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Office of Capital Access #sba #loan

#sba grants


Office of Capital Access | Resources

Please visit the SBIR Website as managed by SBA’s Office of Investment Innovation for complete and thorough details on the SBIR/STTR Programs.

Competitive Opportunity for Small Business:

SBIR and STTR are highly competitive programs that encourage small business to explore their technological potential and provide the incentive to profit from commercialization opportunities. By including qualified small businesses in the nation’s R D arena, high-tech innovation is stimulated and the United States gains entrepreneurial spirit as it meets its specific research and development needs.

These two programs target the entrepreneurial sector because that is where most innovation and innovators thrive. However, the risk and expense of conducting serious R D efforts are often beyond the means of many small businesses. By reserving a specific percentage of federal R D funds for small business, SBIR and STTR protect the small business and enable it to compete on the same level as larger businesses. This program funds the critical startup and development stages and it encourages the commercialization of the technology, product, or service, which, in turn, stimulates the U.S. economy.

Since its enactment in 1982, as part of the Small Business Innovation Development Act, this program has helped thousands of small businesses to compete for federal research and development awards. Their contributions have enhanced the nation’s defense, protected our environment, advanced health care, and improved our ability to manage information and manipulate data.


Small businesses must meet certain eligibility criteria to participate in the SBIR or STTR programs. Complete details on eligibility can be found on SBIR.gov but in quick synopsis your small business firm should include:.

  • American-owned and independently operated
  • For-profit
  • Principal researcher employed by business
  • Company size limited to 500 employees

    The SBIR System:

    Each year, eleven federal departments and agencies are required by SBIR to reserve a portion of their R D funds for award to small business.

    • Department of Agriculture
    • Department of Commerce
    • Department of Defense
    • Department of Education
    • Department of Energy
    • Department of Health and Human Services
    • Department of Homeland Security
    • Department of Transportation
    • Environmental Protection Agency
    • National Aeronautics and Space Administration
    • National Science Foundation

    These agencies designate R D topics and accept proposals.

    Three-Phase Program:

    The SBIR and STTR Programs are structured in three phases:

    Phase I. The objective of Phase I is to establish the technical merit, feasibility, and commercial potential of the proposed R/R D efforts and to determine the quality of performance of the small business awardee organization prior to providing further Federal support in Phase II. SBIR Phase I awards normally do not exceed $150,000 total costs for 6 months.

    Phase II. The objective of Phase II is to continue the R/R D efforts initiated in Phase I. Funding is based on the results achieved in Phase I and the scientific and technical merit and commercial potential of the project proposed in Phase II. Only Phase I awardees are eligible for a Phase II award. SBIR Phase II awards normally do not exceed $1,000,000 total costs for 2 years.

    Phase III. The objective of Phase III, where appropriate, is for the small business to pursue commercialization objectives resulting from the Phase I/II R/R D activities. The SBIR program does not fund Phase III. Some Federal agencies, Phase III may involve follow-on non-SBIR funded R D or production contracts for products, processes or services intended for use by the U.S. Government.

    SBA Role:

    The US Small Business Administration plays an important role as the coordinating agency for the SBIR program. It directs the 11 agencies’ implementation of SBIR, reviews their progress, and reports annually to Congress on its operation. SBA is also the information link to SBIR. SBA collects solicitation information from all participating agencies and publishes it quarterly in a Pre-Solicitation Announcement (PSA). The PSA is a single source for the topics and anticipated release and closing dates for each agency’s solicitations.

    For more information on the SBIR Program, please visit http://www.sbir.gov .

    All of SBA’s programs and services are extended to the public on a nondiscriminatory basis.

Greece – Bulgaria: Call for innovative business ideas of young people (SMART START-UP project) #business #profile

#innovative business ideas


European Territorial Cooperation is an Objective of the Cohesion Policy and provides a framework for the exchange of experiences among local and regional actors from across Europe


European Territorial Cooperation contributes in the transformation of the European regions into strong economic and social poles through the funding of common projects

The team.

