New York SBDC Research Network

From People's United Bank : Your business is growing, but not as quickly as it could and you know it. You need capital to fuel expansion - to move into new markets, hire more staff, increase service and product offerings and grow more profitable with ever-expanding margins. Instead of borrowing expansion capital, maybe it's time to consider going public - selling ownership shares of your business to the public. But going public isn't as easy as simply offering stock to outside investors. Your business needs a solid track record of profitability, increasing revenues and reasonable margins in a healthy, growing industry or market sector. Investors want to see a strong management team, a vibrant corporate culture, a sound business infrastructure and growth potential. Lots of growth potential!   From Investopedia : An initial public offering (IPO) is the first sale of stock by a company. Small companies looking to further the growth of their company often use an

From wikiHow : Corporate bonds are a financial tool that a corporation uses to raise funding. They are an alternative to acquiring loans from a bank or issuing shares of stock. Corporations use the money from bond sales to finance a variety of improvements, like business growth, new factories, or new equipment. When an investor buys a corporate bond, he is essentially buying an IOU from the corporation that is to be paid back after a pre-determined time (the maturity date). The bond will also typically pay coupon payments, which are interest-based payments made to the bondholder at regular intervals (usually semi-annually). Corporations usually enlist the help of investment banks, which function as underwriters, to organize the creation, marketing, and sale of the bonds.   From Chron , which also tells you how to issue bonds : Issuing bonds lets your corporation remain privately owned while you raise money to grow your business. You can sidestep most Securities and Exchan

From Go Digital : Consumer interest in the “sharing economy,” a popular term that’s been loosely defined as an economic ecosystem built around the sharing (renting) of assets, is exploding. Along with consumers, an increasing number of rising companies and small business owners are finding that they, too, can benefit from collaborative consumption. From big-name companies, such as Airbnb and Uber, to smaller marketplaces like DogVacay, Getaround, and LiquidSpace, businesses increasing in popularity and local merchants are exploring new ways to get in on the action.   According to a 2014 report by Nielsen, the consumer peer-to-peer rental market is now worth an estimated $26 billion. Sixty-eight percent of global consumers say they’re willing to share their own assets, and 66 percent say they’re willing to seek shares from others. Businesses are generating extra revenue by renting their own unused assets to consumers, and many are working with other merchants. By taking adv

From The Balance : If you are looking for a small business idea to kickstart your path to entrepreneurship, you are in the right place. This list of 101 small business ideas includes everything from personal services, to retail opportunities, to environmental services, to pet-related ideas, to technology businesses. Use this list to identify the business idea that is perfect for your situation. It's time to take the next step, and evaluate the business ideas that made it to the top of your list. Doing this research at the beginning of the process is vital to avoid wasting time and money on a business idea that flops.

On a business listserv, one librarian pointed out a good resource for global corporate tax rates, 2006 - current , a website called Trading Economics. But the page is great for so much more: There are real time currency and stock market data for all over the world. Plus it has data on several topics. For instance- Labor: Employed Persons, Job Vacancies, Minimum Wages, Payrolls, Population, Productivity, Retirement Age, Unemployment Rate, Wages Prices: Consumer Price Index, Export Prices, Inflation Rate, Producer Prices Also several other categories, including Markets, GDP, Money, Trade, Government, Business, Consumer, Housing, Taxes If you are involved in international trade or just want info for markets across the world, check out Trading Economics

From LinkedIn "I'll be online later," you say, grabbing your laptop as you head out the door. "Please don't," say a growing number of CEOs who are radically rethinking the modern workday. Prompted by Millennials who value work-life balance, an increasingly global workforce spanning time zones, and devices that allow us to connect anywhere, anytime, these CEOs recognize the value of redesigning business to accommodate life, and not the other way around... In a world that is always on, when does work stop? In one corner is the argument for flexible hours, the darling of the tech set. When executed well, this approach allows staff to work when they work best while navigating life events that don’t naturally fall before 9 a.m. or 6 p.m. However, probe a bit further and many employees admit that flexible hours often mean "always working," with little or no ability to shut off. In the other corner is the 9-to-5 (or 6...or 7...) model, which can

