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Welcome to SCORE!
Greetings!
SCORE, Service Corp Of Retired
(and Working) Executives, Counselors to America's Small Business offers
free counseling to St. Louis area small businesses.
For more
information contact us at
314-539-6600 Ext. 242 or
www.stlscore.org
to learn more about what SCORE offers.
SCORE will host SBA Express Loan Workshops
June 9, 10 & 11, 2009 Details Soon!
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St. Louis SCORE
200 North Broadway
Suite 1500
St. Louis,
MO
63102
314-539-6600 x242
http://www.stlscore.org
St. Charles Office
636-447-5000
St. Charles Economic Development Center
5988 Mid Rivers Mall Drive
St. Charles, MO 63304
Kirkwood Office
314-800-1527
Inside National City Bank
333 S. Kirkwood Rd
Kirkwood, MO 63122
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Don't
Delay Dealing With Delinquent Accounts
As
a small business owner, you do you best to meet your obligations to your
customers. So it's only natural to
expect them to pay their bills on time, right?
Unfortunately,
the answer is not always. Most customers
are conscientious about making timely payments, but others may require some
extra effort. Though frustrating and
time-consuming, collecting from delinquent accounts is not something you should
put off.
Obviously,
prevention is the best way to avoid having to deal with collections in the
first place. Establish a standard
payment policy and make your customers aware of it before starting work. Your
invoices should also clearly state when the total amount is due and the fee for
late payments.
And
once those deadlines pass, you need to take action.
Get
the facts. Don't assume the customer is entirely wrong.
Contact them by phone or mail and ask politely for an explanation. It may well be that the invoice has been lost
or is awaiting approval. A customer with
cash flow problems may also request extra time.
How you proceed depends on the situation and your experience with that
account. Make sure the customer clearly understands
any compromise. Be flexible, but firm;
and don't hesitate to follow up.
Take
stronger action. If your initial
collection attempts fail, it may be time to turn to an attorney or collections
firm. Terms for these services vary from a flat fee and/or percentage of
the invoice amount to a retainer. The Commercial Collection Agency Association at www.ccaacollect.com and Collection
Agency Research at www.collectionagencyreserach.com
offer guidance on fees and guidance for choosing a collections agent for your
needs.
Or
let it go. You may decide the amount of the overdue
account does not justify the cost and effort to collect. If so, write it off as a bad debt and move
on.
Don't
make the same mistake twice. Should customers with
poor payment histories approach you about working for them or restoring credit,
don't immediately refuse unless you are absolutely certain they remain bad
risks. Ask them to explain how their
situation has changed and decide whether it makes sense to restore the
relationship. As a precaution, insist on
stricter terms such as advance payment or cash-only.
If you need
help with your business take the time to call a SCORE Counselor. A SCORE Counselor can help you solve problems
and plan for the future. Contact SCORE at 314-539-6600 Ext. 242, M-F 10am to
3pm or go to www.stlscore.org.
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SCORE Chapter 21 Monthly Seminars
Improve Your Business! REGISTER NOW
"How to Start and Manage Your Own Business"
Saturday, May 16, 2009
8:15 A.M. to 3 P.M Fee - $50.00
St. Louis Community College
Meramec Campus
Register Now!
Upcoming SCORE Seminars
"How to Start and Manage Your Own Business"
June 13, 2009 - St. Louis C.C. @ Meramec
SCORE Workshops
Understanding Finance
May 23, 2009 Registration Fee $40.00
This Workshop will be held at the offices of Brown Smith Wallace,
1050 North Lindbergh Boulevard
St. Louis, MO 63132
To learn more about any of these courses and dates, times and how to register -
CLICK HERE
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Going green: How to cut costs and save the planet Excerpted from: Microsoft Live Office - The author-
Joanna L. Krotz is the founder of Muse2Muse Productions.
One of the hottest colors in business marketing these days is bright
green. Increasingly, customers prefer brands that use resources wisely
and respect the environment.
In a 2007 survey of "green" brands, for example, consultant Landor
Associates found that consumer interest in sustainable products has
soared, noting "nearly all Americans display green attitudes and
behaviors versus a year ago." Plus, customers will now pay a premium to
support "green" efforts. Going green also has been found to cut operating costs. Home-based
businesses can reduce energy bills by as much as 30 percent.
Reduce, recycle, reuse
Step 1: Measure your carbon footprint
First, you must figure out how your business
consumes resources. Overall, consider your energy and water use, what
can be recycled, and the quality of your environment and indoor air. An energy audit from your local utility is a good place to start. Most utilities offer free advice about becoming
energy efficient, either on site or via phone.
Step 2: Draft a strategic plan
Don't try to do everything at once. Instead, set up a plan to phase in changes as you have the time and resources. Be flexible. To reduce costs and "green" your workplace, consider these six ideas.- Switch to electronic communications.
