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...]
Department of Veterans Affairs Commits $5B to Small Businesses
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...]
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...]
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