From BizWomen : When Heatherjean MacNeil launched her fashion startup, Proxy Apparel, several years ago, she applied to a prominent accelerator program. Two years in a row, she was accepted as a finalist. And two years in a row, she found herself pitching her business to the same room of older white men. The men had money to give, which was good. But there were misunderstandings about market opportunity, the vision behind the potential consumer demand and avenues for growth. “I think that [more broadly] represents the fact that, particularly in investment circles, there’s such a strong absence of women, so you feel as if you’re the other,” MacNeil told me recently. “And I think it’s harder to understand how to build relationship capital in that context.” Now, she’s part of a team of women working to create an alternate experience for other female entrepreneurs. MacNeil co-founded with Susan Duffy and Sharon Kan the Babson College Women Innovating Now Lab— or WIN Lab — an eigh

The New York Small Business Development Center (SBDC) is pleased to announce Christina Loggia , Business Advisor with the Farmingdale State College SBDC, has been awarded the 2016 State Star for New York. The State Star designation recognizes outstanding achievement in high-quality business counseling and distinguished, long-term service in terms of economic development. Loggia was recently honored during the America’s SBDC Annual Conference in Orlando. Loggia joined the SBDC in 2013 as an advisor helping Hurricane Sandy victims with NY Rising grant applications, and in 2015 started counseling non-disaster clients. To date, she has assisted more than 300 small business owners and entrepreneurs and has succeeded in helping them obtain more than $6.8 million dollars in small business grants and or loans. Loggia brings more than 30 years of business experience in the areas of retail, purchasing, human resources, marketing and education to the small business community.

The '8 Great' Tips For Marketing In A Category That Hasn't Existed Before   OCT 5, 2016 @ 05:12 PM   Each of these companies have shared the same hurdle  —  how do you market a solution people don't know exists to a problem they don't yet realize they have? "Walleye Dawn" Photo courtesy of Steve Wall on Flickr:   https://flic.kr/p/6Vvgqw  Some rights reserved. Forbes' Cheryl Conner writes about a problem we see from time to time  — being a field that does not have a marketing rule book.   For most businesses buying an ad and waiting for customers to rush the door is not enough, especially so for those categories that require a little explanation. We can bandy "social media" around as being the tools to gain new customers but business owners need to be able to speak about the problems their product or service solves. The new avenues need content and the content is expertise and storytelling. Most of the methods described in

From Bplans : The transition from the corporate world to entrepreneurship is jarring for anyone who takes the leap. The work, structure, and indicators of success are different in many ways. Things you became adept at while working at a company—like keeping your boss happy and navigating office politics—lose their utility when you’re on your own. It was an exciting environment with a steep learning curve. However, having grown up in a family of small business owners, the pull of entrepreneurship strengthened as I grew older. After several years in the corporate world, I realized it was never going to get easier to make the switch. Leveraging our financial skill sets, my partner and I started a tech-enabled factoring company that helps innovative B2B businesses and startups fund their working capital. The transition from a white-shoe Wall Street firm to the near absolute freedom of entrepreneurship required enormous adjustments in all aspects of my life.

From ConsumerAffairs : Many people log in to multiple online accounts every day, including financial, email and social media accounts. Having strong passwords for each websites helps protect consumers from identity thieves. A strong password is complex, long and unique, and, therefore, can be hard to create and/or remember. Password managers generate and securely store passwords so that consumers don’t have to remember them, but different ones offer slightly different services and levels of protection. Consumers who understand these features can choose one to meet their security needs. Link goes to: Top 10 Best Rated Password Managers What features matter most? What are different types of password managers?

From the Business Journals : The Supreme Court of the United States begins its 2016 term Monday. Virtually by definition, cases that reach the land's highest court are historic in nature, but there are plenty of prominent and divisive cases to go around this term. The session will be further complicated by the court still being down a member after the death of Justice Antonin Scalia in February. If the court splits 4-4 on a ruling, the lower court's ruling effectively stands. Here are some of the key business cases before the court this term — with what's in dispute and what's at stake. Samsung Electronics v. Apple Inc...

