Of all the elements in starting a new business, location is among the most crucial. But it’s more than just finding a good spot. A prospective startup owner may need to look at different cities in order to take advantage of the potential audience, costs and revenue opportunities.

There is plenty of research out there about what the best cities are for small businesses, and different studies will yield different results, based on their metrics.

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How to Cope with Brexit
For small businesses owners, especially ecommerce merchants already selling (or thinking about selling) to UK consumers, the anxiety lies with unknown costs: what happens when Brexit takes effect? What new regulations or tariffs will be imposed on trade? How will that affect landed costs (taxes + import tariffs + shipping charges) to UK consumers? Will that change a seller's supply chain, and if so, how?

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Perhaps it is time to embrace some new first principles.

Making a first impression is not easy. People are just so sensitive these days. Sensitive about themselves, that is.

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Look the part You may be trembling inside, but you want to appear strong and in control. How can you communicate confidence that you may or may not be feeling? Try following these simple tips.

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These Deductions Can Really Help Your Bottom Line
When you deliver your files, receipts and spreadsheets this year, make sure to schedule some time with your accountant to discuss tax deductions that could save your business vitally important revenue. You may be aware of many of them already, but here’s a refresher course just in case.

For example, you probably know that while your salary is a non-deductible draw in many cases, you can deduct the salaries and wages you pay your employees. And speaking of wages, you can also deduct the fees you pay to professional service providers such as accountants, lawyers and perhaps even your tax preparer. Yay!

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Steven Mnuchin, Trumps candidate to run the Treasury Department, has stated that comprehensive tax reform will be an immediate priority of Trumps administration, and that his focus as Treasury Secretary will be stimulating economic growth and creating jobs through tax reform.

But how will this affect small businesses and their owners?

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Sometimes budget limits small businesses from executing their marketing ideas, but not every successful strategy requires a lot of money. Here are six outside the box ways to market your small business that are both inexpensive and effective.

1. Get personal.

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Paying taxes is unavoidable, yet that does not mean you need to pay more than necessary. You can make smart decisions to minimize your tax burden, without running afoul of the IRS.

For small businesses and entrepreneurs, business structure impacts how you pay taxes, and potentially how much you pay as well. The biggest difference is whether the business is its own entity responsible for paying taxes or whether the business’ profits are passed along to the owners’ individual taxes.

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However, a business exit strategy not only means having a plan for the unexpected - including financial hardship, injury, disability and even death - it also means having a plan for the succession or transfer of ownership of your business when it comes time to hang up your hat and retire.

How to plan an exit strategy for your small business

The topic of emotional intelligence (EQ) continues to dominate leadership conversations. Rightly so. However, in a Harvard Business Review (HBR) article that highlighted research by Daniel Goleman and Richard Boyatzis (experts on the topic), EQ is only the beginning.

Whereas EQ has an emphasis on individual psychology, there is a more relationship-based version called social intelligence. Social Intelligence, as defined by Goleman and Boyatizis, is a set of interpersonal competencies built on specific neural circuits and responses that inspire others to be effective. In other words, based on neuroscience and biology, there are certain leadership behaviors that elicit positive emotional responses in your team members.

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Last summer, Square began offering loans to non-Square merchants with the help of a restaurant software partner called Upserve. Now, the payments and financial services company has created a formal partnership program with the long-term goal of reaching millions more.
Square Capital is launching the partnership platform with BigCommerce, an e-commerce software company that is letting Square make loan offers to its tens of thousands of small business clients.

Square is also extending loan offers to restaurants that work with its own delivery service, Caviar, but which do not already process payments through Square.

Taken together, these new partnerships give Jack Dorseys company a way to jumpstart further expansion of its lending program, which has already extended $1.8 billion in funds to more than 140,000 businesses since its launch three-plus years ago.

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Minimum wage increases in states across the country are helping drive up wages, although the rate of job growth at small businesses has slowed down, according to payroll giant Paychex.

The Paychex | IHS Markit Small Business Employment Watch, which Paychex compiles with the research firm IHS Markit, ended the year with a decline in small business job growth, but with wages higher compared to the previous year. The Small Business Jobs Index slipped to 99.70 in December, down 0.16 percent for the month and 0.78 percent for the year.

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Do you constantly find yourself making excuses? Do you try to ignore the toxic work environment you’re in? Are you in denial about your exercise and health regimen? Whatever it might be, if you want to be successful, you have to identify these things and face challenges head-on.

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The Tax Cuts and Jobs Act was signed into law by President Donald Trump on Dec. 22, 2017, and it is being put into action starting with the 2018 tax year.

On the personal side, the final bill cuts income tax rates in almost every tax bracket, doubles the standard deduction, eliminates personal exemptions, doubles the child tax credit, expands medical expense deductions, repeals the Obamacare tax and doubles the estate tax exemption.

On the business side of things, the tax bill lowers the corporate tax rate from 35 to 21 percent -- which is the lowest rate since 1939. For pass-through businesses -- which many small businesses are -- the standard deduction gets boosted to 20 percent.

