For many American small businesses, President Donald Trump's expanded trade war may soon cause big problems. His administration is preparing to extend 25% tariffs to practically all Chinese imports not already hit with duties, including toys, sneakers, shirts, alarm clocks, toasters and coffeemakers. That's roughly $300 billion worth of products on top of the $250 billion targeted earlier."The administration's decision to announce a tax on every product coming from China puts America's entire economy at risk," the Retail Industry Leaders Association said in a statement. "Americans' entire shopping cart will get more expensive." The Office of the U.S. Trade Representative on Monday published a list of 3,805 products that could be hit for the first time with 25% tariffs. The list includes things like tuna, pacifiers, saw blades, flashlights, door chimes, billiard balls and golf carts. It excludes pharmaceuticals and rare-earth minerals used in electronics and batteries. In its … [Read more...] about China tariffs a big problem for small businesses in U.S.
Best hris for small business
Low U.S. unemployment and rising employee wages make it a challenging time for small businesses to find the right workers.Classifying workers as employees when they're independent contractors may mean shelling out out more in payroll taxes or even a violating labor laws.Business owners should understand the difference between the services offered by bookkeepers and accounts.It's a challenging time for small business owners to hire and manage employees. With U.S. unemployment near a 50-year-low, qualified workers are in short supply, while major companies and a number of states around the country are hiking their minimum wage. For small businesses, that puts a premium on getting their payroll processes right. Especially crucial for employers: properly classifying workers as full employees or as independent contractors. Mistakes can mean running afoul of labor laws and paying more in payroll taxes to the IRS. Given the thin margins for many small businesses, it's no exaggeration to say … [Read more...] about For small businesses, the right payroll system can deliver big benefits
Running a business is personally satisfying for many entrepreneurs, but waiting to get paid certainly isn't. A majority of small businesses face this problem, according to multiple surveys. Nearly two-third of small businesses have a late invoice at any given time, meaning that the average small business owner is waiting an extra six days to get paid, said Monica Mehta, managing principal at Seventh Capital. Late payments mean a majority of entrepreneurs aren't able to pay themselves on time, and nearly one-fifth wouldn't be able to invest in their own businesses."That becomes a domino effect into the future performance of their business," Mehta said. Here are three tips she shared to attract and keep paying customers.Know who you're working withEntrepreneurs can typically check a smaller business' credit report, to see if they have a history of delinquent payments. Mehta noted, however, those who purposely pay late are often larger clients, because they know that the smaller … [Read more...] about Three tips for small business owners dealing with late-paying customers
Joyce M. Rosenberg, Ap Business Writer Updated 9:33 am PST, Wednesday, January 2, 2019 FILE - This Oct. 23, 2018 file photo shows HealthCare.gov website on a computer screen in New York. Small business issues often win bipartisan support on Capitol Hill, but given the divisions in the incoming 116th Congress, advocates for companies have low expectations. less FILE - This Oct. 23, 2018 file photo shows HealthCare.gov website on a computer screen in New York. Small business issues often win bipartisan support on Capitol Hill, but given the divisions in the incoming ... more Photo: Patrick Sison, AP Photo: Patrick Sison, AP Image 1 of / 4 Caption Close Image 1 of 4 FILE - This Oct. 23, 2018 file photo shows HealthCare.gov website on a computer screen in New York. Small … [Read more...] about Expect 2019 to be quiet in Congress — for small business
Joyce M. Rosenberg, Ap Business Writer Updated 11:58 am PST, Monday, November 12, 2018 FILE- In this Nov. 29, 2014, file photo shoppers form a long line at checkout during Small Business Saturday at the Arcadian Shop in Lenox, Mass. Many small and independent retailers who are holding Small Business Saturday shopping events Thanksgiving weekend are banding together with others, believing that there’s strength in numbers. (Stephanie Zollshan/The Berkshire Eagle via AP, File) less FILE- In this Nov. 29, 2014, file photo shoppers form a long line at checkout during Small Business Saturday at the Arcadian Shop in Lenox, Mass. Many small and independent retailers who are holding Small ... more Photo: Stephanie Zollshan, AP FILE- In this Nov. 24, 2012, file photo Ping's Tibet shop owner Ping Wu Longval, left, in Cotton Exchange shopping center, helps local costumer Sherry Rhodes with her shopping in … [Read more...] about Small businesses band together for Small Business Saturday