Productivity In The Workplace

Small and big businesses regardless of what industry they are in, try to boost productivity in the workplace to achieve their goals.  Whether they are offering financial incentives, recognition across the company, or extra vacation days, companies will go to extra lengths to reach or boost workplace productivity.

Every company has employees that are super stars and their productivity is unparalleled.  But, as every company have super stars, they have the super “duds” in it as well.  When looking into improving the productivity in your company, you have to take into account that all your employees have to be accountable for the work they do or are supposed to do.  The superstars can only take the team up to a point. Dragging the employees that are falling way below their potential is exhausting and mentally exhausting for everyone else.

Metrics that help you measure the productivity of your employees and yourself are widely available for businesses.  Every employee believes he is productive, but remember that productivity is a very subjective concept for many of us. We do not measure time or productivity equally.  Reading and answering all emails in your inbox may seem like you are productive, even if you do nothing else.  For other people answering all those emails is only the beginning of their day.

When measuring the productivity of your employees-and yourself-take into consideration that employees respond differently to what management or they owner tells them.  For many employees a job performance review and an unsatisfactory review at that, can be more harmful that no review at all.  You have to get to know your employees before handing out advice.  Sometimes a pat on the back, or a nice word at the beginning of the day are for many employees enough to continue working hard for you.  Recognition that they are doing a good job and that you are aware of it, can increase the productivity of many of your employees.

Most workers across the United States have a life outside work. Families, other jobs, elderly parents, financial problems and a myriad of other issues, are a constant reminder that we are humans and have a limited time of hours every day.  Expecting the employee to be a happy and responsive human being every single day is expecting too much.  When asking an employee for X, Y and Z, think before and ask yourself if it is too much.  I do not believe that you have to hire a slacker and let it be, just think that a happy employee will be a more productive employee for you and your company.

Small Business News For February

The United States Department of Labor said last week that claims for unemployment benefits fell by 14,000.  That means that the unemployment benefits claims in the United States fell down more than 8% from last year. The unemployment rate is 4.7 and according to economists that can be considered full employment, making it a nine-year low in the United States.

For more about this and other news, follow the links below.


Small Business Ombudsman ‘fed up’ with banks refusing to change their ways

Australian banks have plenty of critics, and now they can add the Small Business Ombudsman to that list.
Kate Carnell, who has authored a report released today into banking practices, has found lenders are not being fair when they enter into contracts with small and medium-sized businesses.

“Across the board the contracts that were in place between banks and small businesses [were] simply unfair,” she told AM.

“Banks have all the power and the small businesses have no power at all and there need to be some change.”

The ombudsman’s report into banking practices has been released today by the Government.

It found that there is an unequal relationship between the banks and small and medium-sized businesses that borrow from them.


Local restaurants joining the coalition of Small Business United Against Hate

Mike Sherwood of Pizza Nea calls it “coming out of the closet for caring.”

Small business owners have a conundrum that cuts both ways: They don’t have the money or the clout to change laws or legislation the way big business does. All they have are their voices. But if they use their voices, certain customers could turn against them.

“It’s a big risk,” says Sherwood, who came out as proudly anti-Trump on his business social media pages early and often. “Minnesota is 50/50 [politically].”

But, as another small business owner put it in a grassroots meeting on Tuesday night, “Sometimes you just have to do what’s right.”

John Sugimura owns PinkU, the modern sushi restaurant that recently opened in northeast Minneapolis. He chose the name, which means “pink” in Japanese, because in that language, it also has connotations of “peace” and “democracy.” He wanted to always gently remind himself of where he came from. Sugimura is a longtime social advocate and activist, but his recent conversion to restaurant owner has taken him out of his usual circles.


Hiring Rebound at Small Businesses in January, ADP Says

HIRING REBOUND: Small businesses more than tripled their number of new jobs in January, adding 62,000, according to payroll provider ADP. That’s up from 18,000 in December, and in line with the average of more than 62,000 per month in 2016. ADP counted the number of jobs at its small business customers, those with up to 49 staffers.

Small businesses were part of an overall trend of stronger job growth last month. ADP reported that businesses of all sizes added 246,000 jobs last month, up from December’s 151,000.

