The Department of Veterans Affairs flips government contracting on its head by offering small businesses $5 billion in contracts. The Department of Veterans Affairs is expected to award a $5 billion services contract to small-business prime contractors. In a complete reversal from the norm, the prime contractors selected will be allowed to have a maximum of 150 employees. This will force large companies like Dell and IBM to compete for the right to be subcontractors on the award. The five-year … [Read more...]
Health Insurance Premiums Set for Massive Increase This Year
Obamacare fallout? Heath insurance brokers are preparing their clients for Health Insurance Premiums to increase by as much as 300 percent this fall. Health insurance brokers across the country are starting to prepare their clients for significant increases in health insurance premiums. This includes individual policies, which many small-businesses owners purchase, as well as small business and other group policies. In some cases, premiums may triple. The increases in premiums are a … [Read more...]
Entrepreneurs Bilked in Multimillion-Dollar Fraud
The FTC has filed a complaint against the Tax Club, which has defrauded people trying to start businesses in a Multimillion-Dollar Fraud. The Federal Trade Commission has filed a complaint against the Tax Club, an organization that claims to help people start successful businesses. Offering a package of consulting services and advice, The Tax Club was actually a web of more than 60 companies and legal entities with a single purpose: to defraud entrepreneurs. The Tax Club website is very … [Read more...]
Baby Boomer Retirement: Bad News Gets Even Worse
Every day, 10,000 baby boomers in the U.S. retire. What awaits them is not always pleasant. The Great Recession, a high cost of living and stagnant wages have left this generation completely unprepared for retirement. A 65-year-old couple would need over $280,000 in savings today to have a 90 percent chance of paying for their medical expenses alone during retirement. Yet 30 percent of workers have less than $1,000 and 60 percent have less than $25,000 in savings. Many baby boomers plan to … [Read more...]
Over 100 Billion Dollars Disappears from U.S. Banks in One Week
Over 100 Billion Dollars Disappears from U.S. Banks in One Week from U.S. Banks in One Week from banks during the first week of January. Why? Where did it go? The 25 largest banks in the country had a rather exciting first week of January. According to data released by the Federal Reserve, depositors withdrew an astounding $114.1 billion during the week ending January 9. A significant portion of this withdrawal can be attributed to the expiration of the Transaction Account Guarantee (TAG) … [Read more...]
Unionized Employees Becoming Tiny Minority
New study shows that Unionized Employees make up less than 10 percent of the private sector labor force. According to the Bureau of Labor Statistics, 2012 was yet another year that saw a reduction in the number of unionized workers. Approximately 15.9 million workers were covered by a union contract; 90 percent were members of a union with the balance comprised of workers who are not union members but whose jobs are covered by union contracts. Only 11.3 percent of workers are unionized, … [Read more...]
Don’t Hoard Old Financial Documents
When it comes to storing old financial documents, I’ll admit that I do have a hoarding problem. Despite “knowing better,” I’m hesitant to eliminate even old receipts in case one day I’m subject to an audit and the only thing keeping the IRS from confiscating my business is an $8 gas receipt from 1993. All kidding aside, financial documents do have an expiration date, and it's important to know what they are so you don’t burden your mind (and your office) with mountains of needless … [Read more...]
Venture Capital Industry Grows Into “New Normal”
The Venture Capital Industry raised over $20 billion last year, a sign that the industry is rebounding, albeit with a new structure. 2012 was a spectacular year for fundraising by venture capital firms. According to the National Venture Capital Association (NVCA), firms raised nearly $21 billion, a significant increase over the $13.7 billion raised in 2010. Mark Heesen, president of the NVCA, believes that the industry has reached an optimal size for deploying capital and achieving returns by … [Read more...]
Cheaper Way to Get Mobile Plans?
Haven't heard of MVNOs? The Cheaper Way to Get Mobile Plans. These data and voice communications alternatives could save your small business thousands of dollars a year. Many small-business owners are unhappy with their mobile and traditional communications providers. Most plans offer a limited amount of data and minutes per month, which can lead to hundreds or even thousands of dollars in additional fees for going over the limits. Most companies also require a two-year commitment to a specific … [Read more...]
Free Online Course on Small-Business Growth Explodes
More than 60,000 people have registered for this Free Online Course on how to grow your small business. Businessman, author and University of Virginia professor Edward T. Hess is creating quite a buzz among small-business owners with his new course “Grow to Greatness: Smart Growth for Private Business.” To date, more than 60,000 people have enrolled in his Coursera-powered course. The course is divided into five modules: The truth about growth, which will dispel many popular myths about … [Read more...]
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