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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…
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.
DO YOU NEED A BUSINESS ACCOUNTANT?
January 17th at 3:45am
Every business, no matter how small, needs a financial and tax advisor. But your business needs a Certified Public Accountant (CPA), not just an accountant. Small business accounting can quickly become complex if you do it on your own. If you feel you’re losing control of who owes you money and how much, an accountant can help you get back on track. You may also want to measure key business metrics, such as the ratio of salaries and other employee payments to total revenue. An accountant can help here by managing your payroll and producing graphs so you can see…
CREATE A BUDGET FOR OFFICE EXPENSES
October 18th at 7:54pm
No matter what type of business you own, you must understand what it takes to run an office and prepare a budget within a range that does not exceed the revenues of the business. A basic budget should include only expenses that are absolutely necessary to running the business. As revenues increase, you can adjust the budget accordingly. Take some time to think about what is absolutely necessary to run your business–for example, utilities (electricity, telephone, Internet, water, gas) or office supplies (pens, pencils, legal pads, copy paper, stapler/staples, tape, printer ink, mailing supplies, filing supplies). Depending on your line…
HOW TO SAVE IN BUSINESS TRIPS
October 11th at 7:44pm
Business travelers spend an average of $949 on airline costs, hotel fees, and other expenses during trips around the U.S. annually. Meanwhile, for every dollar spent, companies commonly see a $2.90 profit increase and a $9.50 rise in revenue. Check out 10 of the most effective ways to reduce your overall corporate travel spend. Tighten up your corporate travel policy. Have a pre-trip approval process. Make savings on airline flights. Cut the cost of hotels. Set a realistic food and transport allowance. Plan ahead. Understand travel auxiliary charges.How to Save Money on TravelUse the Free Days. Such a simple tip I know but simple is always good. Talk to the Locals. This is…
DO YOU NEED A BUSINESS MISSION STATEMENT?
September 20th at 7:31pm
Every business should have a mission statement as a way of unifying the organization. So you can think of a mission statement as a combination of what your business or non-profit does and how and why it does it, expressed in a way that encapsulates the values that are important to you. Mission statements are a way to direct a business in the right direction, and they play a part in helping a business make sound decisions which can be beneficial to the revenue stream. Without a mission statement, businesses may struggle when it comes to planning for the future.…
PAYROLL OPTIONS FOR YOUR BUSINESS
July 19th at 12:03am
Did you know that 1 in every 3 small business owners gets penalized by the IRS for payroll errors? Those fees and fines add up. When you add on the extra time and energy of figuring out the complicated payroll system, it suddenly doesn’t seem like a great place to cut costs. The 5 Best Payroll Options for Small Businesses Intuit Payroll. Looking for the barebones when it comes to payroll services? Or do you want a fully-automated, everything-but-the-kitchen-sink payroll service instead? No matter where you fall on that spectrum, Intuit Payroll has an option for you.OnPay. OnPay doesn’t have all…
MARKETING IDEAS FOR RETAILERS
May 3rd at 9:54pm
If you are running a retail business — whether brick and mortar or online — there are basic principles you need to adhere to in order to drive traffic and turn sales. Having an effective retail marketing strategy is key to the success of every retail operation. Here are some proven retail marketing ideas from experienced business owners and seasoned marketers to help you bring your store to even greater heights. Markdowns. Master the Art of the Window Display. …Loyalty Programs. …Hold Events. …Leverage Social Media. …Start a YouTube Channel. …Rent a Stand at a Local Fair. …Sell Locally-Made Products.