Helpful Cost Cutting Tips For Small Business Owners

The secret to having a successful small business or home base business is to create a new way to monitor costs. You also need to realize that business spending can sometimes immediately increase and also decrease the income, and your business will not see any progress.

Most of the business owners realize that they generate income from the business, but they do not recognize where the money spent to. This problem will definitely affect the cash flow of their businesses. Successful business owners know that they have to regularly review their expenses within certain period of time. From this action, they are able to arrange the cash flow smartly and create more saving in their business.

You may review below lists for your consideration in creating good cash flow on your business.

- You can purchase the last year model of your operational needs such as computers, fax, furniture, or others for your office because these needs will always be newly produced by the manufactures every year and the costs of buying them will be higher. From here you can do the saving of you operational needs.

- You can start to purchase stocks in larger quantities and buy them in advance. Larger quantities means lower costs. Repurchase your needs before the stocks run out. And with purchasing them in advance, you will have more opportunity to gain the benefit of sales.

- Try to combine product shipment with consolidating them into one period of time. You can cut your mail cost from this consolidation.

- Turn your preference to probably products that is produced by national manufactures. It means that you can start to use national products to save money.

- Most of smart entrepreneur is aware when and where to buy a stock or products for lower prices. One of the options of have these are to gain the benefit from discounted products. Some companies provides discounts to their member on certain services such as travel, insurance, cargo services, telephone, or others. Taking advantage from the offers of some credit card providers is also a good option for your cash flow.

Aktasio Zikri is International Certified of Neuro Linguistic Programming and Time Line Therapy Practitioner. He plant the applications within the businesses and studies them for entrepreneur mindset development. Visit [http://www-smallbusinesscredit.com] for more information about small business accounting [http://www-smallbusinesscredit.com/small-business-accounting].

Business Opportunity Leads - Are You Aware of the Scammers Selling Their SEO Services?

They are out there! No matter what the business opportunity or service it is, whether it is on the internet or maybe a local brick and mortar type store. Maybe it is a major national bank, insurance company, or oil company...There are unscrupulous people out there working to part you from your hard earned money.

I think everyone and their brothers know both individually and as a whole that we have been getting lied to, cheated, and coerced by insurance, drug companies, oil companies, medical costs, and our banking industry. Oh well...one thing at a time.

What is it that SEO companies are doing unethically?

First off, there are a good number of legitimate SEO companies out there. The problem is that there are many who just want your money. They will tell you all kinds of things. They will even show you how they are able to get keywords to the top positions of the search engines results in days.

If you are new to SEO (search engine optimization), it is easy to be misled. What they do "not" tell you is that the keywords that they brag about absolutely do not produce any traffic! Is not that the whole purpose of SEO? It is so you can drive business opportunity leads to your web site.

These SEO companies will charge you 200 dollars to get top positions for search terms that will not produce. Tell them you want "home based business" or "make money online" and they will say it cannot be done. They want your money and once they have it, will discard you like the butt of a cigarette when you are done with your smoke. I did not mention that when they get your keywords in the top positions, that will be it! They will not do any more for you unless you pay them more money. It is misleading to promise high positions when they do not tell you that your positions will soon drop if you do not keep up with them.

In all reality, the things they tell you are in fact true but are misleading. That is why I refer to them as SEO scammers. Put it this way...I personally can get your keywords to the top position (quickly) in the search engines if it is not something many others are trying to get as well. In many instances, you are competing with literally millions of web sites for any particular keyword or keyword phrase. I personally can get higher level type keywords to the top (and I have) but it takes more than days or weeks. It literally takes months and a lot of hard work.

It all goes back to that old adage..."If it is easy to do, everyone would be doing it". It's not! There are few that can do SEO and achieve high rankings. There is just so much competition for your better keyword phrases.A legitimate SEO company would charge you big time bucks to go for a heavily searched keyword phrase. If you had the money, it would probably be worth it depending on the amount of business opportunity leads or sales you would achieve on a daily basis.

The best piece of advice I could give you would be to do a search in Google for SEO companies. The legitimate ones will be the first ones that come up in your search results.

Generally speaking though, if you pursue using SEO, be careful of the SEO scammers.

There is no better way to get the highest quality of business opportunity leads to your web site than SEO. These are people searching for what you have to offer!

Jim Eberle is currently working with a diverse team of like minded individuals in a co-op type atmosphere to build our business opportunity. This growing team currently consists of people from Ireland, Australia, England, Canada, and the United States. This team of network marketers are combining our efforts to obtain high positions in search engines like Google for higher level type keyword phrases.

Where as many people usually fail when trying to build a home business to supplement their incomes, we work together to ensure everyone has success. Anyone who becomes affiliated with us becomes successful as that is how "we" as a group become successful!

The goal here of course is for many people doing a little instead of several people doing a lot to ensure that success. All traffic and customers are derived from SEO. We do not call anyone unless they request it. We have a number of web sites but I can only submit two here. To learn more go to...

http://www.businessopportunitycoop.com/

http://www.homebasedbusinessteam.com/

India Debt Collection Business

Until the emergence of debt collection business, debt collection in India, was never treated as a specialized job and was always treated as one of the jobs that legal departments of the banks and financial institutions were required to undertake. A typical legal department of an organization would approach the collection job strictly as a legal issue rather than as a revenue collection measure. Litigation would be the only tool used for recoveries and no other tool was either known or used by the industry. Litigation as a recovery measure always had its own limitations due to long and winding court procedures the Indian legal system is always criticized for. On the other hand, foreign banking firms introduced the concept of specialized debt collection services. Debt collection services became one of the many services that began to be outsourced to specialized agencies. The collection business had a very humble beginning and it barely qualified as a specialized service.

However over a period of time with the emergence of India as a global outsourcing destination the domestic businesses also adopted the outsourcing as an efficient business tool. With the result today, the third-party debt collection industry plays an important role in the Indian economy. The industry employs hundreds of thousands of Indians as collection professionals, who are servicing several industries ranging from banks, to telecom service providers to insurance companies. Typically, only small recoveries arising from periodic billing defaults by the customers are outsourced to the collection agencies. Not only the collection business has become a direct source of employment to thousands but its contribution to the economy is more pronounced because it helps infuse money back in the economy that otherwise would have remained uncollected. The economic benefits of third-party debt collection are significant. Citibank is the pioneer in introducing third party collection techniques in India.

The debt collection industry in India also has grown sharply this year as higher borrowing costs; rising inflation and the general slowdown in the economy force more companies and individuals into difficulties. Underlying debt has gone through the roof and lenders and organizations increasingly want to move any bad debt off their books. Whether it is a high street bank, a credit card lender or a mobile phone company, growing numbers are turning to professional debt collectors in a more difficult environment.

The debt collection industry in India is growing at a faster pace and is surely poised for growth. The credit card outstanding have shot up by a whopping 87% at USD 6114 Million during this year, from USD 2844 Million in the period year ago. The Reserve Bank of India (RBI) which regulates the banking industry in the country encourages banks to shift bad loans off their books more quickly because they will be required to hold more capital against risky assets that may default.

COLLECTION INDUSTRY - UNREGULATED SCENARIO

The collection business has its own inherent shortcomings due to unregulated and primitive nature of this business in this country. The persons employed in the industry are untrained both in soft skills and legal skills. Being unregulated, the procedures are not standardized and there are no industry specific checks and balances. Still litigation is used as the last resort tool for recoveries. However the industry has been accused of manipulating the legal system to their advantage by using courts as their agents of recovery. It is seen that big corporations with large volumes of recoveries have unwritten understanding with the local courts at the lowest level. With the patronage of minuscule minority of pliable judges simple civil defaults are registered as criminal cases thus pressurizing the debtors into paying the dues. Slow and long civil recovery court process has no takers in this age of instant results where revenue targets are the most sacrosanct. Under such strict and cut throat environment, there is pressure on the banks to keep their account books healthy therefore such aggressive and extra-legal methods are employed for quick recoveries.

GOVERNMENT / RBI INTERVENTION

Debt collectors in the past had a lot of leeway and it wasn't uncommon for collectors to embarrass, harass or humiliate debtors by adopting extra-legal measures. In the absence of any regulatory regime the courts had to step in by laying down guidelines for the industry to follow. After the intervention of judiciary, the RBI woke up to the need of regulating the unruly collection agencies and laid down its own guidelines for the banking industry to follow.

The guidelines prescribed by RBI are enforced against the banks that have contractually employed collection agencies. The banks in turn via their contracts with the collection agencies ensure that the RBI guidelines are followed. Now, under the RBI guidelines it is illegal to threaten violence or cause harm to debtor, use obscene language, or repeatedly use the phone to harass debtors. In addition, collection agents cannot seize or garnish a consumer's property or wages without recourse to court procedure.

The following are few of the core underpinnings of the collection process. These are the norms formalized by the top bank in India - RBI.

