WELCOME

Thinking Outside the Box: Low-Tech vs. Hi-Tech

Here at MBA, I get accused of being low-tech, i.e. not wanting to part with my pile of papers and unable or unwilling to grasp the new electronic concepts. Not growing up with this out-of-space cyberspace has naturally precluded me from being cyber friendly. At least that's my excuse.

Gratefully, there are those around me that drool over the latest software and are eager to learn new ways to incorporate hi-tech into our ways of doing business.

We've now included MySpace in our efforts to encourage members in every way possible (see below). And "IT" discoveries are right up there too in our plans to move the small business spirit forward.

That's I - T which stands for Information Technology. (I looked it up.)

Libby Beatty, Chair
MBA Board of Directors

NEWSWORTHY

POLL: Is MySpace Your Space?

Our online presence began with www.mbainc.org. Today, we're proud to present www.myspace.com/midlanticbusinessalliance.

Why MySpace do you ask? We see huge opportunities offered by social sites like MySpace to widen the network for our organization and ultimately for you our members.

But we're curious, so we're taking a poll. Do you (or does your business) have a spot on MySpace? Yes or No or Not Yet.

If you do have a MySpace, drop by our site and make us one of your friends, so we can begin working together to increase our online network.

What we've found interesting so far is that there are some similarities between building a successful MySpace page and running a successful business. After all, it takes the support of family and friends to get a business up and running. And to find success on MySpace it's all about your "friends."

CORRECTION:
Minimum Wage Update

Please be aware that our recent article on the increase in minimum wage did not include the rate for small businesses with the equivalent of 10 or less full-time employees.The increase schedule for these businesses is as follows:

1. $6.65 per hour effective July 1, 2007
2. $7.15 per hour effective July 1, 2008
3. $7.25 per hour effective July 24, 2009

Download the free poster which lists all exceptions to the increase from the Pennsylvania Department of Labor & Industry's website.

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MARKETING

"Swipe Files" Offer an Edge for Copywriting

If you ever have to write sales letters, copy for your company's promotional materials or advertisements you should make yourself a swipe file. How do you make a swipe file, you ask? You create a swipe file by swiping and collecting copies of other companies' marketing materials.

But be careful. When using materials from your swipe file to create a piece, what you should be swiping is the concept, not the actual execution of the concept. As common sense probably tells you, if you copy something exactly it would be considered copyright infringement.

Any business that produces marketing materials can benefit from a swipe file. Your swipe file should include sales letters, brochures, web copy, envelope teasers, product sheets or any marketing materials that catch the eye and inspire you to produce something on your own.

A Logo Is Worth a Thousand Customers - At Least

A company logo needs to be unique and memorable. This form of branding has a strong effect on the memory, shows consumers the "personality" of your business as compared to your competition.

So what goes into creating the perfect logo? Skillful and experienced designers are not enough. What you need is someone who understands you and your business. Be prepared, a good designer will ask many questions.

So don't show up for an interview unprepared. Do some research and planning on your own. To check out some possibilities and help you get a vision, browse the graphic design section of your local bookstore or do some online research into trends at sites like www.logolounge.com.

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YOUR FINANCES

The First Business Loan Dilemma

By Joe Mack, Account Executive, Sun East Federal Credit Union

After developing your idea for a great small business, comes the inevitable question: How am I going to pay for this? Many small business starters have asked the same question and have found very few answers. Without years of business banking history, it may be difficult to secure business lending.

Home equity loans and home equity lines of credit offer the best options in these situations because of quick approvals and tax advantages to the borrower.

You should consult your tax advisor on the benefits of these loans. And realize that there is a risk to going this route if your business does not take off. Your home is your greatest asset, so make the decision carefully. With a great business plan, hard work and a little luck you will be on your way to the next big thing.

MBA members, their employees and families are eligible to join the Sun East Federal Credit Union. Credit union membership is free and a great way to increase your employee benefits. Joe Mack can be reached at (610) 485-2960 Ext. 217 or Jmack@suneast.org. Visit www.suneast.org to learn more about credit union membership.

Does Your Business
Have a Disaster Plan?

Your small business disaster plan should cover protecting human resources, protecting physical resources and planning for business continuity:

Protecting Human Resources:
Be sure to create a plan to deal with any workday "disaster" that may occur. Be sure to address: where employees should meet if the building has to be evacuated, how you assure that all employees are accounted for, what safety measures should be taken, who is responsible for contacting the fire and/or police departments, are any staff certified to perform basic first aid, etc.

Protecting Physical Resources: If your building is leased, you will need to work with your landlord to develop a solid property protection plan. Also develop a plan to help protect the physical assets (furniture & computers) of the company within your space. If you own the building, consult with an engineer or architect about what precautionary measures should be taken.