Our officers are responsible for the management of five bilateral cross-border Programmes and the national coordination of the seven multilateral Programmes, Greece is participating in


More growth and jobs for all regions of the European Union through the promotion of cross-border, transnational and interregional cooperation


European Territorial Cooperation Programmes enhance economic and social cohesion, encouraging balance development and promoting competitiveness

The Business Information and Consulting Centre – Sandanski announces a call for innovative ideas for start-up or development of business by young people with potential and interest in entrepreneurship, new technologies and innovation. The aim of the SMART START-UP competition is to encourage and motivate young people to generate innovative business ideas with potential for further development.

Detailed information concerning the conditions, deadlines and required documents for application can be found here

Please note that the deadline for submission of business ideas is: 29.05.2015, 17:00

This initiative is carried out within the framework of the Project SMART SPECIALIZATION

Events calendar

European Territorial Cooperation Programmes are co-funded by European Union and National Funds of the countries participating in them


Register in Newsletter:

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An Overview Of Corporate Bankruptcy #suntrust #business #banking

#business bankruptcy


An Overview Of Corporate Bankruptcy

If a company you’ve got a stake in files for bankruptcy, chances are you’ll get back pennies to the dollar. Different bankruptcy proceedings or filings generally give some idea as to whether the average investor will get back all or a portion of his investment, but even that is determined on a case-by-case basis. There is also a pecking order of creditors and investors of who get paid back first, second and last. In this article, we’ll explain what happens when a public company files for protection under U.S. bankruptcy laws and how it affects investors.

Two Major Types of Bankruptcy
Chapter 7
The U.S. Securities and Exchange Commission states that under Chapter 7 of U.S. Bankruptcy Code “the company stops all operations and goes completely out of business. A trustee is appointed to liquidate (sell) the company’s assets, and the money is used to pay off debt”. The investors, or creditors, who take the least risk are paid first.

For example, investors who take a relatively reduced risk in the company by purchasing corporate bonds must forgo the potential of seeing any excess profits the company may earn in the future. For the higher safety of the bonds, the investors agree to receive, at most, their specified interest payments. Equity holders, however, have the full potential of seeing their share of the company’s retained earnings. which would be reflected in the stock’s price. But the tradeoff for this possibility of boosted returns is the risk that the stock may lose value. As such, in the case of a Chapter 7 bankruptcy, equity holders may not be fully compensated for the value of their shares. In light of the risk-return tradeoff. it seems fair (and logical) that shareholders are second in line to bondholders when a bankruptcy does occur.

Secured creditors. who are even more risk-averse than regular bondholders, accept very low interest rates in exchange for the added safety of corporate assets being pledged against the company’s debt. Therefore, when a company does go under, secured creditors receive priority and are paid back before any regular bondholders begin to see their share of the pie. This principle is referred to as absolute priority. (For more insight, read the Stocks Basics Tutorial .)

Chapter 11
This proceeding of the U.S. Bankruptcy Code involves the reorganization of the debtor ‘s business affairs and assets. The company undergoing Chapter 11 expects to return to normal business operations and sound financial health in the future. It’s generally filed by corporations that need time to restructure debt that has become unmanageable. Chapter 11 gives the debtor a fresh start, which depends on the debtor’s fulfillment of obligations under the reorganization plan. A Chapter 11 reorganization is the most complex and, generally, the most expensive of all bankruptcy proceedings. It is therefore undertaken only after the company has carefully analyzed and considered all alternatives.

Chapter 11: The Drink of Choice
Public companies tend to try to file under Chapter 11 rather than Chapter 7 because it allows them to still run their businesses and control the bankruptcy process. Rather than simply turning over its assets to a trustee, a company undergoing Chapter 11 has the opportunity to restructure its financial framework and be profitable again. If it fails, all assets are liquidated and stakeholders are paid off according to absolute priority.