1. DSAs/DMAs/Recovery agents to get minimum 100 hours of training.

2. Recovery agents should call borrowers only from telephone numbers notified to the borrower.

3. Each bank should have a mechanism whereby borrowers' grievances with regard to the recovery process can be addressed.

4. Banks are advised to ensure that contracts with recovery agents do not

induce adoption of uncivilized, unlawful and questionable behavior or recovery process.

5. Banks are required to strictly abide by the codes pertaining to collection of dues.

RBI in the draft guidelines issued for banks engaging recovery agents, has asked banks to inform borrowers the details of recovery agents engaged for the purpose while forwarding default cases to the recovery agents.

The Reserve Bank of India has also considered imposing a temporary ban (or even a permanent ban in case of persistent abusive practices) for engaging recovery agents on those banks where penalties have been imposed by a High Court/Supreme Court or against its directors/officers with regard to the abusive practices followed by their recovery agents. An operational circular in this regard has been issued in November 15, 2007.

Other Laws

Still the non banking debts collection business is outside the purview of any regulator. There are no licenses or registrations to be obtained from any regulator to pursue collection business in India. The extant guidelines applicable to banking industry are found inadequate as they address only the problem of debtors' harassment and the guidelines do not regulate the industry as such. The Government is well aware of the need of having a specialized legal mechanism for recovery of institutional debts which has become a huge problem for the entire banking industry.

Every bank is grappling with the non-paying accounts, known as Non Performing Accounts (NPA) in the Indian banking parlance. The problem has taken enormous proportion and threatened the economy. Creation of Debt Recovery Tribunals in the year 1993 was a step in the direction of facilitating fast recoveries by the banks . The intention behind creation of such Tribunal was to ensure that banking industry was provided with its own recovery mechanism that was part of the legal system but at the same time exclusive to the banking industry. Bank debts above USD 22,727 could be recovered through the Tribunals.

However, over a period of time it was realized that this new mechanism did not yield the desired result since the recoveries were still slow and due to shear volume of work, the Tribunal became like any other court. The whole objective of having a fast track and efficient recovery mechanism was therefore defeated. Bank debts still remained a major problem to be solved since it affected the entire economy of the country. The Government felt the need of having a mechanism that was minimally dependent on the courts for effecting recoveries since the legal system could not be reformed overnight. Therefore instead of reforming the court procedure the government did some clever thinking and came up with a legislation that minimized the intervention of court and empowered the banks with special powers using which the recoveries could be affected.

The government thus came up with a new law Scrutinization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act) where under the banks are allowed to liquidate security given by the borrower for recovery of their dues. This law also paved the way for creation of asset reconstruction companies that take over the security interest of the debtors. These agencies are thus another form of debt collection agencies that have been institutionalized.

The need to share credit information among the banking industry was also felt in order for the industry to benefit from each other. Thus Credit Information Companies (Regulation) Act was enacted in the year 2005.

INDIAN LEGAL SYSTEM AND COLLECTION PROCESSES

The Indian legal system is absolutely fair and assures justice to the party involved. There are remedies available under the law to collect the debt, if the debtor does not agree to pay under normal circumstances. The creditor may file a suit for his recovery. Debts based on written contracts could be recovered by following fast track procedure. If the debtor is a company, creditor / his lawyers may apply in the 'Company Court' for winding up of the company due to non-payment of substantial amount of debt. Summary trial is another way. The process may take time-1 to 2 years. Evidences are recorded appropriately and produced in the court of law, whenever required. There is also the arrangement of appeal to be filed at later stage.

US OUTSOURCING SCENARIO

India has attracted many technology jobs in recent years from Western nations, particularly the United States. Now, it is on its way to becoming a hub in another offshore outsourcing area - debt collection. According to the industry report, units of General Electric, Citigroup, HSBC Holdings and American Express have used their India-based staff to pursue credit card debt and mortgage payment by calling defaulters.

US debt collection agencies are the newest to start outsourcing their work to India and are satisfied with the results produced by the polite but persistent Indian experts. After insurance claims and credit card sales, debt collection is a growing business for outsourcing companies at a time of downturn in the US economy when consumers struggle to pay for their purchases.

Debt collection is a vital and growing component of US economy. There is more than $2.5 trillion in outstanding consumer debt. As a result, the third-party collection industry makes more than one billion contacts with consumers each year. Recently this year, more than $39.3 billion in debt was returned to creditors.

Indians have the advantage of lower salaries and other expenses, which cut drastically costs of collecting debts. Debt collectors in India cost as little as one-quarter the price of their US and European counterparts and are often better at the job. Many such Indian firms run 24-hour services. Indian debt-collection companies comply with strict regulations on operations in the American and / or European markets.

SUMMARY

India has a long way to go in establishing a mature collection services industry. The collection business needs to be regulated and empowered with legal powers to become an effective tool. Already, there is a realization in the country that court dependent recovery is an inefficient way of way of debt collection. Creation of Assets Reconstruction and Securitization Companies under the SARFARESI Act is a step in the right direction of recognizing debt collection as an independent and specialized business function. While some progress is made for the bank debts but still for a large volume of unrealized non bank debt there are no professionally managed and regulated third party collection service providers. Non bank debts are largely unsecured that makes it even more difficult to realize. No big corporations and business houses are interested in acting as collection agents without there being an attraction of valuable security asset. Lawyers can fill this gap by providing collection services for non bank debts. Indian law does not permit contingency fee that makes the business less lucrative. India is therefore ready to benefit from foreign experience, expertise and ideas to create an efficient debt collection industry of its own at par with global status. This need is more felt now by India due to its global ambitions wherein India must adopt globally recognized practices and models. Transnational businesses need a uniform operating system for seamless transactions. Efficient debt collection industry will only instill confidence in companies doing business with Indian companies. Collection professionals have this challenge facing them of creating an efficient system that reduces people's dependence on court supported recoveries.

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10 Tips For Promoting Your Business (Low Cost Suggestions That Will Work in a Slow Economy)

As a business coach, I am often asked to offer suggestions for increasing business traffic to increase sales. There are many ways that you can do this including traditional advertising. There are some creative and lower cost ways to promote your business that even work when the economy struggles. Perhaps your business will find a few of these alternative suggestions useful, especially, if you find something interesting AND THEN go out and try it!

1. Business Partnerships - Cross Mailings

Find other complimentary businesses that have mailing or contact lists that you can "Trade." If you are not in direct competition, you may be able to offer your list to another company for the use of their client list. This is easier said than done, in the beginning. But a win-win situation can have mutual benefits over time.

Sometimes a more gentle way to begin this courtship of someone else's list is to allow them to contribute information or an ad in your newsletter in exchange for having your information go out to their newsletter list. Obviously, you must find organizations that have large, up to date, and productive lists. This cross promotion will take more than one casual contact to get business, so be prepared to have a relationship with your new promotional partner. Remember to support your partners interests to their lists, and to yours. This builds rapport and trust.

2. Pick Your Top 100 Partners (interview and cross promote)

Would you like to have 100 other business people recommending your business? Of course you would. Start making a list of everyone you do business with (and why you do business with these people.) Then think of every business that you might do business with, especially, if they are professionals who might have clients that you want to work with. As an example, if you are service business, perhaps a business coach (or a therapist, health care provider, financial service provider, etc.) create a broad list of the lawyers, accountants, insurance people, real estate professionals, bankers, dentists, doctors, trainers, consultants, teachers, plumbers, cabinet makers, electricians, hotel owners, beauticians, auto repair people, artists, gardeners, hardware store owners, shop keepers, etc that you do business with. If you do not do business with a certain profession, but might at some point in the future, interview prospective professionals in those fields. (Use the "Yellow pages" if you run out of ideas.) Call each of these people and tell them that you are creating your "Top 100 Business Partners" list. Interview them to find out if they would accept referrals from you. (Why wouldn't they?) In return for referring to them, would they consider referring to you? Educate them "carefully" about the services/product that you offer and who the best client for you would be, and why they should use you (your unique selling proposition.) If they will talk about you in exchange for you talking about their service/product, then send them business cards or brochures to give out. (Consider cross promoting to their "lists".)

Keep this list growing and changing Be prepared to replace people or add to your list if you find a better business partner or have a low producing partner. Regular contacts to update your information with these Top 100 partners will keep this relationship warm.

It is important to acknowledge any referral and thank them appropriately for business, even consider offering a "finder's fee" or a thank you "gift certificate" for another of your partner's restaurant or service business.

3. Conduct Information or Research Surveys

It is very difficult to contact new prospects when all you can think to do is ask for business. Consider conducting an information gathering survey. I contact human resource professionals in a "targeted" organization and request time to conduct my interview. I am gathering information for future articles or for a research project which always relates to the type of business services I offer. This is a good way of meeting people with less pressure than in a sales call. You can "qualify" the new potential client by asking questions including, does your targeted future client use this type of service/product, do they have a budget, what do they require in the product/service, and who is the decision maker in their organization, regarding this service/product... (At the end of this interview, ask for permission to contact other people in their organization, including the decision maker, and ask if you can use this new "friend" as a reference.)