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Although there are still many unknowns about the tax law that took effect Jan. 1, some small business owners have already figured out that they stand to gain from some of its changes and are changing their plans to maximize their benefits. Some believe they will get a break on income taxes for sole proprietorships, partners and what are called S corporations. Those who buy new computers, vehicles or other equipment can take a bigger deduction.

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Being a small business owner is expensive as it is -- every penny counts when entrepreneurs are living on razor-thin margins and fighting for market share. But owning and operating a small business is even more expensive when you pay more taxes than you owe.

In a survey personal finance expert Garrett Gunderson conducted of his small business-owner clients and wrote about for Forbes, approximately 93 percent of them had overpaid over the past dozen years. Now, nobody expects owners to be tax professionals -- you do have businesses to run, after all -- but it's important to know where you can save money in order to invest that money back into your business.

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The Tax Cuts and Jobs Act (TCJA) was signed into law by President Trump near the end of 2017 and it mostly took effect in 2018. While the TCJA impacts almost every single individual taxpayer to some degree, the changes also significantly impact corporations and small businesses. In some areas, the impact was purposeful and directed. However, in other ways, the TCJA will have both positive and negative secondary effects. One area that could see a secondary or unintended boost due to a new tax deduction (IRC § 199A) for pass through businesses is retirement plans with small business employers.

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As an entrepreneur and an angel investor, I get really excited about the future of personal finance.

As new technologies develop, from cryptocurrencies to virtual wallets, I see advantages for businesses. I also see opportunities for everyday Americans and our families to make--and keep--more of our own money.

In meetings with financial technology startups, I am seeing so many incredible new developments on the horizon. Any innovation that improves how we live, shop, and pay sets off alarm bells--of the good kind--in my friendly neighborhood Certified Financial Planner brain.

Here is a sneak peek of why I think the next five to 10 years are going to make making money easier for all of us. It is thanks to these five emerging technologies:

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In the wake of yesterdays Supreme Court ruling, e-commerce companies are understandably both concerned and uncertain of their future. The 5-4 verdict overruled a 1992 precedent set by the case Quill v. North Dakota that only addressed mail-order businesses at the time, but it became a powerful legal bedrock for the e-commerce industry. It let companies without a robust physical infrastructure thrive during and after the dot-com boom by exempting purchases from sales tax, so long as the seller did not have a physical operation in the state where the customer resided. Now, following the court’s decision, states can start charging sales tax on internet purchases even when a retailer has no physical presence in that state.

A number of retailers, from Amazon to Etsy to Overstock.com, may be impacted. It is not necessarily because those corporations have been skirting sales tax collection, but some enable thousands of third-party sellers to do so, largely thanks to Quill v. North Dakota. In fact, Amazon, which last year started collecting sales tax in all 45 states that require it by law, may have a substantial amount of work to do to help its Amazon Marketplace sellers stay compliant.

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Small business advocates largely grumbled after the nation's highest court overturned a decades-old decision on online sales tax.

The Supreme Court ruled Thursday that states now have the power to force online retailers to collect sales tax in states where they do not have a physical presence, reversing a ruling from 1992 in a 5-4 decision. The move also revives a 2016 South Dakota law that required large, out-of-state e-commerce companies to collect sales tax, one that big e-commerce players fought. Some online retailers, such as Amazon.com, currently collect state sales tax on products they directly sell but do not collect taxes from many of the independent sellers on the site.

The decision removes the sales-tax savings that consumers could reap by making purchases online instead of buying from local brick-and-mortar shops. Although the move does help to level the playing field for physical small businesses, it also places new burdens on small online retailers.

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On Thursday, the Supreme Court overturned decades of law and precedent by allowing states to levy sales taxes on internet purchases. Like many things in life, the South Dakota v. Wayfair decision is a mixed bag. On the whole it was probably the right call, cleaning up an enormously incoherent and unfair tax regime that's only gotten worse as online retail has expanded.

But it will also hit many small businesses hard.

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Then, as the recovery progressed, taxes and regulations reemerged.   But over the last year, those two concerns have been displaced by the availability of qualified labor.  Finding qualified employees is always a concern in a growing economy and has certainly grown in importance in this expansion, even more prominent than in 2000, when the ratio of employment to the population hit a record high.

Assisting its rise to number one has been the decline in the concerns about taxes and the cost of regulatory compliance.  The sharp decline in concerns about taxes and regulatory compliance are most likely due to the policies of this administration.  Record levels of proposed regulations peaked in the last two years of the last administration but dropped to practically nothing early in this term.  Since then, many existing regulations and rules have been eliminated or scaled back.

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Well, it turns out that, according to decades of academic research, introverts are more likely than extroverts to have those characteristics:

1. Introverts are generally more creative.
Introverts are famously more creative than extroverts. According to the journal Perceptual and Motor Skills, Creativity is a problem-solving response by intelligent, very active, highly emotional, and extremely introverted persons.

