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One of the easiest ways to grow American minority-owned businesses is to sell products and services to people outside the U.S.

How To Get Help Growing Your Business
Posted: 8/19/2010

(NAPSI) - When it comes to expanding your business globally, minority-owned firms have a natural competitive advantage--and a new initiative may further improve their chances at success.

The minority business community has a great advantage in the global market--due in large part to language capabilities, cultural compatibility, ancestral ties and business agility.

President Obama's National Export Initiative (or NEI) calls for doubling U.S. exports within five years. Under the NEI, there will be more credit available for exporters, more government trade promotion and a sharper focus on knocking down the barriers that prevent U.S. companies from getting free and open access to foreign markets.

The goal of the NEI is to increase the number of small, medium-sized and minority-owned firms exporting to more than one market by 50 percent over the next five years. The initiative also hopes to focus attention on exporting to emerging markets, and identifying market opportunities in fast-growing sectors such as environmental goods and services, renewable energy, health care and biotechnology.

More than 95 percent of the world's consumers live outside the U.S. and one of the easiest ways to grow American minority-owned businesses is to sell products and services to people outside the border of the United States. To assist minority-owned firms in breaking into global markets, MBDA Business Centers work with a variety of partners to help create strategies for growth.

To help grow your export business, MBDA recommends you:

• Look at industry trends and know your position within the domestic market prior to establishing an international business strategy.

• Research the global market for your products and services.

• Determine the effects of exporting on your current operations.

• Outline what resources you will need to successfully execute your export strategy.

• Familiarize yourself with various global distribution channels.

• Contact an MBDA Business Center to assist you. There are more than 45 Centers nationwide. Visit www.mbda.gov to locate a Center near you.

Sandpoint, Idaho, has fostered a number of successful entrepreneurial ventures, including Litehouse Dressings and Coldwater Creek, which have grown to become large national companies.

Tips For Being A Successful Entrepreneur In A Challenging Economy
Posted: 8/12/2010

(NAPSI)-Jobs are few and far between these days, so more people are hanging out their own shingle and starting a business.

But not everyone is cut out to be an entrepreneur. Hours can be long, starting up can be expensive and there's no guarantee for success. But for many, the satisfaction of being their own boss is priceless.

"The rewards of successfully operating a business are phenomenal," says Jim Hogge, a business adviser in one of the most entrepreneurial states in the country--Idaho, which ranks fifth in the nation for new startup businesses.

Hogge, director of Idaho's Small Business Development Centers, says certain factors need to come together in order for entrepreneurs to be successful.

So what does it take to be an entrepreneur?

Here are some questions to ask yourself before starting a business:

1. Can you be a leader? Do you have the vision, passion, discipline, organizational skills and the motivation to work through the good and bad times?

2. The average entrepreneur works 67 hours per week. Are you willing to devote the time to make the venture successful?

3. The founder typically provides 25−35 percent of the funds needed to start a business. Do you have access to this much money?

4. Do you have experience in operating this type of business or a similar business? It is challenging to start a business without having to learn everything about the business as you go.

5. Entrepreneurship is a family endeavor. The business will initially take much of your time and can be a lonely journey. Will your family provide the support you will need?

6. Is your location helping you? Choosing a place with low taxes, access to university assistance, a dedicated workforce and low energy and business costs is more important than ever when every dollar counts.

"The entrepreneur can build something that is enduring and financially rewarding," says Hogge. "Most importantly, there is a great deal of enjoyment, satisfaction and even fun in building your own business."

To learn more, visit www.commerce.idaho.gov/building-your-business.

Solutions for Small Business is unlocking the secrets to entrepreneurial success.

The Secret To A Successful Small Business
Posted: 8/5/2010

(NAPSI)-Small businesses are rapidly becoming large forces in the market.

According to U.S. Small Business Administration administrator Karen Mills, "Small businesses are a key engine for job creation across the country." They are reaching larger audiences in a more targeted manner. Their small size and correspondingly simpler organizational charts often let them leverage technological developments more quickly and to greater tactical advantage than those in larger organizations.

For example, adapting to Web-based computing where shared resources such as software and information are provided on demand needs less staff and infrastructure, both of which are more entrenched in larger organizations, thereby requiring staff buying and training.

With fierce competition amid the backdrop of an economic downturn, smart business decision makers know they must employ cutting-edge technology solutions to help with customer acquisition and customer retention and to achieve organizational success. Yet, according to the Yellow Pages Association, more than half of small businesses say that generating new customers is a challenge for them.

As a whole, small businesses are frequently claiming a bigger piece of the market by harnessing some of the innovative Web-based business tools and services available from cable companies.

