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Small Business Connections July 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 |
Shari Ralish always dreamed of owning her own business. After a career in construction management as a project engineer and project manager, her dream received some "thankful assistance due to the recession" and the birth of her son. Shari's desire to live more sustainably led her to open Peaceful Parlour, a "general store for the conscious consumer" at 212 S. Third Street in Geneva.
 Shari contacted the Illinois SBDC at Waubonsee for assistance with her business plan. She had some capital from savings, but needed additional financing. The SBDC referred her to Accion, where she qualified for a microloan that covered her starting inventory costs. Peaceful Parlour opened in February, and despite challenges to retailers presented by the economy, the business has met its sales projections each month.
About one third of Shari's customers come from her social media marketing efforts. She makes extensive use of both Facebook and Meetup.com. Much of her repeat business comes from posting new product information on Facebook, and she builds a base of loyal customers by hosting events for a variety of Meetup groups. Of all of her customers, Shari says that her social media customers are the best buyers.
Peaceful Parlour offers a variety of "future-friendly" items, including hand crafted home and kitchen gifts, natural bath and body products, and recycled cardboard furniture and toys for kids.
In addition to her line of products, Shari seeks to create a peaceful shopping environment that goes beyond the products she sells. A playroom offers a place for younger shoppers to color a cardboard rocket ship with soy wax crayon "rocks." She brews herbal tea for visitors, has an edible garden growing outside, and often holds events -- Peaceful Mornings at the Parlour -- on her patio. Her line-up of events held recently during the Geneva Swedish Days Festival included:
- Beginning Meditation
- Belly Dancing Class
- Tai Chi
- Children's Yoga
Shari will be celebrating her Grand Opening from Wednesday, July 14 through Sunday, July 18 at 4 p.m. Stop by for some "future-friendly" shopping or visit her online at www.peacefulparlour.com. |
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IL SBDC News and Events | | |
Put Illinois to Work
Funded by the State of Illinois and federal funding made available by the American Recovery and Reinvestment Act of 2009, the Put Illinois to Work initiative places unemployed/underemployed Illinois residents in subsidized employment positions for up to six months. Wages are provided by state/federal funding and the employer provides supervision and training for the duration of placement.
SBA Partners with Google
Along with a new partnership, the U.S. Small Business Administration and Google have also unveiled "Tools for Online Business Success," a combination of online resources and training that helps small business owners harness technology to grow their businesses.
According to SBA Administrator Karen Mills, "With these tools for online success, we can ensure these small businesses reach new markets and customers so they can continue to create jobs."
Nowadays people are looking more to the Internet to make decisions about where to go and what to do, so having an online presence is essential for businesses looking to reach this clientele.
Visit the website now to access valuable tools such as tutorials, video testimonials and tips from other small business owners who have found success using online technology. |
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Biz Buzz | |
20 Tips for Business Success |
Recently the Batavia Chamber of Commerce held a panel of successful Batavia small business owners speaking about what made them the success they are today. Rarely have I heard in one place such a wealth of good advice to small business owners, coupled with fascinating stories about the challenges each business faced.
If you have some time to watch the event, you can find it on Batavia Access Television. Scroll down and click on "Chamber Lecture." It's long, but well worth the time.
The presenters:
Robert Hansen - Funway Entertainment Center
If you are short on time, here is a list of 20 keys to success these owners shared:
- Start small and leverage success
- Experiment - it's okay to make mistakes
- Use your employees - they're valuable
- Take time off - the best ideas come when you are away from your business
- Find mentors, champions, and an advisory board
- Take classes - it's never too late to learn
- Have a business/strategic plan
- Stay current with tecnology
- Treat every customer as if he is your best friend
- Make the tough decisions - cut your losses when necessary
- Give away low margin business to competitors
- Continually reinvent yourself
- No single customer should make up more than 5% of your business
- Invest in your business
- Review financial data frequently
- Surround yourself with good people
- Take risks
- Be honest
- Be on time
- Have fun
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Biz Bits |
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Special Issues Index | |
The James J. Hill Reference Library's Special Issues Index has been selected as one of the Best Free Reference Web Sites of 2010 by the American Library Association.
Industry trade journals are full of valuable information, but many of them are not easy to find on on the Web. The Special Issues Index puts this information at your fingertips. If a version exists online, a link is included. If not, you can have it sent to you via their document delivery service (free for members).
You can search documents using one or two-word phrases or by browsing alphabetically. For more information, visit the web site.
Ten Percent Tax on Tanning
 The Internal Revenue Service (IRS) has issued regulations outlining the administration of a 10 percent excise tax on indoor tanning services that goes into effect on July 1. The regulations have been published in the Federal Register.
In general, providers of indoor tanning services will collect the tax at the time the purchaser pays for the tanning services. The provider then pays these amounts to the government quarterly, along with IRS Form 720, Quarterly Federal Excise Tax Return.
The tax does not apply to phototherapy services performed by a licensed medical professional on his or her premises. The regulations also provide an exception for certain physical fitness facilities that offer tanning as an incidental service to members without a separately identifiable fee.
IRS Hire Act - Free Webinar on July 8th
Under the Hiring Incentives to Restore Employment (HIRE) Act, enacted March 18, 2010, two new tax benefits are available to employers who hire certain previously unemployed workers ("qualified employees").
The first, referred to as the payroll tax exemption, provides employers with an exemption from the employer's 6.2 percent share of social security tax on wages paid to qualifying employees, effective for wages paid from March 19, 2010 through December 31, 2010.
In addition, for each qualified employee retained for at least 52 consecutive weeks, businesses will also be eligible for a general business tax credit, referred to as the new hire retention credit, of 6.2 percent of wages paid to the qualified employee over the 52 week period, up to a maximum credit of $1,000.
Small businesses can learn more about the HIRE Act at the July 8th IRS HIRE Webinar. The webinar will begin at 1 p.m. They will learn about:
- The HIRE Act payroll tax exemption and retention income tax credit for employers who hire previously unemployed workers
- Who qualifies as an eligible individual for each benefit
- What businesses may claim each benefit
- How business can claim those HIRE benefits
To register for this event, please visit the Internal Revenue Service Registration Web site. |
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| Get Smart: Small Business Workshops at Waubonsee | Starting Your Business in Illinois
Monday, July 19, 6 - 9 p.m., $30 (Sugar Grove)
Tuesday, August 17, 6 - 9 p.m., $30 (Aurora) |
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)
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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