Planning this survey is important because you must structure it in a way that gently builds toward your most important information (the name and contact info for the "decision maker.") You must be prepared to deviate from your set questions to build rapport and because important insights may develop from this interview process that take you in unplanned important directions.

These surveys are best conducted by telephone to gather information, however, you may have to be prepared to email or fax your survey to busy people. If you must use email or faxes, make it clear that you would like to follow up and get clarity after you review their surveys with a "brief" call. (Calls are better for getting the essential contact information that you require to move up within a targeted organization.)

4. Grab E-mails

Get e-mails at your website. Exchange their contact info for a free newsletter or discount of your services. At every promotional events or class or presentation you offer, send around an e-mail list sheet to get people who want more of what you may offer. Ask every one you speak with by telephone for their e-mail contact info, and, if you can add them to your FREE e-mail newsletter list. Be creative and do not let any opportunity for gathering contact info slip away... Remember the bigger your list the more value you hold!!!

5. Grab Business Cards

Like e-mail contact info, gather every business card you can. Before getting their card, ask about their business. Find out if they want partner with you in business or promotion or to exchange information. Qualify them as potential clients or as promo-partners and write this down on the back of their business cards. Go to networking meetings, chamber of commerce gatherings, service club meetings, political events, conventions, whatever... Be creative and go through the numbers... Not everyone will be a good fit, but everyone knows people who might benefit from your product or service.

6. Mailing Labels - Email Signatures

Every e-mail you send out should have an automatic signature at the bottom with your name and contact info, AND information about your business product or service! Every mailing label you send out, even on bills that you are mailing to your telephone company, needs to have a business promotion that can tell everyone who handles that piece of mail something about your business. Though a simple technique, it can get you results. So be sure that you put your website info on the return address label.

7. Ask for referrals before you start work

After you sign up a new client, but before you start work, ask them if they would be willing to provide you with a testimonial if you can meet, or exceed, their expectations. Do not wait to you have completed the work. Prepare them in advance. Then, do a great job for them and ask for your testimonial (and referrals!) (In most cases, you may have to coach your client on exactly what was so great about the product or service that you provided. This may help to "round out" a promotional campaign that you are developing.)

8. Creative Media Promotion - Media Expert

You have information and experience that most people may not have access to, so you are an expert! Make sure the local, then national, media knows that you are available to give background information regarding your area of expertise. Send press releases out that are newsworthy and interesting for public news consumption. ("Interesting" to the public, not just to you.) Create a media list of e-mails to reporters, writers, producers, and "on-air talent" who you can send out regular updates of current developments in your field. Stay in touch, because you will never know when they will need background information for a project that they are working on.

It takes work so begin slowly. Find media outlets: newspapers, radio and TV stations, and magazines who you may want to work with AND the best contact people at each specific organization. If you have success locally, ask for references to contact regional or national media organizations.

9. Write Articles - EzineArticles.com for example...

Writing articles for the internet can be beneficial to you in many ways. I started writing articles to get outside "links" going back to my website to help with search engine rankings. Getting your website's ranking to come up on the first page or two of a "Google" search can be very rewarding to your business success and getting more incoming links helps to increase your rankings.

Writing articles also demonstrates your expertise and can get your name out into the world wide web. If your articles are useful, and popular, then you will get traffic and potential for business. I use my articles at EzineArticles.com to send links out to potential clients to educate them about my background, experience, and to demonstrate my expertise. Because all the articles have links back to my website, these readers can follow their way to my business pages for more information.

I am a strong believer that if you offer information and provide service, people will find there way to your business and that you will be able to create a situation that will be mutually beneficial.

10. Get Coaching to create a specific program for your Business

When you read an article like this, you will get a lot of good ideas. Most of us can benefit from getting assistance in tailoring this input for the unique qualities of your business. Small businesses need coaching in certain areas to get their business systems working efficiently. Larger businesses hire consultants to add to their profitability. No matter whether you are with a larger or a smaller organization, outside expertise and perspective can save you time and money.

Many people in business know all about what it takes to create success but often lack the accountability and the follow through to take the steps necessary to accomplish their goals. Coaching partnerships can make this work for you and help to allow you to reach your dreams. Consider getting the assistance that you deserve.

Finally, as you finish reading this article find the most useful suggestions and make a plan to implement them. It is not enough to know what to do, you got to get out there and "just do it!" "Follow up on the new ideas and then follow through!" Most people resist change and doing something "new" but often a new method will wake up your business and give you what you need, even in a slow business economy.

Take good care of yourself and I am wishing you great success in your endeavors.

L. John Mason, Ph.D. is the country's leading stress management expert and the author of the best selling "Guide to Stress Reduction." Since 1977, he has offered Success & Executive Coaching and Training. His business coaching emphasizes finding solutions to increase your productivity and profits.

Please visit the Stress Education Center's website at Stress, Stress Management, Coaching, and Training for articles, free ezine signup, and learn about the new telecourses that are available. If you would like information or a targeted proposal for training or coaching, please contact us at (360) 593-3833.

If you are looking to promote your training or coaching career, please investigate the Professional Stress Management Training and Certification Program for a secondary source of income or as career path.

Business and Industry in Norwich

Once famous for the manufacture of cloth, worsted in particular, the trade has almost ceased to exist in Norwich. Just about the only reminder of the trade in cloth are the tall three story buildings, with dormer windows, that were used to house the looms used in its production. Norwich is now mainly dependent on the service economy for its employment opportunities; the city has attracted over 50 national or regional headquarters of major UK firms and has four of the UKs fastest growing businesses based there. With a total of some 3,000 employers in the area around Norwich, over 75% of them employ five people or fewer. Hence, small businesses are of vital importance to local employment opportunities. Whilst agriculture, another historically important activity in the area, is still important in terms of contributing to the local economy, it now employs only about 8% of the local residents.

Norwich Union is undoubtedly the most famous company in Norwich and it is also the largest employer, employing 8000 local residents. The company is involved in the insurance, assurance, finance and health sectors of the economy and has assets in excess of £300 billion. It is estimated that overall one in four people in Norwich work in a finance or business related environment. Being the city where Barclays bank first started doing business it is perhaps fitting that Virgin Money has its registered office in Discovery House on Whiting Road in Norwich. Virgin Money, with assets in excess of £2.5 billion, is part of the hugely successful Virgin group and was launched in 1995 by the owner, Richard Branson. Virgin Money employs over 400 people in Norwich and the Virgin group employs 35,000 people world-wide. Moneyfacts is a paper and electronic publisher of unbiased financial data, based in Norwich which employs about 115 people. Another company working in the finance sector is Central Trust, which is sited at Austen House in Stannard Place, and employs approximately 350 employees. The company is a provider of financial services, loans, and has assets of around £50 million.

Currently owned by the Malaysian car manufacturing company Proton, Group Lotus has for more than 50 years been renowned for producing sports cars of quality and distinction. Its current range of models are the; Elise, Exige, Europa and the 2-Eleven which re-introduces the motoring philosophy of the old Lotus-7. Whilst the glory days of F1 motor-racing are gone for Lotus, it is still an important employer in Norwich. Its staff of about 1000 produce over 3000 cars a year. The high reputation in which Lotus Engineering, another arm of Group Lotus, is held can be demonstrated in the fact that 10% of all car engines sold in Europe were designed by Lotus. Group Lotus is located at Potash Lane in Hethel. Lotus are not the only company working in the motor trade near Norwich, Racing Technology (Norfolk) Ltd employs 40 people in a purpose built factory at Hingham and designs and manufactures composite bodies, mainly for racing cars, for customers such as Audi, Volkswagen and Bugatti. The company employs around 100 staff including managers, designers and marketing staff. Another company, Triking Cycle Cars Ltd, specialises in making three wheeled 'kit' cyclecars.

The Norwich Research Park is typical of the forward looking attitude that the city is taking to its future employment prospects. The park is a site of concentrated research sponsored by several companies into Health, Food and Environmental sciences and provides employment for around 9000 people. Other hi-tech companies located in Norwich include Syfer Technology Ltd, located at Arminghall in 'state of the art' premises, who are acknowledged as a world leader in the production of multi-layer components to the electronics industry. This essentially means they produce capacitors and filters for electronic circuit boards. Located nearby in Diss is Hamlin Electronics, they manufacture position and movement sensors that are important to features of car safety. Adobe, the company behind many software applications, has one of its two European development centres in Norwich.

Whilst the number of people working in agriculture has fallen, the farming industry still provides employment opportunities through companies involved in processing locally grown produce. Most famous of the food producing companies must surely be Bernard Matthews. Involved in both the farm rearing of the birds and the processing of them Bernard Matthews is a house-hold name in the UK when it comes to any fowl related produce. With its head office and processing plant at Great Witchingham Hall outside Norwich, it employs close on 1000 people locally and some 6000 world-wide. Started in 1950 by Bernard Matthews the company is now the biggest producer of turkeys in Europe and has an annual turn-over of more than £400 million. The company takes great pride in using farms in the east of England to rear the turkeys that it processes at its 12 hectare centre of operations.

