it without spending extra bucks on problem which actually do not exist. Small problems related to installation of anti virus software or corrupt software can be solved by you but when it comes to major problem, you would need computer support Virginia services. Opt for the services which say no to guesswork. Guesswork in technical errors might sometime not work in your favor and can further create more problems related to your PC.
While hiring such services for your small business see to it that professional IT expert is available to identify the problem and provide with solution accordingly. Don’t let the employee of your business assume the problem and apply their own mind to solve it. This might sometime work in your favor but can sometime invite more problems. Also it will waste lot of working time and so hiring professional services can help you to save considerable amount of time. Apart from time factor you also have to look after cost factor. Try to resolve problem as soon as possible before it gets too big and invite spending more amount of money.
Computer support Virginia for small business can be very fruitful in terms of services as well as cost. Look for the service provider who is located near to your business location so that you can save time involved in traveling. Look for the IT professional who can find it easy to resolves different problems related to hardware as well as software. Troubleshooting procedure should be aptly carried out so that further you can find your computer easy to maintain.
NTConnections provides fast data networking services, best it consultants online & exceptional business technology solutions. Opt for more comprehensive technology & Computer Support Virginia.
Here are seven ways for owners of small businesses to save money on their taxes.
1. Incorporate Yourself: If you`re still a proprietor or partner of a business, it`s time to incorporate yourself. Not only will you limit your liability, but you may enjoy lower tax rates on small business income and other tax advantages as well.
2. Be Home Based: If possible, continue (or switch to) being a home based business. Not only will you keep your overhead down, but you will be able to write-off (or deduct) the business use of your home.
3. Income Split: Pay reasonable wages to your spouse and children. In this way, you can legally divert income taxed at your higher rate to your family members that are in a lower tax bracket.
4. Rearrange Your Affairs For Maximum Tax Savings: Can you make some changes to turn your hobby into a moneymaking business? Can you use that extra room in your house as a home office for your business? Can you arrange to use your car more for business purposes? Can you arrange for more of your entertainment expenses to be business related?
5. Document Your Expenses Well: Do you document your expenses well so that they would survive a tax audit? Have you kept a mileage log so that you can prove the percentage business use you claim for your vehicle? Have you kept receipts for all your entertainment expenses and listed the business purpose on the back of each receipt?
6. Be Punctual: File all returns and pay all taxes due (income, payroll, sales, et cetera) on time. This way, you avoid expensive late filing (and payment) penalties and interest.
7. Develop a Tax Planning Mindset: Some people only worry about their taxes during tax season. However, you will save a fortune in taxes, legally, if you make tax planning your year-round concern. Do you make business and personal purchases, investments, and other expenditures with tax savings in mind?
Small businesses owners often find that there are certain times of the year when cash flow is not as healthy as it could be. This could be due to the fact that the business has seasonal customers, money being spent wastefully or through outmoded business practices. Regardless of the reason as to why money is being lost one thing is for certain good business owners and managers are all looking for a way to save the business money.
One way to save money in a small business is to implement small business management software. Software such as this enables a business with less than 50 employees to be operated via one software application. By being able to switch to one application a small business owner can save thousands every year as all other applications that require a monthly or annual fee to be discontinued.
As soon as they see just what small business management software can do many business owners and managers are keen to start using it. Not only can small business management software save a business money in terms of slashing the number of applications a business has to pay for it also saves money in other ways such as:
Increasing the number of leads that are converted into sales with ease. When using small business management software an employee can create a quote and save this to a customers file. This will contain their contact details and other relevant information. If this quote is not accepted within a certain period of time, this lead can then be chased up by the sales department.
By ensuring that projects are always completed on time a business will not lose customers. With small business management software projects can be assigned and tracked in real time. Managers and owners can quickly and easily check on projects that are nearing their due date in order to ensure that they are progressing as they should be. By utilizing this feature projects should never be behind schedule ever again, which means that money will be saved in the long run through customer retention.
Small business management software also allows employee calendars to be seen by owners and managers at a glance. This means that projects and so on can be planned with regard to staffing numbers. Money is therefore saved by ensuring that all employees are working to capacity and not being diverted to projects which are already fully subscribed.
As small business management software is web based it means that it can be accessed from anywhere in the world that has an internet connection. So if a manager or owner is away from the office on business they can access the application and get any information that they need. This saves business money as laptops and mobile internet is not required when an owner or manager visits potential customers.
These are just a few of the ways in which small business management software can save a business money each month.
