Ohio Increases The Minimun Wage

January 15, 2014 by

business (7)For many people that work for minimum wage, the news that Ohio is increasing the minimum wage to $7.95 per hour is good news. The 10-cent increase is not a terrible burden to small business and definitely can be conceive as a small increase which will eventually help the local economies. For the most recent news affecting Ohio small businesses follow the links below to read the articles in their entirety

Small businesses wary of large minimum-wage increase

On Wednesday, Ohio’s minimum wage will be increased by 10 cents per hour to a rate of $7.95 per hour, impacting an estimated 330,000 workers in the state.

Tipped Ohio workers will see a 5-cent increase in their minimum wage, going up to $3.98 per hour. This increase comes as a result of a 2006 vote requiring annual adjustments to the minimum wage to keep pace with the rising cost of living.

Certain groups, such as Policy Matters Ohio, a nonprofit, nonpartisan policy research institute, applaud the change, maintaining that an increased minimum wage will spur consumer spending and economic growth by as much as $38 million.

“Ohio workers and the Ohio economy will both benefit from this raise for our lowest-paid neighbors,” Amy Hanauer, executive director for Policy Matters Ohio, said in a statement. “The employees who benefit will turn around and spend money in our communities, stimulating growth here.”

Internet cafe law now in effect, takes toll on Ohio businesses

Disconnected phone lines and shells of buildings are all that remain of many Ohio sweepstakes businesses three months after a law effectively banning their existence took effect.

The law, which went into place Oct. 4, limited Internet cafe prizes to items valued at less than $10 and gave law enforcement officials the authority to prosecute businesses as illegal gambling operations if they do not comply. A last-ditch effort to delay the law and place the decision before voters fell about 71,000 signatures short of the 231,000 needed to make the ballot.

The only signs of the former Starz Internet Cafe in Heath, for example, are multicolored carpeting and remnants of window clings advertising Internet cards. Large “for lease” signs are visible from the road.

One challenge to counting how many Internet cafes are still operating in Ohio is that it wasn’t clear how many were doing business in the first place. The best estimates placed the number at 620 before the law took effect. Of those, 339 registered with the Ohio Attorney General’s Office earlier this year.

Skimpy Obamacare plans leave some ‘underinsured‘

For working people making modest wages and struggling with high medical bills from chronic disease, President Barack Obama’s health care plan sounds like long-awaited relief. But the promise could go unfulfilled.

It’s true that patients with cancer and difficult conditions such as multiple sclerosis or Crohn’s disease will be able to get insurance and financial help with monthly premiums.

But their annual out-of-pocket costs could still be so high they’ll have trouble staying out of debt.

You couldn’t call them uninsured any longer. You might say they’re “underinsured.”

These gaps “need to be addressed in order to fulfill the intention of the Affordable Care Act,” said Brian Rosen, a senior vice president of the Leukemia & Lymphoma Society. “There are certainly challenges for cancer patients.”

“Cost may still be an issue for those in need of the most care,” said Steven Weiss, spokesman for the American Cancer Society Cancer Action Network. That “makes it critically important for patients looking at premiums to also consider out-of-pocket costs when choosing a plan.”

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Small Business Owners Challenges For 2014

December 27, 2013 by

business (3)2014 will certainly be a year of many changes for the small business community.  The Affordable Care Act will surely be a component of the uncertainty they feel, and the possible financial increase they expect because of it.  Read more about this and other topics by following the links below.

The Advantages and Challenges of a Remote Workforce

Remote employment options are becoming increasingly popular for businesses and employees alike and the relationship can be mutually beneficial to all parties involved. Businesses have access to a much larger hiring pool, and can generally save on salaries and office space, while the employee saves on commuting and relocation costs as well as more flexibility in their work and personal time.
Automattic, software provider to blogging giant, WordPress, has been utilizing remote workers since 2005. Although the company is based in San Francisco, it employs workers from around the globe from as many as 26 different companies, according to an article published at Businessweek.com.

Staff and employers save with remote work

Automattic benefits by saving money on salaries. Instead of paying their staff based on wages appropriate for San Francisco and Silicon Valley, pay is based on the employee’s physical location. While that doesn’t benefit the employee necessarily, it does allow someone living as far away as Bangladesh a job opportunity without the added expense and inconvenience of relocating to California.

Small Business Majority — 2013 Spells Year of Big Changes, Uncertainty for Americas Small Business Community

With the end of the year fast-approaching, America’s small business community looks back over the past 12 months of enormous changes and gridlock in Washington that has left them closing the books on 2013 with mounting uncertainty. The small business community across the country continues to face these challenges with 2014 on the horizon.

