New York SBDC Research Network

Obtained from:   Pix11 With all the talk about the new federal tax law that went into effect in January, it’s easy to forget about the old one. But it’s the old tax code that governs the deductions, credits and other measures you can use to save money on your 2017 tax return due in April. In fact, it may be your last chance to use some of them since the new law eliminated many. [In the linked article] are 11 deductions and other tax-trimming measures you shouldn’t overlook:

] Census Bureau Economic Surveys are a key source for official statistics companies can use: Monthly and Quarterly are small sample surveys that provide the most TIMELY data available Annual surveys have larger samples and provide the most up-to-date TREND data available Every 5 years, the Economic Census measures all businesses and provides the most COMPREHENSIVE data available - Economic Census: Meet James (video) The form for the Economic Census 2017 is coming this spring electronically These surveys set the standard for U.S. economic statistics, and are fueled by the data provided by individual businesses

From the Wall Street Journal : The Trump administration on Monday urged the Supreme Court to expand states’ authority to collect sales tax on internet transactions, joining a chorus of state officials seeking to overrule a 1992 precedent exempting many online retailers from having to add taxes to a consumer’s final price. In 1992, the justices “did not and could not anticipate the development of modern e-commerce,” Solicitor General Noel Francisco wrote in a friend-of the-court brief. “In light of internet retailers’ pervasive and continuous virtual presence in the states where their websites are accessible, the states have ample authority to require those retailers to collect state sales taxes owed by their customers.” South Dakota is leading a charge to overrule 1992 case, Quill Corp. v. North Dakota, with arguments scheduled next month. Some 35 states and the District of Columbia, as well as organizations representing retailers from booksellers to shopping malls, have filed br

Each year the  New York Small Business Development Center  recognizes outstanding small businesses in a variety of ways.  This Success Story from the   Rockland SBDC  appears in our  2016 Annual Report .  Gloria Lovece   Infrastructure Unlimited, Inc. Rockland SBDC Gloria Lovece is President of Infrastructure Unlimited Inc., the construction company, she started with her two brothers. The company specializes in the installation and remediation of public infrastructure - notably bridges, railroads and power lines. Her company is a certified Disadvantaged Business Enterprise (DBE) in NY and NJ with certification pending in Ohio.  In a male dominated industry, she has worked very hard to overcome many obstacles, including the hydrocephalus that took her father. In addition to taking her father’s life, the disease caused the decline and eventual closure of the family’s construction business and all who worked there lost their jobs - Gloria and her brothers included. Rather than

From America's SBDC : SBDC Day is a national, collective proclamation of the success and the impact America’s Small Business Development Centers (SBDCs) have across the nation in economic development and the small businesses community. America’s SBDC Day will take place on Wednesday, March 21, 2018. SBDC Day will unite the nearly 1,000 SBDC centers across the country and the hundreds of thousands of clients they serve by sharing, in real time, the success stories and notable impacts SBDCs collectively have on the small business community at large. This special day will be celebrated with social media campaigns, public relations initiatives, online and in-person events and more. To learn more about what your local SBDC is doing to celebrate, click on Find your local SBDC . America's SBDC has developed a national SBDC Day Ambassador program , so that all of America's SBDC partners, supporters and stakeholders can collectively show their support for SBDC Day. All nationa

From Lendedu : Being a female entrepreneur can come with its challenges. On top of building a business, many women business owners juggle numerous responsibilities like family or caregiving commitments. For these reasons, running a business as a woman can feel sometimes like you’re Ginger Rogers, who famously said that she had to do everything Fred Astaire did – except backwards and in heels. Fortunately, some organizations have realized the added difficulties women entrepreneurs can face in finding funding and have set up grants and investment opportunities specifically for female business owners. There are also several traditional funding opportunities you can access. This guide can help you navigate the different types of programs that want to give you money to help you grow your business.

From the Huffington Post A group of investors led by Maria Contreras-Sweet, who ran the Small Business Administration under President Barack Obama, reached a deal to buy The Weinstein Company, New York Attorney General Eric Schneiderman confirmed. “Our office will support a deal that ensures victims will be adequately compensated, employees will be protected moving forward, and those who were responsible for misconduct at TWC will not be unjustly rewarded,” Schneidermann said in a statement. Contreras-Sweet and her backers, including billionaire investor Ronald Burkle, bid $500 million on the film production company, which included assuming $225 million worth of debt, according to Variety. The deal, which Schneiderman said was reached Thursday, also features an $80-million compensation fund for victims of Weinstein’s harassment and abuse... Contreras-Sweet, a Hollywood outsider and Mexican-American immigrant, reportedly plans to keep the studio’s employees, projects and assets