One recent success in this area has been the development of Kettle Foods. With its registered office on Bowthorpe kettle Foods are best known for their range of potato snacks that they produce which contain "absolutely nothing artificial". Unilever has a factory in Carrow, Norwich, producing Colman's Mustard, a product that has been made in the city for over 180 years. Coleman's has been owned by Unilever since 1995 and is the oldest established arm of the company.

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Franchise Business Opportunities With Instant Cash Flow

Starting up a new business can be a little nerve-wracking under any conditions, but no less so during an economic decline. It's tempting to either stay away from new business endeavors entirely or walk into one with serious trepidation, fearing for its survival right from the beginning. It's a terrible way to start a business, but when you really stop to think about it, the beginning is really one of the most frail times in a franchise's lifespan, mostly because it takes time to build up business and get cash flowing in on a steady basis. Without that, a business really can't survive; so to some degree, fear is warranted at the outset of business.

That kind of fear in a franchise business, however, isn't always necessary, even in recession. If the threat of not having immediate cash flow is more of a weight than you can handle, it's important to know that there are business opportunities that come with various means of producing cash flow instantly. The following businesses, for one reason or another, are able to provide you with a steady income right off the bat.

Glove Lady

This business for sale provides an instant flow of cash mostly because it provides a product in high demand that few other groups are selling. A low-overhead, work from home business, Glove Lady specializes in selling gloves and other safety equipment. Though it's a product that many companies need, it's not one that a lot of companies sell, meaning that a Glove Lady franchisee has a cornered market from day one. And with a state-of-the art management system, customizable marketing system, and personalized website, everything is in place for a highly lucrative local business.

Superior Wash

One of the leading names in the truck-washing industry, Superior Wash has over 25 years of combined experience and can teach any hardworking franchisee how to profit from this simple and well established business model. Everything is provided for each new home based business from the outset: the business plan, cleaning equipment, accounting services, 24/7 support, and best of all, access to a national account list. What the national account list provides is a large number of trucking companies that, with only a call, will prove to be a immediate source of income because they're already familiar with the Superior Wash name. And with services for each client operating on a weekly, bi-monthly, or monthly basis, that initial income remains a repetitive source of cash flow as new accounts are added.

PIRTEK USA

This is the best franchise opportunity you can find in the manufacturing industry. Universally recognized as a worldwide powerhouse in the hydraulic business, PIRTEK USA provides clients with only the best hoses and other equipment made by the world's leading makers. What's more, they're the only onsite service provider, not only selling hydraulic equipment, but installing, repairing, and maintaining it, all at the customer's location. Between selling exceptional products and providing exceptional services, it is no wonder that clients new and old recognize PIRTEK USA as a wise choice for servicing their equipment, and thus, there is potential for income immediately.

MOLLY MAID

The biggest name in the home cleaning industry, MOLLY MAID comes to new franchisees with almost instant cash flow, mostly because the name is so widely known. The world's leading maid service, every new MOLLY MAID home business has instant advertising and brand recognition because nearly everyone has seen a MOLLY MAID car. Even if owned by another franchisee, that publicity bodes well for new franchises. Because advertising is relatively easy, franchisees are mostly just responsible for managing a staff of employed housecleaners, managing business growth, and providing invoicing and accounts receivable.

The Pajama-Man School

They call him the Pajama-Man, and for good reason. Because he works only from home, Andy Ross wears nothing but pajamas while he makes gobs of money brokering health insurance, and with his school, he is more than able to teach others to do the same. By his estimates, Andy makes $500 every day, just off two or three insurance applications from new clients, all without any calling on his part: he simply receives calls and makes sales. His competitors have all asked him numerous times how he has managed such startling success, but he refuses to tell them his secrets; he only tells his students. For only $5,000, you too can become his student and learn how to take advantage of the same kind of business opportunity.

Supercuts

Once again, the key to instant income with one of these franchises is an already strong market presence and a service that everyone needs on an ongoing basis. Everyone recognizes the Supercuts name and logo, and the average person needs a haircut every few weeks or so. Combine those two facts, and you have an instant success as a part of $3bil franchising family with 12,000 functional franchises already in operation. Each store has two streams of income, service and retail sales, and there is already a global marketing system in operation, ensuring that the cash flow you see today will only expand tomorrow.

Getting into business for yourself never comes without its stresses, but wondering whether or not there's money to be made from the beginning of your franchise's operational life is not a stress you need to have. As you look for the business opportunity of your dreams, keep an eye peeled for those businesses that provide a steady stream of income from the get-go. Having that little bit more peace of mind goes a long way toward making an even more successful business.

Find more franchise business opportunities including home service franchises and retail franchises at Franchise Gator

Reduce UK Tax Bills By Knowing What Business Expenses To Claim

Allowable costs for tax purposes include the cost of goods bought for resale including the cost of raw materials and all costs of production after adjusting the cost of sales for changes to the opening and closing stock of stock including stores being held, work in progress and finished stock.

The adjustments of opening and closing stock values being to adjust the cost of sales to represent the cost price of the goods included in sales turnover. Also included in the calculated cost of sales are commissions paid and discounts given to suppliers.

Contractor costs are allowable at the gross invoiced value before deduction of any with holding taxes. Where sub contractors costs and expenses directly produce goods or services for resale they may also be considered for inclusion in the cost of sales.

All employee costs are included as allowable costs at the gross value paid including salaries and wages of both employees and directors of the business and temporary staff and consultants employed by the business. In addition to the gross wages businesses may also claim employment costs such as fees paid to employment agencies, bonuses paid to staff and the costs and contributions made to pension schemes on behalf of staff employed.

Employer national insurance and additional medical insurances are allowable as business expenses.

Travelling and distribution costs are permissible business expenses and include running costs of cars, vans and lorries which would consist of fuel and servicing costs, repairs, insurance, vehicle licence fees and membership of breakdown organisations. Also included in travel costs would be bus, train, air and taxi fares, and hotel room costs including private accommodation and meals or subsistence allowances in respect of food during the business trip.

Allowable expenses fro property include business rent, rates and other invoices for use of the property including local government charges for general rates and water rates. The cost of maintaining the property, repairs and maintenance and environmental expenses include light, heat and power costs plus expenditure on property insurance and security arrangements.

The same costs as applicable to use of the home are also claimable in so far as the extent of the use of the home for business purposes.

Repairs and maintenance of tools and equipment would also include renewals of smaller items of expenditure on tools and equipment where these items had not been capitalised as fixed assets.

General administrative costs of running the business would include telephone and stationery costs, fax and mobile phones, printing and postage, computer software and small office equipment costs that have not been capitalised. Other general costs may include trade and professional journals and subscriptions including the expenses of employees in respect of these items.

Advertising and promotion costs in all media areas such as newspapers, magazines, websites, television, posters, mail shots and free samples are allowable. Internet website costs including hosting and promotion would be advertising expenses.

Business bank interest payable including business loans and financing arrangements on overdrafts and loans plus bank charges and business credit card charges are claimable. Other allowable expenses would include hire purchase interest, leasing payments and other finance payments. Financing costs also including the administration charges for the potential various finance arrangements.

Legal and professional expenses to be claimed are accountants, solicitors, architects, surveyors and other fees from members of professional bodies including professional indemnity insurance.

Specific sales income which has been included in sales turnover in the current or previous years and remains unpaid and unlikely to be recovered would be designated as a bad debt and may be deducted as an expense but also has to be written back if the money owed is subsequently recovered.

Depreciation on fixed assets that have been capitalised and the profit and loss on sale of assets are not claimable but instead replaced with capital allowances which write off the costs of those fixed assets over a period of years according to the tax rates and rules applicable.

Any other costs properly incurred in the business may also be claimed subject to specific items disallowed under the tax authority rules

Terry Cartwright, CEO DIY Accounting, a qualified accountant in the UK, designs Accounting Software on excel spreadsheets and Payroll Software for small to medium sized business providing a complete accounting solution and also supplies Company Formation packages for new limited liability companies.

Setting Up and Doing Business in Germany With a GmbH

Setting up a GmbH

The minimum capital of a GmbH is 25.000,00 Euro. A quarter of the nominal capital but at least 12.500,00 EUR has to be paid in at the time when the company is founded and before the application for the entry in the commercial registry is filed. If the GmbH has only one partner who shall also act as director he will have to provide a security for the outstanding residual amount.

In November 2008 a new sort of baby-sized GmbH was introduced. It is called Unternehmergesellschaft (haftungsbeschraenkt) or UG (haftungsbeschraenkt) and may operate at the start with a share capital between 1,00 and 24.999 Euro. However, the partners of such business company with limited liability are obliged to invest one quarter of the future annual profits of the company in into its capital reserves until the statutory minimum share capital of 25.000 Euro is reached.

The company agreement is subject to a notarial recording. The notary manages for the partners also the application for the registration of the company in the Commercial Register. However, the a notarial recording if the partners choose a standard set of clauses provided by law for their articles of association. This set stipulates only the minimum which is necessary for the company's entry in the registry.

