It's official--the United States Postal service will eliminate Saturday delivery. After much speculation, it's finally official—the USPS will no longer offer first class mail delivery on Saturdays beginning in August. This impacts letters, envelopes and small packages weighing up to 13 ounces. This step is part of their fight for survival, which includes reducing costs and eliminating unprofitable services. The USPS expects this decision to save approximately $2 billion per year. The USPS will … [Read more...]
Zero Down Mortgages Making a Comeback with Small-Business Owners
They're back! Successful small-business owners can once again tap into the Zero Down Mortgages. Zero money down mortgages are making a comeback. These mortgages don’t require any down payment and provide for 100 percent bank financing for the purchase of a home. But unlike last time, when these helped usher in the greatest financial collapse in a century, the new zero money down mortgages are being reserved for people with significant assets and income. Banks offering these mortgages require … [Read more...]
Navy Awards $250 Million Contract to Small Businesses
Thirteen small businesses win Navy contract worth up to $250 million. Another Federal government agency has taken the important step of awarding a significant contract to small businesses. The Department of the Navy awarded 13 small businesses with a contract worth nearly $50 million for 2013 with options to renew through 2018. If they exercise all renewals then the contract is worth a quarter of a billion dollars. The contract is for delivery of various support services including research, … [Read more...]
New Way to Change Government Regulations
New website gives small-business owners a chance to shape regulations before they are finalized. Complying with government regulations is no easy task for small-business owners. You have to familiarize yourself with each new regulation, determine what elements of your operations are affected, prepare a plan to comply and document your compliance. Failure to do so can lead to potential fines, penalties or even legal action. Before a regulation goes into effect, there's usually an opportunity … [Read more...]
Failure: The Secret to Success
New study shows that failing at business actually helps your chances of future success. Failure: The Secret to Success As business owners, we're all very aware that the odds are against long-term success. But having a business fail doesn’t condemn you to a life of unrealized dreams. New research shows that previous failures in entrepreneurship improve the odds of success for future ventures. Yonkwook Paik, a fellow at the Kauffman Foundation, recently completed a study for his PhD at … [Read more...]
How Founder of Chobani Earned Billions in 5 Years
Hamdi Ulukaya, Founder of Chobani became a billionaire in five years by making great yogurt and using innovative marketing. “Only in America” can a Turkish dairy farmer come to learn English, start a small business with borrowed money and become a billionaire in five years while beating the pants off of Fortune 500, writes Bryan Gruley of Bloomberg Businessweek. That’s the life story of Hamdi Ulukaya, founder and sole owner of Chobani, maker of Greek yogurt. Ulukaya’s path to … [Read more...]
Employment is Up, Revenues Down at Small Businesses
Good news and bad news: small-business employment is up, revenues are down and one industry continues to grow in spite of it all. Using aggregate data from Quickbooks online and online payroll processing, software maker Intuit can provide a broad snapshot into small-business performance. The results are in from the latest Intuit Small Business Revenue and Employment Indexes based on this data. Revenues at small business decreased 0.4 percent on average in December compared to the previous … [Read more...]
Want Access to Government? Hire a Lobbyist for $5,000 a Month
Hire a Lobbyist for $5,000 a Month. Small businesses are banding together to offset the cost of hiring a Lobbyist. Government agencies at the local, state and federal levels are playing a more significant role in today’s economy. Total government spending represents roughly 40 percent of our economy, the highest percentage during the last century (except for WWII). Add to this increasing government regulations and it's clear that small-business owners to an intimate relationship with their … [Read more...]
The Employees Strike Back: What to Do When Fired Workers Retaliate
What to Do When Fired Workers Retaliate?. Former employees can make life very expensive for business owners if the right protections aren't in place. One of the most difficult aspects of being a small-business owner is having to fire or lay off employees. Even if it doesn’t come as a surprise, it's still shocking, and more so in a job market where it can take well over a year to find a new job. It's difficult to know how someone will react when learning they're out of work. Some former … [Read more...]
2013 Taxes: Changes That Will Affect Small Businesses Most
Here's what you need to know about the significant changes taking place in 2013 Taxes law. The fiscal cliff deal had two major results: First, it raised taxes on virtually everyone that earns money; second, it failed to fix the underlying budget deficit problem, leading to further “cliff-like” standoffs in the near future. Both of these results will have a direct, financial impact on business owners. While much has been written about the deal, some important details haven’t been covered that … [Read more...]
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