While today's small businesses may be cutting back in all aspects, there is help for entrepreneurs who want to remain viable and competitive. Small-business executives are discovering a wealth of battle-tested solutions to help them market their products and services, raise capital and boost employee productivity through webcasts, podcasts, case studies and white papers, all free from America's top cable companies at www.solutionsforsmallbusiness.com, so they can gain an edge over their competition.

Small Businesses Make Something Big Of Themselves

Small Businesses Make Something Big Of Themselves
Posted: 7/29/2010

(NAPSI)-More and more small-business owners have their heads in the clouds these days--and that's a good thing.

That's because Internet-based, "cloud" computing and communications services accessible from any PC and from any location are now available at a fraction of the cost of hardware alternatives. These solutions offer small businesses tremendous flexibility and productivity advantages while eliminating the burden of managing and supporting costly, premises-based equipment.

It helps that one company known for developing innovative business communications services offers a powerful cloud communications solution that lets subscribers manage day-to-day communications online from any Web browser. This enhances business productivity while reducing overhead expense by providing integrated, one-stop access to an affordable suite of essential communications tools.

The 8x8 Virtual Office Pro cloud communications solution features an easy-to-use online dashboard that enables:

• Unlimited local and long-distance VoIP (Voice over Internet Protocol) calling (plus advanced PBX calling features) from a PC, iPhone or desk phone;

• A visual overview and online control of business calling activity;

• One-click access to contacts and co-workers;

• Video Web conferencing with call recording and archiving;

• Unlimited faxes;

• Presence management that tells workers whether you're logged in, logged off, on the phone, off the phone or currently unavailable;

• A comprehensive view of all voice mails, recordings, fax messages, calls and chat history.

According to Matthias Machowinski, directing analyst for enterprise voice and data at Infonetics Research, "From our IP PBX survey, it appears businesses are increasingly embracing a hosted services model to more easily ramp their capacity needs up and down without a huge cash layout for equipment."

With hosted services like 8x8 Virtual Office Pro, priced at under $50 per user, a company's administration and use of its everyday communications tools are now as simple as sending an e-mail or clicking a contact name to place a call. This is further enhanced by the efficiency and productivity advantages associated with having supplemental communications capabilities from a single provider right at your fingertips.

For additional information, visit www.8x8.com or call (866) 879-8647.

Businesses of any size can save money and gain access to valuable communications services simply and affordably.

Franchises offer their franchisees education and support.

Want Your Own Business? Consider a Franchise
Posted: 4/17/2010

(NewsUSA) - Entrepreneurs hoping to become their own boss know that it can be difficult to get a leg up in the business world. But there are ways to improve the chances of success. For example, purchasing a franchise allows Americans to enjoy the freedom of business ownership with fewer risks.

United Franchise Group (www.unitedfranchisegroup.com), which encompasses successful franchises such as Signarama, EmbroidMe, Billboard Connection and Plan Ahead Events, exemplifies some of the benefits of purchasing a franchise.

• Franchises provide proven business models. With a first business, it stands to reason that your business model will need adjustments. But when you purchase a franchise, you buy a business that knows how to operate. Franchises have a track record of success.
  
  
• Franchises come with built-in name recognition. Any successful franchise has spent years building its brand name and gaining public recognition. That means that the public immediately trusts new franchise locations. Instead of spending time and energy just getting the word out, you can devote yourself to running your business.
  
  
• Franchises offer financial advantages. Franchises can buy items in bulk, reducing costs for individual locations. Additionally, banks may be more willing to provide funding for a franchise than an independent business.
  
  
• Franchises offer training and support. For example, UFG employs a group of trained support specialists who travel to stores around the world to assist in everything from basic operation to business development. UFG also uses a mentorship program to help new franchisees. The company selects highly successful franchisees to advise new stores on opening, technical questions and other issues, as well as to provide motivation.
  
  

If owning a business sounds attractive, buying a franchise might just be the way to go. But it's important to do your research. For additional facts about UFG, visit www.unitedfranchisegroup.com.

Tax Relief for Ponzi Scheme Losses

The name Bernard Madoff will forever be associated with investment fraud. Unfortunately, however, Madoff is not the only bad apple involved in handling the money of trusting investors. With the softening in the stock market, many fraudulent investment schemes across the country have come tumbling down like a house of cards.

If you have fallen victim to one of these schemes, the California Society of CPAs (www.calcpa.org) advises that you may qualify for tax relief on your losses in an investment scam.

TAX DEDUCTION AVAILABLE Fraud victims may never recover most of the money that they lose from a con artist like Madoff, but they may be able to lower their tax burden as a result of their loss by using an optional safe harbor method for computing and reporting these losses. That's because the Internal Revenue Service announced last year that Ponzi scheme victims generally can deduct as much as 95 percent of their qualified investment, as long as they are not involved in a lawsuit to recover those losses.