Keep in mind that Chapter 11 isn’t a get-out-of-jail-free card. When a company files for Chapter 11, that company is assigned a committee that represents the interests of creditors and stockholders. This committee works with the company to develop a plan to reorganize the company and to get it out of debt, reshaping it into a profitable entity. Shareholders may be given a vote on the plan, but as their priority is second to all creditors, this is never guaranteed. If no suitable reorganization plan can be prepared by the committee and confirmed by the courts, shareholders may not be able to stop their company’s assets from being sold off to pay creditors. (For related reading, check out Finding Profit In Troubled Stocks .)

How It Affects Investors
As an investor, you are between a rock and a hard place if your company faces bankruptcy. Clearly, nobody invests money into a company, whether through its stock or its debt instruments. expecting the company to declare bankruptcy. However, when you venture outside of the risk-free realm of government-issued securities, you are accepting this added risk.

When a company is going through bankruptcy proceedings, its stocks and bonds usually continue trading, albeit at extremely low prices. Generally, if you are a shareholder. you will usually see a substantial decline in the value of your shares in the time leading up to the company’s bankruptcy declaration. Bonds for near bankrupt companies are usually rated as junk.

When your company goes bankrupt, there is a very good chance you will not get back the full value of your investment. In fact, there is a chance you won’t get anything back. Here is how the SEC summarizes what may happen to stock- and bondholders during Chapter 11:

“During Chapter 11 bankruptcy, bondholders stop receiving interest and principal payments, and stockholders stop receiving dividends. If you are a bondholder. you may receive new stock in exchange for your bonds, new bonds or a combination of stock and bonds. If you are a stockholder, the trustee may ask you to send back your stock in exchange for shares in the reorganized company. The new shares may be fewer in number and worth less. The reorganization plan spells out your rights as an investor and what you can expect to receive, if anything, from the company.”

Basically, once your company files under any type of bankruptcy protection, your opportunities and rights as an investor change to reflect the bankrupt status of the company. While some companies do indeed make successful comebacks after undergoing restructuring, you need to realize that the risks you accepted when you invested in the company can become reality. And if your stake in the pre-Chapter 11 company ends up being worth anything in the restructured firm, chances are it won’t be as much as it was when you first entered your position and it won’t be in the same form.

During Chapter 7 bankruptcy, investors are considered especially low on the ladder. Usually, the stock of a company undergoing Chapter 7 proceedings is usually worthless, and investors lose the money they invested. If you hold a bond, you might receive a fraction of its face value. What you receive depends on the amount of assets available for distribution and where your investment ranks on the priority list on the first page.

Secured creditors have the best chances of seeing the value of their initial investments come back to them. Unsecured creditors and shareholders must wait until secured creditors have been adequately compensated before they receive any compensation for the loss of their higher-yielding investments. Because equity owners are last in line, they usually receive little, if anything.

From an investor’s point of view, there isn’t much good to say about bankruptcy. No matter what type of investment you made in a company, once it goes bankrupt you are probably going to get a lower return on your investment than you once expected. As an individual investor, you don’t have any more say in a company’s restructuring plan than you do in any other corporate actions on which shareholders vote.

In general, Chapter 11 is better than Chapter 7, but in either case you shouldn’t expect much of your investment back. Relatively few firms undergoing Chapter 11 proceedings are able to be profitable again after a reorganization; even if they do become profitable again, it is not a quick process. As an investor, you should react to a company’s bankruptcy the same way you would if one of your stocks took an unexpected dive: recognize and accept the dramatically reduced prospects of the company, and ask yourself whether you still want to be invested in the company. If the answer is no, let go of your failed investment – holding on while the company undergoes bankruptcy proceedings will only lead to sleepless nights and perhaps even greater losses in the future.

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The 5 Worst Pieces of Advice for Small Business Owners #business #technology

#small business advice



The 5 Worst Pieces of Advice for Small Business Owners

When you’re starting a business, there’s no shortage of people eager to hand out advice. It seems that everyone, even someone you’ve just met, has an opinion on how you should be developing your product, running your marketing, handling your finances and much more.

I’ll be the first to admit that I’ve met some very smart people and have had great mentors over the years. Their contributions have been invaluable to my success. Yet after launching two companies over two decades, I’ve come across some terrible advice.

