Small Biz Tip: Start Up Concerns: Marketing Budget

Tips from November 3, 2009 The Small Business tips today discuss a marketing budget for start up businesses. Plan for travel expenses, phone bills, commission to reps, and other hidden costs that comes with marketing. Determine how much you need to sell in order to make sales projections. Give yourself a cushion, allocate extra money towards marketing. Inventive and unique product lines generate free word of mouth marketing, saving marketing money. Allocate that money towards the actual product. Determine your target audience and market to them. Direct promotion helps you stand out and use your money more efficiently.  Daily Overview: Allocate a portion of your budget to marketing. Keep sale projections, product lines and techniques in mind. Don't throw your money into the wind without a good idea of where it's going to land. [Read Full Article]

Small Biz Tip: Money Management: Take a Step Back and Readjust

Tips from June 30, 2009 The Small Business tips today will be about taking a step back and readjusting how you manage your business. If things are slow, change your look and feel about your business.  Keep your business updated with current times and trends to catch potential customers' eyes. Ask for feedback from customers about what can be done to update your business.  Loyal customers can give a great response as they are dedicated to your business. Recalculate your budget.  Some of the money you thought was a good idea to spend in one area may be better in another.  If needed, write up a modified budget and think about how you can save. Keep track of your office supplies.  Take inventory and cut back on your overstocked supplies and focus your money on purchasing the essential ones. ABC members have discounts on thousands of products at Staples. Go to [Read Full Article]

Waiting for SBA's Stimulus

  Government and Economy When Will the $730 Million in SBA Funding be Spent? The Small Business Administration is getting a much-needed financial shot in the arm from the stimulus bill, but local leaders and business owners are still waiting to see how that funding might help them. Nation’s Economic Woes Likely to Spur Climb in FraudKroll Global Fraud Report says companies with high employee turnover and weak internal controls are more vulnerable, while high-risk business ventures also lead to more corrupt business practices. WorkForce Management Management and Financial Issues [Read Full Article]

Small Business and the Federal Budget

  Government and Economy Obama's Small View of Small Business When it was released, the budget President Obama unveiled sparked a war of words all over the capital. The disagreements were so profound on a host of topics—including small business—that it’s almost as if people were looking at two entirely different documents. Reuters/Front Row Washington blog SBA's 'Goodwill' Leaves Much to be Desired Business brokers are worried that the SBA's new loan cap rule will jeopardize entrepreneurship. Management and Financial Issues [Read Full Article]

Sales Tax: How Will it Affect You and Your Business?

With most prices on the rise, many people are probably thinking, how can it get any worse? Well it can. In Illinois, on July 1, 2008 Cook County's sales tax has gone up to 10.25 percent which is now the highest of any major city in the country. With our struggling economy, no county in the United States is safe from increasing prices including sales tax. Todd Stroger is currently the Board President in Cook County, Illinois. The reason behind the tax increase in Cook County is to fund the Stroger Administration's massive $150 spending increase over last year's budget which includes more than 1100 new county employees. So where is this massive amount of spending money going? Well, the Daily Herald newspaper explains claims that Stroger promised during his visit to Palatine and whether or not they actually are true. A truth behind what Stroger said is that Cook County provides police patrols, plowing and road services, Vista Health Care clinic services, infectious disease control and many oth... [Read Full Article]