From Bplans : It seems you can’t talk about business anymore without talking about disruption. What everybody can agree on is that the rate of change seen throughout almost every industry, due to new technologies and advanced rates at which ideas spread, is steadily increasing, and shows no signs of slowing down. The good news for small businesses and startups is that they shouldn’t be worried. In fact, they should be excited! Being small enough, and in the case of startups, fresh enough to take innovative leaps and try out radical new methods and ideas is why these organizations are the ones that drive disruption. Enterprise level businesses and other large organizations are taking notes, trying to learn from small businesses how best not only to respond to disruption but to instigate it themselves. For small businesses, this is great. Even if they’re not the ones driving change, they’re small and agile enough to adapt to it. For aspiring startups, this is even better. Establi

From Bplans : An early question among potential co-founders during discussions about commitment was always “have you raised money yet?” as if it’s a requirement of doing a tech startup. It seems like a common trend with first-time tech entrepreneurs—and even some more experienced entrepreneurs—to think of fundraising as a required step in the process of starting a technology company. They read articles on TechCrunch about how startups are raising huge, early rounds of funding from VCs, then begin putting together pitch decks and attempt to seek out funding for their own startup. However, if you look at the history of today’s biggest tech companies, nearly all of them started without raising outside funds. Facebook, Apple, and Microsoft all started in garages or dorms, and didn’t raise money until later on when they were ready to scale up operations. In fact, many companies are successful without ever raising outside money, including PlentyofFish, Balsamiq Mockups, and Shutterstoc

One may be barred from working in a job that is related to a criminal conviction. Understanding which jobs you can and cannot be hired for has been difficult for employer and potential employee. As this article from Minnesota states: The American Bar Association created the Collateral Consequences website to show how different types of criminal convictions affect employment and other resources. The rules about barred occupations and work restrictions are complicated. The collateral consequences of a criminal conviction—legal sanctions and restrictions imposed upon people because of their criminal record—are hard to find and harder to understand. Now it will be easier to do both. Congress directed the National Institute of Justice to collect and study collateral consequences in all U.S. jurisdictions, and NIJ selected the ABA Criminal Justice Section to perform the necessary research and analysis. The results are now being made available through this interactive tool. It has

From MarketProfs : Public relations is sometimes referred to as the "persuasion business," and that nickname says it all. PR campaigns are largely about convincing an audience that something (such as an event, a person, a company, or a transaction) is important and supporting that claim with clear reasons. However, it may be time for the PR industry to start campaigning on its own behalf. Global industry growth slowed to 5% in 2015 marking a significant downshift from its double-digit growth just two years prior. Meanwhile, spending on PR information and software is going up, reaching $2.9B in 2015—a 5.5% increase over 2014. The diverging dynamics show that in 2016 and beyond, PR needs to be a business of technologically powered proof—not just persuasion. For the PR industry to grow and thrive, it needs to prove its direct value in the most tangible ways possible. Amid the ever-evolving digital media landscape, the following best-practices will be integral to prov

By  Carmel Martin  and  Angela Hanks   Apprenticeships, paid training programs that combine on-the-job training and classroom instruction, are an effective yet underused strategy for training workers for in-demand jobs. In 2014, in an effort to increase the use of apprenticeship as a pathway to middle-class employment, President Obama set a national goal to double the number of U.S. apprenticeships within five years. Since then, the Department of Labor has made unprecedented investments to support the development and expansion of new and existing apprenticeship programs, announcing or awarding $265 million in funding, thanks, in part, to a historic, bipartisan agreement made by Congress and based on the president’s 2016 budget. As part of that initiative, the Department of Labor is  awarding 14 contracts  to industry and workforce intermediaries to advance two major goals for expanding apprenticeship programs in the United States: *expanding apprenticeships in new industr

From the American Institute for Economic Research Politicians love to talk about small business, but often use the topic for a quick photo op and feel-good story about the economy. However, both major presidential candidates are proposing policies that are highly relevant to small business owners. Hillary Clinton focuses on “leveling the playing field” between small and large businesses, while Donald Trump advocates policies intended to help businesses regardless of size. A comparison of these proposals highlights an interesting question: How differently should the government treat small and large businesses? Clinton’s website has a page dedicated to small business, including those photo ops, but also a sizable list of policy proposals. Virtually all of the proposals focus on the premise that small businesses face greater or different challenges related to taxation, financing and regulation than their large counterparts. Perhaps the proposal of Clinton’s that could have the most

