Though it might only bee a slight increase, the National Federation of Independent Business are reporting that small business optimisim is up as of last month. Though there might not be any new hiring going on just yet, the trend continues to slowly move in a positive manner. This is great news for any small buisness because when several small businesses are doing well the trend seems to grow, even if it's only slightly. If you have any questions about starting your own business, filing for a DBA or forming a corporation, please give us a call at 866-999-8200.
When looking for funding for your company, we often exhaust all are known resources quickly, family, friends, colleges, but there's a new site called Kickstart and it's making funding for your startup business so much easier. Kickstart is a places for ordinary people to finance their ventures by getting the word out and accepting money from anyone who wants to donate. Now you might be thinking that this had been done before, but not like Kickstart, with Kickstart the people submitting donations have a clear idea on what they will be getting in return for their donation. For example, if someone was trying to open up a food truck and they needed $10,000 to start, they could post the project and they stipulate the benefits you get for the amount of your donation, if you donate $10 you might get free lunch one day, if you donate $1000 you may offer to cater an office lunch free of charge. One thing about Kickstart is that it's an all-or-nothing, which means if you do not meet your goal, the donation is not paid out to you, but there are many success stories that surpass their goal. The all-or-nothing helps the site weed out people who aren't serious about their projects, if you're serious about your project you're going to promote it so that you can be sure to meet that goal you set up. Visit Kickstarter for more information.
The Small Business Administration finalized a rule today that allows 5 percent of federal contracts to be awarded to small businesses owned by women. There are some stipulations to the rule, such as the contract prices, they are not to exceed $5 million for manufacturing or $3 million for other services. In order to qualify to take advantage of this rule, the company must be 51% owned by one or more women who are United States citizens. This new rule is a great asset not only to women-owned businesses, but for the economy, as it helps create new jobs. If you're thinking of starting a women-owned business, give us a call at 866-999-8200.
We've talked about cutting costs a lot in our blog, from going paperless to outsourcing, and the latter just might have gotten a little easier. There are so many companies in the US that outsource to India, and while some may feel bitter about sending our dollars overseas, sometimes it has to happen in order for a US company to survive, though big corporations are starting to turn towards rural outsourcing. There are many companies right here more rural parts of the US thriving because of this. The reason why rural outsourcing is becoming so popular is because, even though their costs might still be higher than outsourcing in India, from 10-150 percent higher, it's just easier to deal with a stateside company. The reason why these outsourcing companies can do business at such a low cost, is because they're located in areas where cost of living is lower than on either coast. If you're looking to start your own outsourcing company, it's no longer a requirement that you'll only gain business by being located overseas, give us a call with questions on how to start your own business 866-999-8200.
So many brick and mortar businesses go unnoticed, and though many factors can play into why that is, a big reason is the business not having a web presence. At the very least you should have a website that lists your location, phone number and business hours. Many small businesses are under the misconception that a website must contain a wealth of information and be extremely interactive, and that's not true. If you've got a good web designer, your website can be attractive and simple. What's great about web, is that it can be updated as soon as you need it to be. For example a restaurant might have weekly or monthly specials, and the best place to advertise that is their website, it's quicker and more cost efficient than printing out flyers. Even if you have a simple website less than five pages, it will pay off. In a time when no one uses a phone book anymore, search engines are the key, if your business doesn't have a site to find, the majority of consumers out there will never find your business. If you need help creating a website, our sister company provides websites for all types of businesses, big and small, if you're interested call us at 866-999-8200.
Huntington National Bank, which is based in Ohio, has hired 153 bankers since announcing that they would be on a hiring spree in order to help small businesses across several states such as Ohio, Pennsylvania, West Virginia, Indiana, Michigan and Kentucky, the bankers which Huntington has been hiring since January of this year, are focusing on small businesses whether it be a small Ohio LLC or a small Michigan Corporation. The bank is looking to help with loans totaling in $1 billion in Ohio and a goal of $4 billion over the next three years. This is important news not only for the jobs the banking industry is creating but also for the small business these loans are going to help.
The Associated Press is reporting that many small business owners are breaking out their notebooks and pencils and going back to school this coming fall. Now while you might jump to the conclusion that small business owners are looking for new businesses because theirs might not be doing so well, but that's not the case. People who have small businesses, whether it be an L.L.C., corporation or even a DBA,are just looking to educate themselves to further expand their businesses. Even a simple class such as an accounting class can help small business owners out on cutting costs as well as educating them on other aspects of their business. It's never a bad idea to keep learning!
A growing trend with today's economy is for parents to buy their children, who recently graduated college, their own businesses. The Wall Street Journal and the New York Times have both written about it. In an economy like this one, it's getting harder for anyone to find work, and that includes kids with a college degree. While most parents will buy their kid something a little more affordable as a graduation gift, many parents are setting their children up with something much more valuable, not only because of the cash investment, but in the long run, they're hoping their children will benefit from a small business by providing them with work as well as helping them shield the negative effects of the current economy. Parents might invest a lot, but feel secure in knowing that a corporation or a limited liability company will protect their assets, so they can be a silent member or shareholder of their children's business. Though this is a growing trend, some recent grads are not too into the idea of having their parents put up the cash for a new business, a lot of grads are independent and prefer to do things themselves.