Every home needs a spring cleaning and a business is no different. The constant influx of paraphernalia that accompanies any business can grow into an oppressive mountain of the unused and unwanted. There are other larger issues that might also be bloating your business, such as staff that you may be keeping on for sentimental reasons. A cull can be painful, but your business and mental state will benefit in the long run. Continue reading
Traditional practice and descriptions of business development are more concerned with marketing techniques to grow an enterprise. Most of the focus in these techniques centers on traditional marketing techniques with a strong emphasis on customer acquisition, (finding and reaching customers), and customer retention (keeping customers satisfied).
New business techniques focus more on going beyond the product and service that a business offers. It also encompasses advice, delivery and adapting to the customer’s needs. New business techniques are therefore concerned with an enterprises service and or product, marketing and design of a business model. Continue reading
Changes in credit card processing are coming. The three items above are not all the same thing, but they are related. First, an explanation, then, what merchants need to do, and finally, why you should care. (Hint: There’s a big liability issue.) Continue reading
Your eCommerce store is growing! That’s a good thing, right?
Well, for the most part, darn right it is. But as you’ve probably noticed, as your little online store grows up, so does the complexity of running it behind-the-scenes. And one of the most complex aspects of running a thriving online store is dealing with sales tax.
Today we’ll help you pinpoint some of the more onerous aspects of handling sales tax compliance in your growing eCommerce store, and what you can do to put a lid on sales tax.
Problem: You have sales tax nexus in multiple states
Let’s say that when you started your business you lived in and ran everything about your business – sales, fulfillment, customer service – out of your garage in California. Sales tax in this instance is simple. You have sales tax nexus in California and must collect sales tax from buyers in California. If you sell to a buyer in another state where you don’t have any significant connection, like Virginia, then you don’t collect sales tax. Simple, right? Continue reading
From our friends at Sollertia:
‘Working capital’ is one of those phrases frequently used in business, but often misunderstood. With this in mind, we at Sollertia thought it was about time somebody put a really good infographic together on the subject.
What is working capital?
Put in its simplest terms, working capital is the money to which a company has immediate access. When valuing itself, a firm may include the land and property it owns, along with fixed assets like machinery. These have value of course, but the cash is locked up in them, so getting access to it would take time and involve major changes.
Calculating working capital means weighing up your current assets against your existing liabilities. It might sound complex, but the infographic gives the lowdown on how you should go about this, and what you should and shouldn’t include. Continue reading
Productivity is at the heart of any successful business and taking steps to improve the efficiency of your work force might be easier than you think. If you think your work environment could do with a shake-up but don’t know where to start, you’re in luck. We have put together a list of 5 ways you could boost your business productivity with very little effort. Sounds good, right? Keep reading to find out more: Continue reading
Payroll may seem like a straightforward topic, but there is a lot more to it than just tracking hours and cutting checks. Unfortunately a lot of small business owners don’t realize that and, before they know it, they’re up to their ears in tax forms and reports they’ve never even heard of. Calculating, and staying on top, of payroll can actually be pretty complicated, especially if you don’t have a background in accounting. So what do small business owners absolutely need to know about setting up a payroll system?
You must withhold taxes
The federal, state, and local governments can all levy tax on income, and it is your responsibility as an employer to withhold the necessary amounts from your employee’s paychecks and send that into the proper agency. Continue reading
Still haven’t taken the time to set up a blog for your business? Many people assume that blogs are used strictly for personal purposes, sharing with the world your political views and movie criticisms. While many blogs fall under this category, they can also by businesses for commercial purposes. Continue reading
Building your brand is a huge step in starting a small business. Once you’ve gotten all the funding you need, hired your staff, and done the paperwork, the next step is getting the word out! Your brand tells your customers who you are as a business, which is why it’s so important to take the necessary measures to protect your brand once established.
We asked our small business experts how they got the word out about their brands. Here’s what they had to say… Continue reading
Owning your business means having control of where, how and when you work —but only to the extent that you’re armed with the tools that facilitate such flexibility. Here’s a look at some of the benefits payments on the go can offer your business model. Continue reading