WHAT IT MEANS: The figures suggest that employers are hiring again after scaling back their payroll expansion in the second half of last year. The arrival of the Trump administration, which was welcomed by many small business owners, may have encouraged them to take some more of the risks they’ve been avoiding since the recession, including expanding their staffs. Many owners have said in surveys they’re not willing to hire unless their revenue is strong enough to justify the added expense.

WHAT ELSE TO LOOK FOR: Employment reports later this week from the National Federation of Independent Business and the Labor Department will give different perspectives on job growth, but will nonetheless help reveal owners’ sentiment about their companies and the economy. The NFIB surveys its members, while the government report will look at hiring across the private sector. It will not break out figures by company size.


 

Small Business News For This Coming Tax Season

There are not many relationships in business as important as that of an accountant or tax advisor and a small business owner during this time of year.  During the months ahead, when many small business owners are already thinking about taxes, the advice these people offered them can be a tremendous financial relief for their business. Small business owners try to minimize as much as possible the amount of taxes they pay every year. The advice a CPA  gives them can save them hundreds, if not thousands of dollars.

Talk to a tax advisor soon, prepare papers and other proper documents to take to him/her and beat the rush.

For more about this and other topics, follow the links below.


Tax season is here with rising stress levels, headaches for small businesses

NEW YORK (AP) – With the start of tax season, stress levels are rising at many small businesses.

Even owners who are organized, keep good books and stay in touch with their accountants can find compiling returns to be a painful process. One reason is that tax laws change often, says Rosamaria Bravo, a certified public accountant with the firm MBAF in Miami. One of this year’s big differences: Partnership returns must be filed by March 15, a month earlier than in the past. And companies known as C corporations have a filing deadline of mid-April, after having a March due date in past years.

“It’s very hard to stay on top of all the information,” Bravo says. “The average business owner is more worried about their day-to-day operations.”

Here’s a look at some lessons small business owners learned:

USING SOFTWARE WISELYWhen Christina Divigard started an advertising agency, she bought accounting software and began keeping the company’s books herself. When tax season arrived, she discovered that out of inexperience, she’d incorrectly entered some information and misclassified some types of deductions. It took two weeks to get her books in order.


The $83,000 Question: How Much Do Regulations Really Cost Small Businesses?

How much does it cost the average small business to comply with government regulations? One recent survey, released just in time for Donald J. Trump’s inauguration, dropped this eye-popping number: at least $12,000 a year. And you don’t even want to know what a start-up spends on regulations in its first year. However, I’ll tell you anyway — a whopping $83,019.

These figures come from the first-ever Small Business Regulations Survey, conducted by the National Small Business Association, which of course makes it its business to reduce the regulatory burden on small businesses. Among other conclusions, the survey found that 44 percent of businesses spend at least 40 hours a year dealing with federal regulations, and 29 percent spend at least that much on state and local rules. Three-quarters of business owners say that they have spent time reading proposed rules at least once, and of these, not quite two-thirds discover that more than half the time, the rules they’ve read wouldn’t apply to them. About 40 percent of respondents claim that they have held off making a new investment because of a regulation at some point in the past.


Facebook’s Creative Shop: What Can It Do For Small Businesses (And Itself)

The service helps companies spruce up their ads in order to engage more with the platform—and also keep Facebook ahead of its competitors.

Baked founder Matt Lewis never thought about hiring an ad agency to help boost holiday sales at his three bakeries in New York City, but he did want to run some kind of campaign this year to get people to preorder pies for Thanksgiving.

A former ad man himself, Lewis thought he was capable of making social media content that was good enough to draw in some customers. In the past, he’s hired photographers and considered hiring a design agency to spruce up the Baked website. But the costs are high. A photographer would cost him $1,500 a day, and a video shoot, about $3,800 a day. “We don’t really have those funds,” says Lewis, whose warm smile and calm demeanor might lead you to think he’s a yoga teacher, not a baker. “There’s no return, or the return would be so small after you’ve paid everybody out. It wouldn’t be worth it.”


 

Business News For The New Year

For many small business owners, the new year brings new challenges, but also many fantastic opportunities for their business.  Many small business owners reflect on the opportunities they had, and let them passed.  Was marketing their business effective this year?  Were the products and promotion adequate? Looking back at 2016, many businesses are already making changes, and preparing for the new year.  If you are one of those businesses, we wish you luck and hope all the goals for 2017 come your way.  Happy Holidays!