Seeking out small business resources doesnt have to take long if you know what your business needs. Small business owners can find a wealth of resources on the many websites that cater to the tools, services and employer information that every business needs to run efficiently. By using the right small business resources to find everything they need online, small business owners can save themselves time that could be used in that business.
Business Tools Online
No business runs well without the right tools available to employees. Small business machines such as computers, printers and labelers are all used in the typical office, and staying on top of the latest innovations in those machines can mean staying on top of the competition. Whether its postage meters that a business needs or a simple calculator, employees cant use them if they dont have them. Software, office furniture, printing paper and more can be found at low prices online, and shopping for them takes less time when its done on a website.
Hiring Employees and Contractors
Every business needs employees to keep it running. To find those, business owners dont have to place a newspaper ad any longer. They can use one of the many websites that can assist them in finding productive employees. Some sites allow you to read the profiles or resumes that are posted by job seekers. This is an easy way to find qualified candidates for the open positions.
Another type of site is one that allows business owners to put up an advertisement for a job opening. Many employers prefer to post an ad because they want fresh employee leads and want to post the job specifications. Using these jobs, business owners can seek out employees, independent contractors or even interns. Owners can choose popular sites that will yield hundreds of applicants or more specialized sites that will attract candidates within a specific field. Other job sites, such as bidding sites, allow employers to post specific projects and to receive bids from multiple contractors.
Financial and Legal Services
Sometimes, its the services that a business owners uses that determines how successful that business is. The business must have an effective payroll system to keep employees and contractors paid in full on time. It may need legal services for drawing up contracts and protecting the company against liability. Finding out which services you need and where to go to get them can both be done through sites that provide these business resources.
In some cases, the services can be provided through websites. In others, the sites connect business owners to local professionals who can provide those vital services. For owners who simply need information about which services are important and how they can be integrated into the business, there are plenty of educational resources online as well.
Wondering if your business is too small for a group retirement plan?
One of the keys to attracting and retaining top employees is to offer a high-quality retirement plan. A group savings plan conveniently helps employees save money for the future while reducing and deferring taxes today. Plus, the investment you make in a group retirement plan is an investment you make in your organization, your employees and your reputation. Everyone’s a winner.
Three options stand-out depending on what you want to accomplish with your plan and how much flexibility you need. These are: 401(k) plans, SEP IRAs and SIMPLE IRAs.
The 401(k) Offers the Most Flexibility and High Contribution Limits The traditional 401(k) is probably the most widely known retirement product on the market. It’s the fully loaded, high performance SUV of retirement plans. It’s generally defined as one that enables a business owner and employees to make consistent, tax-deferred contributions during the length of their careers.
SEP IRAs are Pretty Easy to Start and 100% Funded by the Employer Simplified Employee Pensions, more commonly referred to as SEPs, are also a popular retirement plan choice as they offer a contribution limit that’s similar to a 401(k). It doesn’t have all the bells and whistles of a 401(k) plan, but it’s got a good engine under the hood. One of the most important things to understand about SEPs is that 100 percent of the contributions made are by the employer (no employee contributions allowed) and these dollars are immediately vested for the employee.
The SIMPLE IRA is a Solid, Affordable Third Option
The SIMPLE IRA’s name is a bit misleading (it actually stands for Savings Incentive Match Plan for Employees). While both employer and employee can contribute to the plan, the employer must match and matching is vested immediately.
If you do decide that you want to offer a retirement plan, you are definitely going to need some professional advice and guidance. Pension rules are complex, and the tax aspects of retirement plans can also be confusing.
As a financial planning and wealth management professional firm, Mintco Financial has been helping its clients effectively plan for comfortable retirements.
Michael Minter, as a managing partner of Mintco Financial, is a trusted investment management professional who carries more than 16 years of experience in this challenging career field.
Throughout his professional history, Michael Minter has gained strong insight into what skills and knowledge is necessary to perform investment management, wealth building services, small business development and retirement plans.
Michael MInter is also author of the book I-Plan, a guide for your financial security.
Call Michael Minter at 813-964-7100 at Mintco Financial.
Retirement Planning for Small Business
Information is business assets, like other valuable business assets, that must be protected against any threats. In medium to enterprise business networks, the management of the information security is a must. In small business networks, generally the organizations lack of competent security experts that should manage the information security. Therefore the choice of the deployment of small business network security appliance is a must for small organizations.
In large enterprise networks, they have many layers of security protections including the endpoint security, the management of information security and policies which must be enforced to all business unit groups. Unlike large scale business or enterprise networks, in small organizations – generally they do not develop the management of information security in place.
This is generally due to lack of IT security expertise which does not compare to the assets that must be rotected. Any layers of security that should be deployed, depends on how critical your information assets is. Therefore, they mainly focus in securing the endpoint security.
