Saturday, July 23rd, 2011

Large companies attract the best talents by offering good pay, stability, and retirement packages. How can startup businesses compete? Sometimes, the charm lies in the little things, like dental plans.
Dental insurance is costly in most developed countries—so costly, in fact, that even the working class is finding it more practical to travel to Eastern Europe and get their fillings for less. At the moment, only a handful of multinationals offer it to employees below the management levels. That’s one edge a small company can have over its larger competitors: with a smaller team to take care of, they can offer equal benefits across the board.
The past few years have seen dental plans become surprisingly affordable. In the U.S., there are three main types: direct reimbursement plans, indemnity plans, and managed care plans. Direct reimbursement is the most comprehensive, and therefore most expensive, of the three. It’s also the only system endorsed by the American Dental Association. Basically a self-funding system, it requires the company to set aside a certain amount and pay back employees directly from the fund as needed. Although it requires a large investment, it’s simple, straightforward, and does away with deductibles and other complexities.
Indemnity plans involve paying premiums to an insurance provider, who in turn will pay ...
Posted in Small Business | No Comments 
Friday, June 3rd, 2011

By most standards it’s safe to say that cloud computing has taken off in e-commerce, but the same can’t be said for other small businesses. A recent survey by Newtek Business, a business solutions and information provider, shows that almost three-quarters of small business owners do not understand cloud computing, or have not even heard of it—although they are willing to learn.
Out of around 1,800 respondents, 71% admitted they do not use cloud technology—the storing of business data and backups on virtual (online) servers—and only 26% were able to explain how it worked.
Newtek president and CEO Barry Sloane says this will most surely change over time, as cloud computing is widely touted as the next big thing in business. He added that as the technology takes hold and its economic impact becomes obvious, businesses of all sizes will have little choice but to embrace it.
Already, acceptance or at least awareness of the concept has been seeping into different industries. This is mostly because of widespread advertising by providers such as Cisco and Microsoft, according to Mr. Sloane. More and more, entrepreneurs are realizing how “the cloud” can boost business in terms of efficiency, productivity, data security and protection, and accessibility.
About one in four of the business owners surveyed said they ...
Posted in Small Business | No Comments 
Friday, May 13th, 2011

Here’s some good news for job-seekers: small businesses are more ready to hire than they have been in the past three years, as the economy picks up and business prospects look brighter.
A survey released by Vistage, a small business collective, earlier this week shows that the majority of small business CEOs plan to expand their workforce this year. The study polled more than 1,700 CEOs from December 14 to December 24, 2010.
Fifty-eight percent of the respondents said they think the economy has improved over the year, and about as many believed they would get even better in 2011. The same study conducted three months earlier found that only 40 percent expected things to look up.
Over 75 percent of the CEOs surveyed also expect their sales to increase over the next year, higher than the 65% who said so in the September survey.
The results are supported by data from other bodies, including economists surveyed by Reuters recently. Here, the experts say private companies will add some 145,000 jobs to the market, not enough to stamp out unemployment but up significantly from November.
Most of the job growth is expected to come from the small business sector, where the job cuts were particularly deep as the recession drew to a close in ...
Posted in Small Business | No Comments 
Friday, April 8th, 2011

Small startups and self-employed workers may finally get to deduct health insurance premiums from their taxes this year, albeit temporarily, thanks to an agreement between small business groups and the U.S. government.
In a deal with the Internal Revenue Service, the National Association of the Self-Employed (NASE) managed to secure a self-employment tax deduction for the self-employed and owners of very small businesses.
The Small Business Jobs Act will put some 15% of health insurance spending back into entrepreneurs’ pockets. A self-employed worker who spent $3,000 in health insurance over the year can get back around $450 in the 2010 tax season, while one who pays for family coverage worth $6,300 can get over $960 in rebates, according to NASE executive director Kristie Arslan.
Micro-businesses have long struggled to get the tax deduction, a benefit only enjoyed by larger companies and their employees. The self-employed and owners of very small enterprises currently have to pay for insurance out of pocket and cannot declare it as a business expense.
To qualify for the deduction, a person must establish the insurance plan under the business name, or his own name if it’s a sole proprietorship. Self-employed workers using the Schedule C, C-EZ, or F
...
Posted in Business Insurance, Small Business | No Comments 
Monday, September 21st, 2009

Most small business owners fail when it comes to their small business marketing plans. They've got excellent technical skills in their line of work, but that just doesn't translate to having effective marketing skills.As a result, profitability of many small businesses has been declining over the years. Ever increasing competition is making it more challenging in many ways. For those businesses that aren't losing money, most are not producing the profit they could be if they knew how to market themselves properly.These business owners usually just copy what they see other businesses doing, or they follow the advice of some media sales person. The problem is they copy the wrong types of businesses, and the media sales people typically only know as much about effective marketing as the business owner does.Without the right kind of marketing system in place, the success of any business is by pure chance. To help remedy this situation, below are seven things a small business can do to increase profits while spending less on marketing.1. Use the power of free stuffEveryone likes getting free stuff and you can use that to your advantage. If your business lends itself to giving away free samples of your product, do that. It helps get people hooked on it. Business profits have ...
Posted in Small Business | No Comments 
Sunday, September 20th, 2009