Below are the top five bits of advice that I could have done without.

1. “Hire people you know.”

I’ve had countless people tell me that it’s always better to assemble a team of “known quantities” — friends, colleagues or former employees whom you know and trust. But I’ve discovered that for me, the best hiring decisions are based on the specific positions I need to fill at that moment in time. In other words, I need to focus on the specific expertise and skill sets the company needs, rather than trying to piece together how Jill, Sally and Joe will fit into the new business.

In addition, if things aren’t working out between an employee and your company, you need to part ways (and usually, the sooner the better). You may be more reluctant to let friends go, even if you know they aren’t good fits.

2. “There’s no room for you in the market.”

When my husband and I launched a legal document filing company the second time around, the field was quite crowded, with several big names and established players. Many people told us to find a new space because there simply wasn’t room for us to compete.

However, the key to business success doesn’t always hinge on finding a completely empty field; rather, it’s how you define your company and its place in the market. Starbucks wasn’t the first company to sell coffee, but they did revolutionize the coffee shop by selling an experience along with a caffeine fix. Still, numerous boutique coffee shops are able to open and thrive today, even though there’s a Starbucks around the corner.

Rather than struggling to come up with a brand new idea, take a look at your target industry and see where there’s a void to be filled. Figure out the best possible way to fill that need and run with it. You don’t always have to blaze a new trail, but you need to know who you are.

3. “You have to be cheaper than the other guys.”

I admit that my husband and I fell into this pricing trap with our company. We felt that the only way we could compete with the “big guys” was to undercut them on price. So, we dropped our prices. Our business grew, customers were happy, more customers came in, yet we were nearly losing money with every new order.

Many young companies feel the pressure to discount their prices heavily in order to win business. While customer acquisition is important, attracting customers at unsustainable price levels will just result in a race to the bottom. I’ve learned that you’re better off in the long run to focus on how to bring more value to customers, rather than simply slashing your prices. After all, someone will always be able (or willing) to absorb a lower cost than you. You’ll need to find a new way to stand out, and then work as hard as you can to be exceptional in those differentiating areas.

4. “Social media is free.”

Over the past several years, I’ve had people tell me that starting a small business today is much easier than a decade ago, because of all the free marketing on Facebook. Twitter and Yelp. Sure, you don’t have to spend a dime to join Facebook, create a Twitter account or start a blog. But, I think a more apt comparison is that social media is free like a puppy. It may not cost much to bring a shelter puppy home, but from day one, it’s an endless whirlwind of training, toys and treats.

Likewise, social media is far from free once you factor in the blood, sweat and tears it demands. From developing fresh content to keeping up conversations, social media requires nonstop commitment once you start. Unless you consider your time (or the time of your employees) worthless, then there’s a significant cost involved with social media.

5. “You have to spend money to make money.”

This cliché never applied to our business, particularly at the beginning. We set up shop in our apartment and did everything we could to keep expenses down. Sometimes we thought things would be better if we just had the money for X, Y or Z. But it’s risky to think that throwing money at a problem is your silver bullet. Sometimes, creative thinking and strategy work far better than a checkbook.

We had to learn the difference between spending money and investing in the business. Certainly, money can scale a business faster, but only when you spend money on those things that will produce more money in return.

Final Thoughts

People will always give you advice — some good, some bad. The key is to never forget that you are running the show. Other people’s opinions should always be viewed through the context of your own experiences, convictions and value system.

Final decisions are always up to you, so there’s no blaming someone else for bad advice.

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Bachelor of Business Management (BBM) #business #plan #model

#business management


Bachelor of Business Management (BBM)

Business management professionals are the people who get things done. They oversee the performance of teams and operations to maximise a company’s potential for profit. To achieve this they need to be skilled in all areas of business including sales and marketing, accounting and finance, human resources, communication and negotiation, logistics, legal issues and leadership. Every organisation in every industry requires management professionals. This makes Business Management one of the most versatile and rewarding careers available to you.

