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BUSINESS TAX TIPS
October 1st at 8:54pm
Small business owners spend time each quarter reviewing invoices and receipts as a first step toward filing their taxes. But this process typically results in spending money rather than saving it. In reality, tax time can be a time when you save money if you take advantage of all the small business tax deductions that are available and appropriate for your business. Here are 10 tax savings to keep in mind for your business, Utilize tax filing software. …Keep close tabs on all receipts. …Pay for your retirement now (and get a payoff later). …Deduct your home office. …Deduct your car expenses.…
SMALL BUSINESS IN AMERICA – IMPORTANT DATA
September 24th at 8:48pm
In the U.S., existing small businesses comprise 99% of all employer firms, employ nearly half of the workforce, and account for more than 60% of the private sector’s net new jobs. ● Firms with fewer than 500 workers accounted for 99.7 percent of those businesses. ● Firms with fewer than 100 workers accounted for 98.2 percent. ● Firms with fewer than 20 workers made up 89.0 percent. ● “Small businesses accounted for 61.8% of net new jobs ● “Small businesses created 1.9 million net jobs ● “Firms employing fewer than 20 employees experienced the largest gains, adding 1.1 million net…
ARE YOU READY TO SELL YOUR BUSINESS?
September 17th at 8:40pm
Everyday small business owners (retailers) make drastic mistakes when selling their business and lose thousands of dollars in the process. All their hard work and long-term investment goes down the drain. These mistakes are often easily avoidable. As entrepreneurs, they had once dreamed of owning their own business and building it to success—to reap the rewards in the form of a successful business sale. Sounds like a great plan! But making the sale is not as easy as it may appear. Selling a small business is a complex venture that involves several considerations. It can require that you enlist a broker,…
BEST CITIES TO START A NEW BUSINESS
September 10th at 8:32pm
You can start a business just about anywhere, but some locations might fund themselves better to your company’s long-term prospects. The top 20 top cities are: Orlando, FL Oklahoma City, OK Miami, FL Austin, TX Tampa, FL Charlotte, NC Durham, NC Raleigh, NC Atlanta, GA Denver, CO Fort Worth, TX Jacksonville, FL Houston, TX St. Petersburg, FL Dallas, TX San Antonio, TX Irving, TX Laredo, TX Oakland, CA Irvine, CA Every small city offers unique advantages and disadvantages to new business owners. Some benefits include lower overhead costs, stronger relationships with customers and the potential to become a big fish in a little pond. Size matters when choosing a city in which to launch a startup. As many veteran…
BUSINESS FUNDING 101
September 3rd at 8:25pm
Before you sit down at a bank — or in front of a keyboard — to apply for business funding, there are a few questions you should ask yourself. How much money do you want to borrow? What is the funding for and why do you need it? Those might seem like obvious questions, but many business owners don’t have the answers when they apply for funding. You must first figure out what you need to use the money for — business expansion, equipment purchase, debt payoff, inventory — and then determine how much you can realistically afford to repay,…
THE ELEVATOR PITCH
August 27th at 8:18pm
An elevator pitch is a brief, persuasive speech that you use to spark interest in what your organization does. You can also use them to create interest in a project, idea, or product – or in yourself. A good elevator pitch should last no longer than a short elevator ride of 20 to 30 seconds, hence the name. An elevator pitch is important because it communicates the most important aspects your business and services within that short amount of time. First, you have to decide what exactly you want to communicate about yourself or your business. 5 Tips on How to Create Your 30-Second Elevator Pitch Consider your goal. Think of the target you…
RECESSION PROOF BUSINESS
August 20th at 8:10pm
The global financial crisis of 2007-2009, rewrote the rules about recessions. Many economists are now saying that there’s no longer such a thing as a recession-proof business. The best that employees can hope for is a recession-resistant business, meaning one with a better chance than most of riding out a recession Recession-Proof Industries Food and Beverage. No matter the state of the economy, people must eat. …Retail Consignment. When cash flow is weak, people typically don’t buy new furniture, books or clothes — that’s a no-brainer. …Information Technology. …Finance/lendingRepair Industry. …Health and Senior Service Industries. …Cleaning Services. If your company is one…
BUSINESS INSURANCE
August 13th at 8:03pm
Most small businesses need General Liability and Property Insurance at the very least. If you have employees, you’ll probably need Workers’ Compensation Insurance as well; most states require it. Commercial Auto is important if you or your employees drive for your business. Businesses need business insurance because it helps cover the costs associated with property damage and liability claims. Without business insurance, business owners may have to pay out-of-pocket for costly damages and legal claims against their company. Insurance companies basically do three things with the premium dollar. First, they pool the money to pay claims. Second, insurance companies pay for expenses involved in selling and providing insurance protection. … Earnings from investments help keep down the cost of insurance to policyholders. Looking for business funding? Easy online application with First Down Funding.