Is Ohio Good For Your Business?

December 30, 2014 by

business (3)The Small Business & Entrepreneurship Council has released the 19th. Annual “Small Business Policy Index 201 4.”  The SBE Council rates the states on policy measures and costs Impacting the small Business community and entrepreneurship.  Ohio according to the SBE Council is the number 11th. State to be the most entrepreneur- friendly.  South Dakota, Nevada, Texas, Wyoming, and Florida the most entrepreneur-friendly states do not impose an income tax.  For more about this and other news follow the links below.  Have a Happy and Safe 2015!

Gov. Kasich shares his vision of what Ohio can become

COLUMBUS — Attend one of Gov. John Kasich’s speeches and you’ll likely get a history lesson on Ohio’s economy in the past, present and future.

Kasich has a vision of what Ohio can become — a place where the tax and regulatory environment help support and encourage new energy, biotechnology, information technology and other emerging industries alongside the state’s mainstay manufacturing and agricultural base.

It’s the innovation, Kasich told an audience of business people recently, that’s going to help to drive young people to stay or relocate to Ohio.

“These are the things that will keep young people here,” he said. “… What really gets young people pumped up is the ability to see the future through the jobs that they do. That’s what we have to drive in Ohio. And that means we must have an environment in Ohio that attracts that. We have to have an environment in Ohio that really encourages entrepreneurship and small businesses, because small businesses drive change.”

Feds’ push for better foods, more neighborhood stores is slow-going

WASHINGTON, D.C. – First Lady Michelle Obama took center stage as a cluster of cabinet secretaries and nutrition experts gathered in the Old Executive Office Building, next to the White House, to applaud her “action plan.”

Her plan was to use government influence to purge the United States of “food deserts,” or neighborhoods where poverty-stricken residents have lousy or no access to healthy groceries, fruits and vegetables. Everybody – even the poor – deserves proper nutrition, officials said that day.

Yet four and a half years after the White House made that announcement, committing $400 million in federal loans, grants and tax credits to spur grocers to action, the goal is far from being reached, if Ohio is any measure. Mrs. Obama set 2017 as the year in which the last food deserts would disappear. But that almost certainly won’t happen.

Advocates for the poor insist that the market exists for many more stores to sell broccoli and carrots rather than pushing chips, candy and processed foods that are high in sugar and fat. Poor diet is linked to obesity, type-2 diabetes, heart disease and other chronic health problems, and health researchers say the grocery industry can play

Ohio ranks warmly for its small business policies

Ohio is a good place for small businesses to operate. That’s the word from the Small Business & Entrepreneurship Council, which has released it Small Business Policy Index 2014, which ranks the 50 states based on policy measures and costs for small businesses and entrepreneurs.

As for Ohio, it ranks No. 11 on the list. The ranking may help spread the word on how Ohio has become proactive in working with small businesses.

The index examines 42 different policy measures, including an array of tax, regulatory and government spending measurements.

The top-ranked state was North Dakota, while the bottom spot belonged to California.

a role in reducing the number of people at risk for these diseases. A study by the Columbus-based Finance Fund and a Philadelphia-based partner, the Food Trust, found that more than 2 million Ohio residents, including 500,000 children, live in neighborhoods underserved by supermarkets. They may have access to food at corner stores, but it is unlikely to be fresh or healthy.

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Success Isn’t a Solo Act

December 17, 2014 by

 business (11)No matter how you feel about how he left, it’s good for Akron and Cleveland to have him back – he, of course, is LeBron.  And no matter how you feel about who’s the greatest basketball player of all time, there’s no denying he’s one of the elite.  It’s his emphasis on teamwork, among other things, that’ll get him into the Hall of Fame and maybe help him reach his vision of being the first billionaire athlete.

LeBron knows his goal of winning another championship will be achieved with teamwork, “I just bring the determination to win.  Me being an unselfish player, I think that can carry on to my teammates.  When you have one of the best players on the court being unselfish, I think that transfers to the other players.”

Great leaders understand their success is the result of other’s dedication, inventiveness and enthusiasm, as well as their own efforts.  But, in the United States we tend to downplay the concept of joint effort.  We put a lot of importance on the ideas of individualism and self-determination, concepts which have served us well.