From the implementation of the Affordable Care Act to Congressional dysfunction in Washington resulting in a government shutdown and sequester, 2013 has become a year of big changes and lingering vulnerability for America’s smallest businesses.

Story ideas for what America’s small businesses have faced in 2013:

Implementation of the Affordable Care Act — The U.S. Department of Health and Human Services (HHS) announced the online portion of the federal Small Business Health Options Program (SHOP) marketplace through HealthCare.gov will be delayed longer than previously expected. Instead of the online marketplace, small employers who wish to purchase insurance through the SHOP can still do so by working with a certified broker or directly through an insurer—exactly the same way they purchase insurance now.

Next Obamacare crisis: Small-business costs?

Think the canceled health policies hurt the Obamacare cause? There’s another political time bomb lurking that could explode not too long before next year’s elections: rate hikes for small businesses.

Like the canceled individual health plans, it’s another example of a trade-off that health care experts have long known about, as the new rules for health insurance prices create winners and losers. But most Americans won’t become aware of it until some small-business employees learn that their premiums are going up because of a law called — oops — the Affordable Care Act.

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Small Business News And Information

December 17, 2013 by

business (10)During the holiday season, businesses -big chains and small business- hope they can make the jump from the red to the black numbers, and if not making a big return at least make it even. scams during the year are always there, but during the holiday season, they seem to more prevalent, and find many small business owners unawares of what is going on making the profits a bit harder to come by.

Read more about what is happening in Northeast Ohio by following the links below.

Ohio jumps nine spots as entrepreneur-friendly state

When it comes to fostering entrepreneurs, Ohio is doing it right. The Buckeye State jumped nine spots on the annual Small Business Policy Index, which ranks states by entrepreneurship-friendly policies.

This year, Ohio ranks No. 9, compared to No. 18 in its 2012 ranking.

The annual report takes into account 47 policy measurements, including taxes, regulatory and government spending measures. The report is published by the Small Business & Entrepreneurship Council.

Policy reforms aimed at small-business startup and growth are mostly being implemented at the state level, said Karen Kerrigan, SBE Council president and CEO.

However, federal policy and uncertainty remains a negative for entrepreneurs and small businesses.

“The top states on the Small Business Policy Index 2013 are streamlining government and lifting burdens like excessive taxation and regulation,” Kerrigan said.

FBI issues alert to NE Ohio businesses: Criminals are now using aluminum foil in credit card scam

The Cleveland FBI reports criminals are scamming small businesses in several states, using stolen credit cards. Store clerks aren’t alerted to these bad credit cards until it’s too late, allowing the crooks to steal thousands of dollars in merchandise.

The scam works because some businesses rely on satellite equipment to relay credit card information once a card is swiped inside the store.

Criminals then have the opportunity to climb onto the roofs of these businesses and put aluminum foil over satellite antennas to block credit card communications.

Cleveland FBI Special Agent Vicki Anderson told NewsChannel5 once the satellite equipment is blocked, the crooks will then make their way into the store and are using bad credit cards without necessarily being detected.

“They’ll interrupt the signal and then they’ll go in the store and purchase high-end items, and when that credit card is not authorized, a lot of times the businesses will allow it to go through thinking that they’ll validate it later,” explained Anderson. “When they do that, later they’ll find out it was a bad credit card.”

Small business gets big help

When she found herself without a job at age 54, Mary Magyar decided she wanted to take fate into her own hands.

So she went back to school, enrolling in the Culinary Arts program at EHOVE Career Center.

She knew she didn’t want to work for $10 in someone else’s kitchen. The idea of working for herself took root.

“They didn’t just teach cooking,” she said. “It was management, math and how do you do pricing. I realized, ‘I can do this’”

Magyar also went to Small Business Administration seminars at Terra Community College, where she met Bill Auxter, who would soon become her ally in the new venture.

Magyar came up with “Mary’s Catering to Go,” a business where she cooks the food and clients pick it up. She’s also preparing “The Railroad Depot,” an all-purpose venue where she can cater banquets, corporate functions and private events.

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Ohio Business News

December 5, 2013 by

business (8)Having a business- whether it is small or has many employees-requires to have an online presence. A website that has current information is a must for many businesses nowadays, and if your business is retail the information you have on your website can make a big difference in how much business you do online. Read the articles below to find more news about Northeast Ohio.