Cures Act: Small Business Provision Gives Employers More Health Plan Options

Small business owners will ring in the New Year with a new law that allows them to offer certain health benefits through qualified small employer health reimbursement arrangements (QSEHRAs) without facing a huge penalty.

President Obama signed the 21st Century Cures Act, to which the Small Business Healthcare Relief Act was added, on December 13, 2016. The bill comes during a time when small employers with fewer than 50 full-time equivalent (FTE) employees have had limited options when looking for the best individual health plans for their employees. Previously, under the Affordable Care Act (ACA), small employers had been prohibited from helping pay for employees’ individual health insurance through health reimbursement arrangements (HRAs), risking fines up to $36,500 per employee.

HRA fines under the Affordable Care Act

There was a time when HRAs were legal and they were extremely beneficial. HRAs for individual health insurance plans had historically been a useful tool for small employers who wanted to help employees pay for their out-of-pocket expenses.


Just 23 Percent of Small Businesses Expect Increased Sales This Holiday

The holiday cheer seems to be missing for small businesses.

Small Businesses Are Anticipating Slow Holiday 2016 Sales

A new survey reveals only 23 percent of small businesses are expecting an increase in sales this holiday season. That’s down 29 percent a year ago.

Businesses are Optimistic Overall

On a positive note however, Capital One’s latest Spark Business Barometer, has found despite the drop in sales expectations, the overall small business sentiment seems to be improving.

Forty-nine percent of business owners reported “good” or “excellent” business conditions in their area heading into 2017. That’s an increase of eight points compared to the first half of 2016.

“It is encouraging to see many businesses improving their outlook about the future, after a brief dip in confidence earlier this year. While concerns related to costs and regulations still exist, we are glad to see that optimism is on the rise,” said Buck Stinson, Head of Small Business Card at Capital One (NYSE:COF).


Your small business can afford a CTO. Here’s how

So you’re thinking about hiring a CTO, or chief technology officer, for your startup —or dreaming about it, at least. Having someone to focus on IT best practices, disaster recovery planning and the implementation of cloud technology so that you can focus on doing what you love would be an absolute dream —perhaps an unreachable one,you think.

The national average salary for a CTO is nearly $165,000, according to Glassdoor. What small business has that kind of money lying around? You’ve perusedrésumés of independent contractors, but hiring one seems risky. Who says they’ll perform? There is a safe, affordable happy medium, and it comes in the form of an MSP, or managed service provider, that can offer you the CTO services you need in an affordable, à la carte fashion, according to the information technology experts at Frontier IT in Colorado Springs.

Why do small and new businesses need CTOs? Why does outsourcing this position makes sense for so many start-ups? How can you arrange CTO services for your company? The experts at Frontier IT answer these questions.


 

Small Business News And Information

We must not believe in polls or pollsters ever again, or at least for the near future.  Predictions were wrong when pollsters assured us of an imminent victory for  Hillary Clinton. And, according to them, small business owners’ optimism before the election was assuredly flat.  After the election, the pollsters tell us small business owner’s optimism is soaring. It is soaring so much that despite their great optimism about the new president elect, they are holding onto investing, waiting to see what it’s going to happen when he actually takes office.  As is everyone.

Follow the links for more about this and other stories.


One key thing is missing from small business owners’ euphoria over Trump’s win

Several surveys show that President-elect Donald Trump’s win was a confidence boost for business owners. However, they’re not immediately planning to invest more.

On Tuesday, the National Federation of Independent Business’ report on small businesses continued this trend.

“What a difference a day makes,” said Juanita Duggan, the NFIB CEO, in the release. “Before election day small business owners’ optimism was flat, and after election day it soared.”

The headline Small Business Optimism Index jumped by 3.5 points to 98.4. Like Wall Street, small business owners are betting that Trump’s promises to ease regulations and cut taxes would support their bottom lines.

In fact, compared to the bigger companies — whose shares have rallied since the election — small business owners  are likely more excited about these prospects because they have less muscle to cope in the current environment.


8 Powerful Ways to Market Your Business on a Limited Budget

When money is tight, think outside the box.