The ICMS Bachelor of Business Management is highly regarded by the professional services industry. Your Business Management degree at ICMS is a well-rounded qualification with opportunities for in-depth study in a professional services sector of your choice. Your core subjects are supplemented with business electives or specialist industry electives in a range of study areas.

A Business Management degree designed by the best, for the best

At ICMS we are connected with industry

The ICMS Bachelor of Business Management is developed and continually updated by industry professionals including business managers, specialist managers, and retail and service professionals. This ensures that degree content is constantly relevant to the needs of industry. You will gain specialist knowledge in business management and be trained to work in an international environment.

1,200 hours of real industry experience

When you graduate from ICMS you’ll have more than just a degree. Built into your qualification is 1,200 hours (9 months) of industry experience. Our industry training consultants will help place you in an organisation relevant to your studies so that after your degree you’ll have an impressive CV, a network of contacts and a significant advantage over other graduates.

You’ll think outside the box and outside the classroom

Theory is important; it will teach you the fundamentals you need to be a business management leader. But nothing is as valuable as putting theory into practice. In addition to your industry training, you’ll gain hands-on experience through practical classes. Field trips and site visits with our industry partners will get you learning about business operations and management issues from the best in the business.

You are an industry leader in training

This degree is far more than a business training program. You will combine general business subjects with a range of subjects from business categories, training you in the critical and analytical skills you’ll need to move into management when you graduate.

We’re the global industry experts

At ICMS we have lecturers with international careers and extraordinary business expertise. Guest lectures from our network of industry partners will keep your learning fresh and relevant and up to date with the latest demands from industry and your future employers.

Your Future

At ICMS we train you to be a leader in business management. When you graduate with an ICMS Bachelor of Business Management you will have transferable skills, industry experience, and in-depth knowledge of business management principles in practice. This will see you ready for a career that spans industries and continents. You can work in a multinational company locally or take your new found skills and experience around the world.

You could be working as a:

Our Business Specialisations

You can choose to specialise in one of five highly sought after areas of industry. Your chosen subject will appear on your academic transcript when you graduate. Alternatively, you can choose to study a range of subjects across the spectrum of business electives.


Entrepreneurs are made, not born. You can develop the tools and the skills to become an economic innovator, to think creatively, and to balance opportunity against risk. In Entrepreneurship you will learn to identify and exploit business opportunities and manage business growth. You will learn how to build, promote, and manage your own businesses by understanding processes used by start-ups and rapid growth small firms to large corporations and non-profits.

Marketing and New Media

As groups share, sell, and swap goods and information via the digital world, there are new opportunities and challenges for marketers. New media has seen a power shift in the way consumers and retailers relate. With a greater public voice, consumers are taking a more active role in their purchase decisions. Any business involved in marketing requires the tools, tactics, strategies, and processes needed to create, track, and manage new media. Learn to make the technology work for you with integrated traditional and digital marketing communication strategies.

Retail Marketing

Retail marketing is a dynamic business. Technological, economic and social change influences consumer behaviour. Retail marketers must continually employ new tactics and strategies to secure sales and generate consumer loyalty. Retail marketing at ICMS has been developed in partnership with leading industry professionals. It examines consumer behaviour, retail technology, advertising, e-commerce, social media, buying and logistics, and visual merchandising. Retail growth is critical to the global economy, and to the sustainability of every retail business. Retail marketing is ideal for careers in marketing, merchandising, store management, buying, management or logistics management.

Our Industry Connections Are Yours Industry Connections.

We have an impressive network of industry partners. These leading companies provide our ICMS community with invaluable industry insight and experience. When it is time to embark on your industry training, we work closely with them to find a suitable placement that is the best fit for your skills, interests and professional goals. Your industry training could take you to a major city, regional area or regional area in Australia. You could even take up a position in an international city. It is all part of finding the best placement for you. Not only is this an invaluable experience, it is also a chance to grow your professional network. For many of our graduates this experience introduces them to their future employers.

Subjects Snapshot

Career Planning and Strategy

Successful and satisfying careers don’t just happen. Learn the concepts, techniques, tools, and processes to plan and implement the career you want. With an emphasis on linking theoretical and empirical research with practical lifelong skill development, you will learn the best career management strategies for your work style, interests and personality.