If they are suing for recovery, they can deduct up to 75 percent of their qualified investment. The deductible amount is reduced by any actual recovery and potential recovery claims under insurance policies or through an appeal to the Securities Investor Protection Corp. (SIPC), which reimburses victims of investment fraud, theft or failure.

DOES NOT APPLY TO INVESTMENT LOSSES Keep in mind that the tax relief does not apply to investment losses you may have incurred due to a drop in stock market prices or similar trading losses. It is aimed at fraudulent business practices, not bad investment choices.

It is only in force for those who fall victim to what the IRS refers to as "specified fraudulent arrangements." In these cases, the con artist must have received cash or other property directly from the investors, falsely told the investors that the money was invested and earning income, reported income amounts to the investors that are partially or totally fictitious, stolen some or all of the investor's money, and made payments to some investors using money obtained from other unwitting investors in the scam.

In other words, the fraud must essentially meet the definition of a classic Ponzi scheme, as Madoff's scam did.

CHARGES REQUIRED You are not allowed to deduct losses unless there is some official acknowledgement that a crime may have occurred. To that end, the person or group leading the scheme must have been charged under federal or state law with fraud, embezzlement or a similar crime that would be considered a theft under the definition of theft in the Internal Revenue Code, or must have been the subject of a state or federal complaint alleging such a crime. In addition, the victims must have been unaware of the fraud.

Although the scam may have gone on for a long period, taxpayers are eligible to take the deduction in the year they became aware of the fraud. That means that on the tax returns being prepared now, you can deduct losses on frauds you discovered in 2009.

TURN TO YOUR LOCAL CPA With any investment offer, remember that when something sounds too good to be true, it usually is. There are also often clues that a fraud is being committed, including claims of unrealistic profits or unbelievable potential. If you have suspicions about any investment opportunity, be sure to turn to your local CPA with questions. He or she can help you evaluate any offers and consider warning signs of trouble. Your CPA can also provide guidance on tax relief for victims of investment fraud and answer any other tax or financial questions you may have.

To listen to podcasts with more financial tips, go to http://www.calcpa.org/Content/community/financialempowerment.aspx.

NFIB of California Releases Legislative Voting Record for 2009

SACRAMENTO, Calif., February 24, 2010 – On a regular basis, the National Federation of Independent Business, America’s leading small business association, tracks the voting records of each member of the state Assembly and Senate. The Voting Record provides a critically important evaluation of a legislator’s attitude toward small business.

“The proof is in the pudding,” said NFIB/California executive director John Kabateck. “To those legislators who proved their support for the more than 700,000 small employers and more than 3 million small businesses in California, we offer our sincere gratitude. For those legislators whose support could use improvement, we offer an open door, attentive ear and strong support to assist them in making California a better place for our job creators.”

“California cannot afford the empty talk of well-intentioned and honorable elected leaders. Elected leaders will never create a single job in the private sector, only California employers, the vast majority of whom employ a handful of workers, will ever have that honor. However, the Governor and legislators do have the opportunity and responsibility to create an environment that allows small business owners to prosper and fulfill the role of creating nearly three-quarters of new jobs in the Great State of California.”

The NFIB/California Voting Record is developed by selecting key bills proposed by the legislature that affect small businesses. The votes on those bills are then recorded and a percentage is determined for each member of the Assembly and Senate. In 2009, more than eighteen members of the Assembly and more than fifteen members of the Senate had voting records of eighty percent or better.

California May Influence IRS Tax Preparer Proposal

SACRAMENTO, Calif.--(BUSINESS WIRE)-- Internal Revenue Service Commissioner Douglas Shulman plans to recommend to the President and Treasury Secretary by the end of this year that income tax preparers need to be regulated by the federal government.

“Beauticians in most states have to be licensed, yet the majority of tax preparers nationwide, who handle one of the most important documents for consumers each year do not have to be educated or insured,” said Celeste Heritage, administrator for the California Tax Education Council (CTEC), which oversees a state requirement to register unlicensed tax preparers.

The IRS has been holding meetings with industry leaders, including CTEC and its enforcement partner, the Franchise Tax Board, for insight on establishing a federal standard. California, New York and Oregon are the only states that have set requirements for paid tax preparers; however, Maryland is also working to implement legislation it passed in 2008.

In California, anyone who prepares income tax returns for a fee and is not a licensed attorney, certified public accountant (CPA) or IRS enrolled agent (EA) is required by law to register with CTEC. Each CTEC-registered tax preparer (CRTP) has to complete an educational requirement on tax laws and obtain a surety bond to protect clients against fraud.

According to the IRS, federal oversight of tax preparers is necessary in order to reduce fraud, improve compliance and close the tax gap. It is a proposal that does not seem to have much opposition other than how to fund it; however, CTEC believes there is a solution.

