7 Small Business Scams To Watch Out For

7 small business scams to look out forAs if running a business in today’s economy is not tough enough, we also have to deal with fraud on top of it all.   Fraud can cause a small business to experience financial effects as well as damage to your hard earned reputation.

Every year the BBB receives thousands of complaints from small business owners who fell for an invoicing scam or were misled into paying for products and services they didn’t want. Scammers aren’t always trying to steal money from a business; sometimes they are after a company’s financial or customer data and will use many kinds of high and low-tech methods for getting it.

Continue reading

Upholding a Culture of Confidentiality

protection customer confidentialityAccording to a recent Trend Micro Global Survey, data loss is one of the biggest concerns for small businesses. It is hard to safeguard your company information if not all your employees think of its importance. Not everybody can appreciate the fact that ensuring the safety of your data is the lifeline to the success of your business.

Confidential information is entrusted to your company by your clients and it is done because they trust you and your services. It is natural therefore that everyone who represents your company in one way or another should be vigilant in protecting confidentiality.…

Continue reading

Achieving The Right Balance In Employee Interaction

employee interaction

Operating a business, no matter which industry you enter, is vastly competitive. It comes as no surprise then that small business owners are especially critical of how productive their employees are. Low productivity is bad for business, we don’t need to be rocket scientists to figure that out.

One of the most common (and most obvious) reasons why there is a decrease in productivity is employee interaction. In a dog-eat-dog world, there’s still such a thing as too much and too little and both can result in loss instead of profit. Striking the right balance is crucial in ensuring that productive time is exactly what it should be: productive.…

Continue reading

Cloud Computing and Your Small Business

cloud computingIn a constantly changing technological world, small businesses try to keep up with the hype by getting on the innovation band wagon. One such innovation is cloud computing. Designed to remotely host software, servers and data storage, it promises to reduce operational expenses and lower the cost of energy bills.

This of course is beneficial to those who have limited budget and limited knowledge of technology infrastructures such as small business owners. Yet, a cloud hosting survey reveals that more than half of SMB respondents have no intention of using this trend. And the reason for this is that small business owners are not well informed of what cloud computing is and what its benefits are.…

Continue reading

Small Business Data Protection Tips

data protection tipsLoss of data is one of the reasons why a business may result in failure. Since businesses run on information, when data is lost or access those data are disrupted, the impact may threaten business operations.

According to Ontrack Data Recovery Findings, there are five causes of data loss:

  1. Human Error
  2. Computer Viruses
  3. Natural Disasters
  4. Hardware or System Problem
  5. Software Corruption or Program Problem

The above-mentioned root causes account for loss of revenue for businesses across different industries which are alarming especially for small business owners. The lack of disaster recovery plans may spell disaster and this is not uncommon for SMBs who typically do not have the budget and internal IT expertise compared to large enterprises.…

Continue reading

The Infiltration Of Mobile Solutions In Small Business

mobile technology for small businessThe business industry is becoming more fast-paced and inventive in hopes of expanding their customer base. In fact, more entrepreneurs are now joining the mobile computing band wagon to gain more traction for their small business.

Mobile computing is part of a technology that can change your business and it is all about portability and convenience as well as providing an avenue for increased operational efficiency. As a small business owner, being away from the office can have some serious effects on your productivity and having the capability to remotely access your files definitely serves as one of the biggest advantages of this technology.…

Continue reading

What Every Small Business Should Know About Business Incubation

advice and help from business incubatorsBusiness incubation has been in existence in the U.S since 1959 and has been growing ever since. In Anita Campbell’s article, Business Incubators: The Next Innovation Engine?, legislators are looking into business incubation as a way to boost job growth.

Since small businesses are the major contributors in job creation, it just makes sense that the small business sector be given as much support as the government can. More help = more small businesses= more jobs.

Business incubation has a wide range of services. It goes above and beyond just leasing a space and giving sound business advice. Some services include help with regulatory compliance, access to angel investors or venture capitalists, and other administrative services which are essential to any type of business.…

Continue reading

5 Smartphone Apps CEOs Shouldn’t Ignore

smartphone apps for CEOsEverywhere you look, people are doing something with their phones. They are either texting someone, or they are using one of the thousands of apps available.

Small business CEOs need to have access to their office even when they aren’t in them.   Here are some smartphone apps to help you out.

1. iTerminal – One thing any company needs is the ability to get paid. The iTerminal app will allow you to accept credit card payments right from your iPhone. All you have to do is enter the information in the easy to use interface and it will process the payment immediately.…

Continue reading

Frugal Business Spending: A Must In A Tough Economy

frugal business spendingIn these tough times, the biggest impact of the economic downturn is being felt by the small business sector. This is largely because of the fact that there are fewer resources available to counter the effects of an uncertain economy. The best way for a small business to thrive nowadays is by cutting costs. Practicing frugality in your business does not mean that you are sacrificing the quality and service level of your company. Cost cutting on certain aspects of your business could just be the economic stimulus needed to let you bounce back from an economic spiral.

Basically, there are six areas you can start spending less on but still retain the quality of your products and services.…

Continue reading

Employee Training – A Wise Investment

employee training programOne of the most important aspects of small business management is the manpower. This is where the business operation and the business success relies. If the manpower is weak, it is not possible to achieve the goals and plans of the company. Entrepreneurs are already aware that in order for their business to succeed, they must select and hire the right people.

But most often than not, employees are raw in terms of the knowledge regarding your business. That is why staff training should be implemented so that your employees will get the chance to update their skills and learn more about your business.…

Continue reading