The U.S. House of Representatives passed the Improving Small Business Cyber Security Act of 2016 this week, to help small businesses protect themselves from cyberattacks. A companion bill is still working its way through the Senate. The bill, sponsored by Rep. Richard Hanna (R-NY), Chairman of the House Small Business Committee was approved by voice vote on a bipartisan basis. Here are the main nuggets from that press release : American small businesses are under cyberattack like never before. By one estimate, 71 percent of cyberattacks occurred in businesses with fewer than 100 employees. With America’s 28 million small businesses making up 54 percent of annual sales in the U.S., the frequency of such attacks and the high costs they create for small businesses could have ripple effects throughout our economy. Small businesses are often not prepared to prevent cyberattacks or easily recover from the damages of successful intrusions. A report by Internet security firm McAfe

From Bplans Almost every business has some form of insurance to protect it from fires, lawsuits, and vandalism—things that are 100 percent not boring. In fact, the first business insurance policies came from Lloyd’s of London, which used to be a coffee shop where sailors and merchants gathered. It was a perfect storm: Lloyd’s picked up on how dangerous sailing was and that merchants wanted insurance in case their sailors were thrown overboard, goods were lost at seas, or pirates did pirate-y things. This little coffee shop starting selling marine insurance and soon enough, it became the nexus of the insurance world. Three hundred years later, it still is. If you’re a small-business owner, chances are you don’t need pirate insurance. If you do, heaven help you. For most business owners, there are four non-pirate kinds of insurance that cover most major exposures.

From nectjobs : Screening for the right person for the job is always a challenge. You need someone not only qualified but with a passion for the work and a desire to serve. You do not always have the luxury of multiple interviews, following up with past employers, calling all character references, or reading through multi-page resumes to help you find the right candidate for the open position. What follows are 50 quick, easy-to-use, and immediately applied interview questions. These questions will help you to decide quickly whether the candidate you are interviewing is the right fit or not. Each question has been filtered through a vast array of human resources scenarios to determine if any are “questionable” or “offensive” based on current HR laws, regulations, and interviewing rules, (e.g., discriminatory questions based on violations of ADA, Title VI, etc.), and each one has passed the test in the US at the time of this writing.

The  Business Dynamics Statistics  provide annual statistics on establishments, firm startups, and job creation and loss from 1976 to 2014 by firm size, firm age, industrial sector, state and metropolitan statistical area. These statistics provide snapshots of current and historical U.S. entrepreneurial activity, plus geographic and industry detail about where jobs are being created and lost in the U.S. economy. Data tables are available by  firm characteristics  and  establishment characteristics , as well as through the  application programming interface .

If you are a small business siuccess, submit your nomination today for the 2017 National Small Business Week Awards. All nominations must be mailed or hand delivered to the nearest SBA Office no later than 3:00 PM ET on January 10, 2017. Consult the Awards Guidelines for a list of National Small Business Week Awards, eligibility criteria, selection process, evaluation criteria and how to submit a nomination package. National Small Business Week has served as our nation’s salute to small business owners. That’s more than 50 years of celebrating small business owners who create two out of every three new jobs for Americans. Many household names were previous National Small Business Week award winners, including Ben and Jerry’s, Calloway Golf, Chobani, Dogfish Head, Stoneyfield Farm, Pacifica and Tom’s of Maine. And in recognizing the changing face of America, the SBA’s National Small Business Week awards honor individuals and businesses that reflect our nation’s rich diversity. All n

By  Marco Carbajo , Guest Blogger For every business, the cash flowing into a company is essential for covering the day to day expenses necessary to operate a business. It keeps lights on and doors open; cash flow is truly the life blood of a business. Unfortunately, it’s not uncommon that companies of all shapes and sizes have to slow business growth due to lack of cash flow needed for expansion. To combat this, a business owner may increase the amount of cash coming in by generating more sales and converting those sales into cash as soon as possible. Another way is to conserve the company’s cash flow. While there are many ways to conserve cash flow such as cutting costs, bartering, re-negotiating with creditors, and cutting inventory; one method in particular is through Net 30 accounts. By asking for  credit terms from your suppliers  you enable your business to hold onto cash for a longer period of time. You can obtain products and services your business needs and defer the payment

