SMALL BUSINESS NEWS
ASU-SBDC NEWSLETTER |
APRIL 2011 |
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Greetings!
Congratulations to local entrepreneur Lisa Maciejewski of Gold Star Medical Business Services, who won the SBA 2011 Women in Business Champion of the Year award. Lisa will receive her award at a special awards ceremony on May 26th in San Antonio.
 Among other things, three keys to running a successful small business are technical expertise, marketing expertise, and management of finances, human resources and operations. Most know how to "make it and sell it," but many would say their weakness is the financial part of running a small business. Lack of attention in this area will cause an eventual decline of a business.
The first step in managing and understanding the financial part of your business is producing timely and accurate financial statements (balance sheet and profit and loss). QuickBooks can do this easily, as long as it is set up correctly and the input is correct. The next step is learning how you can use your financial statements to spot trends and make good management decisions for your business. Where can you find help in this area? Your accountant. The SBDC has also helped many gain knowledge and insight into this important area.
There is a revolution taking place in mobile technology available to small business. Mobile technology can make some small businesses more competitive and efficient. See the Standard Times article below titled "Mobility makes its impact on business" for more details.
Want to sell your goods and services to the government? If so then plan on attending the "How to Do Business with the Government" event on April 21st from 9 am to 2 pm at the West Texas Training Center.See below for more details.
Is your operation lean and mean? Experts from the Texas Manufacturing Assistance Center (TMAC) in San Antonio will be here on April 14th to conduct a Lean Manufacturing workshop from 10 am to 2:30 pm at the West Texas Training Center. Lean principles will be taught that you can use in any small business, even if you are not a manufacturer.
Best Regards,
Dave Erickson
SBDC Director |
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| ASU-SBDC | |
Contact Us!
Advising Services: (325) 942-2098
Training Services: (325) 942-2019
Website: www.sbdc.angelo.eduProudly serving the small businesses of San Angelo and the Concho Valley for over 20 years. |
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| TOP SMALL BUSINESS NEWS | |
HEALTH CARE REFORM UPDATE
Source: ASBDC Network Connection
The health care reform legislation passed into law a year ago, gives small businesses important tools to help them compete, create jobs and drive economic growth. It's critical that small businesses take full advantage of the benefits of the law.
Eligibility for Tax Credits:
The Affordable Care Act provides tax credits of up to 35 percent of employee premium costs, helping small business owners reinvest thousands of dollars to grow their business and create jobs at tax time.
· Have started or continued health insurance coverage for employees in 2010
· Contribute at least 50 percent of employee premiums at the single coverage rate
· Have fewer than 25 full-time employee equivalents (part-time employees are counted proportionately)
· Pay their employees an average of less than $50,000
The IRS has provided a simple three-step worksheet check it out here.
2011 PERCENTAGE METHOD TABLES FOR INCOME TAX WITHHOLDING
Source: irs.gov
View release copies of the Percentage Method Tables for Income Tax Withholdings that will appear in Publication 15 (Circular E), Employer's Tax Guide (for use in 2011). These tables were developed as a result of the recently passed Tax Relief, Unemployement Insurance Reauthorization, and Job Creation Act of 2010.
NEW ADA REGULATIONS IN EFFECT AS OF MARCH 15
Source: DBTAC Southwest ADA Center
In the past, most small businesses have been exempted from complyaing with many of the ADA regulations - either due to the number of employees, size of the business, or age of the building. The new requirements will impact, to varying degrees, all businesses that provide goods or services to the public.
The Department of Justice has developed a guide to assist small businesses to understand their obligations under the revised rules. ADA Update: A Primer for Small Business is an illustrated guide with easy-to-understand language that provides an overview for complying with the revised regulations.Call the toll-free ADA Information Line at 800-514-0301 (voice) or 800-514-0383 (TTY) with any questions regarding the revised regulations. |
| BUSINESS TIPS ARTICLES | |
 Each week, a member of the ASU-SBDC staff submits a Business Tips article for the San Angelo Standard Times business section. (Articles published Mondays). You can also find them here each month.
 MOBILITY MAKES ITS IMPACT ON BUSINESS
By Dave Erickson (3/27/11)
There is somewhat of a revolution taking place in how small businesses get things done, connect with their customers and suppliers, and keep their fingers on the financial part of their business. The revolution is mobile technology... read more.
LISTEN TO AVOID CONFLICT
By Cindy Hartin (3/13/11)
You've heard the saying, "It's not personal, it's just business."
When we use this phrase we typically mean that the listener knows we are just doing business. But, I can tell you, as a business owner, an employee, a manager and as a customer, my emotions surface even in a business transaction... read more.
BUSINESS MENTORS GOOD FOR BUSINESS
By Pedro Ramires (3/6/11)
Starting and growing a new business is a challenge-filled endeavor. Often these challenges can range from obtaining financing to creating the identity of your business. One of the most daunting hurdles to overcome is the access to relevant experience when establishing your business. ... read more. |
| FEATURED SUCCESS STORY |
 HEART OF TEXAS AIRCRAFT ENGINE, INC., BRUCE MCWHORTERBy Peggy Hodges, Business Development Specialist and Rural Business Advisor, CBA IV
Bruce McWhorter, aircraft engine mechanic, was looking for a town to locate his new business. An aircraft mechanic for many years, Bruce wanted to move from Devine, Texas and open his own shop. In all the cities he visited, Joe Mossier, airport manager for Brady, Texas, offered the most.
With encouragement from Joe, Bruce began to seek funding for his project. He searched the internet for guidance on the process and called the Angelo State University - Small Business Development Center. "Before contacting Ms. Hodges, I had no idea what a business plan was. Ms. Hodges supplied me with numerous examples and helped me to put a long term plan together for my business."
With business plan in hand, Bruce approached the McCullough Economic Development Board. After several meetings, the MEDC awarded Heart of Texas Aircraft Engine, Inc. the investment of an airplane hangar for his business. The $348,000 project was completed in December and Bruce will be open for business January 1, 2011.
The initial impact on the economic base of Brady is one job, and Bruce is confident that he will be hiring employees soon.
"We want you to know that your aircraft is just as important to us as it is to you, and we will do all we can to ensure the safety of your aircraft." Bruce McWhorter
-------------------------------------------------------------------------------------------- Read more success stories on our website and learn about the many ways the ASU-SBDC can assist entrepreneurs and small business owners just like you start or grow successful businesses.
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| COMMUNITY BOX | |
YOUR HELP IS NEEDED!
PLEASE COMPLETE THIS SURVEY: SOCIAL MEDIA MARKETING ROI
Three graduate students at Angelo State University are conducting a survey to analyze how small businesses plan, use, and measure the return on investment of using social media platforms. Please take ten minutes and complete the confidential survey at the link below.Link: http://www.surveymonkey.com/s/SMSASU |
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"The real source of wealth and capital in this new era is not material things... it is the human mind, the human spirit, the human imagination, and our faith in the future." -- Steve Forbes |
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Angelo State University SBDC
Mailing Address: ASU Station #10910, San Angelo, TX 76909
Office Location: Rassman Room 100, 2222 Dena Dr., San Angelo, TX 76909
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