Fifty-two percent of small businesses in the U.S. are home-based. However, the home office deduction is rarely used by these entrepreneurs. I’ve personally recommended business owners shy away from it because the experts say it’s a red flag for an audit and who wants to be audited? Here’s the issue.
It’s cold and flu season — one of the worst on record. The Center for Disease Control (CDC) anticipates the flu will cost businesses more than $10 billion in direct costs this year, and when you consider the costs of lost productivity, that number number soars even higher. If you want to protect your small business from the affects of the cold and flu, encourage your employees to stay home when they’re sick.
Every year, thousands of entrepreneurs either start a business with a family member or bring a family member into their business. That’s particularly true in today’s economy, and most entrepreneurs are ill-equipped to deal with the delicate dynamics that arise when the lines between their personal and business life collide.
Small businesses usually start-off as a one-man show. When you’re the founder you do everything from emptying the trash to collecting the cash. As your business grows, however, it can reach a point where the volume of work is overwhelming.
January is National Mentoring Month. Created in 2002 by the Harvard School of Public Health and MENTOR: The National Mentoring Partnership, National Mentoring Month focuses attention on the need for mentors. Mentors play important roles in our lives at various stages. I’ve been fortunate to have had many great mentors during my life — as a student, corporate employee, attorney, author and business owner.