5 Easy Ways to Lose Customers 

No one wants to lose customers. But in a competitive environment, the smallest slip can do just that. In fact, 29 percent of customers will not order from an online store again if just one order is incorrect. This statistic and others are included in this infographic from Webgistix, an online fulfillment company, which breaks down the easiest ways to earn a customer’s loyalty or lose it forever through shipping and delivery errors.

Ohio energy efficiency and renewable energy laws headed for a vote

COLUMBUS, Ohio — The Republican-led effort to change Ohio’s energy laws at the request of the state’s electric utilities — and over the objections of the Ohio Consumers’ Counsel, the Ohio Manufacturers Association and several environmental groups — is headed for a showdown Wednesday.

The Senate Republican Caucus met until midnight Tuesday debating a number of bills, including whether to go ahead Wednesday to vote a bill out of the Senate Utilities Committee that would upend the state’s energy efficiency and renewable energy mandates.

But two separate sources early Wednesday morning said the chances of that happening were very slim, based on the tone of the debate and concerns raised during the caucus about the legislation’s impact on consumer electric bills.

Government Files Suit Against Canton, Ohio-based Tab Construction and Its Owner for Allegedly Defrauding the Historically Underutilized Business Zone Program

The government has filed a complaint against Canton, Ohio-based TAB Construction Co. Inc. (TAB) and its owner, William E. Richardson III, for allegedly making false statements to the Small Business Administration (SBA) to obtain certification as a Historically Underutilized Business Zone (HUBZone) company, the Justice Department announced today.

 “The HUBZone program is intended to create jobs in areas that historically have had trouble attracting business,” said Assistant Attorney General for the Justice Department’s Civil Division Stuart F. Delery.  “The Justice Department will take strong enforcement action when companies obtain contracts to which they are not entitled.”
The government alleges that TAB used its fraudulently procured HUBZone certification to obtain four U.S. Army Corps of Engineers’ construction contracts worth millions of dollars.  Each of those contracts had been set aside for qualified HUBZone companies.  The government’s complaint asserts claims against TAB and Richardson under the False Claims Act and the Financial Institutions Reform, Recovery and Enforcement Act of 1989.
Allegedly, Richardson originally applied to the HUBZone program in 2000 by claiming that TAB’s principal office was located in a designated HUBZone when no TAB employees worked out of the HUBZone office, and TAB actually was located in a non-HUBZone.

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Small Business Retirement Savings News

July 15, 2013 by

business (6)Gov. John Kasich’s 2014-2015 state budget has passed, and that means changes to many areas of the government.  But, what does it mean for you as a small business owner? Does it affect the way you save for retirement? How about your health care? Are you saving for your retirement? What are the best options for you as a small business owner? Below, there are three articles that will certainly be of interest for you. Click on the links to read the articles in their entirety.

Lt. Gov. draws attention to small business in local visit

If it weren’t for a pair of western boots and a pair of pink socks, Ohio’s lieutenant governor might have spent less time in downtown Marietta Thursday.

Lt. Gov. Mary Taylor has been on the road this week visiting towns and small businesses across Ohio to gauge reaction to Gov. John Kasich’s recently passed 2014-15 state budget.

After similar trips to Salem and Kent on Wednesday, Taylor stopped by Schafer Leather Store for a private meeting with owner Rob Schafer and Marilyn Ashcraft, southeast region representative for the lieutenant governor.

Small business owners neglect retirement savings

Kari Warberg Block calls it her day of reckoning. It was the day 10 years ago that she realized she had saved nothing for her retirement.

“I started thinking about all the money that had run through my hands over the years, millions of dollars,” says Block, owner of Earth-Kind, a manufacturer of rat and mice repellent. “I was sick to my stomach.”

For many small business owners, the golden years aren’t looking so shiny. Many have devoted so much time and money to their businesses that they have failed to plan for retirement. Catch-up plans for these owners usually consist of aggressively putting money aside, or taking another big risk: Planning to sell their companies one day to fund their retirement.


A retirement plan solution for small businesses: A simple IRA

Are you a small business owner that has been contemplating establishing a retirement plan? Are you concerned about the administrative costs and headaches associated with running a 401(k)? If so, a Savings Incentive Match Plan for Employees (SIMPLE) IRA may be a plan to fit your needs.

A SIMPLE IRA is an IRA-based plan that gives small employers a simplified method to make contributions toward their employees’ and their own retirement. Under a SIMPLE IRA plan, employees may choose to make salary-reduction contributions and the employer makes matching or non-elective contributions. All contributions are made directly to an Individual Retirement Account or Individual Retirement Annuity (IRA) set up for each employee. SIMPLE IRA plans are maintained on a calendar-year basis.

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