According to HubSpot, the third top marketing challenge for companies is the lack of budgeting resources. Unless you are a startup with venture or angel capital, you probably have a limited marketing budget. Here some ways you can market your business on a limited budget.

1. Go guerilla.

Guerilla marketing looks to leverage creativity, imagination and originality in place of a big budget. Smart small businesses with a limited budget often use guerilla marketing to compete with huge companies. There is no shortage of creative guerilla marketing ideas. Here are just a few examples:


In the shadow of Trump Tower, small businesses suffer

The holiday season is typically a busy one for Judge Roy Bean Public House in midtown Manhattan.

The bar and restaurant had been on a solid run, up 20 percent overall for the year, and owner Peter Pernicone had high hopes for strong sales to close out 2016.

Then came Election Day.

The small business is located in the shadow of Trump Tower on West 56th Street, which is now swarmed with New York police officers and Secret Service agents, guarding President-elect Donald Trump as he makes the transition from businessman to commander-in-chief.

“For November, we’re down 30 percent,” Pernicone said. “They’re keeping the streets open, then closing them down. There’s no rhyme or reason. We don’t know what to expect. The police presence on the corner has been intimidating, and tourists are scared to walk down 56th street.”


 

Looking For A Business Loan?

59948705Many entrepreneurs have launched their small business with a loan from a parent, uncle, or any other relative willing and able to afford lending a small sum, and perhaps not getting their money back for many years. Not everyone has the means to do that, and that’s why getting a small business loan from a bank is so important for many entrepreneurs, or even the small business owner already established.  Many analysts believe the lack of small business loans available to small business owners has decreased over the years, and the terms of the loans are not very favorable to the small business owner or entrepreneur.  Looking at different alternatives seems the only way for anyone looking for a loan to launch their business idea.

For more about this topic, follow the link below.


Four Smart Ways To Finance Your Next Big Idea Or Small Business

If you’ve ever wanted to start a business of your own, there’s likely been one big hurdle getting in your way: getting the money to finance your big idea.

Fortunately, the internet has made this process a whole lot easier. In the mid-90s, I was able to self-fund my business through the first few dollars I made online, then kept scaling and putting money back into my business over time.

Like most online businesses, my startup costs were extremely low. But not all business models are created equal: Some may need more investment money and funding than others. To help with this process, I’ve listed four different ways you can start raising money or obtaining a financial loan for your next big business idea.

Pre-Sell Your Product Or Idea Before Launching

Wouldn’t it be great if you could prove your model worked before starting your business? In the offline world, this is quite expensive and hard to accomplish. But on the internet, it’s happening every day.


‘Fintech’ fast-cash loans are like ‘wild west’ for small businesses

If you run a small business, you’re likely seeing a flood of offers for easy-to-get loans — through direct mail, pop-up ads, even TV ads — promising fast money to pay your bills or buy new equipment. But that new world of fast cash can come with some costly catches.

“It’s been the wild west,” said Karen Gordon Mills, co-author of a just-released Harvard Business School study exploring the promise and challenges of alternative small-business lending. The sector has exploded in the last few years as a new industry emerged, referred to as “fintech” (for financial technology).

Typically, to get a loan, a small-business owner needs to provide a bank with tax returns, personal and business financial statements and a pile of other documents and data.  “You have to wait weeks or months,” said Mills, who co-wrote the report “Small Business Lending: Innovation and Technology and the Implications for Regulation” with Brayden McCarthy.

Moreover, there’s been a persistent “credit gap” — a dramatic lack of funds available for small businesses needing smaller amounts of money, less than $250,000.


Here Is What Small Business Needs From the Trump Administration

The nation’s 28 million small businesses and tens of millions of self-employed freelancers need a voice the President will listen to.

As President-Elect Trump is busy at work filling his Cabinet positions, the one area that may be among the most important, but is among the least talked about, pertains to small business.

Small business and entrepreneurship are at the center of creating jobs and growing the economy, which are key pieces of Trump’s stated focus. While previous presidents, including President Obama, have raised the Administrator of the Small Business Administration to a Cabinet-level position, Trump should continue his out-of-the-box thinking and make a small business Cabinet position even more front and center in his own administration.

As a leading small business advocate for the greater part of the past decade, I’ve identified several key areas that Trump’s appointee should be able to navigate in order to add full value to the administration, as well as the 28 million small businesses (and tens of millions of freelancers) currently at the center of our economic engine.


