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...]
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...]
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...]
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