America’s SBDC Blog

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5 Books Every Business Owner Should Read

October 19, 2021
By Sharita Humphrey –

As a business owner, you have to be a lot of things. You need to be innovative, confident, goal-oriented, passionate, and persistent – to name a few. What you should NEVER be? Stagnant.

Society is ever-evolving and the business world is constantly changing too. As a business owner, you have to be able to keep up with changing times. Remaining stagnant in this constantly evolving world can be detrimental to your success.

So, how do you ensure that you’re able to keep up with all these changes? Well, one way to do so is by educating yourself. Read the latest business news. Keep up with market trends. Do your research. And last, but certainly not least, read books. (more…)

7 Smart Strategies to Make Your Business Taxes Easier

August 17, 2021
By Sharita Humphrey –

Next year’s tax season is probably the last thing on most people’s minds right now. Since tax season ended not long ago, most people think next year’s taxes can wait.

However, there’s no such thing as “too soon” or “too early” when thinking about your future business taxes. Remember: They won’t get any easier moving forward.

So, if you’re wondering what you can do to make your business taxes easier in future years, you’re in the right place! (more…)

America’s SBDCs Publish Annual Report after a Challenging Year

February 8, 2021

Annual ReportServing more than half a million small businesses and aspiring entrepreneurs in Fiscal Year 2020, America’s Small Business Development Centers (SBDCs) rose to the occasion during a time of unprecedented challenges.

From the beginning of the coronavirus pandemic, America’s SBDCs were on the job. Providing free, one-to-one business consulting and free or at-cost business training, SBDC consultants, trainers and staff helped America’s small businesses — and the communities they serve — adapt and survive.

As one SBDC client described it, “I was trying to keep it together but panicking! Then a friend recommended I talk with the Alabama SBDC. I talked to my advisor an hour and a half the first time I called her. She was also a small business owner and knew what a state of mind I was in. She has ended up advising me on every step and has even kept me ahead of the game, giving me information as she learns it.” — small business owner and chef Yanni Tempelis, who worked with her local SBDC to secure PPP funds and help save her business. The America’s SBDC Annual Report showcases the work of the 62 state and regional SBDCs that form America’s nationwide network of SBDCs. Click To Tweet

From helping small businesses address the Covid-19 crisis to serving America’s veterans, women-owned businesses, underserved communities and young entrepreneurs, to promoting technology development, exports and rural development, America’s SBDCs show why they are America’s largest and most trusted network of small business assistance providers. (more…)

Doing Business As (DBA): What is a DBA, How to File as a DBA

December 15, 2020
By Ty Kiisel –

If you’ve ever asked, “What is a DBA?” this article is for you. The short answer is, a “Doing Business As” is when the name under which a business operates is different from its legal, registered name. A DBA may also be called a trade Name.

Why Would a Business Choose a DBA?

There are reasons why a business would choose a fictitious name (another term for a DBA). A sole proprietor or partner might choose a DBA so they can operate with a typical business name without the need to create a formal legal entity (like an LLC or a corporation). For example, John Smith, a plumber, might choose to operate under the name of Eveready Plumbing. He’d need a DBA to do that. If John wanted to run his business under the name of John Smith’s Plumbing, he wouldn’t need one.

If your business was a corporation or a limited liability company (LLC) and wanted to operate the business under a name that is different from the name of the corporation or LLC, you would need a DBA. For example if John Smith & Joe Bonanza LLC wanted to operate as Mount Olympus Real Estate Investment Company, they would need one.

(more…)

Business for Sale Market During COVID-19: A Paradox of Unique Opportunity and Uncertainty

October 27, 2020
By: BizBuySell –
BizBuy Sell Confidence Index
(BizBuySell Confidence Index — click image for larger view)

New data from BizBuySell’s small business confidence survey and recent business for sale transactions reflects a market driven by opportunity seekers and business owners, either well-positioned to profit or forced to exit.

BizBuySell’s 3rd quarter 2020 Insight Report, a nationally recognized economic indicator which aggregates statistics from business-for-sale transactions, shows a steady upward trend in sales since the pandemic hit. In April, transactions showed a 51% year-over-year decline, shrinking the deficit to 21% in July, and then just 5% fewer deals in September.

The catalyst behind the resurgence appears demand driven. According to BizBuySell’s 2020 Small Business Confidence Study, buyer confidence reached a record high of 60 compared to 53 a year ago. (more…)