 

Small Business Saturday

small-shopNovember 26, 2016, is Small Business Saturday.   More than 16 billion dollars were spent last year at small retailers across the nation according to the Small Business Administration (SBA) and this year many believe will be bigger.  If you are a small business, this holiday weekend is sure to provide you with the extra sales you were hoping for and the extra income many small businesses need.

For more about Small Business Saturday, follow the links below for more information.


8 Ways To Boost Sales Using Social Media This Small Business Saturday

Small Business Saturday, the day after Black Friday, was created to shift attention from big box stores to the smaller mom-and-pop shops offering carefully curated product selection and gift ideas you won’t find anywhere else. It’s a celebration of everything that makes small businesses special.

To take advantage of the spotlight being shone on Small Business Saturday on Nov. 26, 2016, make sure your business is leveraging social media to get the word out. Here are eight tactics to use:

1.Use The Hashtag #ShopSmall

On Facebook, Twitter and Instagram, use the hashtag #ShopSmall to allow customers to easily find information about your business and to alert them that you’re participating in Small Business Saturday. And use the hashtag yourself to search social media for other ideas for promoting your small business during this busy time of year.


Small Business Saturday is expected to be busier than ever

CLEVELAND, Ohio – Politicians and the Small Business Administration’s District director visited several small stores in Lakewood on Monday, a grass-roots marketing effort to bring attention to Small Business Saturday this weekend.

“We were in Lakewood to highlight Small Business Saturday which comes after Black Friday and before Cyber Monday because we want to encourage people to shop small this coming Saturday,” said Gil Goldberg, the SBA district director. “But we could have been in any town, city or village in Northern Ohio to illustrate the support that merchants in the community provide.”

Goldberg was joined by Congresswoman Marcy Kaptur and Lakewood Mayor Mike Summers.

Last year, Small Business Saturday packed a big punch to the U.S. economy: 95 million consumers shopped in small and local retailers and restaurants and spent $16.2 billion, nearly triple ($5.5 billion) what consumers spent  with small retailers in 2012, according to the U.S. Small Business Administration.

The shopping day was first started by American Express. The idea came about during the recession in 2009, and officially launched a year later. At the time, the nation was still recovering from the financial crisis, and eventually lost about 200,000 small businesses.


Rosenberry: Shop small business Saturday

Black Friday is almost here, which means the Christmas shopping season has officially begun.

More power to you if you want to fight the traffic and the crowds. But don’t forget: You also can get deals on Small Business Saturday — which happens just one day later.

In the spirit of the holiday, I wanted to scope out a small business that’s new to me, someplace I’ve never been; and I found the perfect place — a cute little craft store with a big heart.

Craft Bits & Pieces is located in Fairport’s Village Landing plaza. Unlike most places you may shop this holiday season, Craft Bits & Pieces’ sole purpose is a charitable one. It raises money for Perinton’s Senior Options for Independence, care management and transportation programs.

The shop relies on more than 50 volunteers to collect, sort, clean, package and shelve thousands of items donated every week. The shop has three part-time managers and is overseen by Joanne Haag, executive director of the Fairport/Perinton Senior Living Council.

True to its name, Craft Bits & Pieces is a crafter’s dream store, stuffed with fabric, notions, buttons, scrapbooking supplies, yarns, needles, dried flowers and more. Plenty of delights for non-crafters also line the shelves, including home decor items, glassware, jewelry, puzzles and books.


 

Small Business Hiring And News

64002400Small business owners across the United States are being careful after the dismal reports of hiring across the country.  They are holding off any hiring they may do, and are still reticent to make any moves that will put their financials in jeopardy.  Economic growth seems to be inching forward a bit slowly, and some small business owners are still holding off till elections are over.

To read more about this and other stories follow the links below.


Dear Donald Trump: I’m a Small Business Owner, and I Want More Regulation

We love the election-year attention but the presidential candidates are focusing on the wrong things

In election years, I love calling myself a “small business owner.” It’s the one time when the act of selling falafel, building a website or otherwise trying to make a buck comes off as heroic. We’re the “backbone” of the economy, you know, and the “heart and soul of equal opportunity,” as Fran Tarkenton told the Republican convention.