The entry point of the private network generally where all the internet threats are coming from, the intruders or the hackers as well as the malware will start to attack the vulnerabilities they found. Therefore, small business network security should concentrate in protecting the entry point by any types of secured firewall appliances. There are many security appliances available in the marketplace you can consider to use for your organization.
The following are some of the small business network security appliances you can consider to use for your small organizations. DSD-150 is designed for home or SOHO networks that use broadband internet connection.
DSD-150 Security appliance
D-Link DSD-150 internet security adapter is an all-in-one small business network security which is designed for home and small business networks. With this single device connected in the entry point of your broadband internet connection, you have a complete protection including network protection, firewall protection, virus protection, spyware protection, identity protection, pop-up blocker, SPAM blocker, and parental control – all in a palm-sized box.
DSD-150 is suitable for home and SOHO as small business network security which has 4 computers or more. installation and configuration is easy, DSD-150 has 2 Ethernet ports, WAN port must be connected to the modem (RJ-45 LAN port), and the LAN port must be connected to the wireless router.
CheckPoint Safe Office 500
CheckPoint Safe Office 500 is a small business network security a total internet security appliance for small to medium sized business networks. If your organization is lack of security personnel, dont worry trust the network security to this CheckPoint Safe Office 500 that can protect a network of up to 100 users from any types of network threats.
If you are like most businesses, the answer lies somewhere between ambivalence and total disdain.
All small business owners know the importance of low cost overhead. Working smart with your money has never been more important than it is in today’s economy. A very efficient way for small businesses to save huge dollars is by subscribing to a small voip phone system, also referred to as voice over internet protocol services. It is a method for making telephone calls by using the Internet. The technology became available around 1990 but with the recent advancements it has become a strong replacement for the traditional land line service.
One of the reasons that Internet VoIP is so popular is because it is very inexpensive as well as dependable. All of the equipment such as bluetooth voip headset, voip phone adapter, and headaches are hosted by the provider so all the business needs to worry about is the Internet connection and a telephone. In some cases you’ll be able to use the same telephones that you used for your land-line while others a special Voip broadband phone will be the best solution. The call quality is so good that rarely would anyone know that you were not using a land line. The provider keeps all the updates and relative maintenance up to date so having equipment or a service that becomes obsolete is not a concern.
The cost of Internet VoIP is so inexpensive because the calls are able to transmit over the Internet in place of a local telephone company’s system. By bypassing the local telephone company there is no fees that have to be paid to them. The process of dialing out and receiving calls is the same. You will need a high speed Internet connection and small voip phone system that is on at all times with a bandwidth large enough for the transmissions to always be clear.
To get started with Internet VoIP you’ll need to choose a voice over internet protocol providers and subscribe to the voip phone plans that best fits your business needs. With all the Internet VoIP options and providers now in the market place, it can be confusing for businesses to know what they need and the best provider for them.
AVAD Technologies, specialists is small business Hosted VoIP, has launched aggressive new pricing on its Hosted VoIP Phone Service. If you are thinking about switching your business to VoIP or just have some questions, please feel free to call (800) 733-4136
Click for Business voip telephone and Hosted pbx providers
Small business literally means those where the total workers are less than hundred and the capital is also less than a million. This definition varies from country to country but the key point is that it indicates the small scale business or personal business. The small businesses account more than fifty percent of the GDP for a country. Therefore each country put a lot of its concentration in the development of the small businesses. But there is still a problem that every entrepreneurs face at the initial stage, that is finding a start up business loan.
For a young entrepreneur, raising a fund is the most crucial part. This is because most of the people can come with the creative business ideas but when the question is the investment, more than ninety percent entrepreneur does not have the ability to fund the start up cost. And for them the most common solution is the bank loan. But the worst thing is although there are many schemes offered by the banks and other financial institution, getting a loan is still hard like before.
When a person apply for the start up business loan, the bank authority show little respect about his small business ideas and act like that the person will never going to pay the loan. This kind of obstacles often makes the situation hard for the young entrepreneur.
On the other hand, other resources for funding are also limited. Most of the people do not have enough money or property of their own to be self funded. There are different financial organization but, they have a higher rate which is not favorable for the small business. Therefore the bank loan is the most suitable for funding the small businesses.
The SME loans of different banks should be easier to get for the young entrepreneurs. And also more attractive offer should be created from both the bank and the government to aid the small businesses. This will be beneficial for the economy because according to the record, the new employment rate is higher in the small business industries. Also the revenue is also higher from the small and medium businesses.