WELCOME

A small business runs into difficulties sometimes. That's a given. When faced with payroll without the cash to back it up, or a machine that needs a part or a tax bill that's been overdue for years, then borrowing is the right thing to do. But when the collection agencies start to hound you, you can be sure they're not interested in the machine part or the tax bill. They just want their money. And rightly so.

It's when they step over the line that you must be extra careful. Being bullied can include threats of litigation, nasty comments on your credit report and phone calls all day and night.

Make sure you write down all that is said on the phone. Also, try to negotiate a settlement while keeping a level head. There are many possible requests you can make that will keep the settlement in your favor.

But you do owe the money. Pay it the best way you can and don't allow the bully to change that.

Libby Beatty, Chair
MBA Board of Directors

NEWSWORTHY

IRS Small Business Health Care Tax Credit Webinar Scheduled for February 16, 2011

The Internal Revenue Service (IRS) has scheduled a free webinar for tax professionals, attorneys, payroll professionals, and small businesses to learn about the Small Business Health Care Tax Credit. The webinar will take place on February 16, 2011, at 2:00 p.m.

Included in the Affordable Care Act enacted in March, the Small Business Health Care Tax Credit is designed to encourage both small businesses and small tax-exempt organizations to offer health insurance coverage to their employees for the first time or maintain coverage they already have. In general, the credit is available to small employers that pay at least half of the premiums for single health insurance coverage for their employees. It is specifically targeted to help small businesses and tax-exempt organizations that primarily employ moderate- and lower-income workers.

Topics to be addressed in the upcoming IRS webinar include:

• Amount of Small Business Health Care Tax Credit
• Who qualifies
• Eligibility rules
• How to claim the credit
• Calculating the credit
• Resources available
  

To register for this event, visit the Internal Revenue Service Webinar Registration Web site.

For more information about the Small Business Health Care Tax Credit, including a step-by-step guide to claiming the credit and answers to frequently asked questions, please visit the Affordable Care Act page on IRS.gov.

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MARKETING

Increase Your Local Reach

Expanding your local reach should be an ongoing part of your marketing campaign. Here are some tools to get your name seen and heard:

1-800-FREE411: This is a form of directory assistance that will connect callers to a specific business or let them find you through a general search at the cost of enduring a short advertisement. The cost is performance-based, but it's free to get your business listed.

Local.com: This site serves as a free search engine for local businesses. You can enhance your listing and receive better placement for a fee. Local.com partners with larger engines and other local search sites so it's good for scatter shot efforts.

Ask.com: Ask.com has a sponsored advertising program that syndicates ads through other sites too. The base for any ad is 5 cents per click and the higher the demand for your selected keywords, the more you pay.

The Season of Savings

Combine the winter season and slow economic conditions and what you'll find are sales and discounts on items you could use to expand your business.

Here are some leads:

• Office Space & Furnishings: Property owners and brokers are eager to move warehouse and retail spaces - many with lease-to-own options. Be sure that you have a legal consultant look over any lease before you sign it. Craigslist, going-out-of-business sales and local auctions are great places to find office furniture, shop fittings and filing systems for little or nothing.
• Equipment: Equipment like trucks and large kitchen items are also being sold and leased at rates lower than usual. Bank auctions and failing businesses are great places to look for these bargains.
• Advertising: The advertising and media industry is selling ad space at its lowest rates in decades. If your ad campaigns were limited in the past, now's the time to expand to radio, magazines and possibly local/cable TV.

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YOUR FINANCES

How to Spot Fraudulent Orders

Today, the large number of telephone and online sales leave businesses dealing with fraud in many forms.

