NEWS
May 24, 2009
Bealefeld correct on accountability In reference to the article this week "Bealefeld urges accountability" (May 20), for the most part I agree with the Police Commissioner's comments. Mr. Bealefeld is right that those convicted of crimes against African-Americans usually receive a lighter punishment than those who commit crimes against whites. Why is that? All life is important. I have run a mentoring program for 13 years and have tried to instill good morals, principles and respect in our young men. But at the end of the day, after they have left my presence, parents, guardians and others must get involved.
NEWS
By Larry Williams | March 21, 2009
Four and a half years ago, Martin Haft took a deep breath, borrowed $150,000 from a bank in Carroll County with a Small Business Administration guarantee and opened Walk About Shoes, a specialty shoe store in Westminster. The store was the only one in the county with a wide range of shoes designed to meet medical or special size needs, and business grew briskly. Today, Mr. Haft finds himself beleaguered, in need of cash to buy inventory in the midst of a major economic decline. If he can't find the money he needs, there is a good chance that his shoe store will disappear, leaving an empty storefront and three people, including Mr. Haft, jobless.
NEWS
By Maura Reynolds | March 17, 2009
WASHINGTON -Working to jump-start the economy's engine of job creation, President Obama announced yesterday that up to $15 billion will be spent to boost lending to credit-hungry small businesses. The new effort was also meant to allay criticism that the White House has focused too much on the needs of fallen financial titans on Wall Street and not enough on the economic damage to small businesses. The financial crisis has dried up most commercial lending, including the lines of credit that are the lifeblood of small business, which historically has created about 70 percent of the economy's new jobs.
NEWS
By Stephen L. Rosenstein | November 23, 2008
If you plan to start a small business, chances are you have many questions. If you haven't already, sooner or later you may be wondering: * How do I get a business loan? * Where are the good places to advertise? * What workplace safety laws govern my business? * Should I be sole proprietor or form a corporation? * What should my pricing formula be? * Can my community support another business like mine? * How do I interpret an advertising rate card? * Should I run the business from home or rent a space?
NEWS
By Stephen L. Rosenstein | October 19, 2008
Working capital is the difference between current assets and current liabilities. Lack of close control on working capital is one cause of business failure. The small business owner must be constantly alert to changes in working capital, the reason for them, and any resulting business implications. It is helpful to think of working capital in terms of six components: 1. Cash and equivalents. The most liquid form of working capital requires constant supervision. Among considerations: whether the cash level is adequate to meet current expenses; timing of cash inflow, cash outflow and peak cash needs; amount to borrow to meet cash shortfalls; and the timing of repayment of loans.
NEWS
By Stephen L. Rosenstein | October 5, 2008
Time can be a small-business owner's best friend or worst enemy. It all depends on how you use it. There just never seem to be enough hours in the day to get things done. Time is extremely valuable to business owners - especially if you bill for time. Wasting time can be harmful to your bottom line. To operate efficiently, your business might need systems for managing time and keeping track of who's working on what and for how long. Most successful small-business owners are also successful time managers.
NEWS
By Stephen L. Rosenstein | September 28, 2008
In this age of instant communication and Web-based business services, there's more than one way to start and build a business. If your budget and time are limited, and potential partners and co-workers are widely dispersed, a good model to consider is to operate as a "virtual business." This is where most of the business structure exists online. The virtual business movement has transformed how millions of small, successful firms operate. Under this model, business owners outsource nearly everything - including people and partners who can be anywhere - to create their company.
NEWS
By Stephen L. Rosenstein | September 21, 2008
Negotiating is a specialized form of problem-solving. Two parties start with opposing positions and try to reach a middle ground. And in the context of a cost-conscious small business, wise negotiating practices can spell the difference between fiscal soundness and failure. Negotiating affects virtually every facet of a business. For many entrepreneurs, the first serious negotiation will concern a lease. As the business grows and demands more resources, negotiating skills are likely to come into play again if the business owner wants to expand by acquiring another business.
NEWS
By Stephen L. Rosenstein | September 14, 2008
Many small businesses waste money on routine expenditures simply because they don't pay attention. And while money spent on shipping, office supplies, service contracts, Internet and others might fall into the category of "small stuff" for some businesses, these routine items can be costly. It is important to establish smart buying habits to protect your profits. The steps you can take are not complicated and do not require fancy financial formulas. When it comes to cutting costs, common sense prevails.
NEWS
By Stephen L. Rosenstein | September 7, 2008
Operating a small business from home can free entrepreneurs from the costs of leasing space and commuting. But too many of them may short-change themselves when it comes to buying insurance. A recent survey commissioned by the Independent Insurance Agents and Brokers of America found that nearly 60 percent of the nation's 11 million home-based businesses do not have insurance coverage. Madelyn Flannagan, IIABA's vice president of education and research, explains that home-based business owners are at risk for financial losses associated with theft, accidental damage, natural disasters, vehicle accidents and liability if an employee suffers an injury while on the job or a business guest is hurt while visiting their business.