However, these ideals can create problems when ineffective people become too enamored with their own achievements and take too much credit for their successes.  We all know people who were born on third base and go through life thinking they hit a triple (Barry Switzer).   Effective leaders know they deserve some of the praise, but definitely not all or even most of it.

They know their success comes from people showing up for work day after day and efficiently going about the business of doing business – even when their kids are sick or they had to get up early to shovel out the driveway.  A smart manager knows the employees should get credit for the company’s accomplishments; they’re the ones doing the work of making his vision a reality.

The true genius of effective leadership is to recognize implementing his vision isn’t just his responsibility.  He knows that achieving his goals rests on his ability to seek out and listen to ideas from everyone in the company, it’s a group effort.  A person’s success isn’t a solo act, except in the minds of narcissists.  It’s the result of good fortune, hard work, talent and a host of other people.

 

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Workplace Stress and its Ramifications

December 10, 2014 by

business (9)According to a Center for Disease Control and Prevention article and a survey done by Northwestern National Life, 40% of workers today report that they consider their job as being “very or extremely stressful.” And according to Northwestern National Life, one-fourth of employees view their jobs as the number one stressor in their lives.  Job stress has become a very common and costly problem that affects the United States workforce, and a problem that needs to be addressed by organizations and individuals as well. For more about this topic follow the links below.

What you need to know about workplace stress

TORONTO – John Tory was officially presented as mayor of Toronto Tuesday during an afternoon ceremony at city hall.

The job is no doubt stressful:  it’s at least four years long, 24 hours a day, includes no scheduled vacation time and puts every decision into the media spotlight.

So what is stress? Physiologically, we think of stress as the brain’s response to any demand.  And different types of stress have different effects – you can have stress from a sudden event like losing a job, or a traumatic event like an accident, or just routine stress related to the everyday pressures of life – which politicians feel a lot of because of the scrutiny they’re under.

The commonly referred to fight or flight response is the body’s response to stress. It is a mechanism that evolved thousands of years ago to respond to situations like being attacked by an animal.

‘Medicalising’ workplace stress could worsen staff morale, psychologists warn 

Low morale is too often treated as an “adjustment disorder”, which risks worsening the worker’s condition. Photo: Gabrielle Charotte

At least one third of workplace stress claims are due to “low morale” but are regularly being treated as clinical disorders, Australian psychologists have warned.

With workplace mental health problems costing businesses $10 billion a year, an Australian Psychological Society conference this week heard that more than 30 per cent of compensation claims were morale-related and therefore preventable.

Clinical and organisational psychologist Peter Cotton told the conference low morale was too often treated as an “adjustment disorder”, which risked worsening the worker’s condition.

“‘Medicalising’ this issue could be counter-productive and make the employee worse,” he said.

Workplace Stress Can Boil Over Months Later

New research suggests workplace stress can lead to counterproductive workplace behaviors that may not surface until weeks or months afterward.

It is common knowledge that a variety of workplace issues ranging from a seasonal surge in business, or a new manager, can lead to stress that results in immediate problems.

However, the impact of the stress may be underestimated as problems may surface down the road.

San Francisco State University organizational psychologist Dr. Kevin Eschleman determined many employees wait weeks or months before engaging in “counterproductive work behaviors,” like taking a longer lunch or stealing office supplies.

As a result, this behavior, which by some estimates costs businesses billions of dollars annually, may actually be far more expensive.

“People don’t just respond immediately with these deviant behaviors. They may also have a delayed response that isn’t caught by the organization,” said Eschleman.

“That means the organization is not taking into account long-term costs associated with these delayed behaviors.”

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Workplace Stress – Now is a Good Time to Pay Attention

December 9, 2014 by

business (1) The holidays are here and most likely your employee’s stress levels, which were high to begin with, have increased to ultimate, super high.  So why, as their manager, should you care?  Stress is a part of life and isn’t it the employees private concern on how they take care of it? The answer to that question is a resounding “no”.  An effective manager is aware of workplace stress and takes steps to deal with it.

People’s jobs typically require 40 to 50 hours a week – both at a worksite and, with the advent of personal electronic devises, at home during unofficial work time.  Their employment is a big part of most people’s lives, as is the stress which comes from it.  Personal stress and professional stress are linked and they influence each other more than ever.