Tired of working for someone else? Have you ever had any thoughts of starting your own business either on a part-time or full-time basis? You are not alone. A lot in this world have started set up a small business on their own. Among the beauty in having your own business are you write your own pay checks, working flexi-hours, making your own decisions and a possibility of working from your home in your home business.In most part of the world, starting your own business is a very simple and straight forward process. Before you get excited about it, you have to understand the legal aspects of your business such as legal requirements and taxation. You also have to determine whether are you going to start a Limited (Ltd.), a Private Limited (Pte. Ltd.), a Partnership or Sole-Proprietor/Sole-Trader kind of company. After that, think of your company name and register it with your local Registrar of Commerce (ROC).One common mistake majority of people who what to start off their business are that they don't think about VAT (Value Added Tax) until the business turnover is very high. You are obligated to register to pay VAT. Please check with your local Inland Revenue on the amount of business turnover to be registered to ...
Posted in Small Business | No Comments 
Sunday, September 20th, 2009

Successful small business marketing can best be viewed as a triangle containing three essential elements: Brand, Package, and People.Brand forms the base of this marketing triangle. Brand is the foundation your business is built upon in the mind of your customer. When you rest a heavy load on a weak foundation, a crooked and cracked house is the inevitable outcome. It’s no different when building your business. A strong brand is critical to your small company’s long-term business health and profits.Brand is really your company’s identity. Brand is the essence of your company--the who of your company in the mind of your customers. Think your customers pick up your company’s identity by osmosis? By that latest brilliant advertising slogan? Sometimes, but for most small businesses, new customers learn of you--and your brand-- from another customer or from one of your employees.Yes, employees--definitely the most under-utilized marketing referral source in small business today.So, weaving a Brand Banner that customers and employees can carry around for you and then wave at the right time--for you, unsolicited--is an ultra-effective way for your small business to advertise. This Brand Banner must be easy to repeat and memorable. Your advocates will bear your Brand Banner because of the natural human inclination to share helpful information with other ...
Posted in Small Business | No Comments 
Sunday, September 20th, 2009

You've probably met several people who are stressed out, burnt out, and just longing for a place where they can relax. This scenario opens lucrative business opportunities like a massage therapy business. Massage therapy also aids in the process of fast recovery from injuries and illnesses. In this kind of business, you should like working with people, enjoy caring for them, possess the ability of empathizing with the distressed.Know the requirements. Find out the requirements of a massage therapist in your area before making any sort of investment. This will also provide the necessary information on your field of specialization. Choose your field of specialization. Research on what appropriate kind of massage appeals to you. Getting in touch with local therapists/schools usually helps. Undergo fundamental training. A training course teaching the dynamics of Swedish massage, Deep Tissue Massage and Trigger Point Therapy should be opted for. Moreover, an in-depth knowledge on Myofascial Release or Reiki is considered an advantage in the field. Apart from learning these different massages, it is also recommended to specialize in a field like Pregnancy Massage, Medical Massage, or Animal Massage. Attending massage training courses will cost you around $150 to $350. Invest on high quality therapy materials. It is always better to go for renowned proven brands ...
Posted in Small Business | No Comments 
Sunday, September 20th, 2009

Small businesses and entrepreneurs who want to market online may find their business competing against much larger companies with deeper pockets. However, don't let the size of the competition intimidate you. To market your business successfully, regardless of size, start incorporating some of the following marketing tips as part of your online marketing strategy to help grow your business fast. Identify Your Niche Bigger isn't always better. It's impossible to be everything to everyone. If you can determine which group of prospective customers you're getting the best results from then narrow your niche to cater to that specific group and give them what they're asking for. Position Yourself as an Expert Assuming you know everything there is to know about your product and/or service, position yourself as an expert. Those who are known as experts can command more money and often get more media attention, which translates into free advertising. Truth be told, the title of specialist and/or expert status is more credible than the generalist or even professional. Build Relationships Building relationships with your customers is an important piece of any successful marketing strategy and will have you rise above your competitors. Taking the time to get to know your customers needs, wants and desires will prove helpful in creating any future products and/or services and ...
Posted in Small Business | No Comments 
Sunday, September 20th, 2009

The business should be located in the state where you reside, especially if you plan to incorporate the business. Some laws require that at least one officer of the corporation resides in the state where the business is incorporated.Many people today are working from home and some of the advantages are as follows:1) No commute
2) No dress code
3) Tax breaks
4) Security
5) Home with the family
6) Flexible work hours
7) New technology
8) Quality lifestyleHome-based: Some business owners may decide to work out of their homes for a while before moving to a commercial location. Others have set up offices in their homes as the permanent business location. These businesses are called "home-based," and have gained in popularity as the number of small businesses rise.The home-based business offers many benefits that may not be available in the corporate structure. You should check the laws in your area before starting a home-based business to confirm that you are complying with the local ordinance and zoning rules. You want to make certain that the type of business you are operating from the home is acceptable in the area where you reside. Call the city or county clerk office to get a copy of your ordinance. If you live in a ...
Posted in Small Business | No Comments 