Big Ideas for Small Business® is dedicated to providing small businesses with the tools they need to gain a solid foundation and future financial success. With counsel for almost every facet of entrepreneurial finance, Barbara Weltman is your source for the right ideas for growing your business.
July 20, 2018
Trade Show Booth Makeover
Halo, a distributor of promotional products, is running the 2018 Trade Show Booth Makeover Contest. Small businesses (less than $5 million in annual revenue) can win a $5,000 booth makeover. Entry deadline: July 31, 2018. Find details at Halo.
In today’s highly partisan environment, there have been numerous stories reported in the media of merchants and restaurants refusing service to certain patrons. Leaving politics aside, if you own a store, restaurant, or other business, can you legally refuse service. Does the phrase “we reserve the right to refuse service” have any legitimate basis? Situations you may want to control The nature of your business may inform the rules you want to set. Consider such rules as: Jackets required No cell phones No concealed weapons Shoes and shirts required Legal rules You may be able to set certain rules for […]
The gig economy was a term coined in the Great Recession (officially from December 2007 through June 2009) when mass layoffs (about 7% of all jobs) forced many workers to seek a number of part-time jobs in order to make a living. At the same time, a number of platforms, such as Uber (founded 2009), Fiverr (2010), and TaskRabbit (founded 2008) began to offer work when and to the extent the worker was available. Last month the Bureau of Labor Statistics released a report on contingent and alternative employment arrangements. This report said that there were 5.9 million workers as […]
Each year for the past 20 years, the Friday following Father’s Day is Take Your Dog to Work Day. This unofficial event has grown in popularity, and the trend is likely to continue. According to a survey 2 years ago by Wellness Natural Pet Food, 37% of workers would give up benefits (vacations, working from home, etc.) to be able to bring their pets to work. Nearly half (46%) said bringing their pet to work would improve their mood. And another survey found that permitted employees to bring their pets to work increases company loyalty. This prompts me to ask […]
According to the Google dictionary, a myth is a widely held but false belief or idea. In my view, myths persist because there is an element of truth in them; they aren’t entirely false. When it comes to business, there are myths that continue to be accepted as truth. But are they? 1) Myth: You need a written business plan to start a business. Reality: You certainly need a plan, but you don’t necessarily need a formal written plan. According to business plan expert Tim Berry, the plan doesn’t necessarily have to be long or contain extensive market research. You […]
It’s axiomatic that business owners want their companies to grow, and for many that’s exactly what’s happening in this economy. The rewards of growth mean more money coming in that can be used to hire additional employees, invest in new equipment, pay off loans, and save for future activities. However, rapid growth can trigger some problems that need to be addressed. Here are some of the risks, and what you can do about them. Understaffing In order to handle more business activities, you’ll likely need to put more people on the payroll. While you can outsource some tasks (e.g., fulfillment) […]
On June 21, 2018, the U.S. Supreme Court, in a 5-4 decision, changed a position it had held for decades. Back in the early 90’s, the Court, in a case called Quill Corp. v. North Dakota, said states couldn’t require merchants to collect sales taxes unless they had a physical presence within their borders. Now, the Supreme Court has reversed its position, saying that states can require online retailers to collect sales taxes on what’s sold within their states. State Sales Tax Rules The case, called South Dakota v. Wayfair, Inc., focused specifically on South Dakota’s law requiring online retailers […]
Book Interview - J.K. Lasser's Small Business Taxes 2018
10 Summertime Actions for Your Business
-Lynnette Khalfani-Cox, The Money Coach
-J. S. Budnik
-Meredith Wood, Fundera Ledger