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Retirement Planning for Small Business 3 options

Wondering if your business is too small for a group retirement plan?

One of the keys to attracting and retaining top employees is to offer a high-quality retirement plan. A group savings plan conveniently helps employees save money for the future while reducing and deferring taxes today. Plus, the investment you make in a group retirement plan is an investment you make in your organization, your employees and your reputation. Everyone’s a winner.

Three options stand-out depending on what you want to accomplish with your plan and how much flexibility you need. These are: 401(k) plans, SEP IRAs and SIMPLE IRAs.

The 401(k) Offers the Most Flexibility and High Contribution Limits The traditional 401(k) is probably the most widely known retirement product on the market. It’s the fully loaded, high performance SUV of retirement plans. It’s generally defined as one that enables a business owner and employees to make consistent, tax-deferred contributions during the length of their careers.

SEP IRAs are Pretty Easy to Start and 100% Funded by the Employer Simplified Employee Pensions, more commonly referred to as SEPs, are also a popular retirement plan choice as they offer a contribution limit that’s similar to a 401(k). It doesn’t have all the bells and whistles of a 401(k) plan, but it’s got a good engine under the hood. One of the most important things to understand about SEPs is that 100 percent of the contributions made are by the employer (no employee contributions allowed) and these dollars are immediately vested for the employee.

The SIMPLE IRA is a Solid, Affordable Third Option

The SIMPLE IRA’s name is a bit misleading (it actually stands for Savings Incentive Match Plan for Employees). While both employer and employee can contribute to the plan, the employer must match and matching is vested immediately.

If you do decide that you want to offer a retirement plan, you are definitely going to need some professional advice and guidance. Pension rules are complex, and the tax aspects of retirement plans can also be confusing.

As a financial planning and wealth management professional firm, Mintco Financial has been helping its clients effectively plan for comfortable retirements.

Michael Minter, as a managing partner of Mintco Financial, is a trusted investment management professional who carries more than 16 years of experience in this challenging career field.

Throughout his professional history, Michael Minter has gained strong insight into what skills and knowledge is necessary to perform investment management, wealth building services, small business development and retirement plans.

Michael MInter is also author of the book I-Plan, a guide for your financial security.

Call Michael Minter at 813-964-7100 at Mintco Financial.

Retirement Planning for Small Business

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Small Business Blog Tips That Can Make A Big Difference.

Blogs have revolutionized the way that people do business. It seems that all the big companies are making use of blogs to promote themselves and market their products. However, corporate blogs aren’t just for big companies. Blogs can also be utilized by small businesses with great effect.

Setting up a small business blog is easy and has many benefits. They are powerful promotional tools and a great way to communicate with clients.

Here are some tips on using a small business blog:

1. Write Naturally and Honestly

Small business blogs can be more personal than large corporate blogs. It’s best to write in way that feels natural to you. Avoid writing needlessly complex posts filled with technical jargon. Doing so will endear customers and promote conversation, which is what a blog is for, after all.

As with any blog, you must always tell the truth. Blogs should address all issues, be it good or bad. This will ultimately beneficial as it helps builds trust the customers.

2. Post often and Respond to Comments

Remember to post frequently. Provide readers with plenty of content, so that they will keep coming back to your blog.

Comments are a vital part of blogs, providing useful feedback. Respond to reader comments often to build strong ties between them and your company.

3. Promote your business, Promote yourself

A small business blog is an innovative way to promote a business.

A good technique is to document your projects. This is good way to show how capable you are at your profession and to garner trust. This is especially important with small business, where reputations can make a big difference.

Blogs allow for unparalleled interaction with customers. Use this to get closer to clients, and to build bonds of trust. The information gained from readers is invaluable for improving your small business.

4. Be Informed and Informative

Read plenty of other blogs to gain useful information. Post comments and promote your own blog. Be an active part of the blogosphere.

Post links of related information on your blog, and use technology like RSS/Atom feeds to constantly provide your blog with interesting content. This is a great way to promote your business and be informed of everything concerning you industry. Besides informing your readers, it can lead to interaction and possible collaborations with other businesses, all of which will benefit a small business.

5. Search Engines

For those who wish to achieve higher search engine rankings, a blog can be an invaluable asset. The constant updating combined with the right keywords can raise search engine results dramatically.

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Small Business Bank – How Specialized Banking Works for You

If you’re opening a small business, you need a small business bank, pure and simple. Using your regular bank won’t net you the benefits that a specialized banking account can come with. No matter who you choose as a host for your banking needs, you always need to open a new account for a business. Never use your personal bank account as this can make it next to impossible to discern your business income and expenses from more personal sources. Always choose a new account, and look for a specialized bank whenever possible. The right bank will have a deep understanding of your business needs.

