Small Business Digest | Ideas, Tips, Advice for Small Business

Wednesday | 3.10.2010

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Small Business Success Strategies Update

Intuit Launches New Employment Index; Loyalty Programs For Small Businesses Doubted; New Obstacles Looming For Government Contracting; Local Internet Advertising Growing; March Is Employee Spirit Month;

Survey indicates business activity picking up for smaller enterprises. The biggest news is that Intuit reports 40,000 new jobs were created in February. A three-year trend continues to hamper small businesses seeking bank loans. The much vaunted ARC program reports 5,000 micro-loans but program ends soon.

The Obama administration is examining new regulations for companies seeking government contracts, Providers must adhere to increased salary and benefits minimums to qualify for government contracts. Smaller enterprises may not be exempted from rules. These regulations could severely impact smaller providers.

Dorothy Hamilton

New start-up activity showed strength for the first time in five quarters as entrepreneurs are once again opening up new venues. An expert offers five rules for new start-ups.

A new study indicates loyalty programs for small businesses require careful thought and effort. A road map for smaller firms is outlined.

March is Employee Spirit Month, a time to inspire the most vital asset of any organization: its employees. And as the economy continues on this rollercoaster, now more then ever is the time to create positive energy and boost workplace morale.

According to one report more than 50 percent of businesses indicate that employee morale is down, or viewed negatively at their organization. In addition, 32 percent believe maintaining employee engagement and productivity is the most important priority at their company. With the economy strengthening, smaller businesses face staff defections as companies once again hire.

Most firms draw 80% of their customers from 70-mile radius but small business marketers are learning to use the Internet to gain additional local sales.

		Marketers Doubt Effectiveness of Customer-Loyalty Programs, Fail to Leverage Potential To be effective, customers and marketers agree rewards efforts must be personalized and clearly explained.

		Local Small Business Internet Advertising Growing, Some Caveats Remain Free, paid listings offer a way to cost-effectively expand local sales footprint

		Intuit Launches New Employee Index Indicating Small Businesses Are Hiring More than 40,000 new jobs were created in February 2010.

		Small Firms Report Difficulty in Obtaining Financing for the Third Year Three-year trend shows firms are still having difficulty finding financing.

		Are Meetings Dragging on Too Long? Maybe This Will Help. Electronic device calculates and displays cost of employee sessions in real time

		Five Things to Consider When Opening a Business Expert offers advice good for any new venture.

Question:

Is economic expansion really happening?

Answer:

“The (positive) developments in manufacturing were matched to a lesser extent by similar movement in the service sector, and other economic indicators added to the notion that something was stirring in the economy"....Chris Kuehl, Ph.D., economist for the National Association of Credit Management.