Costs for the establishment of a GmbH then depend on the nominal capital. For a GmbH holding the minimum capital of 25.000 Euro; the costs are:

- 168 Euro; of the notarial drafts of the company charter,

- 168 Euro; for the notarial recording of the first general meeting (actually not needed),

- 42 Euro; for the entry in the register, publication in the gazette

- 100 Euro; publication in the gazette

The notarial establishment of any company charter also requires the involvement a sworn translator unless the founders waive this requirement. The waiver is only accepted by the civil notary if he is assured that the founders gain proper knowledge of the company charter in another way.

Conduct of the GmbH

The start of a business must be reported to the local office of trade and industry. It will inform the tax office immediately and they will send a questionnaire to the owner of the business in order to acquire data which are necessary for taxation purposes. The questions refer from general information such as the type of business, its address, banking data and so on to data which are particularly important for the taxation, e.g. if the business is liable to VAT due to its size or whether the tax office will have to assess advance payments on the income, corporation and business taxes. If cross border business is planned the business owner can apply for a trade ID. The questionnaire has to be filled in and sent back to the tax office within a month.

GmbHs have to maintain an adequate and orderly accounting in the shape of a double entry book keeping irrespective of their size. They will also have to produce annual statements consisting at least of a balance sheet, the explanatory notes to the accounts and a profit-and-loss report within three months as of the beginning of a new accounting year. For small GmbHs this period is extended to six months. The annual statements have to be published by furnishing them to the Commercial Register.

Managing directors (Geschaeftsfuehrer, GF) act as statutory representatives of the GmbH. As such, they are exposed to various liabilities in particular if the business of the GmbH is not thrivng. In general, any damage caused through deliberate acts contrary to public policy can incur a personal liabilty of the GF eg. by the placement of orders at a time when the GmbH is already overindebted and is not able to pay the rendered work later on. In connection with the overindebtedness of a GmbH the criminal delay by the managing director in filing a bankruptcy petition is practically very relevant. Such petition is to be filed without undue delay upon the occurrence of either an overindebtedness or an illiquidity of the GmbH (after three weeks at the latest). However, if no plausible solution to save the business is on hand there is no cause in deferring the filing until the end of this three-week-deadline. Any financial obligation incurred after illiquidity or indebtedness may cause a personal liability of the GF against the contractors of the GmbH. Furthermore, the failure to pay wage withholding tax or social security contributions for the employees often may cause respective claims. Therefore, any GF is well advised to shorten the staff`s salaries or wages if necessary in order to keep enough cash to meet the statutory obligations. Otherwise, even a prison sentence for the GF may be imminent.

Business Income Taxation and Taxation of the Partners

The German government offers a variety of tax advantages as well as funding supports to starting businesses.

The GmbH is liable to corporate income tax including the solidarity surcharge and to business income tax. The corporation tax rate at present is 15 %. Losses incurred by the GmbH in one fiscal year can be carried further or backwards which may reduce the profits that serve as a basis for the assessment of the corporation taxes in earlier or later tax assessment periods.

In addition to the corporation tax the profits of the GmbH are subject to the municipal business tax at a rate that is made of result of the municipal rate as fixed by the municipality multiplied with 3,5 %. As the tax rates differ considerably from town to town the business tax constitutes a decision factor on the location of the company.

Dividends paid out to the shareholders as well as profits arising of the sale of share are liable to capital gains taxes at a rate of 25 % plus solidarity surcharge and - if applicable - church tax. Upon a respective application, the tax rate can be reduced for taxpayers with low income. Partners holding at least 25 % of the nominal capital or partners who hold at least 1 % and work for the GmbH can also opt for a taxation pursuant a partial income procedure (Teileinkuenfteverfahren). Here, 60 % of the dividends received or the sales profits are subject to income taxation. the other 40 % of the proceeds are income tax free. For corporations holding interests in a GmbH only 5 % of the dividends and sales profits received are subject to taxation. Foreign shareholders/ partners have to observe the taxation rules as stipulated in the double taxation agreements between Germany and their respective home country.

Labour Relations

A foreign employer will have to observe that labour contracts had better concluded in writing. This also applies to notices of termination of a work contract. Employees benefit from several rights which cannot be deviated from by mutual agreement to their disadvantage, e.g. in regard to the vacation which are stipulated in the Federal Vacation Act.

Employers are required to pay half of their workers' health, unemployment, pension and old-age care insurance. They also have to pay for the statutory accident insurance. Moreover, they are responsible that the employers' and the employees' shares of the insurance contributions are paid to the Employers` Liability Insurance Association and health insurance fund in charge for the collections.

Further Information for Founders of New Businesses and Foreign Investors

The German Ministry of Economy and Technology offers an English language online service for foreigners wishing to start a business in Germany. This step-by-step portal lists start-up procedures, business planning strategies and management techniques to ensure the company is successful. State aid can also be applied for, although previous employment in the country is required for at least a year to be eligible for assistance in general.

Foreign nationals seeking to start-up a business the German Federal Ministry of Economy provides a website in English, French, Turkish and Russian with further information (URL: existenzgruender.de)

For foreign investors the "Invest in Germany GmbH" - a government agency - provides among others a thorough investment guide and comprehensive information about the German industries (URL: gtai.com)

Henning M. Haarhaus Certified German Attorney-at-Law/ Certified Tax Specialist Lawyer Schlosssstr. 96, 12163 Berlin http://www.kanzlei-haarhaus.de/english/Overview-english.htm

Obama Care Health Care Rules For Business - Insanely Complicated

This Obama Care Health Insurance law is a nightmare and the last thing this nation needs right now, especially at a time when we need more jobs. The latest news is that the Obama Administration is intimidating large corporate health care insurance companies from raising rates. They have to, or they will go out of business, then you and I the taxpayer will end up paying for the losses incurred in public funded health care insurance.

Meanwhile, health care costs continue to skyrocket outpacing inflation by 10:1 for the last decade and no chance of slowing. So, you'd like to have a health care insurance debate with me would you? Well, I wouldn't go there if I were you, you can't compete with facts, besides maybe I should let you in on a few things first.

Okay, I admit it, I am much smarter than you, and probably a minimum of 40 IQ points, and if you voted for Obama, could even be significantly more than that, seriously, I am not going to lie to you to make you feel better, and I am not issuing certificates for participating or reading this article. You darn well better read my articles if you want to improve the gap mentioned above.

You see, I have one of those minds that just works awesomely, but I can tell you I've been reading some of the trade journals I take for various industries, many have articles on this new Obama health care bill, and I am amazed how complicated it is will all the requirements, fines, and phase-ins for 2011, 2012, 2013, and 2014. Indeed, I am blown away, while reading all this four or five times to make any sense of it. It's a nightmare for small business.

And if the Obama Administration tries to tell us that small business likes this new law, because they really want to provide health care insurance for employees, and they applaud their efforts, well, that's just a load of smelly brown molasses looking material one might find in the aeration process at the POTW (publicly owned treatment works). Give me a break, no way will any small business person be happy about that.

In fact, it would make sense to fire as many employees as possible and hold off hiring anymore for as long as possible to avoid all that bureaucracy, as a small businessperson would need hire an accounting firm to administer just the employee health care insurance program, it is insanely complicated and utterly ridiculous, what a bunch of nonsense. This is what they produced?

No wonder Nancy Pelosi said;

Well, you'll just have to vote for it then, and see what's in the bill!"

Lance Winslow is the Founder of the Online Think Tank, a diverse group of achievers, experts, innovators, entrepreneurs, thinkers, futurists, academics, dreamers, leaders, and general all around brilliant minds. Lance Winslow hopes you've enjoyed today's discussion and topic. http://www.WorldThinkTank.net. Have an important subject to discuss, contact Lance Winslow.

For Business Owners Only - You Can't Be Fired But Neither Can You Quit

The decision to sell, or not to sell your business is a difficult one. There are many questions that need to be answered before an informed decision can be made. Is selling your best alternative? Will one of the kids want to take over the business? Timing is everything. Is now the right time? You do not have to sell or decide right now. You are quite busy so maybe you will look into it after. . .

Facing the issue of succession or continuation of one’s business is very much akin to addressing the need for life insurance. Neither subject is addressed with much enthusiasm by the average person. The prudent address the inevitable and prepare. Although only one eventuality exists for us as individuals, three exist for our business: Transfer to family, sell to outsider, or close down.

As with the purchase of life insurance, the decision to sell or plan a viable business’ succession can be continually postponed. Unfortunately, when a business must be sold it usually is too late. Few people are willing to buy a business that has to be sold. Of the hundreds of business transfers we have facilitated, less than a handful could be classified as sales for “desperate sellers.”

How have other business owners addressed the continuation of their business? Actually very little is known or documented regarding the succession of private and family businesses. The information available usually pertains to very large companies. Data regarding smaller business transfers and succession is generally not available.