One of the most important features of a small business bank is an assortment of affordable banking solutions. Money is usually tight when you’re starting out. You don’t want to have a high minimum amount on your account that you can’t possibly sustain. If you need to make a large withdrawal for business purposes, you should know that you can do so without jeopardizing your bank account. It’s also important that you’re able to make deposits and withdrawals without a lot of fees. The right business bank will work with you so that you can maximize your profits early on.

Small businesses today are far different than what they were in the past. A mom and pop shop used to be a brick and mortar store with an easily-defined address and actual location. Today, many businesses are run online. You could be running your business from locations all over the country, or all over the globe. You can’t always work with the bank down the street. You need a small business bank that will go with you everywhere you happen to be. Online banking, mobile banking, and more are essential for a business banking account. You don’t want to be tied down to one location, and with the right account you won’t be.

When you’re getting ready to open a new banking account for your business, it’s important to take the time to do your research. Look into a variety of banking opportunities to find the small business bank that’s right for you. When you look at other offers, you’re sure to notice where the best deal really lies. It’s important to understand what’s out there so you don’t get sucked into the first well-worded advertisement you see. Compare your options and look for a small business banking account that provides all the services, benefits, and convenience you need to make your company a success.

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Small Business Computer Consulting Additional Qualifications For The Sweet Spot

To find the ideal clientele for your small business computer consulting, you want to target small businesses by their number of PC’s, (10 to 50) as well as their revenue. Generally, companies that have anywhere from 1 million to 10 million in revenue are the sweet spot of small business computer consulting. In this article, you’ll learn why you should target this type of business. {Tip: Of course if you’re located in Canada, the UK, Australia, New Zealand, or any of the other more than 21 nations around the globe where our training has been adapted, be sure to convert this to your local currency. (See )}

Beware of the high end of this range
Once small businesses get to the high end of that revenue range, where they start having substantially more than 50 PCs, or substantially more than $10 million in annual sales, often the small business owners lean towards putting a real, salaried IT person on payroll instead of using a small business computer consulting professional. That’s when you start running into some tough competition. At this point, your client will add up your services invoices and try to figure out if they can do it cheaper or more efficiently in-house.

Look for clients that need a real server
Another important aspect is to find small business clients that are big enough to need a real dedicated server. Once small businesses need a real server, they need a ton of other professional services to go along with it. And it’s very unlikely they can handle it on their own, with just an internal guru. Bingo-you become their outsourced IT department!

Multiple locations are a bonus
Sometimes a sweet spot client has one location. A lot of times there’s a main office and some branch offices. The branch offices present a big opportunity for your small business computer consulting because there’s usually a HUGE need for sharing data in real time among employees in different locations.

The Bottom Line about Small Business Computer Consulting
In this article, you’ve been learned more about how to find the sweet spot in your small business computer consulting business.

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Easily Build a Small Business Website with WordPress

WordPress is one of the most essential and highly flexible content management system. It serves as one of the founder for a blog or for fully fledged small business website especially for the online marketing or ecommerce. Now it has become easy to add new pages and post to your blog with WordPress built site. It does not require any HTML, CSS or any other mind numbing acronyms.

It’s quite easy to customize the look of your website in order to make it unique. Hundreds of Plugins can be added in order to add new capabilities thereafter your site will become search-friendly. By adding All in One SEO Pack you can easily optimize each and every page/post in order to boost website in search engine ranking. So in order to build a site like this for small business website you will have to download WordPress from WordPress.org. Here the software is free this is due to its open source feature. Adding to its better features you can also avail themes and plugins in free. Here the only thing you would have to do is to pay for the web hosting that would be as low as $6 per month. Or on the other hand you can also host WordPress site on your own server.

Thereafter you will need web hosting service that supports PHP version 5.2.4 or greater along with MySQL version 5.0 or greater. In this situation Apache or Nginx is most recommended. It is most robust and full of features for running the WordPress inorder to create free wordpress site. After this work will be done without any problem. In the directory Web hosts is listed here you would have to select Bluehost, in this the service is featured in a very prominent manner, it provides unlimited disk storage, monthly data transfer and email address.

Bluehost hosting account has become quite easy with Bluehost installing WordPress. One would only have to install it by using Bluehost’s Web-based control panel and then follow the steps 2 through 6 to create wordpress site free.

