Small Business Financing Options; Profit Growth Strategies; Smart Goal Setting;
Welcome to the New Year.
Small business leaders are usually optimistic. 2012 was a year in which this this positive outlook continued to be sorely tested. With the new year, many in the country are turning a new page. Hopefully, this will help many small businesses who are being hobbled by a poor economy.
Whatever readers' plans and expectations for the new year, this newsletter's editors will continue to be in the forefront providing ways to earning more profits through improved operations and additional sales...
- One expert argues thinking small this year is not the way to be successful. (Details)
- Surveys show many owners are thinking of selling their businesses. (Details)
- Many more small business leaders report they are curtailing investments and not seeking new financing. (Details)
- Here are some easy-to-do strategies for saving money, adding profits. (Details)
Small Business Digest Trends...
Are small businesses expanding through additional borrowings?
Three major studies in December show a majority of small businesses report flat or reduced spending or borrowing and expectations for 2013 are little better.
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Ask the Experts...
Should small businesses be worried about an IRS audit of their use of independent contractors?
The IRS and U.S. Department of Labor is targeting employers with more audits and closer scrutiny in a massive new "Misclassification Initiative." The IRS estimates that 80% of workers classified as "independent contractors" are actually employees. As part of the crackdown, the DOL hired 100 new auditors solely to investigate misclassifications. State investigators are also turning up the heat on employers. And all this attention is prompting more independent contractors - and their attorneys - to challenge their classifications in court.
- Richard Brann, former chair of the labor and employment law practice at Baker Botts LLP
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