In February, America celebrates and remembers the important milestones highlighted during Black History Month. Throughout our nation’s history, we have been united and inspired by the uniquely American dream that every person, with hard work and dedication, has the potential to achieve remarkable things.
Late last year, I hosted a web chat with the SBA offering holiday marketing tips and ideas to small business owners. And while many business owners submitted questions relating specifically to the holidays, a large percentage of the questions centered on that age-old question: “How do I get more foot traffic to my store?”
Here are seven tried and tested steps you might want to consider:
1. Start from the outside and look in
A major revision in the U.S. Small Business Administration’s Surety Bond Guarantee (SBG) Program more than triples the eligible contract amount, from $2 million to $6.5 million, the Agency will guarantee on surety bonds for both public and private contracts.
What does this mean for small businesses trying to grow?
A Los Angeles subcontractor for example, was looking to take on bigger jobs and grow its business, but needed a much larger bond to bid on and get a contract that was larger than past work it had performed.
If you’re thinking of becoming the owner of a franchise-type of business, there’s something you need to know about franchising…and you may not like it.
Now, what I’m about to share probably won’t be a game-changer if you’re really bent on buying a franchise, but you need to have as much factual information on this business model before you invest in one.
You’re going to have certain restrictions placed on you.
Do you run an overseas business? Thinking of expanding and selling into the U.S. market?
Because U.S. residency or citizenship is not required, non-U.S. citizens can readily sell into the U.S. However, many overseas business owners aren’t clear on whether they are required to incorporate in the U.S. and the associated tax implications.
Here’s what you need to know:
Should I Incorporate My Business in the U.S.?
This is a question that comes up frequently on the SBA Community Discussion Boards and there’s not a clear cut answer for all businesses.
We all have questions about the Affordable Care Act, whether it's deciphering facts from myths or trying to understand what your options for health care coverage are now and in the future.
Note: This post is authored by SBA's Presidential Innovation Fellows - Clay Johnson, Jed Wood, and Adam Becker.