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How To Sustain Small Business Growth

Many small businesses often ignore the minor glitches which cause major problems in their small businesses. There are people or situations which we often get used to and ignore, without realizing that they may be the main cause of a crisis situation. You could be strangling your small business growth without even realizing it.

Organizational growth demands updated strategies every quarter. It does not matter whether you are self-employed, running a home-based business or an employer. Leaders have to implement organizational updates every now and then in order to enhance growth strategies and speed up the entire growth process. Some hire help, while others acquire business cash advance in order to progress and expand.

We have created a list of how you can upgrade your growth strategies and take your small business to the next level. Firstly, you should

Remove the outlived
There might be services being offered and products being produced which may not be of any value to your business. You need to make a list of such services which no longer add value to your small business growth and have outlived the market demand.

Re-organize and strategize companys strategic goals
Reevaluate whether your mission statement matches your goals or not. You will know how much work being done is irrelevant to your small business needs and market demand. Redefine your objectives in pragmatic measureable terms.

Distractions and competitions among your employees is another point which should be considered. Other issues may have distracted them from your small business goals. There may be continuous concerns hampering growth among the employees and creating problems in their professional relationship and everyday work.

Create different ways to leverage employee talents
Work efficiency can only be improved by leveraging employee talent in different areas. Set meetings with them; ask them what they want to do and how they can add value to your companys goals. Help them review their skills in order to sharpen them. There might be unproductive or negative employees, but firing them may not be the solution. Hence, move them to positions and projects where their skills can be utilized effectively.

Check the Budget Lists
In many cases you subscribe, acquire business loans, purchase and hire help which may not be required by the company anymore. And all these might be charging you a lot of cash without you even realizing it. To save your working capital, these budgetary leaks should be evaluated and diminished. Conducting a quarterly review is extremely useful, knowing where your money is going will help you fight the unnecessary charges involved and will help you improve your credit score. Check your taxes and be ready for the upcoming TAX season.

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Top 4 Credit Card Benefits For A Small Business

A business credit card offers many benefits to a small business. A business credit card helps to keep business and personal expenses separate. Having a credit card solely for business use can make a lot of difference in the business finances. Many small business owners do not understand how beneficial a business credit card can be.

Establish Credit And Creditworthiness

Just as you personally want to establish credit, your business needs to establish credit. It is common for small business owners to use their personal credit for their business credit, but this can get rather tricky. When it comes to taxes and financial liability it is much better for the business owner to keep personal and business credit separate.

Easier Accounting Saves Hassles

A business credit card will help simplify accounting. There will be no need to sort through papers to figure out business form personal expenses. Using a credit card, the purchases for the business are all in the statement. These figures can be easily transferred to the books. This helps to make accounting much easier by keeping expenses streamlined.

Simplified Spending

A small business owner may find himself having to okay purchases or write out checks for purchases made by employees. With a business credit card, the owner can get additional cards for those who have spending power. This will help cut down on time wasted getting purchases approved and also save money because far less checks will have to be written. It will make the business more efficient.

Reward Possibilities

There are many credit cards that offer rewards for purchases. With a rewards card a business owner can get an additional incentive by earning things like free airline miles, gasoline and even cash back on purchases. This is something that can be very helpful to a small business. Rewards are earned through purchases, so a business is earning something for money they would have spent anyway. It is like getting double for your money.

Business credit cards are a great idea, especially for small businesses. Many small business owners do not understand just how beneficial they can be, but as you can see they offer many perks. A small business owner would be very smart to get a credit card that will make it much easier on them in the long run. They will find they save money, save time and make the business more efficient and run smoother.

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Why Small Business Needs Accounting

According to the NY Times, one of the ten reasons small businesses fail is due to improper or lack of accounting. Corporations spend a significant amount of money and hire accountants to report on the status of the company and maintain day to day operations. Yet, many small businesses end up failing to maintain proper accounting.

Accounting Helps with Operating Your Business
Proper Accounting helps pay employees and vendors; helps with customer invoicing, helps post payments; tracks your business assets and liabilities, and most importantly, it calculates any profits and losses. Small businesses cannot operate if they can not pay their employees or ignore vendors bills and continue receiving materials for their products. Often, those functions are ignored by small businesses due to lack of time thus resulting to work stoppages.

Accounting Provides Feedback
At the end of every period, may it be monthly or yearly, as small business owners, you have some idea of how you performed and accounting provides you the validation you need. It will tell you if you made a profit or loss. If you happen to have a loss, it will determine where your biggest expenses are coming from and if you did make a profit and still left with a small cash balance, it will probably tell you which customers havent paid and which customers are now delinquent. Small businesses fail when what they think is not true and this is the most important reason why small businesses need accounting.