Project Management

Project managers use limited resources to effectively and efficiently produce the best project deliverables without compromising scope, budget, schedule or quality. It involves planning, executing, controlling and closing the project. You will learn the essential principles, concepts and processes of project management to confidently use your skills in practice in any business environment.

Quality Management and Customer Service

The consumer experience can make or break a company. You will learn the effective methods that organisations use to measure, monitor and improve the quality of their services and products. Whether you work in customer service or own your own business, quality management and customer service strategies are critical to your professional success.

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Department of Family and Community Services – NSW Businesslink – now FACS Business Services #small #business #resources

#business link


Lefthand navigation

NSW Businesslink – now FACS Business Services

Businesslink was merged in to the Department of Family and Community Services as Corporate Services, Business Services on 1 July 2014.

The Business Services Unit primarily provides internal services to Family and Community Services, but also continues to provide services to a range of clients external to FACS including NSW Department of Education and Communities, Aboriginal Affairs, State Property Authority, Office of State Revenue, Juvenile Justice, NSW Mental Health Commission, Treasury Corporation and a range of non government organisations.

Services include a broad range of core, transactional and value-added services, specialising in areas such as Finance, Human Resources, Information Technology, Projects, Property, Workforce and Business services.

To find previous Annual Reports from NSW Businesslink, visit the opengov website .

Contact Details

Business Services Client Support Contact Details

Recruitment Enquiries

For all recruitment enquiries, please phone 1800 203 966.

National Criminal History Record Check Enquiries

Businesslink is accredited to undertake National Criminal History Record Checks. Should your organisation wish to utilise this service, the contact details appear below.

Regional Service Centres


Suite 1B, 239 King St, NEWCASTLE 2300
PO Box 2160 Dangar 2309
Phone: (02) 4925 0000
Fax: (02) 4925 0040


Suite 1, 120 Dalley St, LISMORE 2480
PO Box 1140 Lismore 2480
Phone: (02) 6623 1900
Fax: (02) 6623 1911


Suite 1.04, 7-9 Morisset St, QUEANBEYAN 2620
PO Box 1629 Queanbeyan 2620
Phone: (02) 6122 3500
Fax: (02) 6122 3511


Suites 5 6, 234-236 Summer St, ORANGE 2800
PO Box 2552 Orange 2800
Phone: (02) 6363 6150
Fax: (02) 6363 6166


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The Most Profitable Types of Small Businesses #green #business #ideas

#most successful small businesses


The Most Profitable Types of Small Businesses

If you re aiming for a lucrative business idea, it may be time to brush up on your number-crunching skills.

Accounting services topped the list of the top 15 small-business sectors by net profit margin over the last 12 months, according to Sageworks. a financial information company. The list was compiled using a database of more than 1,000 financial statements from private companies with less than $10 million in annual revenues.

The Sageworks data found that accounting led the pack in delivering the best profit margins, but service-based businesses in health care and real estate dominated the rest of the list.

Sageworks analyst Jenna Weaver notes that a lot of these service sectors are consistently at the top of the most profitable list. Service-based industries often have very healthy bottom lines, she says. Their overhead and equipment costs are often relatively low, and much of the time, it doesn t take a lot of upfront investment to get started.

Weaver adds: Often times, in cases like consulting, accounting, and legal services, you can get started right inside of your house, without even worrying about renting a space.

Check out the top 15 industries with the best net profit margins during the 12-month period ending July 31, 2014. For aspiring entrepreneurs, this may be the best place to start when considering new business ideas. (Note: Net profit margin has been adjusted to exclude taxes and include owner compensation in excess of their market-rate salaries.)

Credit: Sageworks, a financial information company (www.sageworks.com )

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Best Photos of Small Business Flyers Template Free – Small Business Flyer Templates, Business Event Flyer and Microsoft Business Flyer Templates #stock #markets #today

#business flyer templates


Photos of Small Business Flyers Template Free

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  • What type of accounts should I use for ATM businesses cash flow? QuickBooks Learn – Support #denver #business #journal

    #atm business


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    What type of accounts should I use for ATM businesses cash flow ?

