August 2007
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Day August 2, 2007

Live Chat – What Congress is Doing for Small Business

Anita Campbell of Small Business Trends announced on her blog that Sen. John Kerry, Chairman for the U.S. Senate Committee on Small Business and Entrepreneurship, will hold an online chat on Thursday, August 2, 2007 at 2:00 p.m. Eastern time.You can ask questions in advance on the web and listen to the chat here.

How volatile is your business?

It is starting to look like the data at least in part supports this view...."This is good news for small businesses, like home-, micro-, lifestyle-, mobile-, SME-, SMB-, SOHO-businesses and personal business, like contractors, freelancer, self-employed and virtual assistants. Maybe the time has finally come when the big boys are seen for what they are, by that I do not mean they are bad employers, but that they are not any better than small business, just different.

Sir Elton is thinking that…..

Zoli has a fun post on Elton John:“I do think it would be an incredible experiment to shut down the whole Internet for five years and see what sort of art is produced over that span."Elton will know what Balderdash means.

No Pension plans for SMB Employees and Owners

This is however not a new trend and in fact a 2003 Small Employer Retirement Survey reported that a majority of SMBs have no pension plans to offer their employees and the main reasons for this were low income or turnover, costs involved, short term employees, and administrative hassles. However if small business, like home-, micro-, lifestyle-, mobile-, SME-, SMB-, SOHO-businesses, are to grow well and ensure that their employees also do so they will need to start focusing on helping them gain a secure financial future.

Want to waste some more time before you start your business?

Remember one of the main reasons that many small businesses across a globe close down is that they did not anticipate the cash or finance they would require to get their business up and running and give it a fair chance or to put it more plainly - they simply run out of money.It is important to understand the cash flow in the business and hence you must have an accounting system with integrated cash-flow forecasting in place, that does away with the need to pen down expenses and credits and allows you to go through your financial details in a comprehensive manner.... I would do a SWOT analysis, SWOTs are:Strengths: attributes of the business, products or services that are helpful to achieving the objective.Weaknesses: attributes of the business, products or services that are harmful to achieving the objective.Opportunities: external conditions that are helpful to achieving the objective.Threats: external conditions that are harmful to achieving the objective.I also add a little list of what I want to achieve with my business, no more then five points each.

Are you in a niche?

Whether you sell on eBay or eventually decide to open your own online store, it is a great idea to have a web office where you will have all the crucial data about your business available at the click of a mouse.... Such an online office should be able to take care of your accounting and such business needs and help you focus on your main task or hobby, discovering beautiful treasures and finding a market for them.Online is a great place to be with a "niche" business, you are easily accessible and word of mouth works well with "niche-businesses" - these make great personal businesses and small businesses, like home-, micro-, lifestyle-, mobile-, SME-, SMB-, SOHO-businesses.

Why businesses fail and go bust!

While the government passed the Late Payment of Commercial Debts (Interest) Act 1998 to protect the rights of businesses, not many businesses actually use it.Small business, like home-, micro-, lifestyle-, mobile-, SME-, SMB-, SOHO-businesses are losing out due to the chaos created in their cash-flow but also on precious funds that they could have charged clients for late payment.... They are effectively financing their clients business and should charge interest on money owed in excess to what their bank charges the business.You can always outsource your bookkeeping and credit control function, use a virtual assistant and WinWeb's On-Demand Small Business Infrastructure approach to solve this problem - you want to stay in business (?)

WinWeb Business Cloud - Creating Financially Sustainable Businesses