Small Business

In light of the recession scare and the housing crisis and the high unemployment rates, many entrepreneurial types are choosing to venture out on their own to provide security for their family by setting up their own business. There are more new businesses being established than ever before but honestly the task is not one everybody is able to handle successfully. There are some serious considerations to make before delving into the world of business. Here are 8 considerations to make before starting your own business: 1. Do You Have the Time? A self-employed individual likely spends much longer, more …

8 Things to Consider When Starting a Business Read More »

Are you a baby boomer that has considered starting your own business?  Maybe you have the aspirations of being the Harland Sanders who took his $105 social security check and a family chicken recipe and launched a little restaurant chain known as Kentucky Fried Chicken.  Ever heard of it?  The “Colonel” was unique in his time, but in today’s world; baby boomers becoming business owners is becoming more the norm. The Need For More After Retirement In a survey done by AARP, 80% of baby boomers want to work in retirement at least part time.  In addition, many of those …

Baby Boomer-preneur: Starting Your Own Business After Retirement Read More »

If you own a business, no matter how big or small, it is a good idea to have a business checking account. Having a business checking account that is separate from a personal checking account just makes more financial sense for business owners. It is easy to open a business checking account, and it can even be done online. Benefits of Business Checking There are many benefits to having a business checking account. Some of these advantages include: There are tax advantages to having a business checking account. Business account fees are tax deductible while fees from personal accounts are …

Should You Open a Business Checking Account Online Read More »

In the past, when the working class entered retirement their working days were done.  It was time to hang the hat and begin the life of a retiree.  With the nations 75 million baby boomer generation, it’s bit of a different story.  After retirement, they are seeking a new challenge.  Typically, they want to continue on with 1. Held relatively high positions in the corporate or business world Many boomers could no longer take their current work environment and are looking for a change.  Others were downsized or let go after a merger or sale.  But it’s that real world …

Four Characteristics of Baby Boomer Business Owners Read More »

Some small businesses and entrepreneurs may want to expand their business soon. But they might not realize how vital human resources will be to handling this process. They will undoubtedly need to hire new staff to help handle the additional workload. More staff will mean that more people will need to be managed. There are a lot of issues that will come up, so it will be helpful to have a human resources strategy. There are actually many different ways to cover this for your small business. If you are an owner and want help with human resources, read through …

How to Handle Human Resources for a Small Business Read More »

Will health care reform mean headaches, increased costs, and penalties … or hidden dividends? What do the federal health care reforms mean for your company?  Will it mean increased costs or savings in years to come? … or …  Will it lead to thousands of dollars in extra costs and more paperwork?  Will federal subsidies make this a “game changer” for small companies that have struggled to provide insurance plans and actually improve the coverages for their employees and also offer a savings? …  or … Will it just drive them to pay penalties and  just let their employees purchase …

How Will Obamacare Affect Your Small Business? Read More »

No matter the size of the business, there is always room for improvement. Even for small businesses, while the business itself may only be a local business or a niche business, you can always work to make your business better. Not only for the sake of your customers but to make the business flourish and remain fresh and new. It isn’t easy for small business to compete with the variety of other small businesses and other larger businesses. That is why it is necessary for small businesses to always be improving so they can continue to stay afloat. Set Higher Goals- …

Tips to Improve your Small Business Read More »

Individual retirement accounts (IRAs) are a popular method of saving for your golden years.  When you mention IRAs, most people immediately think of either the traditional IRA or Roth IRA which are the two most recognizable types of individual retirement accounts.  What many people may not realize is that there are other types of IRAs that may be available and more appropriate for your situation.  One of these “other” types of IRAs include the SIMPLE IRA which we will discuss in further detail here. What is a SIMPLE IRA? A SIMPLE IRA plan is best described as a close relative …

Simple IRA Rules For the Small Business Owner Read More »