Ask The Expert
By The following Q&A is meant to help you understand a banker’s thinking so you can increase your chances of securing the capital you need.
Bank lending to small businesses in today’s credit squeezed environment is becoming a rare commodity even though the Small Business Administration (SBA) received hundreds of millions of dollars from the stimulus package.
Q. How do I improve the relationship I have with my banker so that he will either increase my current loan limit or approve my loan request?
A. The first key point to always keep in the forefront of your mind is that your …
Creating Your Business Metropolis
How business owners can utilize a §1031 exchange
A business owner’s proverbial journey to Ithaca often begins at home. Tucked away next to a kitchen, the entrepreneur creates the enterprise in a small office. Toiling for a period, the odyssey continues, and he eventually purchases a small facility as business prospers. Operations continue at this facility until the entrepreneur develops grandeurs of conquest and greater glories. He spies a larger complex that will fulfill his desires of expanding his empire. Alas, there is only one problem—the fear of taxes in the form of capital gains! In answering the Sphinx’s riddle, …
Google spam traps: Don’t let them catch you!
Keeping your Web site in compliance with the latest search engine policies will help keep you well away from those nasty Google traps.
Many small business owners create a Web site because a colleague, family member or client recommended they do so. Unfortunately, instead of finding a knowledgeable professional skilled in Web site copywriting, design, usability, search engine optimization and search engine marketing, small business owners delegate the task of creating a site to a current employee who has limited knowledge of the Internet. While this may be passable for a time, eventually, inadvertent mistakes will be made that can …
GPS for retirementville
Every business owner knows that running a business is more than a full-time job. Depending on the size and structure of the business, an owner may serve as everything from salesperson to production manager, to office manager, to client services representative and then some. With all of that on their plates, it’s no wonder successful owners soon learn setting priorities is essential to success. So many business owners get caught up in the necessity of maintaining the profitability of their business, especially in today’s economic climate, that they tend to overlook the need to plan for their eventual exit from …
Fico Schmico
Why should you care?
Leo Rosten, New York playwright, tells a story regarding a lady who had, for some time, frequented the same restaurant. On one particular occasion, the lady visited the restaurant, sat at her usual table and was served by her usual waiter. The waiter first delivered the salad, which the lady ate. The waiter then removed the remnants of the salad and, as usual, placed before her a hearty bowl of chicken soup.
As the waiter walked away, the lady called out, “Waiter!”
“How may I assist you?” replied the waiter.
“Please taste this soup,” said the …
What Lies Beneath
Where is your company’s value lurking?
In combination with mapping the value of the entity or benchmarking, an owner must ascertain other aspects of the business that differentiate it from the pool of existing industry participants.
A professional business valuation, conducted by an objective expert, is the vehicle that identifies where a company’s underlying intangible value is lurking to help sellers increase shareholder wealth, as well as obtain a better deal price and identify strategic buyers.
In some cases, the intangible value of the business is far more valuable than the actual tangible value of the business. There are two …
Caring For A Disabled Relative
A trust is beneficial when trying to cover extra expenses not covered by the government benefits program
Caring for a family member with a disability and planning over his or her lifetime is an enormous responsibility. Setting aside the emotional anguish involved in caring for a disabled loved one, the financial burden can be just as distressing.
According to the Ministry of Community and Social Services in Ontario, Canada, approximately 4.4 million people in Canada have disabilities. This represents 14.3 percent of Canada’s population. Projections show that by 2021, seniors with disabilities will outnumber 25-64 year olds with disabilities. In …
Cashing Out Effectively
Using transactional tax planning to transfer ownership of your business the right way.
For a business owner, the decision to transfer ownership of a business is arguably the biggest decision that a person will ever face. Whether the owner is deciding between various offers from an outside party or determining which family member is the best choice to take the business successfully into the next generation, the decision-making process can be arduous from beginning to end and include factors known and unknown.
Owners worry if the buyer is the right person or right fit for the company and the employees. …
Hiring In Today’s Market
Will it be easier for companies that are hiring to find the right person?
Due to the recent slump in the job market, the pool of candidates an employer has to choose from is growing significantly larger. Therefore, the question then becomes: will it be easier for companies that are hiring to find the right person? Typically, the answer to that question depends on the kind of position employers are looking to fill. For example, 20 percent of employers in the manufacturing sector plan to increase hiring. In addition, 19 percent of employers in the service sector plan to increase …
Plagiarizing Online Bytes
One of the most valuable components of a business’ online presence is the unique content of its Web site.
The search engines view quality, unique and relevant content as the pot of gold at the end of the rainbow in terms of search results. When search engines find pages containing this unique content, they will display it prominently for search terms related to the page. Therefore, business owners should guard their content from online content thieves with the same vigor as a greedy leprechaun guarding his shiny coins from voracious treasure hunters.
For example, if you have written an in-depth …
