By Amanda Kuhnert –
Heather Hudson had been running a successful child-care business in St. Johnsbury, Vermont for five years when she saw an opportunity to expand. A competing child-care center became available for purchase, and she wanted to buy it.
But was it a good idea? Hudson needed to determine whether the purchase was a sound financial move.
For help assessing the viability of the venture, Heather’s bank referred her to business advisor Ross Hart at the Vermont Small Business Development Center (VtSBDC). Hart specializes in finance and business planning.
“Heather had a high degree of expertise in her industry and had been successful with her existing business,” Ross explained. “But she understood that there was a degree of complexity with purchasing another business that she didn’t fully understand. So she connected with me to help her review and assess the financials of the business she was interested in and develop some financial projections to complete her loan application package.” (more…)
By ComplyRight –
Minimum wage workers doing the same job are paid drastically different wages and it all depends on where they work.
States, cities, counties – and even corporations – are setting their own minimum wages for workers. This year alone, rates will go up in 20 states as well as numerous cities and counties. These are just the latest round of increases due to inaction at the federal level.
The national minimum wage of $7.25 an hour hasn’t changed in a decade – despite many lawmakers pressing for an increase. However, it just might happen. A bill to raise the federal minimum wage to $15 an hour has recently been introduced. And the House of Representatives is expected to vote on the issue in the coming weeks. (more…)
Success Story: Idaho –
Matt Kent became interested in optometry as a 19-year-old, while serving as a volunteer at eye camps for under-served populations in India.
In 2015, he and his wife Becky started working with the Twin Falls CSI Small Business Development Center on a business plan for his own practice, closer to home. Since many grants and loan forgiveness programs available for rural areas are not offered to optometrists, support from the Idaho SBDC was important to Dr. Kent’s efforts to provide local eye care and employment in his small community. (more…)
The nation’s largest, proven, cost effective small business assistance program invites you to the celebration!
For almost 40 years the America’s Small Business Development Center (SBDC) Network has helped aspiring and emerging small business owners achieve the American dream of entrepreneurship. Today, March 20, SBDCs from around the country are coming together for one special day to celebrate their work, their impact, and most importantly, their clients — America’s small businesses.
With nearly 1,000 locations across the country, SBDCs provide local businesses and entrepreneurs with the resources to succeed. In 2017, America’s SBDC clients experienced annual sales growth of 18.1%, almost 4.5 times greater than the national average. SBDC assistance resulted in 93,471 jobs created; $7 billion in sales growth; $5.9 billion in capital investments; and 14,716 new businesses started. (more…)
Success Story: Wisconsin –
Katrina and Jason Julian want to feed your family affordable, delicious, healthy dairy and beef products. Three generations, from Jason’s mom to the Julians’ three sons, work in the family business.
The Julians raise certified organic, grass-fed and grass-finished Fleckvieh cattle, a breed remarkable for its suitability for both meat and milk production. The Julians’ horses are just as remarkable: their team of American Brabants (a relative of the Belgian draft horse) takes the place of tractors for much of the farmwork.
Katrina and Jason, who both grew up on farms and met in the agricultural program at UW-River Falls, began farming conventionally when they bought a dairy farm in 1996. But a desire for a lifestyle more in line with their family values led to a switch in 2007. (more…)
From TSheets, by Quickbooks –
Survey asks employers and employees to weigh in on remote workers’ performance and productivity.
When it comes to answering the question “Are remote workers actually working?” it’s easy to hear some skepticism behind the text. “Working from home” often comes with its own set of air quotes, like it’s code for “hanging out” or “watching Netflix.” But is that skepticism deserved? Or are remote workers getting a bad rap?
To get a clearer picture of remote workers and their habits, TSheets conducted two surveys: One for remote employees and one for employers who have remote workers on their team.* In addition to asking how remote employees spend their time on the clock, we asked about productivity, performance, and perceptions. (more…)
By Shawn Hyde, International Society of Business Appraisers (ISBA) –
Every so often I come across a valuation report where the value of a shareholder’s interest in the company has been based on the Book Value of the business. Book Value is likely used because it is easy. It is updated every time the financial statements are updated, so it is always current. But in this article, I want to explore Book Value in more detail.
Book Value is tracked on a balance sheet by an enterprise’s accountants. The current asset section is fairly easy. Cash is equal to the amount of cash owned by the business, and the Book Value of cash is always equal to its Fair Market Value.
Accounts receivable are listed at the amount of cash the company is owed for services or products rendered, usually less an estimated amount for uncollectible accounts. Most of the time this asset’s Book Value is at least close to Fair Market Value. (more…)
America’s Small Business Development Centers (SBDCs), SBDC leaders, advisors, clients, partners, and stakeholders gathered on Capitol Hill for the fifth annual Client Showcase and Reception on Tuesday, February 12. Representative Steve Chabot of Ohio, Ranking Member of the Committee on Small Business, addressed the reception guests. Several of his colleagues also visited the reception, in which America’s SBDC Network showcased 11 SBDC clients from across the country.
Countdown to the 2019 Client Showcase: #1.
SBDC: West Virginia SBDC – Upshur County EDA Center (wvsbdc.com)
SBDC Advisor: Susannah Higgins.
JesterLine is West Virginia’s first high-end gaming technology and innovation center. It specializes in bringing the newest gaming technologies for all ages to the surrounding community, staying up-to-date with technology trends and advancements.
JesterLine offers customers a safe, family-friendly environment where they can experience the best that modern gaming has to offer, including competition with other gamers, both locally and globally through its network platform. It also gives its customers the opportunity to build necessary skills through computer-based training. It provides options for K-12 technology solutions and SMB services, with IT consultations, hardware and software solutions, and repairs. (more…)
Countdown to the 2019 Client Showcase: #2.
SBDC: Washington SBDC, Spokane (wsbdc.org)
SBDC Advisor: Vern Jenkins and Duane Fladland.
FLEXHIBIT is an exhibit manufacturing company that provides innovative, engaging, and high-quality STEM exhibits to Science Centers and Children’s Museums. With help from the Washington SBDC, FLEXHIBIT has successfully expanded its market internationally.
The company’s exhibits work with a portable, modular wall system called FlexWall, which allows customers to switch out inspiring STEM exhibits in a highly affordable manner, with quick turnaround times. Mounting on modular wall systems means you can rotate FLEXHIBIT exhibits – they can be swapped out in hours for new exhibits that can be arranged in a variety of patterns, which helps the science center or children’s museum stay relevant to its visitors. (more…)