A successful boss is aware of how workplace stress is an important part of an employee’s life and takes steps to relieve it.  Because, not only is it good stewardship, it’s important for the company’s bottom line.  A conservative estimate is that job stress costs businesses more than $300 billion a year (American Psychological Association, 2013).  Stress leads to absenteeism, diminished productivity, higher health care costs, and theft of property, time and money.

It also causes employees to quit their jobs; turnover is directly affected by stress.  Almost 1 in 4 people (24%) gave “too much stress” as a reason they would quit their job (Randstad, 2014).  Inadequate pay and limited opportunity for advancement were the only reasons that scored higher.  Unfortunately, pay and advancement are often something a supervisor can’t do anything about, particularly in a small business.

But, stress on the job is something she has power over, it can be controlled in many ways.  There are some fundamental time tested techniques, and some innovative ones which are geared to a particular worksite or type of employee.  Skilled mangers will learn and apply these ideas, because healthy stress reduction starts at the top and works its way down.

A supervisor’s negative viewpoint filters down and impacts the whole team.  Workers often identify their boss’s behaviors and attitudes as the primary stressors.  Now is a good time for managers to take an inventory of their own attitudes, as well as the employees.  Going into next year with the idea to increase the company’s bottom line through reducing workplace stress is a worthy personal and professional goal that everybody benefits from.

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Tips To Grow Your Business for 2015 and Other News

December 4, 2014 by

business (5)As 2014 comes to an end, small business owners and organizations start thinking and strategizing for the coming year. Many companies begin the year with new budgets for different departments, and strategies for their marketing campaigns are reevaluated again if they are not working, or if they need to take a different direction. Healthcare packages and other financial incentives for their employees can be evaluated to compare prices and offer them better choices than the previous year.  Follow the links below to read more about small business news, and ways to promote your business for the coming year.

11 Foolproof Ways to Grow Your Small-Business Facebook Following

Your business may have a solid marketing strategy, but are you an effective Facebook marketer?

Facebook estimates that it is home to more than 30 million active small-business pages. How will yours get noticed? How do you turn one fan into 1,000? Here are 11 creative (and perfectly legal!) methods to generate a Facebook following that convert likes to sales fluidly:

1. Make your Facebook page home.
Once you have set up a comprehensive business page, request a personalized web address, such as www.facebook.com/ENTMagazine. Promote your new hub of business across your other social media profiles (LinkedIn, Twitter etc.) and on printed marketing collateral including business cards, highlighting: We’re on Facebook!

2. Analyze your advertising efforts.
Through the admin panel of your page, or the Adverts Create Tool, you can orchestrate simultaneous marketing campaigns on your budget. The benefit of Facebook advertising initiatives is that it tracks your customers’ responses in real figures. Examine what works and engineer your efforts according to that response.

 Can small business help Russia bear West’s sanctions? Putin hopes so

 Moscow — Admitting that Russia has suffered a “difficult” year and faces what now looks to be permanent ostracism from the West, Vladimir Putin on Thursday argued that the current economic malaise is a matter of national security that will determine the country’s ability to survive.

That appears to make it official: the Kremlin now believes that it’s locked into a replay of the cold war, which it does not intend to lose this time. “We are ready to meet any challenge of the times and win,” Putin said.

But in a startlingly new appeal, Putin said in his annual state-of-the-nation address that the way forward is to liberalize the economy and let small business flourish in Russia.
The Russian president rolled out a series of liberal economic reforms in his state-of-the-nation speech today, saying that clearing away bureaucratic red tape and offering tax breaks to small business would soften sanctions’ bite.

Top Retirement Strategies: Small Business Owners

As a small business owner, you are completely responsible for your own retirement planning. Unless your small business is just a side job, you don’t have an employer to set up a retirement plan or choose a set of possible investments for you, and you’re definitely not getting a pension. Further, if you have employees, you may feel responsible for helping them plan for a successful retirement.

This article will discuss the considerations and retirement savings plans that you, as a small business owner, should consider when planning for both your own retirement and that of your employees.

Develop an Exit Strategy

It might seem strange that developing a business exit strategy should be one of your first considerations when planning for retirement. But consider this: The small business you spend your life building might become your largest asset. If you want it to fund your retirement – and if you want to actually stop working – you’ll have to liquidate your investment.

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Can Lousy Managers be Changed?