Obtained from: MarketingProfs Welcome to 2018, the year you need to update your website's look and functionality for two business-critical reasons:  legal compliance   and   user respect and trust. The latter is probably long overdue and has been hindering conversions; the former, a long time coming, is looking to become an immediate concern. The problem? Businesses that set up a website many years ago and have done few, if any, modifications since. They may have updated to integrate new forms of payment or to manage inventory in a more timely manner, but that's usually the extent of it. If that describes your business, then your site is doing a disservice to your business and your customers—and, potentially, your bottom line, because they are non-compliant at a time of looming enforcement of standards and legislation. * * * These are all but the tip of the iceberg of changes that are coming to Web design in the very near future. Voice-command integration, engaging micro

From PBS : Since President Donald Trump signed the American Tax Cuts and Jobs Act in December, large corporations have made headlines by giving bonuses to employees and raising wages. But much less attention has been paid to small businesses, even though experts believe they stand to benefit significantly from the new tax law... Three main changes to the tax law will likely help small businesses...: lower individual tax rates, an additional 20 percent deduction for companies filing as pass-through entities, and an expansion of Section 179 filing, which allows for expensing of business-related equipment. Of course, not all aspects of the tax law will be advantageous to small businesses. For example, the law’s elimination of many deductions — including for certain business expenses like travel costs and membership dues for professional organizations — may incentivize employees to work for larger companies that can afford to absorb those costs.

Each year the  New York Small Business Development Center  recognizes outstanding small businesses in a variety of ways.  This Success Story from the   Manhattan SBDC  appears in our  2016 Annual Report . Jessica Schreiber   FABSCRAP Manhattan SBDC FABSCRAP, a 501(c)3, was founded by Jessica Schreiber, a self-described “trash nerd” who previously managed the NYC Department of Sanitation’s e-waste and clothing recycling contracts, and earned a Master’s degree in Climate and Society from Columbia University. Jessica recognized that fabric and other textiles made up a significant percentage of the waste stream. She developed a business model through which FABSCRAP charges a modest service charge to cover operational costs associated with picking up the textile waste and redistributing it for reuse. Jessica sought advice from the SBDC about how to grow as well and how to monetize the environmental, financial and public relations benefits her small business offers, as well as what

Obtained from:   MarketingProfs  IT buyers tend to research products/services across a wide range of online channels, prefer to be contacted by vendors via email, and favor firms with excellent customer support, according to recent research from Spiceworks.  The top factors that drive whether IT buyers will respond to a new sales/marketing outreach effort are the relevance of the product/service and the inclusion of detailed pricing information in the message. IT buyers say the top factors that drive their brand loyalty to vendors are great customer support, consistently fair pricing, and a history of reliable products/services.

Obtained from: eMarketer It’s been called a fad, a bubble, a waste of money. But influencer marketing will remain immensely popular in 2018, and it’s important to put the discussion of disclosure in the context of just how important the tactic has become—not just for the usual suspects (marketers of fashion, beauty and gaming products) but increasingly for marketers in other categories. Marketers and influencers that don’t disclose put themselves at risk for Federal Trade Commission (FTC) scrutiny and consumer backlash, both of which are rising.

Obtained from: SBA U.S Small Business Administration Administrator Linda McMahon announced the appointment of Steve Bulger as the SBA Regional Administrator for Region II, the area that encompasses New York, New Jersey, Puerto Rico and the U.S. Virgin Islands.   According to McMahon, Bulger will be responsible for managing and overseeing the agency’s lending, economic development and procurement programs over five district and six branch offices. Combined, these offices total 64 employees and assist nearly 3 million small businesses employing over 6 million workers in Region II. SBA has 10 regions covering the United States and U.S. territories. These offices, which are managed by politically appointed administrators, play a part in supervising the 68 district offices and promoting the President’s and SBA Administrator’s policies, messages and priorities throughout the region. “I am very pleased that Steve is in place to help support me and the President in serving

From eMarketer : Using location data has helped many retailers target their marketing and advertising more precisely to better reach consumers. But new data finds there are several inhibitors keeping US retailers from taking advantage of location-based analytics. The study, from Retail Systems Research (RSR), found that roughly half (47%) of retailers surveyed said concerns about the "creepiness" factor in tracking consumers was one of the top barriers to using location-based analytics. And there's also the issue of privacy.

From eMarketer : Consumers across the globe are warming up to proximity mobile payments. In 2018, for the first time, more than one-third (34.9%) of smartphone users ages 14 and older will use a mobile phone to pay for a purchase at a physical point of sale (POS) at least once every six months... Overall, most proximity mobile payment user growth worldwide will be driven by the expansion of the big three global providers—Android Pay, Apple Pay and Samsung Pay—as well as Alipay and WeChat Pay. Growing retailer acceptance of mobile payments and spreading smartphone usage will also fuel growth.