    I use the cash accrual accounting style for my ATM business. I cycle cash through my ATM’s that I have entered into my QB as owners equity originally. I am wanting to balance the checking account. When that money cycles back through to my bank account and gets electronically deposited what is it considered? Is it an “other assett” or what? Then when I withdrawl to load machines again what type of account should I use for the withdrawls, a “short term liability” account? I really need some clearity.

    You might say the cash is my reaccuring supplies.

    Why do you want to report this?

    I think I am tracking with Mistyblue. I have the income account for the surcharge fees that users of the machine owe me. The expense account for any fees for the particular bank where my money is cycled through. But what about the ST liability account. are you saying use this account type for the electronic deposits from user’s of my machine’s back to my account and use it for my withdrawls to load back into my machine. I thought I would need a “plus” and a “minus” sort of set up with the accounts?

    Recommended Answer

    2 people found this helpful

    This is how I have done this: I’ve set up a bank account for the ATM in qb as well a income account and I used a short term liability account. Of course a bank service charge account for the ATM.

    The short term liability account is the cycle account (withdraw and well as put back) – The income part I separate to its own income account. This way tracking income, expense, and your main cycle account. Which bottom line each rec balances. Note: I would check as well with your accountant on according to your area on sales tax requirements.

    Was this answer helpful? Yes No

    I think I am tracking with Mistyblue. I have the income account for the surcharge fees that users of the machine owe me. The expense account for any fees for the particular bank where my money is cycled through. But what about the ST liability account. are you saying use this account type for the electronic deposits from user’s of my machine’s back to my account and use it for my withdrawls to load back into my machine. I thought I would need a “plus” and a “minus” sort of set up with the accounts?

    1 additional answer

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    This post has been closed and is not open for comments or answers.

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    10 greatest entrepreneurs of all time – Business – Small business #business #cards

    #top entrepreneurs


    History s 10 greatest entrepreneurs

    By Philipp Harper

    Special to msnbc.com

    How many entrepreneurs have there been in the history of the world? Millions, certainly, probably even billions. These are the men and women who take capital — their own or somebody else’s — and use it to beget more capital. Some fail, some succeed, some excel.

    With so many candidates to choose from, any list of the 10 greatest entrepreneurs of all time will necessarily be somewhat arbitrary. It will also be top-heavy with Americans, just as a list of great chefs would be disproportionately French or of great eccentrics dominated by the British.

    Business is what America does. If that sounds chauvinistic, get over it.

    Here, without further ado but with tongue occasionally in cheek, are history’s 10 greatest entrepreneurs.

    1.King Croesus. A pick by our veterans committee, Croesus, who ruled the Asia Minor kingdom of Lydia in the sixth century B.C. is owed a huge debt of gratitude for minting the world’s first coinage, thereby creating in a single stroke the lifeblood of every business: liquidity and cash flow. Moreover, his opulent lifestyle has given entrepreneurs throughout history something to shoot for. Is there a greater distinction for the commercially inclined than to be deemed “as rich as Croesus”?

    2.Pope Sixtus IV. Sixtus gets the nod for realizing that the “wages of sin” meant more than unpleasant repercussions. There was money to be made in damnation, and Sixtus mined it by opening up a new market — the dead — for the indulgences the church had been selling for years. Relatives of the deceased quickly filled the Vatican’s coffers with payments intended to lessen the time their loved ones spent in purgatory. In 1478 Sixtus “grew his market” by authorizing the Spanish Inquisition, which swelled purgatory’s ranks by 100,000 souls in 15 years. He also was the first pope to license brothels.

    3.Benjamin Franklin. In a real sense, Franklin was America’s first entrepreneur. Unlike other of the Founding Fathers — the hypermoral Washington, the prodigiously intellectual Jefferson — whose virtues and attainments are seen today as anachronisms, Franklin truly was a model of what many of us would become. Beneath the statesman’s mantle resided a popular author, a printer, an inventor (the lightning rod, bifocals) and a very savvy businessman who knew how to commercialize the fruits of his fertile mind.