November 18, 2014 by

business (10) There are a lot of lousy managers, everyone has met them, worked with them and worked for them.  They can create havoc in a workplace, particularly in a small business where their impact is profound.   Many businesses have closed due to incompetent managers.  Because of their influence it’s vital for their supervisors to take responsibility and evaluate the situation – can they be turned into good managers?  The answer is yes, maybe and no.

Yes – some lousy managers can be turned into good ones.  Their poor management skills are usually not their fault.  They were never taught how to be effective and are doing the best they can.   They’re eager to learn, motivated to grow and respond to training and mentoring.  They can be good managers, they can be changed.

Maybe – some lousy managers can be turned around.  These managers know that they’re not doing the best they can.  But, they don’t change because they haven’t been told directly and honestly that they’re doing a poor job, subtle hints don’t work.  Nor, have they had to suffer the penalties of being a lousy manger.

Unfortunately, human nature is such that many people give the least amount of effort until they are forced to do otherwise.  The longer they’re allowed to get away with harmful behavior the more they’ll do it.  When appropriately confronted with facts and consequences, they’ll respond and change with direct supervision, training and an action plan.

No – some lousy managers can’t be saved.  They were unsuited to or ambivalent about being a supervisor from the start and never committed to the position.  Or they may have been adequate at one time, but now don’t care.

No matter the reason, no amount of supervision, training or disciplinary action will help them be a good manager.  No one can make them care about themselves, the company or the employees.  They’re either unwilling or unable to change and have to be let go.

Lousy managers will always be around and some will change, others might change and a few won’t change.  It’s up to their supervisors to recognize which type they’re dealing with and take the appropriate action.  After all, it may save the company.

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Ohio News And Other topics

November 13, 2014 by

business (3)The high cost of insurance has been the reason why 41 million Americans were uninsured in 2013. Most recent numbers suggest that the Affordable Care Act has reduced the number of uninsured people in this country. Businesses across the nation were not only apprehensive about the costs, but were hesitant to make changes before they absolutely had to. News about this and other topics happening in Ohio are below. Read more by following the links.

Less angst over health care at small businesses

NEW YORK (AP) — Small business owners are less angst-ridden about health care than you might think.

Health care costs are in second place among owners’ major concerns in a survey released Thursday by Bank of America. Seventy-two percent cited health care costs as a big concern, down from 74 percent in a similar survey in the spring. The No. 1 concern was the effectiveness of government leaders, cited by 74 percent versus 75 percent in the spring.

Owners are less worried about health care now that they’ve seen what insurance under the health care law looks like and costs. Uncertainty about the law had intensified owners’ concerns. And surveys taken before the new insurance began selling last year showed owners were extremely anxious about whether the law would continue to drive premiums higher.

EPA Announces Support For Small Businesses To Bring Green Technology, Innovative Research To Marketplace

U.S. Environmental Protection Agency (EPA) Administrator Gina McCarthy announced recently nine awards in eight states for small businesses to help them bring innovative green technologies to the marketplace. EPA Administrator Gina McCarthy held a press call to announce the awards and reiterate the agency’s commitment to strengthening economic growth, supporting sustainable businesses, and combating the impacts of climate change.

“The small businesses receiving awards today are innovating affordable, energy efficient technologies that are strengthening our economy and building a low-carbon future while bringing a unique vision for addressing complex environmental issues like reducing harmful emissions to create a cleaner environment and enhancing recycling processes,” said EPA Administrator McCarthy. “When we invest in research and innovation, that return on investment builds a healthy economy and a healthy environment for all of us.”

Administrator McCarthy announced almost $3M in funding to nine small businesses through the agency’s Small Business Innovation Research (SBIR) program. She was joined on a press call by David Levine of the American Sustainable Business Council and two SBIR awardees, John Rich of Nashville-based National Recovery Technologies, LLC., a small business that produced a low cost technology to recycle electronics; and Carol Ann Wedding, president of Imaging Systems Technology, a small business that developed a highly efficient, versatile water purification system, based in Toledo, Ohio.

Hispanic biz summit highlights Ohio’s growing minority business sphere

About 180 people converged on Wright State University’s Nutter Center on Monday for the Amigos Latinos Business Summit, a push to promote the local Latino business community as young minority entrepreneurs look to grow their businesses in Dayton — and local and state agencies look for more such businesses to work with.