What are business owners’ expectations regarding succession or the continuation of their businesses?

Massachusetts Mutual Insurance Company sponsored a telephone survey of 614 owners of family businesses grossing two million or more in annual revenues. The survey, conducted by the Gallop Organization and designed by Mathew Greenwald & Associates was completed in September 1994. Although the majority of private companies are considerably smaller than the sample (the companies had an average of 50 employees) the opinions of those surveyed should be representative of most business owners.

Questions related to succession expectations revealed: 65% plan to pass the business on to family members or other relatives, 24% do not plan to pass to family members, and 11% are undecided. Only 7% plan to sell or liquidate and 1% plan to pass the business to someone outside the family. Seventy-five percent do not have a written succession plan.

MassMutual reports that their survey is the largest of its kind ever undertaken and, since the report’s release it has been hailed as “the most comprehensive piece of information on family business ever produced.”

What really happens?

Franchisors are perhaps the best source of information on many issues relating to small business operations as they are intimately and contractually involved in the franchisees’ affairs. The franchisor is therefore an excellent source of information on what happens when a franchisee decides to “move on.” Do their franchisees go in and out of business happily?

Data compiled by Quick Printing (a magazine for commercial print shops and copy shops) may provide insight as to what is actually occurring, not only with franchised print shops, but also private and family businesses in general.

More than 5,000 print shops were represented in the survey. Of that number 302 closed their doors and 93 sold. Three businesses closed for every one that sold! Of the 395 franchisees that “moved on” (eight percent of the total) 76.5% went out of business whereas only 23.5% transferred to someone else.

John H. Brown, author of “How to Run Your Business so you can Leave it in Style” illustrates the conflict between business owners’ expectations for the continuation of their businesses, and the reality of what actually happens.

Expectations Vs Reality

Expectations Reality

Transferred to family 50% 15%

Sold to employees 30% 5%

Sold to outsiders 10% 10%

Sold to competitors 10% 10%

100% 40%

From an address to the International Business Brokers Association

The above data substantiates that reality is in direct opposition to the expectations of the MassMutual survey participants. Although the overwhelming majority of business owners wish for their businesses to continue, most businesses will simply close down.

Small business is continually credited with providing most new jobs, more than half of our gross domestic product, and perhaps 65% of all wages. Small business is the backbone of the US economy. A mortality rate of 75% among this most important group is a national tragedy.

Why Don’t Businesses Business Owners Sell?

The largest single reason that most businesses are not sold or transferred seems to be that the owners never made the decision to do so. If you do not make the decision to sell or select a successor, outside forces will eventually combine to determine the ultimate fate of your business. In defense of those who have not been able to come to a decision regarding business succession, we offer the following:

1. Business owners know they are missing important information in connection with selling.

2. To take action without a full understanding of “the rules of the road” would be foolhardy.

Most Businesses can be Sold

Our experience, gained in assisting more than 2,000 business owners with succession decisions and business transfers, indicates that essentially every business can be sold if:

1. Ownership fully understands the unique environment in which businesses are sold, and therefore avoids the costly mistakes of employing traditional sales methods to sell their business.

2. Ownership recognizes the natural cycle of business ownership

(a time to grow and a time to go) and makes a timely decision and preparations to sell.

3. Those involved in the decision understand that the motivations to sell are personal and not purely financial.

4. The company is properly prepared for sale before marketing efforts begin.

5. The “right buyer” and the optimum price are identified before going to market.

A timely decision to sell, coupled with proper preparation and a comprehensive understanding of the unique rules and selling environment, is required for a business to transfer successfully.

Obtain Necessary Information

“I am considering the sale of my business” is the initial phrase we hear most often from business owners. Very few will tell us they have decided to sell. This is understandable as information is required before an informed decision can be made. Those that do proclaim to have decided to sell, generally have waited too long, and have nothing left to sell. Life insurance agents are not enthusiastic when someone calls out of the blue to buy life insurance. Ninety-nine times in one hundred that person has just left his doctor’s office with the bad news. You cannot buy insurance on a burning building. You cannot sell a business for an optimum price when you are compelled to sell. You can, of course, always liquidate or give the enterprise away. Is that what you would choose to do?

Information Needed

The following are the questions most commonly asked when selling is considered:

• What is my business really worth?

• How can I find the right buyer and still maintain confidentiality?

• Are there steps I can take to increase my company’s value?

• How long does it take to sell a business?

• Are there buyers out there with the money I want?

• Will I have to finance part of the sale? If so, how much?

• If I do, how can I be assured that I receive my money?

• What will I do after I sell?

• How much money would I have after the sale?

• What is an ESOP? Is it something I should consider?

• What would I do if I could not get my price?

• Perhaps a big company would buy my business. Would I have to stay on for long? Would they keep my employees?

• What expenses are involved in selling?

• What kind of investigation will a buyer want to perform?

We have developed a “Sell Your Business Tool Kit” that may be found at [http://www.howtosellasmallbusiness.com] to help business owners address these and other questions as they consider the possibility of selling their business.

What is important to remember is that the timely decision “to do something” with your business is the single most important factor impacting your ability to cash in on your investment in your business. You cannot wait until you are compelled to sell. Waiting for an offer you cannot refuse to come out of the blue usually happens only on TV.

Common Reasons for Sale

The reasons most often given for wanting to move on revolve around “life-style” issues such as:

Retirement

Health considerations

Relief from the “burden of ownership”

Boredom with the business

No time for the rest of my life

Burned out, tired, need a rest

Business demanding what I can’t or don’t want to provide

It’s not enjoyable anymore.

The one constant of life and business is that things will change. There is no such thing in business as status quo—it’s either up or down, grow or go—no status quo. It is best to consider selling when business is on the upswing rather than the down.

Decide, Choose, Act

If you are considering doing something, you have to approach the decision in the appropriate manner. It does not matter what the decision. The decision must be approached in the right sequence. Ready, Aim, Fire. Not Fire, Ready, Aim. In our instance the sequence must be Decide, Choose, Act.

When it comes to deciding what to do about your life and your business the most important thing you can do is to resolve to do something. Reading this article is perhaps an excellent first step. Congratulations.

Organize your questions. Get the answers. Weigh your options. Choose the alternative that suits you and your situation best, then act. The quiz found on the next page is for business owners only. It may help you decide if preparing your business for sale is a timely thing for you to do.

Take the “One Minute Quiz for Business Owners Only” found on the next page

A One Minute Quiz

For Business Owners Only

Circle your answers to the following questions, then turn the page to see how you scored.

1. Is your business less enjoyable now than before? Y N

2. Does your business challenge and excite you less than before? Y N

3. Do you think of selling your business more often now than

you did before? Y N

4. Do you find yourself complaining more lately? Y N

5. Has the business come between you and your loved ones? Y N

6. Has your business begun to level off or decline? Y N

7. Are you concerned you no longer have the stamina your

business requires? Y N

8. Do you ask yourself “What would I do if I sold?” Y N

9. Do you often wonder “What is my business worth?” Y N

10. Would you be hesitant to personally guarantee a sizable

loan in order to grow your business? Y N

The question: Is now the time to sell my business?

To determine your answer, count your yes answers.

0-3 Yes

Congratulations! You are happy and probably quite prosperous in your business. Keep it up.

4-6 Yes

Pay attention to your “early warning signals”! It’s best not to make the mistake of staying too long! Sell while you are still having fun. Best to start the preparation process early. The actual sale of a business can take a long time.

7-10 Yes

Do not let time spoil the fruits of your labor. Most great men and women in history have had more than one career. Time for you to decide that you want a change. Choose what you want to do next, and then act.

(If you are considering the sale of your business you should check out the “Sell Your Business Tool Kit” designed especially for business owners who are considering the sale of their business. Go to http://www.bizbooksoftware.com to check it out.)

Mr. Burbank is President of Lighthouse Financial, LLC and Parker-Nelson Publishing. Since 1979 he and his associates have participated in more than 2,000 business transfers. He is the author of "In & Out of Business . . . Happily" - "Buying a Business Made Easier" - "VALUware 6.0" Business Valuation Software - "DealMaker 4.0" Business Acquisition Software - "DealMaker docs" Transaction Documentation Software all published by Parker-Nelson Publishing. In addition he is a contributing author to "Merger and Acquisition Handbook for Small and Mid-Size Businesses" and "Business Valuation Handbook for Small and Mid-Size Companies" both published by John Wiley and Sons. http://www.bizbooksoftware.com

Home Based Business Spotlight - L&W Investigations

Of the business opportunities available, L&W Investigations offers what may be the most exciting of all. This franchise business offers franchisees the chance to be a private investigator.

The PI Stereotype

Of course, to really get the proper picture of L&W Investigations, there needs to be some clarity on the business of investigation. Most people are familiar with the Hollywood representation of private investigation: the irreverent, shadowy PI sitting at his desk, taking yet another swig from his hip flask as an alarmingly beautiful woman slips in through the door of his office to beg his assistance in finding her kidnapped father. The characters and the scene are something of an American icon, and maybe it's an accurate representation of the life of some private investigators, but it certainly isn't a depiction that's universally true.

