WELCOME

Our last issue of AR Online outlined the agenda of MBA's special event held on February 23 and, due to the efforts of many, it was a success.

"Fired…What Next?" followed our planned schedule of speakers, Q & A's and a sponsored lunch. Recognizing the significance of offering a business start-up workshop and lunch at no charge, we would like to thank the following companies for their contributions: The Administrators, Inc., USI Affinity and Mike Yates State Farm Insurance in King of Prussia.

If you missed the workshop and would like to ask a question based on the following subjects, MBA would be pleased to pass your inquiry along to the presenter involved.

Thanks to the following presenters/members who volunteered their time, ideas and knowledge. Hopefully, the information offered will have a significant effect on all who were present.

"Starting a Business" presented by Stephen Markowitz

"Taxes and Other Money Matters" presented by James Scully, CPA

"Marketing without Money" presented by Paul Miller

"Keeping the Momentum" presented by Kenneth Abrams, executive coach

Please feel free to send an e-mail with your question to info@mbainc.org, we'll pass it along and get you an answer.

Libby Beatty, Chair
MBA Board of Directors

NEWSWORTHY

Keeping an Eye on Creditors

New restrictions on credit card providers were passed in Congress last May and became effective March 1, 2010. The long awaited reforms to the Truth in Lending Act will protect consumers from interest hikes on existing balances if accounts are paid on time. It will also require creditors to give clients advance notice of at least 45 days for rate increases and most fee changes.

This is good news for consumers, but some business owners feel that exclusion from these regulations will make them vulnerable. To add to that concern, creditors have begun reporting credit information from business cards to credit bureaus. This means that excessive business spending could affect personal credit more than ever.

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MARKETING

Putting the "Wit" in TWITTER

If you haven't yet used Twitter to supplement your marketing and customer relations efforts or if you simply want to step up efforts, here are some ideas:

Contests: Contests create an incentive for people to get involved, and Twitter makes participating fast and easy. Contests like scavenger hunts or product/service ideas are great ways to stay in touch, to keep your business on your followers' minds and to gather valuable data.

Sales: Tweets allow you just enough space to announce "last minute" sales and include a link to the item on your website. Time-sensitive sales announcements can help motivate buyers and the ease of clicking a link to see the product can boost conversion rates.

On the Go Info: Mobile businesses or businesses that host events can use tweets to give customers updated information about locations and times without missing a beat.

Stop by MBA's Twitter page and sign up to follow our tweets!

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YOUR FINANCES

Taxpayer Advocate Service: Speak-up and Be Heard

Sometimes dealing with the IRS can make you feel as though you don't have a voice - but there is help for working through your tax issues. The Taxpayer Advocate Service (TAS) is an IRS program that acts as an independent system to help solve your tax problems.

Aside from helping individuals with tax issues, the program also takes an active approach to uproot the systematic flaws that create problems for taxpayers and the IRS. The TAS webpage has links to clinics and panels where you can have your voice heard.

TAS can be reached at (877)777-4778 or by calling the IRS at (800)829-1040 and requesting the TAS.

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FOR THE HOME-BASED BIZ

Help for Your Home Business

When the success of your home business demands additional assistance, sometimes you don't have to look very far to find help. Here are some ideas for people and places to consider:

Family: Often members of your immediate family and children are great prospects for helping with your business. There are also tax advantages to having them on payroll. Be sure to keep complete records of what they do, however, for tax purposes.

Local Students: High-school and college students are often happy to intern for experience. Guidance counselors, college bulletin boards and community centers are good locations to scout out this type of help.

Other Home Based Biz: Connecting with other small or home-based businesses may help in areas where you need it most. Use the Member Directory portion of MBAINC.org to find help with accounting, marketing, websites, business or secretarial services, etc.

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HUMAN RESOURCES

Perking up Your Employees

Employee perks can help keep your staff productive and also can serve to attract prospective hires to your business. Here are some inexpensive ideas that can help boost morale and keep your retention rate solid:

Direct Deposit: This option gives your staff the chance to have their paycheck deposited directly into their bank accounts. It saves them a trip to the bank and often gets them their pay faster.

Title and Card: Giving employees a formal title and a business card can make them feel like a valuable member of your team. The cards can also be viewed as a marketing strategy, doubling the cost-effectiveness.

Interest Free Loans: If it's within your budget, consider offering interest-free or low-interest loans for cars, computers or continuing education. The payments can be automatically deducted from paychecks. Just make sure that you create a formal contract that outlines the policy and the loan amount and timetable.

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IT

Change Is in the Air

Having the ability to convert PDF files to Word documents can be a real time saver - especially when someone else is doing the work. NOTE: Like other tools of this nature, you won't be able to replicate the exact formatting and appearance of the original PDF file.

The PDF to Word service is free and easy! All you do is select the PDF you'd like to convert, pick the format you want it in and give the e-mail address where you'd like it to be sent. The converted file will then be e-mailed to you as an attachment.

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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 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

Business Boosting Networking Event

Join us for bagels, coffee and business, and bring plenty of business cards!

Wednesday, March 17
8:30 to 10:30 AM
MBA Conference Room - Broomall, PA

$5 for members,
$15 for non-members to attend,
$30 for non-members to attend and join MBA

Click here to register.

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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.