- Mind the basics. Timers, light bulbs, Energy Star Ratings....
- Engage your customers. Re-usable shopping bags, etc.
- Don't be a technology hog. Turn equipment off overnight.
- Recycle technology and peripherals.
Step 3: Promote your greener business
Once you're on the path to green, let your customers know, whether
by newsletter, an e-mail blast, phone conversations, or other marketing
channels.
Also, think beyond simply saving energy or water. You might extend
your product line into sustainable versions of what you sell. One thing's for sure: The market for green products and practices is
attracting more and more folding green every day. For the full article: Click Here
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US Dept. of Labor - COBRA Provisions in the American Recovery and Reinvestment Act
The American Recovery and Reinvestment Act of 2009 (ARRA) provides for premium assistance for health benefits under the Consolidated Omnibus Budget Reconciliation Act of 1985, commonly called COBRA. The premium assistance is also available for continuation coverage under certain State laws. For coverage periods beginning on or after February 17, 2009, assistance eligible individuals pay only 35% of their continuation coverage premiums to the plan. The remaining 65% is reimbursed to the plan, employer, or health insurance
Notice 2009-27, Premium
Assistance for COBRA
Benefits, includes 58 questions and answers on the COBRA subsidy
provision of the recent Recovery Act, including involuntary termination,
assistance eligible individual, and payments to insurers. www.dol.gov/COBRA
has expanded FAQs for Employers and a webcast on COBRA.
Also - IRS Help - IR-2009-26
Small businesses with deductions exceeding
their income in 2008 can use a new net
operating loss (NOL) tax provision to get a refund of taxes paid in prior years. A question-and-answer document has more information on the new provision.
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Business Incubation, Finance & Development |
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EDC Announces New Local Effort to Encourage Business Lending -
EDC offering business loan discounts on top of recent federal reductions
ST. CHARLES COUNTY, MO Regional businesses seeking fixed asset financing through the SBA 504
loan program will find it just got more affordable thanks to
recent fee reductions.
Reductions in the SBA loan programs went into effect February 17, 2009
as part of the American Recovery and Reinvestment Act.
Joining in the national effort to encourage business lending, the Economic Development Center (EDC) of
St. Charles County has announced that
it is temporarily eliminating its $500 application fee
for the duration of the SBA's reduction program.
Certain closing costs will also be covered by the Industrial
Development Authority of St. Charles County for loan projects in St.
Charles County.
"The EDC is pleased to offer regional businesses this limited time
offer lowering their costs as they seek the capital necessary to grow
their operations and facilities," said Greg Prestemon, EDC president
and chief executive officer.
For more information about these loan fee reductions, contact Mark Diliberto at 636-441-6880.
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Resources For You
St. Charles EDC - Alliance Training Seminar on May 14.
"Emotions--Use Them to Your Advantage"
Workshop -
Thursday, May 14, at Old Hickory Golf Club, #1 Dye Club Drive in St. Peters.
Sign-in, networking and continental breakfast for this three-hour workshop
begins at 8 a.m. Instruction starts at 8:30 a.m. and the program will
conclude by 11:30 a.m.
Register Online
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Southwestern Illinois Entrepreneurship Center At SIUE -
The center covers a large area servicing a number of Illinois counties.
Located on the campus of Southern Illinois University Edwardsville, the
Southwestern Illinois Entrepreneurship Center is part of a statewide
effort to build a more vibrant economy. They serve as a regional hub for coordinating
entrepreneurship development activity.
Visit at http://www.siue.edu/business/ec/
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The U.S. Small Business
Administration (SBA) will mark National Small Business Week, May 17-22, in Washington, D.C.
Small Business Week will showcase Small Business Persons of the Year winners
from each state and feature the announcement of SCORE's Chapter of the Year.
The 2009 Kirkwood - Des Peres Small Business Week Program - May 11 to May 15. More information here
More Local Small Business Week Events - SBA brochure
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SCORE members,
The next Member meeting will be May 21, 2009. Please plan to attend.
Join Member L. Ross as he presents "How to Get Money" - 8 am to 8:40 am and again at 8:50 am on a panel May 15th at the SLCC @ Meramec for the Kirkwood/Des Peres Chamber Business Week program. All SCORE volunteers are welcome. Please wear your name badges.
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Brought to you by SCORE "Counselors to America's Small Business," a nonprofit association and resourc e partner with the U.S. Small Business Administration. SCORE is dedicated to entrepreneurship and the formation, growth and success of small businesses nationwide. Since 1964, SCORE has helped more than 8 million entrepreneurs.
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© Copyright 2009. SCORE Association. All rights reserved.
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