In fact, much of the investigative world of today is nothing like all that. Rather, investigators are professionals who have learned how to collect, interpret, and pass along information pertinent to an assignment, and generally, because investigations are needed in so many fields, they only accept certain varieties of cases dealing in an area of specialty. In the case of L&W Investigations, franchisees concentrate on surveillance and cases of insurance fraud, and they don't even do the vast majority of the investigation themselves. Instead, franchisees serve as business owners and managers over a staff of far more highly trained investigators.

Training

Because the home business franchisee is responsible primarily for business oversight, there is no need to come into the operation with previous investigative experience. Whatever prior business experience the franchisee may have is harnessed by a team of professional trainers and rechanneled toward the desired business objectives.

The heart of the L&W Investigations training program is in the hands of training manager Ed Fidler and trainer Chris Cline. Fidler comes to the organization with years of experience as an investigator for the Boston District Attorney and is a highly respected member of the SIU community. Cline served as a Kentucky state trooper, was promoted to detective as a part of the Warren County Drug Task Force, and has professional experience in a wide array of investigative fields. Together, they are more than capable of training new franchise owners and their employed investigators, making them some of the best in their specific industry.

Business Operation

This business opportunity depends heavily on the success of the central organization. They are the ones responsible for the vast majority of marketing: giving the L&W Investigations name a strong presence at 35 national trade shows, maintaining public relations, running ads in industry-related publications, and maintaining the company website. And, though the intent is to help those who need it, L&W Investigations does receive recognition for being active in such charitable events as the annual "Taste of the NFL" and the Special Olympics.

The involvement of the central establishment in the success of each home based business doesn't end with marketing, though. Once the various avenues of advertising make their impact and draw potential clients, the central staff continues working, taking investigation requests made via phone and internet and passing them on to the franchisee in the protected territory nearest to the client. And throughout the processes of serving clients, franchisees have 24/7 access to help from central staff, as well as ongoing training to keep them abreast of the latest developments, tricks, and tactics in the industry.

For the franchisee, the business is simple and consistent. The work from home franchisee is responsible for managing his investigators and their assignments, enhancing the local marketing strategy, and consistently growing the business. As jobs come in from L&W Investigations headquarters, they are handed to employed investigators, who perform investigations on behalf of insurance companies and legal organizations interested in proving the truth or falsehood of an insurance claim.

Perhaps one of the most interesting parts of the work is the ITrac case management system used by the organization. Designed to streamline every part of the investigation process, from payroll to final reporting, it takes the administrative weight out of the business so that franchisees and their staffs can focus on investigation. The ITrac system helps clients by managing accounts and keeping record of investigation instructions, it helps cases by keeping track of important contacts and sorting all found information from data to videos, and it helps franchisees by keeping track of employee hours and wages and producing assignment sheets. Though it lacks the common sense and intuition necessary for good detective work, it is one of the most important aspects of operating this business successfully.

The Founder

Often, one of the key factors in the determining the success of any business for sale is who started it: where his heart is and what his goals are. In the case of L&W Investigations, the founder, Neal Lyons, is a man whose business and vision can be trusted. As business knowhow and drive go, there is no one better to follow. As an executive with Vans for years, he was responsible for revolutionizing the brand and its presence in the retail market by making a line of combination apparel stores/skate parks across the nation. He's worked for other names like Reebok and Footlocker and has always been a positive presence wherever he's gone.

Whether it's in business or while working with Children's Hospitals or the Special Olympics, Mr. Lyons has always had the intent of making a business or charity all it can be by whatever means possible. And this dedication primarily to people is what makes him and his business a worthy investment. It may not have the glamour of a 1950's film noir crime flick, but L&W Investigations is a business to keep an eye on.

Find more home based businesses including computer and internet franchises and vending machine distributorships at Home Based Business Opportunities.

Wellness As a Business Strategy

Where Are The Health Care Dollars Going?

U. S. health care costs have increased from $1,100 per person in 1980 to $7,900 in 2009. Currently $1.5 trillion, 75 percent of all health care spending, is devoted to treating chronic diseases which are often preventable. Ninety-nine percent of all Medicare dollars spent are linked to chronic disease. Obesity and complications (diabetes, cancer, and heart disease) are responsible for an estimated $147 billion a year. Health care reform must address coverage for all Americans while dramatically reducing costs. Failure to address the situation will prevent American companies from competing in the global marketplace, increase taxes, and undermine our economy.

More than 130 million Americans suffer from chronic disease and millions of lives are cut short unnecessarily. The Partnership for Prevention report claims that better utilization of just five preventive services would save more than 100,000 lives annually. Eliminating just three risk factors - poor diet, inactivity, and smoking - would prevent 80 percent of heart disease, stroke, Type 2 diabetes, and 40 percent of all cancers in the U. S.

The Greatest Public Health Threat Our Nation Has Ever Faced

A recent study conducted by Emory University revealed that obesity is the fastest growing public health challenge our nation has ever faced. The Center for Disease Control (CDC) attributes the problem to environments that promote increased food intake, unhealthy foods, and physical inactivity. Obesity is defined as having a body mass index (BMI) of 30 or greater which is calculated by dividing weight in kilograms by height in meters squared. For those of us who haven't memorized the metric conversions and can't perform the calculations in our heads, The U.S. National Institutes of Health has an online BMI calculator.

The rates of obesity have increased from 12 percent in 1989 to 28 percent in 2010. If the current trend continues, half of the adult population will be obese by the year 2020. Direct health care costs for obesity are expected to climb to $344 billion (21 percent of the nation's direct health care spending) unless the current trend is halted (The Future Costs of Obesity, 2009). The 2009 report on obesity in America produced by the Trust for America's Health and the Robert Wood Johnson Foundation indicates the rates of obesity increased for 23 states and did not decline for any states between 2008 and 2009. Obesity rates among children have climbed to an unprecedented 30 percent (Obesity Rates Continue to Climb, 2009). Dr. David L. Katz, director of the Yale University School of Medicine Prevention Research Center states, "It truly is a public health crisis of the first order, driving many of the trends in chronic disease, in particular the ever-rising rates of diabetes." (The Future Costs of Obesity, 2009).

According to the New England Journal of Medicine, smoking rates have dropped by 20 percent in the last 15 years. Unfortunately, any health benefits we should be realizing from the decline in smoking have been offset by the obesity rates that have shot up by 48 percent in the same time frame (Mertens, 2009). What should we conclude? As a nation we tackled smoking as a public health threat. The numbers speak for themselves. We can do the same thing with the obesity epidemic.

Reversing the Trend

Raising public awareness of the seriousness of this threat is a starting point but is not enough to provide the impetus for change. Reversing the trend will require a full scale national campaign involving evidence-based approaches. While there is no specific template for health initiative program design, successful programs involve community, schools, health care systems, and workplace intervention. The Partnership to Fight Chronic Disease (PFCD) suggests the following five elements are essential:

Removing barriers and empowering Americans to take control of their health
Educating Americans to see obesity as a serious medical condition that is life threatening
Ensuring that fear about the stigma of obesity does not eclipse the need to combat it
Redesigning our health care system to treat obesity like a preventable medical condition
Engaging employers and communities to get them invested in promoting wellness (The Lewen Group, 2009)

Business Necesssity

The U. S. workforce is truly the backbone of our economy. Employers are a critical piece of the solution to the current health care crisis and obesity epidemic. Businesses need strategies for developing sustainable, adaptable programs that work to improve employee health and lower costs. Human Resource professionals are uniquely positioned to serve as catalysts in their organizations to educate and support employees through programs that promote wellness. Properly designed wellness programs can play a pivotal role in cultural reform and turning the tide on the obesity epidemic.

Employee absenteeism and presenteeism due to chronic illness has a detrimental affect on profitability. Almost 80 percent of workers have at least one chronic condition and 55 percent have more than one chronic condition. Absenteeism is defined as work missed due to sick days. Presenteeism is defined as the loss of productivity due to employees who report to work but are less productive due to illness. Lost economic output associated with absenteeism and presenteeism is costing American businesses $1 trillion a year (U.S. Workplace Wellness Alliance, 2009). Wellness programs can improve workforce morale, improve productivity, reduce absences, attract and retain employees, reduce costs, improve workforce safety, promote corporate image, and fulfill social responsibility.

Success Stories

Many businesses were ahead of the curve and are realizing a return on their investment in employee wellness programs. IBM has saved $175 million dollars through implementation of wellness programs (Partnership for Prevention, 2007).

Lincoln Industries is a manufacturing plant with 565 employees. They have a multifaceted wellness program that rewards behaviors. One of the coveted rewards employees can aspire to is a three-day, company-paid trip to climb a 14,000-foot peak in Colorado. Lincoln has reported a $2 million annual savings in health-care costs. They spend approximately $4,000 per employee. Additionally, workers' compensation costs have been reduced by $360,000 per year. The ROI for this program is 5:1 (Design Matters, 2010).

