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Small Business Connections June 2010 |
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Welcome to Small Business Connections!
The Illinois Small Business Development Center at Waubonsee Community College is here to serve your small business needs. We offer free business counseling to entrepreneurs and business owners, as well as a variety of small business workshops.
Call us today at (630) 906-4143 to learn how we can help you start or grow your business. |
| Small Business Spotlight |
Master Uniform - A New Generation of an Old Family Business
Waubonsee SBDC client Karen Olsen and her husband, Brian, recently purchased the family uniform business from Brian's uncle, assuring another generation would carry forward this small manufacturer in Oswego, IL.
Master Uniform manufactures everything from uniforms to aprons, laundry and tote bags, banners and other specialty items. They specialize in smaller order sizes, and custom colors and designs that aren't available from larger manufacturers. Customers include retailers, grocers, medical facilities, and non-profit organizations, from as far away as Texas and South Dakota.
The company began in the 1940's on Wabash Street in Chicago. Brian's uncle worked in the business, and ultimately purchased it in 1980. In 1981 he relocated the business to Bedford Park, and moved again in 1991 to its current Oswego location at 2101 Albright Road.
Brian began working in the business when he was 12 years old, ultimately working his way up to shop manager. He left the business in 1990 when he joined the Aurora Police Department. When Karen was in high school and dating Brian, she folded T-shirts on weekends - earning money that helped pay for their wedding. Years later, their son also joined the business as screen printer.
Last year, Brian's uncle announced his plan to retire and sell the business. After several other potential buyers were unable to obtain financing, Karen and Brian began looking into purchasing the business. Karen visited the SBDC for assistance with a business plan, and obtained an SBA 504 loan to purchase the property and assets of the business.
Since taking over the business in February, Karen has already made many changes to ensure that the business will grow and prosper for another generation. Key improvements included getting employees more involved in business operating decisions. This had an immediate impact on the bottom line, as employees made suggestions that resulted in reduced scrap, and increased operating efficiencies.
Karen has also been steadily relegating years of older equipment to storage for eventual sale or disposal. As you can imagine, the facility is a fascinating snapshot of the history of a small manufacturer, and she is determined to make the business more efficient but still retain its heritage. For instance, they have the pattern for every item the company has every designed (and a sample of most.)
Karen is in the process of working with a web and graphic designer to modernize their logo and put up a web site, which should be up and running soon: www.master-uniform.com. The new company tag line is "A thread of Quality runs through everything we do." When you talk to Karen Olson, you know immediately that this is not just a marketing slogan, but a philosophy that she has applied to running the next generation of the family business. |
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IL SBDC News and Events | | |
Constant Contact Workshops
Learn how to get started with Constant Contact email marketing:
Getting Started with Constant Contact - Wed. June 2, 9-11 a.m.
Event Marketing with Constant Contact - Wed. June 9, 9-11 a.m.
All workshops will be held at Waubonsee Community College Sugar Grove Campus, Academic and Professional Center (APC) Room 110-A. The cost for each workshop is $25. Register at www.waubonseetickets.com
Workshops are brought to you by the IL SBDC in partnership with the Aurora Regional Chamber of Commerce and Constant Contact. Check out the flier for more information, or call the IL SBDC at (630) 906-4143.
Doing Business with the Federal Government
Congressman Bill Foster's office will be holding a workshop, Doing Business with the Federal Government, with representatives from the General Services Administration (GSA), Small Business Administration (SBA), and Procurement Technical Assistance Center (PTAC).
Thursday, June 3, 2010
Registration and Breakfast: 7:30
Program: 8 - 11:30 a.m.
Hilton Garden Inn
4070 East Main St.
St. Charles, IL
No cost to attend.
Questions: Matt Rado, (630) 406-1114 |
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Biz Buzz | |
Small Business Tax Credits | |
Here are some highlights on two new tax credits available to small businesses:
Job Creation Tax Credit
- $2,500 tax credit on withholding tax for employers with 50 or fewer employees who hire new, full-time Illinois employees during the 12-month period beginning July 1, 2010.
- To qualify, a job must pay at least $25,000 per year.
- A particular individual employee need not be retained for one year - the new, full-time job must be created and sustained for one year.
- New businesses hiring their first employee may qualify.
- The credit may be claimed for an hourly employee working an average of at lest 35 hours per week.
- Partners and independent contractors do not qualify.
Health Care Credit
- To qualify, an employer must cover at least 50% of the cost of health care coverage for some of its workers based on the single rate.
- Employer must have less than the equivalent of 25 full time workers (an employer with fewer than 50 half-time workers may be eligible).
- Employer must pay average annual wages below $50,000
- The credit is available to both taxable and tax-exempt firms.
- The credit is worth up to 35% of a small business' premium costs in 2010, and 50% in 2014 (35% for tax exempt employers.)
Visit the IRS web site for frequently asked questions and a video explaining the details of the Small Business Health Care Tax Credit. |
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Biz Bits |
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Resources for Freelancers |
Just because you are a freelancer, doesn't mean you have to do everything yourself. There are many web-based applications and tools that can help you get the job done. From legal forms to online meetings, check out this list of 100 web apps for freelancers.
Not sure what rates to charge for your services? Get help setting your hourly rate with this handy rate calculator. You'll need to take some time to gather some information about your business and personal costs, so print the form, do your homework, and then calculate your rate. |
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| Get Smart: Small Business Workshops at Waubonsee | Starting Your Business in Illinois
Tuesday, June 15, 6-9 p.m., $30 (Aurora)
Monday, July 19, 6-9 p.m., $30 (Sugar Grove) |
Marketing for Small Business
Wednesday, July 7, 6 - 9 p.m., $30 (Aurora)
Marketing in the 21st Century: Using New Technologies
Wednesday, July 14, 6 - 8 p.m., $30 (Aurora)
Is Franchising Right For You?
Wednesday, June 23, 6:30 - 8:30 p.m., $30 (Aurora)
Getting Started with Constant Contact
Wednesday, June 2, 9-11 a.m., $25 (Sugar Grove)
Event Marketing with Constant Contact
Wednesday, June 9, 9-11 a.m. $25 (Sugar Grove)
Check summer seminar details for class descriptions, locations, ticket numbers, prices and registration information, or call the Illinois SBDC office at (630) 906-4143.
QuickBooks and Excel
A variety of QuickBooks and Excel classes are available to meet your small business accounting needs. Click here for complete class descriptions, locations, dates, times and costs. |
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| Illinois SBDC at Waubonsee Community College
Funded in part through a cooperative agreement with the U.S. Small Business Administration and Department of Commerce and Economic Opportunity. All opinions, conclusions or recommendations expressed are those of the author(s) and do not necessarily reflect the views of the SBA or DCEO.
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