Accounting Helps Comply With Legal and Contractual Obligations
The IRS, other government agencies, and banking covenants require businesses to provide a detailed accounting of their revenue and expenses. Depending on the size and entity type, it also requires you to have a balance sheet or listing of assets, liabilities, and equity. Accounting provides you with that information easily. It provides business owners the right amount of withholding, deductions, and back-up just incase they get audited.

Accounting Provides Non-Financial Insights
Many small businesses fail to realize that accounting is not just financial information. It has information on timing, customer information, employee information, and other information that may not necessarily be part of your financials. For example. a key non-financial trend that small business could pay attention to is their customer demographics, you can identify what your customers age, location, and how they order products and services and you can zone in on advertising to that demographics thus increasing revenue and could lead to increased profit. Another, key non-financial trend small business can pay attention to is monthly sales figures, when a small business realize that a continuous trend of slow monthly per year. A small business could either ramp-up advertising 30 days before as anticipation of the slow month or they could plan a family vacation.

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Small Business Start Up Planning and Success The 7 Vital Keys

With over 20 years experience and exposure to small business, we have learned an enormous amount on what to do and what to avoid. You don’t need to go through all the problems we experienced trying to start-up a small business. We’re happy to share our secrets with those who’d like to listen. Yes, we’ve made mistakes. Some only small, others took us to the brink of bankruptcy! But the great thing is we learned from them and took away important lessons each time.

We took these lessons, and combined with our formal Business Management and Development Training, have developed our 7 Vital Keys To Small Business Success. These are the very same Quick and Easy Systems we used to grow our Successful International Franchise Network.

Yes! We went from our garage to franchise in under 12 months, and International Franchise in just over 2 years. We later sold our interests, and profited further from our systems. Our processes are easy to understand , with clear methods to follow. By following our 7 Vital Keys To Small Business Success program, you could quickly establish your own small business, helping you enjoy the lifestyle you desire and the freedom to be your own boss. We know it works. We have seen these processes repeated over and over. Small Business should be about working smart, not working yourself into the ground.

Starting a Small Business can be risky. About 80% of small businesses fail in the first 2 years. So why do people keep doing it, you ask? Why put your money, family and reputation on the line, just to follow your dreams? Because it’s such a wonderful feeling to start-up and run your very own successful small business. You don’t need to go it alone, though. There is help. Overcome the statistics and be one of the successful few. Start your small business with the right help and know how. You will achieve amazing results in the best possible time, with less headaches, and saving you hard earned dollars along the way.

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Save Money with Small Business Management Software

Small businesses owners often find that there are certain times of the year when cash flow is not as healthy as it could be. This could be due to the fact that the business has seasonal customers, money being spent wastefully or through outmoded business practices. Regardless of the reason as to why money is being lost one thing is for certain good business owners and managers are all looking for a way to save the business money.

One way to save money in a small business is to implement small business management software. Software such as this enables a business with less than 50 employees to be operated via one software application. By being able to switch to one application a small business owner can save thousands every year as all other applications that require a monthly or annual fee to be discontinued.

As soon as they see just what small business management software can do many business owners and managers are keen to start using it. Not only can small business management software save a business money in terms of slashing the number of applications a business has to pay for it also saves money in other ways such as:

Increasing the number of leads that are converted into sales with ease. When using small business management software an employee can create a quote and save this to a customers file. This will contain their contact details and other relevant information. If this quote is not accepted within a certain period of time, this lead can then be chased up by the sales department.

By ensuring that projects are always completed on time a business will not lose customers. With small business management software projects can be assigned and tracked in real time. Managers and owners can quickly and easily check on projects that are nearing their due date in order to ensure that they are progressing as they should be. By utilizing this feature projects should never be behind schedule ever again, which means that money will be saved in the long run through customer retention.

Small business management software also allows employee calendars to be seen by owners and managers at a glance. This means that projects and so on can be planned with regard to staffing numbers. Money is therefore saved by ensuring that all employees are working to capacity and not being diverted to projects which are already fully subscribed.

As small business management software is web based it means that it can be accessed from anywhere in the world that has an internet connection. So if a manager or owner is away from the office on business they can access the application and get any information that they need. This saves business money as laptops and mobile internet is not required when an owner or manager visits potential customers.

These are just a few of the ways in which small business management software can save a business money each month.