    4. P.T. Barnum. Americans have always loved a good scam and Phineas Taylor Barnum took the art to new heights. He played on our fascination with the bizarre and freakish with sideshow acts ranging from the midget Tom Thumb to Jumbo the giant elephant. In between was a host of more dubious curiosities. He created the Barnum and Bailey Circus as a showcase for all this wonderment, and dubbed it “the Greatest Show on Earth.” Along the way he invented modern advertising and became rich. For the record, he never said “There’s a sucker born every five minutes,” but he left behind plenty of other bon mots. Among them: “Every crowd has a silver lining.”

    5.Thomas Edison. What do you say about the man who gave the world the electric light, the phonograph, talking motion pictures and more than 1,300 other patented inventions? That he was the world’s greatest inventor, certainly. But he was also able to exploit the profit potential in his creations, an entrepreneurial bent that asserted itself when Edison was a teen-ager, printing a newspaper in the baggage car of a rolling train and then selling copies to passengers. His impact on the way people live was and is pervasive. As a combination of inventive genius and entrepreneurial flair, he stands alone.

    6.Henry Ford. Ford also fundamentally changed human lifestyles by making available a vehicle, the Model T, that vastly extended people’s range of movement. The automobile would allow America’s masses to fulfill their Manifest Destiny to populate every corner of the continent. But his more profound impact was on industry. The moving assembly line he designed to build his cars was the signal breakthrough of the Industrial Age. Appropriately, Ford earned the seed capital for his enterprise by working as an engineer at the Edison Illuminating Company in Detroit.

    7.Benjamin Siegel. Known as “Bugsy” to his friends, Siegel was a notorious mobster with a touch of the visionary. Legend has it that he single-handedly invented Las Vegas, and that’s a stretch. But he was the first to see what the town could become: a lush oasis of pleasure where gambling was just one of the attractions. He also proved adept at attracting other people’s money to build his iconic resort, The Flamingo. Trouble was, some of those other people belonged to an outfit called Murder Inc. and Siegel was gunned down in 1947 amid rumors he had stolen from his partners. But give the devil his due: Before there was the Bellagio, there was Bugsy.

    8.Ray Kroc. Nothing says entrepreneur like persistence, and nothings says persistence like Ray Kroc, the kitchen wares salesman who in 1954, at age 52 and in poor health, had his imagination hijacked by a family-run restaurant in the desert outside Los Angeles. Once he had bought out the McDonald brothers, Kroc proceeded to take their concept of a limited menu, fast service and low prices and expand it nationally, in the process creating the fast-food industry and dramatically affecting America’s lifestyle and, sadly, collective health.

    9.H. Ross Perot. Within every entrepreneur lurks a touch of the cowboy, and there’s no better example of the strain than Perot, the diminutive Texan who has become best known in recent years as a political gadfly. Before that, though, he was all business, using a $1,000 loan from his wife in 1962 to launch Electronic Data Systems. Perot’s winning idea was that large corporations and organizations needed data-processing help if they were to take full advantage of computer technology. When in the mid-’60s he won contracts with two new federal health-care programs — Medicare and Medicaid — EDS was off and running and Perot was on his way to being one of America’s richest citizens.

    10.Jobs & Wozniak. Apple Computer’s two Steves weren’t the first Silicon Valley entrepreneurs to launch a billion-dollar business from a Palo Alto garage — Hewlett and Packard were there before them — but they were the first to democratize computing by creating a machine whose use was so wonderfully intuitive that even technophobes embraced it. Combine the elegance of Wozniak’s operating system design with Jobs’ marketing savvy (remember Apple’s “1984” ad?) and the result was a true phenomenon. Yes, the Apple was eclipsed by the PC, but only after Microsoft (behind the vision of two other notable entrepreneurs, Bill Gates and Paul Allen) developed Windows to ape its rival’s ease of use.

    Philipp Harper is a freelance journalist living in south Georgia.

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