Here are some signs to look for to help minimize the occurrence of fraud (note: none of these signs alone is proof enough that an order is fraudulent, but several factors together are likely reason for extra attention):

1. Unusually large orders placed through the Internet without any contact from the customer.
2. Rush orders for large quantities or high-priced goods. Criminals may ask to have an order shipped overnight so they know exactly what day the order will arrive and they can be waiting to pick it up.
3. Missing information or information the customer refuses to give such as a daytime phone number.
4. Orders that are shipped to a different address than the billing address.
5. Orders from foreign countries.
6. Billing addresses that don't match the information on file with the credit card company.
7. Orders on US cards shipped to foreign countries.

Rethinking Loan Requests

While larger national banks continue to be stingy with loans, small banks and credit unions are trying to pick up the slack giving small businesses a chance to score some funding.

Here are some tips for approaching smaller lenders for a loan:

Sell Your Business/Self: Smaller banks have the advantage of becoming personally acquainted with loan candidates. So, aside from providing a clear, complete and honest assessment of your business, your character and integrity may factor into their decision as well.

Got Angle: Banks have interests and relationships that they want and need to nurture which means that finding a bank or credit union that shares an interest in local issues or a niche in the community could increase your chance of success.

Request a Team Loan: This technique will take some extra foot work but it's worth it. Most credit unions don't deal with SBA backed loans, but you can ask if they will partner with an organization that can procure the loan.

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FOR THE HOME-BASED BIZ

Improving Your Home Biz Space

Whether you're aware of it or not, your home office environment has a direct effect on the quality of the work your do there.

Here are some simple and inexpensive tips to create a more productive and healthy office:

• Outside Inside: By bringing aspects of nature like plants or running water into your office, you can decrease stress levels and increase your focus. Try plants or flowers, a small fountain or a sound machine to lift your office mood.
• Lighting: If there's no natural light in the room, create a functional lighting scenario using diffuse or off-white bulbs to reduce eye fatigue and give a warmer glow to your space.
• Personal Items: Objects that are inspiring or have strong sentimental value can help keep you focused on your goals. Photos of family or of favorite destinations can help revalue your work.

Home Business Beware

A recent survey showed that many PCs and laptops are backed up less than once a month, at most. This means that your valuable home business records are at risk of being lost or destroyed from system failure. The survey also revealed that 80 percent of the participants have lost data that had to be restored.

Recovery can be a time and cost-consuming process. Since your data is an essential part of keeping business records for tax reasons and for accumulating valuable client data, it's imperative that you create a regular routine of backing up your data on your own or with a data storage company.

Trusted and inexpensive data storage companies include Mozy and iDrive.

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IT

Power Up Technology to Get More Done in 2011

Here are some new business tools that have the power to redefine the quality and speed of your business.

Photosimile 5000:
This device is a basically a photographer's light box that allows you to shoot professional quality product images in your own workspace. The box is also designed to let the camera capture a 360 degree view animation of the product. The hardware connects to your computer and the software helps you to adjust settings and get the shot you want.

Plug 'n' Play Femtocell: The idea here is to help create connectivity and combat poor reception with a simple user-installable device. The device can reroute signals from cells and computers on Magic Jack's VoIP discount network. This can mean big savings on long-distance calls and cheaper rates than your current service provider.

Dial2Do: This service provides voice-to-text and text-to-voice services via e-mails and texts that allow you to work on the go while minimizing the hazard. Simply say what you want to do and the service will lead you through a series of voice prompts that helps you complete the task. It's free to try and the service is priced at $3.99 a month and in some cases, even less.

Want Visitors to your Website? Follow These Rules First

Before you think about luring all those visitors/customers to your website, there are some important, but simple, tips to consider first.

Of course, you want to make sure your site is professional looking and polished. That's tip number one. Here are some more:

• Make sure your pages are proofread by at least one other person besides you. Grammar errors and typos are sloppy and lessen the credibility of your site.
• Try to skip the "Under Construction" pages as much as possible.
• Make sure the load time for your home page is quick. It only takes three or four seconds before your visitor is looking elsewhere.
• Easy to navigate are three little words that mean so much.

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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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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.