Planning for Business Continuity: Ensure that vital information and electronic records are protected. Consider keeping a copy of your computer backup off-site. And be sure to create a plan so you can continue to receive and distribute goods and services in the aftermath of any disruption.

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HUMAN RESOURCES

What's Your Paid Time-Off Policy?

A paid time off (PTO) policy is usually a collection of days that includes sick time, personal time and vacation time to be taken off at the employee's discretion. Many businesses utilize PTO policies because they offer employees the benefit of flexibility between work and personal life while avoiding situations where dishonesty is allowed.

Another advantage is that employers gain some control over unscheduled absences. The downside is that employees who had not used sick days previously may feel obliged to take advantage of the policy and use more time off.

Sites like Salary.com can offer some helpful hints if you are considering implementing or revising your company's PTO policy.

Taxes for Aliens?

The IRS Individual Taxpayer Identification Number (ITINs) is a number given to resident and nonresident aliens. The IRS warns that you should not accept an ITIN in place of an SSN for employee identification or for work.

ITINs are only issued to resident and nonresident aliens who are NOT eligible for U.S. employment. ITINs are provided to these individuals for other tax purposes.

You can identify an ITIN because it is a 9-digit number, beginning with the number "9" and is formatted like an SSN (NNN-NN-NNN). When an individual with an ITIN later becomes eligible to work in the United States, they must obtain an SSN to be employed legally.

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IT

Small Business Computer Protection Like the Big Boys

When TrustELI developed ELI (Electronic Lifestyle Integration) to help protect small businesses they did so with the credo, "You set it and forget it." Security appliances like ELI have been used by large companies to ensure that their web space stays clean and clear of distraction since the inception of Internet servers at work.

Now, small companies can purchase a simple "plug and protect" appliance, pay a low, monthly monitoring fee and get antivirus and anti-spyware protection, firewalls, e-mail screening and web-content filtering controls. It checks your system daily and updates content, spam and virus filters.

Save the Earth:
E-cycle your E-waste

With almost daily advancements, enhancements and upgrades to the gizmos upon which we rely to run (and organize) our lives, it seems they are often outdated before we get them out of the box. Following are a couple of examples of organizations that are trying to offer your old thingamabob a healthier home than in the local landfill.

The Rethink Initiative is working to make it easier for consumers to make decisions that benefit the environment regarding outdated technology and electronics. Their website even offers some ideas for you to make money from your old doohickeys.

Hewlett Packard is also offering a page dedicated to the return and recycling of old and unwanted computers. Again, there are some options available for turning units into cash.

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NEW MEMBERS

When our member base increases there is more of everything: more creative networking, more benefits and more experienced, enthusiastic business owners. All which move our members toward growth, success and the entrepreneurial spirit.

Click here to meet our newest small business partners.

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MBA EVENTS OF INTEREST

Simple Stress Busters

The pressure of balancing business and family priorities can lead to stress and sometimes even burnout. Don’t let these tasks cause you to have a meltdown at the office or at home. Discover tricks for keeping your cool no matter how overwhelmed you feel.

Wednesday, August 22, 2007, 6:00 PM to 8:00 PM

Click here to learn more.

MBA Summer Networking Luau Is Back

Aloha. Whether you're looking for new customers, an opportunity to talk business or a chance to rub elbows with a beautiful celebrity, MBA's luau is just the place on a warm summer evening.

Enjoy complimentary food and beverages while chatting with your prospects and Rachel Brooks, Miss Pennsylvania 2007 along Manayunk's Main Street. Miss Brooks will be mixing and mingling with attendees for autographs and photos. And, the Manayunk Brewery and Restaurant has reserved their upper deck for our event. What a great way to do business!

And there will be games and prizes for fun too! "Hawaii Ponoi" is the state song of Hawaii. Translate "Hawaii Ponoi" at the event and enter our special prize drawing.

Thursday, August 16, 2007
6:00 PM to 8:00 PM
Manayunk Brewery & Restaurant
4120 Main Street, Philadelphia, PA 19127
Click here to register

Vending tables are still available at this event. Come show off your stuff to fellow businesses. Click here to reserve your spot.

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Sponsors of MBA's AR Online Newsletter

Sun East Federal Credit Union

(610) 485-2960
Offer a great employee benefit

Barbacane, Thornton & Company

(302) 478-8940
Tax planning, prep & problem resolution as well as accounting and payroll - free consultation

SysONE Solutions LLC

(610) 338-0356
Computer & networking support

Unless specifically indicated, MBA does not intend mention of companies, products or services discussed in this publication to be construed to be endorsements. The information in this publication is offered as examples that may be useful to our small business readers. Please consult with an industry professional before implementing any of the tips or subscribing to any of the services described above.