The event featured classes on starting and growing a business and working with local and state agencies, as well as an expo to give local Hispanic companies a chance to connect with students and job seekers, as well as each other.

Tony Ortiz, Wright State’s associate vice president for Latino Affairs, hopes to make the event a yearly gathering.

“A lot of the Latino population is headed to places like Florida, but they still have family in Ohio,” Ortiz said, “We hope that in building some opportunities and promoting the business here, we can bring some of that workforce back.”

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Should You Hire a Tax Professional?

November 7, 2014 by

business (4)For big corporations, having a team of lawyers, accountants, human resources and financial advisors is expected.  Small business owners and young entrepreneurs that have cash flow issues are tentative about having to part with more cash and hire an accountant or tax professional for their business. But, when it comes to dealing with the IRS, state and local authorities, having a tax professional can save you more than you will be spending by using his services. Fines and penalties for filing late, filing incorrectly, or not filing all the forms can add up and cost your business thousands of dollars in the long run. Tax laws change yearly, and deductions and tax breaks that your business may be entitled to can go unnoticed and unclaimed by your business.  Have an accountant or tax professional to help your business this year.  For more information about business taxes, follow the links below.

Ohio Small Businesses Misinformed About Tax Deduction

Republicans including Gov. John Kasich have promoted tax deduction as a way to help small businesses expand. Owners could take a 50 percent tax deduction on up to $250,000 of income for 2013.  But according to The Columbus Dispatch,  just 379,000 business filers took the tax deduction as of Oct. 19. That’s roughly half of the 717,000 filers the state’s Department of Taxation anticipated when the Republican-dominated Legislature passed the tax break in June 2013.

The newspaper reports that those business filers saved $287 million in income tax. That’s below the $533 million in projected savings. It appears however that it’s too early to say why the numbers didn’t match the expectation.

The average filer – those entities whose profit and income are one in the same – saved about $760. Most claimed the deduction on less than $40,000 worth of business income, providing average tax savings of less than $150. A fraction had incomes topping $180,000, with an average savings of nearly $6,000.

Tax deduction for Ohio small businesses not taken as frequently as state anticipated

COLUMBUS, Ohio –  A tax cut for small business-owners has not been claimed as frequently as expected.

Republicans including Gov. John Kasich (KAY’-sik) have promoted the tax deduction as a way to help small businesses expand. Owners could take a 50 percent tax deduction on up to $250,000 of income for 2013.

The Columbus Dispatch reports (http://bit.ly/12sKGkZ ) that just 379,000 business filers took the tax deduction as of Oct. 19. That’s roughly half of the 717,000 filers the state’s Department of Taxation anticipated when the Republican-dominated Legislature passed the tax break in June 2013.

The newspaper reports that those business filers saved $287 million in income tax. That’s below the $533 million in projected savings.

Ohio small businesses paid way more income taxes than they had to last year

Ohio small businesses paid hundreds of millions of dollars in income taxes they didn’t have to, according to a story in the Columbus Dispatch.

Last year, Ohio business owners could receive a 50 percent tax deduction on up to $250,000 of income.

About 379,000 tax filers took the credit out of the 717,000 filers the state’s tax department thought could do so.

Those businesses saved $287 million of the $533 million the state believed could be saved.

Northeast Ohio is key hub for nation’s manufacturing push

Northeast Ohio is leaving a mark on some national initiatives to advance manufacturing.

President Barack Obama last week announced plans to invest $100 million in an apprenticeship grant competition, $130 million in a competition that will help small manufacturers take on new technology, and more than $300 million in the advanced materials, advanced sensors and digital manufacturing technologies.

The University of Akron played a sizable role in identifying the priorities behind those announcements as part of the Advanced Manufacturing Partnership 2.0.

But that’s not the only connection Northeast Ohio has had to the national manufacturing conversation of late, as the CEO of Kent Displays Inc. — the company that makes the Boogie Board e-writer — recently completed an appointment as the co-chair of the subcommittee on innovation, research and development on the U.S. Department of Commerce’s Manufacturing Council.

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Want to Sound Smart? Don’t Use Buzzwords

November 6, 2014 by

business (11)One of the main uses of communication is to convey meaning, emotion and information to others.  People also attempt to use language to create and form the image they’d like others to have of them.  It happens every day, in many different ways, through a variety of mediums – sometimes successfully, but often times not.