From MarketingProfs : Marketing is impatient. We want more leads, more brand recognition, more social shares. We want a fatter pipeline, fuller funnel, more ideas, and (often) more credit. And we want it now. Yet, ironically, the companies that will have the biggest marketing wins this fall won't get there by going faster. Instead, they will get there by... wait for it... slowing down. In our fast-paced, always-on, agile, want-it-yesterday, mile-a-minute world... there is a critical need to slow down. Why? Because doing so allows you to achieve real results—faster. Or, rather, we need to identify those key moments when we need to slow down, because doing so allows the business to grow faster. (And better. And with more integrity.) We need to invite slow to fuel fast. Wasn't Ben Franklin spot-on when he said, "Remember that time is money"? Doesn't wisdom hold that when you slow down, you're roadkill? Nope. The opposite is true. Although th

Heidelberg Bread makes unique products free of preservatives and packaged with old world charm – artisan breads, rolls, baguettes, pastries, muffins, and scones. It’s a local business whose ingredients are sourced from area farmers and other businesses. The business employs local people whose money stays in the community, and the company supports charities such as Compassion Coalition whose mission is to distribute food to emergency food providers. When Boyd Bissell started the company in 1983, he was going against the grain, where the norm in the bakery marketplace was bleached flour and shelf-life extending preservatives. His vision was mass-manufactured artisan bread products with locally sourced, all-natural ingredients and no preservatives. Today customer demand is outpacing the bakery’s capacity, so Boyd consulted the SBDC for assistance with financing to build a new state-of-the-art manufacturing facility. The building expansion project of $5.7

A wealth of services are available to entrepreneurial-minded students at the State University of New York. Those in scientific or technological disciplines can turn their research into a real business with the help of the New York Small Business Development Center, university technology transfer departments, and the SUNY Research Foundation. Check out our new video HERE . See other NYSBDC videos on our YouTube channel .

From the Wall Street Journal Universal product codes — UPCs — are the 12-digit numbers that appear under the barcodes on many U.S. products. Getting a UPC means first joining a group to get assigned a unique identification number. They are given out by GS1 US, a nonprofit group that sets standards for international commerce. Here’s how it works: Businesses pay to join GS1 US , and in exchange, it assigns each member its own identification number that appears as the first part of its UPC. Membership can be pricey -- an initial fee of least $250, plus annual renewal fees starting at $50. Companies usually need different UPC codes for each product they sell, even if it is just a different size. So companies will add more numbers to their GS1-issued identification code to identify each of their products. You save money by using a UPC code reseller, but if you're selling through major retailers, this isn't an option.

From The Balance Exit strategies are something that every investor in a business looks for. But even if you are running a one person sole proprietorship, you need an exit strategy. For you, as for any investor in a business, the questions are the same when it's time to move on. How are you going to get your money out of the business? And how much money are you going to get? Having an exit strategy worked out in advance helps ensure that you like the answers to those questions and gives you some control over your small business's future. The best exit strategy is the one that best fits your small business and your personal goals. Decide first what you want to walk away with. If it's just money, an exit strategy such as selling on the open market or to another business may be the best pick. If your legacy and seeing the small business you built continue are important to you, then family succession or selling to employees might be best for you.

When large scale disasters hit an area, the infrastructure failure is particularly damaging to small businesses. Recent flooding in Louisiana points to a hard rule: when your business is cut off from clients, vendors and critical staff, the economic losses continue long after the cleanup is done. The key to protecting your assets and becoming resilient in the face of a natural disaster, cyberattack, or random power outage is having a solid business continuity plan. The cost of developing a plan is low, compared to the long-term financial losses that could occur when you’re caught off guard by a crisis. Learn how to build your own disaster preparedness plan during three free National Preparedness Month (NPM) webinars this month hosted by the U.S. Small Business Administration and Agility Recovery. The series is presented in collaboration with FEMA’s Ready Campaign , and the 2016 NPM theme is “Don’t Wait. Communicate. Make your Emergency Plan Today.” The hour-long webinars will

Elena Yakubovskaya, a research scientist at SUNY Stony Brook, earned her Ph.D in the field of molecular and structural biology in Russia. Ten years ago in her spare time, she was one of the founders of School Nova at Stony Brook, which provides supplemental STEM instruction to elementary students on weekends. In addition, she is the Director of Sigma Camp, a summer STEM educational camp for gifted students. In 2014, Elena started Mindwick, Inc. with the goal of promoting early science education for students in grades 1-3. In 2015 Mindwick was awarded a $150,000 Phase I SBIR grant from the National Science Foundation (NSF) to develop "Ready for STEM" - a new educational program for improving reasoning skills in elementary school students. The Phase I “proof of concept” work results were well received when submitted to the National Science Foundation. In 2016, Elena applied for a Phase II $750,000 NSF grant and two new Phase I grants at other agencies.

