New York SBDC Research Network

Percy Caraballo, the son of Cuban immigrant parents, saved pocket change stored in 5-gallon water containers, as seed money to start Cutting Edge Lawn Service and Landscaping. He had one lawn mower and one landscape trailer when he launched his business. Percy’s fleet is valued in excess of $1M today, and comprises 13 trucks, seven trailers, four chippers, and a stump grinder. Cutting Edge provides lawn service, landscaping, tree trimming, tree removal, stump grinding, and snow plowing/removal for regional, municipal, public authorities and commercial accounts. Over the past eight years, Percy has managed his operations without an accident, earning him an award for sustaining a 100% accident-free safety record. He has 28 PT/FT employees providing year-round services. Percy consulted the SBDC for procurement assistance that led to his obtaining MBE Certification. Advisors Vanessa Primus and Cynthia Clune also provided solicitation reviews, helped interpret co...

From BND You hoped it would never happen, but in the back of your mind, you knew it could: Your small business is being sued. Whether it has been filed by an employee, client, vendor or even another business, a lawsuit against your company will likely cost you a lot of money, whether you win or lose. It's normal to feel overwhelmed, upset and indignant, but if you want to keep your business and its reputation intact during this time, it's important to handle every step of the process carefully. Business News Daily spoke with legal, human resources and insurance experts to compile a step-by-step guide to help you through your lawsuit, along with critical mistakes to avoid along the way. Please note that this article does not replace professional legal counsel, and if your business is being sued, we urge you to consult an attorney before taking any action.

From SAS So you’ve decided to open up a business, but like most people just starting out, your budget is probably lacking. Some startups may require a sizable investment to move forward, while others can get away with a smaller budget. But with everything from letterhead to office space to utilities, how can you determine what kind of capital you’ll need to get going? And what should you spend it on? According to the Small Business Administration, you will have two types of costs: fixed and variable. Fixed expenses are those that recur at around the same amount, usually every month, e.g. rent and insurance. Variable expenses, like commissions, shipping and inventory, are related to the sale of a product or service and will differ each month depending on your sales. Then you’ll have one-time costs such as web design or signage. The SBA recommends creating a spreadsheet to help you calculate your startup costs, and be sure to note what is absolutely necessary, and what can be put on ...

From the Bureau of Labor Statistics : In July 2016, 15 states had statistically significant over-the-month increases in nonfarm payroll employment in July 2016. The largest job gains occurred in New York (+37,500), California (+36,400), and Florida (+28,100). In percentage terms, the largest increases occurred in North Dakota and Vermont (+1.0 percent each), followed by Maine (+0.7 percent). The only significant decrease in employment over the month occurred in Kansas (-5,600, or -0.4 percent). In July, 36 states had statistically significant over-the-year changes in nonfarm payroll employment, 34 of which were increases. The largest job gains occurred in California (+374,600), Florida (+250,200), and Texas (+173,000). The largest percentage gain occurred in Idaho (+3.4 percent), followed by Oregon (+3.3 percent) and Florida and Utah (+3.1 percent each). Two states had significant over-the-year declines in employment: North Dakota (-9,900, or -2.2 percent) and Wyoming (-9,800, or -...

From Ondeck The back-to-school season is a big one: according to the National Retail Federation, it will reach around $68 billion this year. Even if you don’t sell pencils, it’s tempting to want to grab a piece of the pie. But is it worth your small business marketing dollars to try to win some of these back-to-school shoppers? The back-to-school season starts early, with at least 25% of K-12 parents saying they begin researching and shopping by early July. Parents of K-12 and college-bound kids will spend between $600 and $900 per student, on average. However, despite the dollars flying around, on everything from notebooks to clothes, electronics, dorm furnishings, and convenience items, there’s a downward trend in the back-to-school season. There are fewer shoppers predicted this year, and most families will be spending less per student than last year. It’s still a huge shopping season, but small business owners need to remember what these shoppers want most: the lowest possib...

The leaders of the U.S. Small Business Administration (SBA), W.K. Kellogg Foundation (WKKF) and microlender Justine PETERSEN  announced this week the formation of the Aspire Entrepreneurship Initiative, a groundbreaking new $2.1 million partnership to expand access to entrepreneurial education and microloans for formerly incarcerated individuals, with a specific focus on those who are parents. Initial rollout for the initiative is planned for Detroit, MI, Chicago, IL, Louisville, KY and St. Louis, MO.    “Entrepreneurship and small business ownership are proven paths toward wealth creation and financial independence especially for people who might otherwise feel trapped by their circumstances”

After operating a childcare business for more than a decade, Sabrina Samuel decided to open another business that would complement the services offered at her daycare center. Her vision was that of an in-door play-space in which children could play in a safe environment, expand their motor and social skills, and which would foster their cognitive development. Sabrina's Play Studio is a 1,900-square-foot play space designed for kids from infants up to age 9. The well-organized facility looks like a giant rec room and is divided into areas for different age groups. When Sabrina was planning the new business, she consulted the SBDC about start-up costs, financing and sources of capital. She got a loan from TD Bank and vendor equipment financing, and also contributed equity to launch her new business. Today, Sabrina’s Play Studio is in much demand. In addition to standard play time, the center offers after-school programming, summer camp, birthday parties, ch...