Once a week, BizEngine will deliver a roundup of small business news and advice from around the nation.
Don’t Overreact To Crises
It’s not the newsiest thing out there, but it’s sound advice. In the end, I suspect the latter is more valuable to your business.
When your company is hit with a disaster of some sort—hell, high water, a major supplier lost, etc.—it’s easy to react with strong, decisive action. Many executives build their reputations around doing something when things go wrong, and many times it’s that quick action that saves a company.
Not always, though. Sometimes, the worst thing you can do when your boat is headed toward waves is to veer off into the rocks. CBS News has an excellent look at five things you should never, ever do in reaction to one of those crises.
I don’t want to take away eyeballs from their site, so I won’t repeat the list here. I will say that my personal favorite advice for small business owners rears its head here, in the form of the admonishment that you should not make change just for change’s sake.
Ultimately, you wind up doing more damage if you’re shifting the landscape of your business when such shifts aren’t required, as it can cost you money, require re-training your employees and change the way you work with customers. Sometimes it’s better to just weather the storm.
Be sure to check the link!
Giving Small Business Saturday A Boost
How will the payroll tax cuts affect you? Business News Daily tries to answer that very question.
There’s a debate raging in Congress—I have a feeling I won’t be retiring that sentence anytime soon—and it’s regarding whether to extend the payroll tax cuts. There’s legitimate discourse on both sides, but from your perspective as a small business, there’s only one thing that matters.
If these tax cuts are not extended by December 31, it will wind up not saving you any money.
Under the legislation proposed by President Barack Obama that is currently in Congress, small business owners would receive a tax cut on their first $5 million in payroll, which would result in qualifying businesses paying 3.1 percent tax in payroll expenses in the coming year. During this past year, employer contribution to these payroll expenses stood at 6.2 percent. If a deal is not struck by the deadline, the tax contribution for employers would remain at 6.2 percent.
I don’t often urge you to go out and advocate strongly for stuff, because Congress is a morass and I know how little time small business owners have. But if you can save your small business some money by having this go through, you owe it to yourself to send a letter or make a phone call to your local representative.
Good luck out there.
Making Your Prices Public
A good reason to post your prices on your company website. Heck, we’ll throw in three good reasons!
Photo credit to iStock