From Thrive & ADP Inventory shrink is a loss of goods either due to theft, damages/spoilage or administrative errors on items moving from a manufacturing site to an end customer. The shrinkage can be referred to as a hit to the margin or loss in profit. Inventory shrinkage, or the loss of stock, can directly impact your small business's bottom line. According to 2015 data from the National Retail Federation (NRF), U.S. retailers experienced $44 billion in losses due to inventory shrinkage in the year prior. Organized retail crime and shoplifting accounted for 38 percent of those losses, while internal theft and assorted administrative errors accounted for 35 percent and 17 percent, respectively. It's clear that getting a better handle on shrinkage involves a careful process. As shrinkage can be a costly headache for your small business, getting this problem under control may be one of the best investments you can make. By following the suggestions by THRIVE, you

From Forbes Hiring the right talent is critical to the success of any organization, and it’s especially important for a small business. One employee’s influence can potentially be felt more strongly in a small business than at a large organization. Likewise, when one person leaves a job at a small company, it can be more difficult to cover his or her responsibilities than it would be at a larger firm, especially since most small-business employees wear many hats. One good employee can also propel the business forward, while a bad hire can set back productivity, damage morale, and cost an employer both time and money. Small businesses created 79,000 jobs in January 2016, according to the ADP Small Business Report. How can hiring managers ensure that these jobs are filled by the best candidates who can set their small business up for future success? Joanie Courtney, senior vice president of Global Market Insights at job-search company Monster Worldwide, urges small-business own

From The Guardian Customer service is the badge that every company wants to wear because satisfied customers remain loyal to you and recommend you to others. New customers require time, effort and a significant marketing budget to acquire. It's not hard to keep customers happy, even though we all know from bitter experience that few companies get it right. All that's needed is to put their needs at the heart of everything you do. Communication is vital because your customers want to feel valued and respected. They're also looking for peace of mind that they can trust you will deliver what you promise. Customer service has never been more important; in the current climate consumers are shopping around and demanding more value for money. Businesses that thrive will not pay lip service to customer service, but instead ensure that everything they do is based around doing the very best by the people who choose to buy from them.

From Kabbage People often assume that small businesses are at a disadvantage when competing with big companies. After all, big companies have big company budgets for advertising. They have big economies of scale that enable them to do things faster and cheaper. They can offer lower prices that small businesses cannot match. The idea of competing with big companies is one of the reasons why people think it’s so hard to be a small business owner. But the truth is more complicated. Yes, big companies have certain advantages that come from being big. But especially today, with the great online tools and resources that small business owners can use to make their businesses run better, it’s often possible for small businesses to beat big companies at their own game. The people at Kabbage talked with a few small business owners and business consultants about the best strategies for how small businesses can level the playing field and compete more effectively with big companies.

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

From SBA 1.) Protect against viruses, spyware, and other malicious code, Make sure each of your business’s computers are equipped with antivirus software and antispyware and update regularly. Such software is readily available online from a variety of vendors. All software vendors regularly provide patches and updates to their products to correct security problems and improve functionality. Configure all software to install updates automatically. 2.) Secure your networks,  Safeguard your Internet connection by using a firewall and encrypting information. If you have a Wi-Fi network, make sure it is secure and hidden. To hide your Wi-Fi network, set up your wireless access point or router so it does not broadcast the network name, known as the Service Set Identifier (SSID). Password protect access to the router.

From Nerdwallet Problem solver. Communicator. Financial whiz. Running a small business involves wearing a lot of hats. If you’re looking to increase productivity and organization — or just make your life as an entrepreneur a little easier — a good app might be just what you need. In the ever-growing and changing world of technology, “app” is a word heard all throughout the day. Whether it’s an alarm app that gets you out of bed, or a reviews app that helps you figure out where you want to have lunch, there’s no changing the fact that society as a whole uses mobile devices and the apps that accompany them to plan out their lives. To help you navigate the seemingly endless sea of business apps, Nerdwallet compiled a list of their favorites. These 25 can help you stay organized and in charge, no matter which hat you’re wearing.