Small business owners see no light at the end of the tunnel for health care.  Health care is the second highest expense for most small businesses, after employee wages.  The health care dilemma is causing many small business people to pull out their hair. Although employee health care probably won’t be mandated for the smallest of businesses (those with under 25 employees), not having health care will mean not being competitive for jobs with larger employers.  Many of us small business owners need the coverage ourselves, and high health premiums can put us out of business. We have few options, none of which is attractive. What are the small business health care options? If you don’t have employees, you can rely on a spouse or... [Read more]

There is strength in numbers, but only if those numbers join together.  The U.S. has about 26 million small business owners (defined as having under 500 employees) but there is very little in common between these businesses.  Of the 26 million, most (about 20 million) were solo businesses, with no employees.  That is a lot of one-person businesses! The average income for these solo small businesses is under $10,000 in annual receipts.  Not a wealthy group, by any means.  Small businesses struggle in the best of times, and these certainly aren’t great times for business.  And it is difficult for small businesses as a group to be heard and to have issues understood by local, state, and federal government entities. Imagine what power... [Read more]

Today’s Sunday Saying: “There’s a lot more business out there in small town America than I ever dreamed of.” Sam Walton. When I talk to people who are considering where to start a business, I try to steer them to a small town.  I know I am biased – I grew up in a small town, and I love the feel and the workings of a small town.  I have lived in big towns and small towns and I will take a small town any day. Besides the quality of life in small towns, there are other reasons why small towns are great for business.  In just about any small town, you will find friendly people.  These are people who will welcome your business, as long as you provide something of value at a fair price.  It sounds really too simple, but... [Read more]

Many small solo business owners I know run their businesses from a laptop.  If  you don’t have employees and you work from home, or on the road, why not? With the availability of wireless communications and the computer power of laptops,  you can do just about anything with a laptop that you can do with a PC. Benefits of Running Your Business on a Laptop It is convenient, easy to transport from room to room or from home to office.  Everything is in one place, so you don’t have to switch files back and forth.  You know your software is compatible, because it’s the only software you have. Laptops are often less expensive than PC’s. Disadvantages of a Laptop-Based Business You must plug in and out of the laptop every... [Read more]

If you are unemployed, semi-retired, or just ready to get out of the corporate rat-race, you may be thinking about starting a business of your own.  Maybe you are thinking about a home based business or a franchise or a simple store-front or online business.  But before you take that leap, there are some critical things you will need to protect you and your family. In other words, before you jump into that business, you need a parachute. Insurance. You will need insurance, primarily health insurance.  If your spouse works, or if you have health insurance as a retiree or from some other source, you have this covered. If not, you will need to find insurance. You can buy health insurance and consider it a business expense, but check with a tax... [Read more]