It’s the season when politicians shower us with love and policy papers. Both Donald Trump and Hillary Clinton have put forward proposals to make our businesses great again, together. I prefer Clinton’s, but mostly I think the election-year pandering to small businesses misses what really matters.

 Trump, like most Republicans, focuses on tax relief. He proposes lowering the top rate for pass-through business income to 15%. This doesn’t move me. Why? My company doesn’t earn enough for the proposal to make much of a difference, as is true for most small business owners. The lion’s share of pass-through income is earned by a small percentage of businesses, which means wealthy individuals would catch a giant tax break while the majority of small business owners are unaffected.

Columbus, Ohio: A growing mecca for small business

In a prior life, Joe DeLoss worked as a banking analyst, but today, his day job couldn’t be more different. DeLoss owns the wildly popular Hot Chicken Takeover in Columbus, Ohio, serving up Nashville Hot Chicken, a spicy style of fried chicken.

 But it’s not the leap from banking to fast food that makes his story so interesting. It’s the fact that his two-year-old restaurant is staffed by a nearly 50-person workforce that has largely experienced incarceration. Some employees have criminal arrest records, while others have served time for everything from misdemeanors to felonies. DeLoss admits they might be overlooked by other employers, but he’s a firm believer in second chances. Make no mistake, though; it’s no charity.

“We created Hot Chicken Takeover to be a fair chance employer. A large part of our workforce has been affected by incarceration in the past, but it’s not what defines our future. We have a team that works harder, is more productive and more motivated than most people in our industry,” DeLoss said.


 State lawmakers OK parental leave for small-business workers

SACRAMENTO — California parents who work for small businesses would be eligible for six weeks of job-protected leave under a bill heading to Gov.Jerry Brown.

The bill was among the myriad of proposed laws sent Wednesday to Brown on the final day of the two-year legislative session. Brown has until Sept. 30 to act on the hundreds of bills on his desk.

With Wednesday’s adjournment, lawmakers concluded a year in which they raised the minimum wage, extended greenhouse gas reduction targets to 2030, added gun control measures and approved $2 billion in bond money for housing and treating mentally ill Californians who are homeless.

On a lighter note, lawmakers approved a bill Wednesday declaring denim as the state’s official fabric under AB501 by Assemblyman Marc Levine, D-San Rafael.

 


Small Business Health Coverage And Retirement Plans

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Saving for retirement as a small business owner is hard.  The extra cash is immediately invested in the business, and retirement plans are always for tomorrow.  According to  the Employee Benefit Research Institute (EBRI), many Americans are falling short when it comes to retirement. In 2015, 28% of Americans had less than $1,000 dollars saved, and a whooping 64% had less than $50,000.  While retirement plans are not always available through their employers, many workers should be happy to know that the ease to open a retirement account through other mediums is fairly easy and pain free.

To read more about this topic, follow the links below.


Some Small Businesses Restore Group Health Coverage

Backtracking reflects tighter labor market and pricier individual plans.

Some small companies that dropped group health insurance for their employees are reversing course, driven by a tightening labor market and rising costs and fewer choices for individual coverage.

Laura Cottrell, owner of a seven-person home-furnishings and home-improvement products business in St. Louis, dropped group coverage in 2014, not only because of the cost but also the complexities of picking the right plan within a short deadline. Instead, she gave her employees a raise that they could use to buy their own health plans, sparing her from choosing for them.

Now Ms. Cottrell is looking at adding health benefits to make a cabinetry business she launched this year more attractive to potential employees. If she makes the change, she says she would offer coverage to employees of both of her businesses.

“People are looking for health care,” said Ms. Cottrell, who said she was recently turned down by one job candidate because she doesn’t offer health benefits. Adding to her pain: UnitedHealth Group Inc., her personal carrier, won’t offer individual coverage in Missouri next year.


When can you quit your day job when starting a small business?

Q: When you’re starting a small business, when is the right time to quit your day job — financially speaking? If you’re starting your own business and you plan to take out a loan, should you factor in your own living expenses?

Anonymous business owner.

A: When you are starting a business, your personal finances are inseparable from the business. So you need to factor your living expenses into all your financial calculations.