In 2005 Safeway grocery chain implemented their Healthy Measures program. They have made continuous improvements each year. Safeway's plan utilizes a provision in the 1996 Health Insurance Portability and Accountability Act which allows differentiating premiums based on behaviors. CEO, Steven Burd stresses the key to successful plans lies in rewarding behavior. Safeway is committed to building a culture of health and fitness by addressing behaviors linked to chronic disease such as smoking, obesity, blood pressure, and cholesterol (Burd, 2009). During the four year period following implementation, Safeway's health care costs remained constant while most American companies have experienced a 38 percent cost increase over the same four-year period. In addition to the Healthy Measures program, Safeway supports employee behaviors by offering:

A state-of-the-art fitness center near Safeway's headquarters
Free lunch at the company cafeteria for every eight visits to the gym
Subsidized cafeteria, which offers lots of vegetarian fare
Portion size, calorie count, cholesterol and fiber count posted for all prepared meals in the cafeteria (Rodman & Gathright, 2009).

Programs that combine a culture of wellness with incentives that reward healthy behavior have proven to be far more effective than traditional wellness programs that have had disappointing adherence rates. Price Waterhouse Coopers found that less than 15 percent of eligible employees enroll in traditional wellness programs. However, if they received some form of incentive employees are two to four times more likely to enroll. In another study by Suffolk University 73 percent of Americans surveyed would change their behavior if they could save money (Donnelly, 2009).

Are You Leading Change?

As with any change initiative, creating a culture of health and wellness for your organization will have its unique challenges. However, the alternative is not attractive. Change is inevitable--growth is optional. Your organization will experience change, but the question is will you be out in front leading positive change or reacting to a crisis after it erupts? American business leaders should exercise the opportunity to initiate a culture of health and wellness in their organizations not only because it is socially responsible, but it is good for the bottom line as well. Executives who exhibit strong vision and model desired behaviors will have a distinct advantage over those who sit back and wait to see what unfolds.

Works Cited

Burd, Steven A. "How Safeway Is Cutting Health-Care Costs." Wall Street Journal, 12 June 2009. Web. 8 Jan. 2010.

Design Matters: Health Promotion ROI Closely Linked to Evidence-Based Programming. Rep. Atlanta: Institute for Advances in Policy Solutions, 2009. Web. 4 Jan. 2010.

Donnelly, Julie. "Massaging employee health: Financial incentives change behaviors, experts say." Boston Business Journal (2009).

The Lewin Group, comp. Keeping America Healthy: Essential Elements of Successful Programs. Rep. Partnership to Fight Chronic Disease, June 2008. Web. 30 Dec. 2009.

Mertens, Maggie. "Obesity Epidemic Cancels Out Anti-Smoking Gains." Web log post. NPR's Health Blog. National Public Radio, 2 Dec. 2009. Web. 11 Jan. 2010.

"Obesity Rates Continue to Climb." Forbes. HealthDay News, 1 July 2009. Web. 12 Jan. 2010.

Rodman, Juliet, and Fiona Gathright. "Safeway's Wellness Incentive Program." Wellness Corporate Insights (6 Jan. 2009). Wellness Corporate Solutions. 6 Jan. 2009. Web. 11 Jan. 2010.

Trott, Bill, ed. "More Amercans than ever are obese: CDC." Reuters. Thomson Reuters 2009, 8 July 2009. Web. 11 Jan. 2010.

United Health Foundation, American Public Health Association, and Partnership for Prevention. The Future Costs of Obesity: National and State Estimates of the Impact of Obesity on Direct Health Care Expenses. Rep. 2009. Print.

U.S. Partnership for Prevention. National Commission on Prevention Priorities. Prevention Care: A National Profile on Use, Disparities, and Health Benefits. Partnership for Prevention, 7 Aug. 2007. Web. 5 Jan. 2010.

U.S. Workplace Wellness Alliance. Partnership to Fight Chronic Disease. The Burden of Chronic Disease on Business and U.S. Competitiveness. By Kenneth E. Thorpe, PhD., Anthony C. Wisniewski, and Garry M. Lindsay. 2009 Almanac of Chronic Disease, 2009. Web. 10 Jan. 2010.

Jennifer Vogel is Managing Partner of Envision Evolution Group, LLC, an Atlanta-based Career Management firm. Jennifer is a certified professional resume writer and career coach with a Master's degree in Human Resources Management and a BS in psychology with more than 20 years of experience in resume writing. Does your organization need help with creating a wellness culture? We can help. Please visit http://www.envisionevolution.org.

7 Steps To Determining The Market Value Of Your Business

I help business owners improve, turnaround, sell, or even buy a business. Among the most common questions I get asked is this: How do you determine the market value of a business?

Here are-pretty much in order--7 basic steps for how a business is valued.

1. Black Ink

What is the net income of the company? This one will surprise no one. We are talking about pre-tax profit here. In the last analysis, we are in business to make a buck. Hence, the blacker the bottom line, the greater the value of a business.

Be careful here. Make certain your accountant (even if that's you or a family member) constructs a profit and loss statement that shows the true profitability of your company. By that I mean one that includes only expenses that are absolutely tied to the business. Most businesses are rife with what I call "gray expenses." Gray expenses are those that may be accepted by the IRS but are not necessarily critical to the business in question. Traveling, entertainment, even medical and insurance expenses can be gray. Get those out.

Does an unprofitable business have no value Not necessarily. I can tell you as one who does turnarounds, that if there is evident potential for turning it around it may have real value. Besides that, there is the Hardware Store, our next point.

2. The Hardware Store

The printing industry is capital-intensive. Heavy equipment dollars need to be spent to make your operation competitive

That hardware (and not so hard-ware) has value. It is called tangible assets. Value the equipment at cost and add that to the valuation. A buyer wants a turn-key operation, not just a profitable enterprise grinding away with equipment in disrepair and needing replacement.

There are businesses that are currently not profitable but not due to any recession, but rather to recent equipment acquisition. Such businesses may become profitable once the sales and marketing capitalizes on the efficiencies of that equipment.

3. Service with a Smile

The more a business depends on the quality of its service the better. The reason is that service is far less costly to a company than constant equipment upgrades.

Now I understand niche printing and all the rest. But if you have a unique mousetrap, chances are it won't be long before your competitors find the right cheese to make a similar one.

If you can bullet-proof your service and show that the income flows heavily from that service you have a stronger company.

4. Rain Coat

Insurance companies, huge tax firms, funeral homes, even large pest control companies are raincoat clients. They do business no matter the economic weather. People need to be insured in every economy, the tax man comes annually recession or not, termites don't knock off during economic downturns, and people keep dying in good times and bad.

This is more a matter of degree than kind. In other words, companies are more or less affected by the economy. The point is this: the more accounts you can get that hold up in good and bad times the stronger you are.

4. Goliath is not Your Friend

The broader the base the better.

I once had an east coast printing client, let's call him Harry. He was swimming in wealth because he had a contract with a national company based in NYC. They placed the orders, he produced them, and the cash register sounded like the Mormon Tabernacle Choir.

Until that national Goliath opted to redo the contract. That's right. Year after year, as Harry's costs went up, Goliath wanted better pricing. Sound familiar? Of course it does. Harry wound up selling his company under duress.

The broader the base, and the less dependent on Goliaths the better.

5. Up, Down, or Sideways

Are sales increasing, stable, or decreasing? More particularly, how much are they increasing or decreasing or how long have they been flat-lining?

This is a complex issue. Sales may be driven the economic conditions, internal issues at the company, seasonality, or any of a variety of other factors. The point is this. Is the arrow pointing upward or at least straight out or not. If not, can this be turned around?

6. Instant Coffee

Believe it or not, coffee was not always instant and fast-food restaurants did not exist.

We are less patient now-with everything.

What does this have to do with the market value of a business? Just this. Smart valuators look at a business and ask themselves: Could a new owner walk in and run this business the day he or she took over? This involves the key personnel, the hardware store, and how well organized the operation is.

The closer the answer is to being truly turn-key, the better the business.

7. Do You Have Tenure?

Professors and Supreme Court justices are pretty much the only people in this country that get tenure-lifetime job security.

Printers surely don't. But the older and more established the company the better.

This one doesn't rank very high, because clients often could care less about how "Graybeard Service has been meeting the needs of our metropolitan area for the last 14 billion years," but it does speak to company visibility in the marketplace and, as such, merits note.

Disclaimers

Remember, this is just a start, my friend. Every business is unique and so one size doesn't fit all. Moreover, there a variety of multipliers used to arrive at a dollars and cents value of a company. These change regularly and are affected by region, type of company, the economy, whatever.

This grid, however, is pretty solid. The last 7 businesses I valued drew buyer interest almost immediately because of they did nicely on these 7 steps.

Do you have a question for Dr. David? First, visit his website: Businessbuysellnow.com [http://businessbuysellnow.com/]. Call him directly at 702-354-7000 or email him drdc25@yahoo.com