Data security for the small business owner that deals with merchant accounts or other type of high sensitive information, is a very serious business. Keeping the information secure is for many small and big businesses nothing short of miraculous. Target, a big retail store had a security breach not long ago, and following that, had to settle a law suit because of it. For many small business owners, the idea of being in charge of their own data security is daunting. The need to have a data security expert in your payroll may not be possible, but the need is real and many small business owners need to address the issue right away.
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5 Data Management Challenges Facing Small Business Owners
Small business owners must now where an additional hat – the data scientist hat.
As small business owners, we generally wear all the hats. And if we’ve grown to where we aren’t wearing all the hats at the same time, we at least rotate through them a few times a month.
One hat that is becoming increasingly important – and scary — to wear is the data scientist hat.
Although data scientists come in many forms, with varied skills, a small business data scientist is mostly responsible for parsing through and analyzing data to present key findings about a business. The goal is to use data and the findings to address challenges, find opportunities, and ultimately, help a business save time and money.
While most of us don’t have the luxury of hiring a bona fide data scientist to handle these figures, there are a few things you should know and consider as you run your business and aim to become as efficient as possible in your business functions.
7 ways to make your small business attractive to venture capital funding
In 2015, venture capitalists invested over $58.8 billion in businesses, yet African-Americans only received one percent of venture capital funding. While opportunities to grow small businesses have been scarce in the past, large investors are beginning to dedicate more attention and inclusion to minority commerce that fosters growth and success. This leaves new opportunities for African-Americans to obtain the money they need to reach more customers.
Before jumping into the big leagues of expanding your business and making a global impact, here are seven ways to attract the right venture capital players and stand out from the competition.
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Know Your Business
Investors are looking for companies who have studied their market, discovered loopholes and are creating a valuable solution to a problem. When presenting your plans,you must be very knowledgeable of your project and of the venture capitalist industry. Useful websites like A VCand Both Sides of the Table offer practical advice through the lense of very successful startup founders and investors. From the materials used to where investors distribute their money, build your confidence so that no investor will doubt the future of your company.
The SurePayroll Small Business Scorecard®: Most Still Struggle to Offer, See Value in 401(k)s
Less than a third of small business owners offer the retirement saving vehicle.
GLENVIEW, Ill., Sept. 7, 2016 /PRNewswire/ — The majority of small business owners (66%) do not offer a 401(k) plan and 42% of those not offering it don’t see the value in it, according to the August 2016 SurePayroll Small Business Scorecard®.
Thirty-five percent of those not offering a plan said the fees are too expensive, and 23% said they don’t know how to manage a 401(k).
The small business owners that do offer a 401(k) said they do so to build retirement savings for themselves and their employees, with just 5% saying they offer it to attract new employees and 6% saying they offer it for tax breaks.
In total, 28% are offering a plan and another 6% plan to add one soon, the Scorecard survey found.