“CTEC is a good model because it has tax professionals regulate their own industry at no cost to the state,” said Alan Shattuck, CPA and CTEC board member. Before CTEC was established in 1997, the California Department of Consumer Affairs managed the registration of tax preparers. To help save money without jeopardizing the protection of taxpayers, the state decided to privatize the program. Today CTEC is a nonprofit quasi-public benefit corporation that is run by a board of directors representing tax professionals, three staff members and is funded by CRTPs who pay an annual $25 registration fee.

“We have an extremely useful program that can be used nationally,” said Heritage. “The IRS should seriously look at CTEC and consider privatization.” Last year CTEC registered more than 44,000 tax preparers. CPAs and CRTPs are the two largest tax preparer groups in California. Please visit www.ctec.org or call (877) 850-2832.

Source: California Tax Education Council

California Society of CPAs Opposes New Tax Proposal
Opinion Editors/Business Editors/Political Writer

REDWOOD CITY, Calif.--(BUSINESS WIRE)--May 2, 2008--A sales tax on services, including those provided by accountants, would be unnecessarily burdensome on small businesses, tax consumers for filing taxes, and prompt businesses to move to states that do not tax services, says the California Society of CPAs (CalCPA).

"CalCPA opposes any effort to impose a tax on services," said Teresa Mason, chair of the 32,000-member association. "Consumers in California already pay among the nation's highest sales taxes on products. A sales tax on services is an extra burden on consumers as well as on businesses."

Mason's comments responded to reports that the administration of Gov. Arnold Schwarzenegger may recommend taxes

"Businesses who pay sales taxes on services they use will have to raise the prices of products they sell consumers to compensate," Mason noted. "And if accounting services are taxed, people and small businesses will be paying a tax for having CPAs and tax preparation services prepare their federal and state returns. That's essentially a tax on taxes."

In addition, Mason observed that California taxpayers would likely not be able to deduct taxes on services from their federal income taxes; thus, their overall tax burden would be higher than that of residents of states that do not tax service

Mason said that a tax on services could result in businesses leaving the state for states that do not impose similar taxes. "If the goal is to find additional sources of revenue, how will that happen if businesses--as well as their employees--flee the state? Fewer businesses and fewer employees mean state income tax revenue will drop. Taxing services unlikely will replace such lost revenue, let alone increase tax revenues overall.

Mason also commented that a sales tax would complicate administrative record keeping on the part of small businesses unused to collecting taxes from clients. Such administrative costs would then be passed on to clients and consumers, further increasing the cost of services.

"Consumers are motivated to save money wherever they can," Mason pointed out. "If businesses in regulated professions and industries are required to collect taxes for services, consumers may turn to unregulated and unscrupulous suppliers. Should that happen, consumers could get harmed and California's economy won't be helped either because the taxes will be lost.

Added Mason, "Taxing services is a bad idea for the State of California. It will damage California's overall business climate. In the end, savvy businesses and consumers will move to other states with less egregious tax laws.

About CalCPA
The California Society of Certified Public Accountants (CalCPA) (www.calcpa.org) is the nation's largest state accounting organization. It serves 32,000 members in public practice, private industry, education and government.

The Future of Telephone Technology
New Internet Calling Opportunity - Great for Stay-at-Home Moms

(COLORADO SPRINGS, Colorado) - It wasn't long ago that rotary phones were in fashion. These days, the internet is a growing means of telephone communication. Voice Over Internet Protocol (VOIP) companies, which offer internet telecommunications services are growing rapidly.

One company, called VIPConnectz!, offers these international internet-based telephone services for individuals and small businesses. The company uses a flat-rate fee for all international calls, taking the guess-work out of global calling.

"VOIP is a billion dollar industry," said Leon Gillis, who is affiliated with VOIP company VIPConnectz!." Some analyst seem to think that in the future all telephone calls will be made over the internet because of the low cost."

In a recent corporate call, Gillis discussed just how many multi-millionaires will be created by this new technology and how those who are involved early will have the greatest earning potential.

"Imagine calling across the world by using the power of the internet and knowing exactly how much it will cost," said Gillis. "There is a reason this new technology is growing rapidly - we are connecting the world."

The company uses affiliate marketing to spread the word, which also allows individuals to tap into this growing phenomenon, while earning extra income.

"Stay at home moms in particular are very excited about this opportunity," said Gillis. "Anyone who could use extra income will be enthusiastic when they hear the details."

Affiliates receive a monthly residual income for direct sales. They also receive income from independent sales representatives and managers. A compensation plan, and several bonuses - including for signing up - are exciting for affiliates.

"This is a way we share this new technology with those who want more than the average work day - for people whose dreams are bigger than that," said Gillis.

Contact Leon Gillis by calling 719-574-4005 or go to his web site www.vipconnectz.com.

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