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Friday Memos

- 25 tax tips for entrepreneurs that you may not know about. [BusinessWeek]

- New Zogby poll finds 63% of Americans think entrepreneurs will lead the U.S. to a better future. That’s much more than they trust the news media, government or large corporations. [WeMedia.com]
- 75 “Outrageously Creative” tips for saving money and growing your business. [...]

Retirement Saving Plans for Workers at Risk

Small businesses are having a harder time meeting their obligations in offering retirement benefits for their employees, with two stark choices facing them: shut their doors or end their contributions, according to testimony at yesterday’s hearing before the House Committee on Small Business.

“Even before the economic downturn there was concern that small employers could [...]

How Obama’s Plans Could Affect Entrepreneurs

President Obama mentioned “entrepreneurs” and “small-business owners” – “the hardest working people on earth”- several times last night in his first address to Congress. The U.S. economy, he says, relies on innovation and small businesses continuing to hire workers to stay strong.
Though the President didn’t offer new proposals geared directly at entrepreneurs, he spoke [...]

Are Family-Owned Businesses More Vulnerable?

Family-owned businesses in the U.S. number about 25 million, many of them mom-and-pop operations, and while there’s no federal or trade group tracking the closures of family businesses, experts say they are vulnerable in this current economy, according to a USA Today article this week.
‘What you’re seeing is more of the small ones biting [...]

What Does It Take to Be An Entrepreneur?

For the cover story in today’s Journal Report on Small Business, I spoke with entrepreneurship experts, academics and psychologists to figure out what characteristics and lifestyle factors improve someone’s chances of being successful and happy as an entrepreneur. From these interviews, I came up with a list of 10 questions someone should ask before embarking [...]

Friday Memos

- Remember when we asked you awhile back which innovations of the past 30 years made the biggest impact? The winners are out. Top 3: Internet/broadband, personal computers and mobile phones. Other interesting picks include microfinance, GPS systems, DNA testing and MRI machines. Read the full list here. [Knowledge@Wharton]
- Small Business Administration-backed lending plummeted 57% [...]

Will Economic Hard Times Result in More Entrepreneurs?

What’s happening with self-employment in the bad economy? Will all those laid-off workers become entrepreneurs?
Case Western Reserve University entrepreneurship professor Scott Shane examined data from the Bureau of Labor Statistics to figure out how the economic hardship is affecting entrepreneurial activity. There’s a false assumption, Prof. Shane wrote on USNews.com recently, that entrepreneurship has steadily [...]

Is the Golden State Losing Its Luster for New Businesses?

For years, California has been the center of the technology-driven start-up community. Is that phenomenon going to end?
It wasn’t long ago that anyone with a fresh tech-related idea would pick up and move to the West Coast in search of like-minded entrepreneurs – and funding. Just a few months ago, I wrote this blog post [...]

Preventing Employee Fraud at Small Businesses

If the bad economy isn’t enough, there’s another financial danger to watch out for these days: Employees who steal.
My colleague Simona Covel writes today that employee fraud is rising at small businesses now that so many workers are feeling financial pressures in their personal lives. It could be an employee skimming $20 bills from [...]

Businesses Face Threat of Lawsuits From Laid-Off Employees

The rise in layoffs and downsizings may lead to a jump in employment-discrimination lawsuits against companies, according to a recent article in Human Resource Executive.
Last year, employment-discrimination charges rose 15%, the story says. And more may be on the way.
Big businesses often have teams of lawyers to advise them on how to lay off legally [...]

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