An exercise I use with my students is to have them calculate their “runway.” It is a simple calculation to determine how long they have before they and the business run out of money. How long before the business has to take off. How do you calculate your runway?

 You begin by estimating the cash needs of the business. This includes investments in property, plant and equipment, lease improvements, inventory and all the other outflows of cash required to get a business off the ground. Don’t underestimate your monthly outflows.


California set to join states offering retirement plans

Workers without a workplace option can now open accounts.

More than half of American workers — roughly 55 million — don’t have access to a retirement savings plan on the job.

While those people can open an individual retirement account with an investment company, less than 1 in 3 American households has an IRAand even then most of those people have access to an employer-sponsored plan such as a 401(k).

This week California lawmakers are expected to vote on a bill that would enroll employees who are not covered by an employer-sponsored retirement plan at work into a state-run one.

Lawmakers in California, the nation’s most populous state, are not alone. Since 2012, more than half of state legislatures have considered bills that would create government-run retirement plans for private-sector workers. (See map below.)


Business News For The Small Business Owner

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It is perhaps the ability of a small business owner to keep optimism at high levels to be able to do what they do every single day.  There is no other people telling you what to do, or what jobs require top priority.    As a small business owner, the credit and blame stop with them.  There is no employee that works in a small business, that is not the responsibility of the owner.  The successes and the failures mean something else for them as well.  To be a small business owner is to be different.  To have the courage to do what many others wish to do, but are afraid to take the first step.  Read more about business news by following the links below.


Abrams: Small businesses have already won the gold

Small-business owners: If you’ve been watching the Olympics, you may be getting the wrong message. I’m here to tell you that you’re winners, even if you never get the business equivalent of an Olympic gold medal.

For the past week, I’ve been mesmerized watching swimmer Katie Ledecky breaking world records with ease. Usain Bolt running faster than any man on Earth, and smiling as he does it. Those amazing, fearless gymnasts, led by Simone Biles, risking life and limb.

But one aspect of Olympic coverage that frustrates me is when someone asks a silver- or bronze-medal winner if they’re disappointed because they didn’t win the gold.

Most of these fantastic athletes react the way American swimmer Nathan Adrian did when asked whether he was upset that he “only” got a bronze. He looked surprised, then, with an endearing grin, he reminded the correspondent that hey, he was at the Olympics and he won a medal. How great is that?


The Truth About Hiring Friends in Your Small Business

Hiring friends must be done with care to be successful.

Small business ideas are often mulled over by friends long before you take the plunge and say, “I’ve made the decision. I’m starting my own business.” Friends’ reactions may range from encouragement to total negativity, but there’s a good chance at least one friend might be interested in working for you or with you.

While mixing business with friendship can work out, many people choose to keep business separate from friendships. Business relationships gone sour can ruin relationships, and some people avoid this risk by starting out with a “no hiring friends” policy. Most people fall between the two extremes of wanting to hire friends and refusing to do so. With strict boundaries, it’s possible to successfully hire friends for your business.

Hiring a Friend Will Be Fine, Right?

Maybe? After deciding to start your own business, it’s intuitive that many people want friends on board to help build the business. And since close friends tend to be vocal supporters of your ideas, and may be willing to work long hours with little or no pay it makes the choice a quick solution.


Aetna ditching 70% of its ObamaCare business

Insurance giant Aetna won’t be offering coverage under ObamaCare next year in 11 of the 15 states it now serves — an announcement that instantly became an issue in the presidential race.

Aetna’s decision led Donald Trump to charge that President Obama’s health care reform was “imploding.”

“Aetna’s decision to leave the Affordable Care Act’s public marketplaces is the latest blow to this broken law that is slowly imploding under its regulatory red tape,” said Trump campaign deputy national policy director Dan Kowalski.

“Millions of Americans have lost their health coverage under this disastrous policy, eliminating their ability to choose their doctors. Thousands of businesses have been forced to cut employment or shutter their doors in response to Obama’s signature achievement,” he added.

The company had previously warned that it expected to lose more than $300 million this year on the 900,000 patients it covers under the Affordable Care Act.

Aetna said it is pulling out of ObamaCare markets in Arizona, Florida, Georgia, Illinois, Kentucky, Missouri, North Carolina, Ohio, Pennsylvania, South Carolina and Texas.