Cellular Phones On the Rise

For the under 30 crowd, cellular phones are the only means of communication. Many in this group travel extensively and don't want the extra cost of a land phone. More cell phones were sold to this group last year than land phones. Security issues with cell phones are still an issue, but not a major deterrent to buying one.

Health Insurance Costs

The lastest issue of Business Week notes that 35% of small business owners (with 1-199 employees) do NOT provide any kind of health insurance for their employees due to high costs. Those that do provide health insurance are letting their staff pick up more of the cost with higher co-pays and deductibles.

Defensiveness is the enemy of honesty:

Defensiveness is the enemy of honesty. It undermines the authenticity of our relationships and sidetracks discussions that contribute to the bottom line and employee productivity.

Employee Health Insurance

After payroll costs, health insurance is the single largest expense faced by small business owners (Houston Chronicle, (10/12/03)

E-Commerce Still Lags Behind Direct Marketing

According to Inc. magazine, e-commerce product procurement is deemed as very important to only 13% of small business owners. Direct marketing remains the preferred venue for attracting new customers.

Who's Keeping the Books?

According the Inc., the accounting firms keeping the books for small business owners tend to be small: small local firm (50%), regional or national firm (30%), Big Four (20%).

Picking Partners

According to the latest issue of Inc., 58% of new businesses are formed from former business partnerships, 22% from personal friends, and 20% from spouses or family.

401 (k) Loans

Did you know that if your business is incorporated as a closed chapter C corporation and have a 401(k) program, you can borrow from yourself an amount not to exceed 50% of your retirement account or $50k whichever is less with 5 years to pay yourself back at no interest? Not bad if you need an advance to build your business and better than most bank interest rates!

Small Business Owners Income and Job Satisfaction

According to the December issue of Inc. Magazine, small busines owners earned an average of 112k compared to 58k for independent contractors and 45k for employees. They are also more satisfied with their work allowing them to control their schedules, develop new skills, and be creative.

Bankruptcy Up for Seniors

A growing number of seniors over 65 are still in debt with bankruptcy as the last alternative to increasing credit card debt to help out their children and not saving for retirement. The second largest group are those 55-65 who are being laid off or forced to divide the community property, debts included, because of divorce.