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Last year was a tough one for the construction industry. And the predictions for the industry in 2010 aren't much better - depending on who you talk to. While residential and public works sectors are expected to improve, manufacturing, retail and office space probably will not.
More than 90 percent of businesses in the United States are family owned, but fewer than 30 percent make it to the second generation. And fewer than 12 percent make it to the third generation. The key reason cited for failure is that they had a poor - or worse yet - no business succession plan.
Nearly half of workers who could become managers don't want the job -- a situation that could lead to a shortage of qualified managers in the future.
In a well-run company, the goals of the company ultimately drive the decisions that are made and the behaviors of the team. Without an overriding company goal, each department could live in its own world, demanding that the world work in a way that is best for that department.
Nonprofits have always measured their success by being socially and financially sustainable. Now there is a third measure - ecological sustainability - which can magnify the impact of the other two. Your organization's commitment to environmentally friendly operations can only increase your group's positive benefits and influence.
Tax planning is never easy. But 2010 may be one of the more challenging years that tax planners have faced in a long time. As your medical practice tries to stay flexible enough to adjust to expected changes in the healthcare system, your financial plans must be flexible enough to adapt to changes in the tax laws.
| Wealth Advice and Financial Planning |
The consensus among financial advisors is that you should put retirement savings ahead of college savings. But with the hit most 401(k)s have taken lately, you may wonder how you'll ever be able to retire and still afford to send your children to college. Here's one idea. Community colleges offer quality course work and can be significantly less expensive than the first two years of study at a public or private university.
You decide to grow through a merger or acquisition. You negotiate, you finance, you close, you integrate and you feel good that it's over and done. Not so fast! Accounting rules are changing, the world is changing and the economy continues to have a huge impact.
| Latest Business Headlines |
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Hoyman Dobson and TRDA Offer Workshop on How to Improve Profitability through Procurement Strategies
There will be a free seminar on April 20 at the TRDA Business Innovation Center, 1050 W. NASA Boulevard in Melbourne.
Hosted by Hoyman Dobson CPA's and the Technological Research and Development Authority, the training session on How to Improve Profitability Through Procurement Strategies will take place from 3:00 p.m. to 5:00 p.m. Nancy Simmons, the president of Aero Industries of Titusville and the creator of the Procurement Center of Excellence, will conduct the workshop. The session is geared towards manufacturers who are looking for new ways to increase buying power and mitigate liabilities, reduce payment cycles, increase reliability of sales forecasts, and other strategies that would maximize their and their customers' return on investments (ROI). "I am looking forward to providing attendees new tips on how to build efficiencies, control inventory, and reduce costs and complexities of the supply chain," stated Mrs. Simmons.
Refreshments and networking opportunities will be provided. Admission is free.To register online, go to www.trda.org, contact Bonnie O'Regan at boregan@trda.org, or call (321) 872.1050, Ext. 107.
About Aero Industries: Aero Industries of Titusville, FL, is a certified Woman-Owned Small Business. The Company specializes in manufacturing and providing essential products and parts produced from aluminum, stainless steel, titanium, and high temperature metals and parts. Aero Industries services commercial, medical, military, general aviation, and aerospace industries. The Company produces highly engineered parts to meet the buyers' exact specifications. Through the Procurement Center of Excellence, which the company created based upon its 30+ years of experience, Aero Industries provides supply chain services to other manufacturers, including warehouse management services, inventory optimization, procurement analysis, risk planning, increase return on investment, and other services. For more information call Nancy Simmons at (321) 269-1100 or visit the company's website at www.aeroindustries.net.
About TRDA: The TRDA Business Innovation Center helps early-stage technology-based firms in Central Florida grow into financially viable, freestanding, high-growth companies. It offers clients access to modern office space, shared office resources, business services, professional development and training, investor networking and more for one monthly fee. Launched in 1987, the TRDA develops and implements technology-based economic development initiatives in four target areas: business incubation, clean technology,education and technology commercialization and transfer. By infusing new technology into businesses and schools, the TRDA helps to strengthen the economy of the Space Coast, Florida and the nation. For more information, visit www.trda.org.
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