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Senate Gets Fired Up About Competition in Key Sectors

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A panel is turning its focus to the telecommunications, health and transportation industries in a move that could help protect small-business profits. Senate Gets Fired Up About Competition in Key Sectors The leaders of a Senate Judiciary Committee panel dedicated to antitrust have announced they plan to spend this congressional term focused on the telecommunications, health and transportation sectors. These three sectors are absolutely critical to small businesses; together they represent … [Read more...]

Business Travel Sequestration Nightmares Confirmed

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It's as bad as it can be. Washington's budget reductions will result in major air travel delays. Business Travel Sequestration Nightmares Confirmed There was a great deal of speculation surrounding how the federal budget sequester would impact airline travel and to what extent new delays would occur. Well the speculation has given way to certainty as both the Transportation Security Administration (TSA) and Customs and Border Protection (CBP) have just announced the measures they are going to … [Read more...]

The Biggest Loser: Small Business Bears the Weight of Government Regulations

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New York City's soda ban is just the tip of the iceberg when it comes to complying with government regulations. “Arbitrary and capricious” are the words that New York Supreme Court Judge Milton Tingling used to strike down New York City’s regulation banning large sugary drinks. Not one to be left behind, New York City Mayor Michael Bloomberg responded almost immediately, indicating he would appeal the judge’s ruling. If history is an indicator, Bloomberg will likely win. His 2006 regulation … [Read more...]

House Republicans Launch New Budget With Zero Deficit Goal by 2023

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The battle over the federal budget is far from over. The battle over the future of our federal budget entered a new phase when House Republicans introduced a new budget which calls for annual spending increases of 3.4 percent instead of the current 5 percent. The effect of this relatively modest difference in long-term growth is a reduction of $5 trillion in spending over the next decade, achieving a balanced budget in 2023. Importantly, there are no tax increases included in the budget. This … [Read more...]

Should You Start Using Accrual Accounting?

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If you want your business to have a prosperous future switch to accrual accounting. When we are dealing with Excel spreadsheets and mountains of receipts, it's easy to forget that the purpose of accounting systems is to help owners make better business decisions. Recording transactions, preparing financial statements and analyzing data help us determine which activities are worth pursuing. There are different ways to record transactions and keep track of business activity. One way is to … [Read more...]

Why You Should Move to Puerto Rico Before Selling Your Business

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A new law eliminates capital gains taxes if you move to Puerto Rico. Adelante! Billionaire hedge fund manager John Paulson, who was born, raised and became insanely rich in New York, is seriously considering a move to Puerto Rico, according to recent reports. He isn’t the only wealthy person thinking of packing his bags. Under a year-old law, Paulson’s move to Puerto Rico would save him hundreds of millions of dollars in taxes that he would otherwise have to pay on capital gains made investing … [Read more...]

Wellness Programs Aren’t a Good Investment for Your Company

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Are employee wellness programs a flop? The evidence points to yes. Over the past several decades, many companies have created wellness programs that aim to improve the lives of employees outside of the workplace, improve performance at work and lower health care costs. Wellness has also expanded to include financial wellness, psychological wellness and all other kinds of wellness. Creating incentive programs to get employees to eat healthier foods, exercise and schedule medical screenings has … [Read more...]

Controversial Revenue Source That Could Alienate Your Customers

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Many business are making money by selling customer data. A Controversial Revenue Source. Is this a good idea? Selling information about customers to data brokers is turning into a big business. Is this Controversial Revenue Source a good idea? Companies that capture data about who buys what at their stores can package this information and sell it, creating a new revenue stream that is almost pure profit. ProPublica recently conducted an investigation to determine the extent to which information … [Read more...]

Cheap Credit Getting Dangerous

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An important financial organization has issued a grave warning about the global economic "recovery." Global Economy's Addiction to Cheap Credit Getting Dangerous The Institute of International Finance issued an important warning in a recent report published in the Capital Markets Monitor about the condition of the global economy. The IIF is the world’s only international organization for financial institutions and has over 450 member companies representing 70 countries. The IIF believes that … [Read more...]

Charging Customers to Listen to Your Sales Pitch?

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How much would your customers pay to listen to your Sales Pitch? Scott Edinger, founder of Edinger Consulting Group, asks an interesting question: would your customers be willing to pay to listen to your sales pitch? At first this sounds crazy, but he’s trying to make an important point. It isn’t enough to say that you are selling a particular product or service at a good price. Everyone does that. To stand out from the competition, you need to provide enough value to potential clients during … [Read more...]