This is true for both personal and business communication.  In business the words you choose to use reveal a great deal about yourself to others, both professionally and personally.  Along with appearance, language is fundamental in creating the image people form about you.

Words provide structure and meaning for your thoughts, beliefs and ideas. The terminology you choose, how you say it, and to whom you say it gives clues about your: level of education, actual knowledge on the subject, comfort level with the current circumstances, job satisfaction, commitment to the product or service, state of mind and outlook on life.

Because other’s perceptions of us are so closely tied to language it’s a big mistake, in a business setting, to use buzzwords incorrectly or that are old and out-dated.  They’re also often used – both unintentionally and intentionally – to complicate rather than simplify issues.  Everyone has been in a meeting, read an email, or talked with a coworker where this happened, resulting in an unfavorable impression of the person.

Many people use buzzwords to try to sound smart, which only gives the impression that they don’t know the topic or are unconfident in addressing it.  They’re also regularly used by people who’re insincere and just “BSing”.  When used incorrectly or excessively buzzwords can do serious damage to your reputation and creditability.

This is particularly true if the business communication is written.  If you’re using buzzwords to impress or cover up a lack of knowledge, but don’t know what you’re talking about, it’s easier for others to see the mistakes and misusages in writing.  And once it’s in writing it’s there forever for anyone to see and mock.

Clear, simple and concise communication will make you sound like you know what you’re talking about, not buzzword filled sentences.  So, the key takeaway here is to pivot your strategy by finding bandwidth to hack and gameify your wheelhouse through synergy.  Or not.

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Ohio’s Economy

October 28, 2014 by

​business (5)Election Day is right around the corner and candidates are eager to tell you that Ohio is better off today than it was a year ago.  The economy is doing better thanks to their diligent work, astute maneuvers, and their hard work, etc. etc……..Before you cast your vote, here are some statistics that while they may not help you voting, may give you a clue as to the state of the economy.  The United States unemployment rate last September 2013 was 7.2% while this September 2014 is 5.9%. In 2009 when President Obama took office the economy had reached a 10% unemployment rate (Oct. 2009). The Ohio Unemployment rate today is 5.6% compared to 5.7% last month, and 7.4% last year. So, are we doing better? Is the economy mending? Are the taxes we pay now higher now than they were last year? Follow the links below for more information about the state of Ohio’s economy.

OHIO SMALL BUSINESSES Tax cut goes largely unclaimed

COLUMBUS
A tax cut for small business-owners in Ohio hasn’t been claimed as much as expected, leading some to shell out hundreds of millions in taxes that state law didn’t require them to pay.

Republicans including Gov. John Kasich have promoted the tax deduction as a way to help small businesses expand. Owners could take a 50 percent tax deduction on up to $250,000 of income for 2013.

The Columbus Dispatch reported that just 379,000 business filers took the tax deduction as of Oct. 19. That’s roughly half of the 717,000 filers the state’s Department of Taxation anticipated when the GOP-dominated Legislature passed the tax break in June 2013.

The newspaper reports that those business filers saved $287 million in income tax. That’s below the $533 million in projected savings. The average filer — those entities whose profit and income are one in the same — saved about $760.

​Ohio small businesses paid way more income taxes than they had to last year

Ohio small businesses paid hundreds of millions of dollars in income taxes they didn’t have to, according to a story in the Columbus Dispatch.

Last year, Ohio business owners could receive a 50 percent tax deduction on up to $250,000 of income.

About 379,000 tax filers took the credit out of the 717,000 filers the state’s tax department thought could do so.

Those businesses saved $287 million of the $533 million the state believed could be saved.

Smaller businesses in Ohio turn cautious

Owners of small and medium-size businesses in Ohio are growing more cautious about the outlook for their sales and profit in coming months.

Just 39 percent of the business owners expect sales to increase in coming months, and only 29 percent predict a higher profit, according to PNC Bank’s semiannual survey of business owners released yesterday.

Both numbers are lower than the results of the spring survey and the one taken a year ago.

At the same time, though, the survey found that 82 percent of business owners are optimistic about their company’s prospects over the next six months. That percentage is consistent with previous surveys.

The seemingly contradictory results reflect an Ohio economy that is growing more slowly than the national economy, PNC economist Mekael Teshome said.

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