CEO, Owners

Small and medium-sized businesses (SMBs) are constantly looking to new technology to create a workforce that is more productive, more efficient and more innovative. In recent years, new technologies like cloud computing and open source software have made even the most historically complex and costly systems once reserved for large enterprises more affordable for SMBs. Identifying technology solutions that enable true productivity, all while staying under budget, is a goal of all SMBs.

As he likes to say, Jason Lutz is the creator, founder, designer, and sole manager of the Vermont Cedar Chair Company.

He, built his company on an idea and a self-described passion for natural materials spawned by a charity mission to Jamaica.

In 2007, the summer after his fourth year of college at Ohio State University, Lutz had the opportunity to travel to Jamaica for charity work.

One in every four small business owner’s current primary concern is the impact of the upcoming presidential election, according to Capital One’s Spark Business Barometer.

Keri Gohman, Senior Vice President, Small Business Bank, Capital One said the Barometer also revealed that small business optimism dropped in Q1, and 41% of business owners believe conditions are good/excellent; compared to 50% during the same time in 2015.

It’s safe to say the majority of small business owners crave growth and expansion.

It’s typically associated with success, especially in the business world.

But growth can also create a number of challenges.

Oftentimes, businesses that experience success and development in the first few years are affected by stages of rapid change, which can alter the stability of the company. 

For much of the past 50 years small business, formation has been a bell weather of how the economy would behave over the next 12 months.

Today, some economists are striking a warning note.

Despite low financing rates and better tools for managing an enterprise, small business formation has slowed during the past six years.

In fact, there are 70,000 less small companies today than in 2010 according to John Schlagenhauf, a former congressional economic advisor.

Starting a business is one of the most thrilling endeavors but it can also be challenging as it is often hard to know what to do or how to start.

According to Leslie Barber, Small Business Engagement Officer, Intuit there are more resources than ever to help entrepreneurs get their start and making the process an easy one. Below are six tips to help any small business get up and running.

2016 is upon us even as the prior year is not finished.

While the presidential race and terrorists are important issues, SMBs face a number of critical factors in the New Year.

Among them are:

Ø      First and foremost is the belief by many SMB leaders that the economy is not strong.

Ø      Interest rates which may go above the negative rates of recent years.

Ø      Energy costs, which have shown a marked decline in recent months.

Ø      Inflation, which has not been a factor in recent years.

Successful businesses are built on strategic leadership, smart decisions and entrepreneurial drive, but even the best business owners can fall prey to a few bad business habits.

Small business owners are not exempt from this.

Editor's Note: This is JoAnn Laing's monthly blog.

When Staples opened its first store, stationary establishments were amongst the most profitable retail operations in America.

Within 15 years they were losing money and have almost disappeared from most shopping areas.

For those owners who did not heed the warnings blared at them by their fellow owners and trade press at the time they lost everything.

It is no different in today’s rapidly changing world.

With the end of the 2015 fiscal year nearing, businesses should be reviewing their consolidated revenues and thinking of ways they can increase their profit margin as they enter the new fiscal year or second-half of the calendar year.

Both large and small companies may benefit from simple business practices that will increase clientele, boost productivity and efficiency, and improve labor utilization.