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It is easy to see why text messaging is the most-used data service across the world. We send and receive five times as many texts compared with the number of phone calls each day, according to mobile intelligence firm Informate.

A huge 90 percent of the time, a text is read within the first three minutes of receiving. Customers who receive texts from businesses tend to have a 40 percent higher conversion rate than those who do not. Small businesses could benefit from this consumer behaviour.

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Tax season can be stressful for anyone, but given a number of changes made in the 2017 Tax Cuts and Jobs Act (TCJA), as well as ongoing legislative changes, the 2018 tax year stands to be especially difficult for small business owners to navigate. However, by making a few smart moves now and being mindful of strategies that will allow you to to capitalize on existing tax benefits, you can close out the year with the peace of mind that you made the best tax moves for your business.

In order to set yourself and your business up for success, know the current tax law and take advantage of what changes are coming and going.

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Despite recent stock market turmoil, everywhere you looked this year someone was heralding the strength of the economy, which grew at 3.5 percent in the third quarter. However, not all economic growth favors small businesses, and some even detracts from it. The Inc. Entrepreneurship Index, which measures the quarterly health of the U.S. startup economy, currently sits at 83 out of 100 for the third quarter of 2018. This is down two points from the second quarter and a full nine points from the first quarter of 2017, when our Index peaked. Our indicator sees one factor in particular still dragging like an anchor on the startup economy: job growth.

Even though overall economic conditions have been largely favorable, small businesses have hit a growth ceiling as larger companies--bolstered by generally strong market conditions, favorable tax policies, support from local governments, and easing federal regulations--have been gobbling up talent. This is why, for the past year, the Index has shown a startup economy that is strong but slowing.

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This past year, 2018, has been a very good one for innovation. We've seen the blockchain boom, the increase in low-code and no-code app development, the start of the rollout of 5G technology and AI and AR: All came into their own with countless programs and applications for both business and consumer life.

On the coattails of such a year, I believe that 2019 has the opportunity to show even more promise. Here are the trends I predict we will see in small businesses and across the industry as a whole:

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Incorporating augmented reality (AR), whereby an interactive experience of a real-world environment is created by computer-generated perceptual information, into business operations, marketing and functions, is not confined to big businesses with big budgets to play around with.

On the contrary, many small businesses are jumping on the burgeoning AR bandwagon, as a means of attracting new customers, retaining existing ones, and ultimately becoming more competitive and profitable.

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The Tax Cuts and Jobs Act (TCJA) included a bevy of changes that will affect the 2018 federal income tax returns of many small and medium-sized businesses and their owners. As tax return time approaches, here are the 10 changes that are most likely to affect your business or you as an owner.

1. New flat 21% tax rate for corporations
Before the TCJA, C corporations paid graduated federal income tax rates of 15%, 25%, 34%, and 35%. Personal service corporations (PSCs) paid a flat 35% rate. For tax years beginning in 2018 and beyond, the TCJA establishes a flat 21% corporate rate, and that beneficial rate applies to PSCs too. So the tax cost of doing business as a profitable C corporation is greatly reduced, and this favorable development will show up on 2018 corporate returns. Enjoy.

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Here are 15 examples of great integrated marketing campaigns that work by combining content, digital and website marketing, with traditional marketing methods like PR.

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SBDC Centers offer free consulting and free or low-cost training. (Find yours here.) Their results speak for themselves: SBDC clients grow sales by an average 18.1%, which is 4.3 times the national average. March 20th is SBDC Day, and to celebrate, we assembled some tips from their experts.

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Spreadsheets have long been an important tool for businesses. You can use them for just about anything. This includes budgeting and planning out important marketing campaigns.

No tool seems more synonymous with spreadsheets than Excel. Microsofts tool allows you to easily fill in spaces and create tables. But it also takes advantage of some more advanced features. However, starting from scratch will not give you a productive business.

You may want to take advantage of all that Excel has to offer. But maybe you don’t know exactly how to get started. So templates become a great option. Check out some sources for Excel business templates that can help you in 15 different areas of business operations.

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High-profile entrepreneurs like Stitch Fixs Katrina Lake and The Riveter's Amy Stern Nelson are using Stories to answer questions about everything from managing cash flow to storing breast milk during business trips.

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Small business owners have plenty of changes to deal with as 2020 begins — higher labor costs for many companies and some owners will discover that they have to comply with new laws that aren’t on the books in their own states.

As of Jan. 1, there are higher minimum wages in a quarter of the states and new federal overtime rules. The IRS has new W-4 forms owners will need to get used to. Plastic bags are on their way out at stores and other businesses in a growing number of places around the country. And California has new laws on freelancers and consumer privacy that can affect out-of-state companies.

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The deadline for filing taxes in the United States is eight weeks away, but new research has shown that small businesses are already being hit by tax season–related cyber-attacks.

Research conducted by Proofpoint indicates that attackers are aggressively jumping into tax season, with the deployment of two main attack strategies.

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Spring may be just around the corner, but for accountants and tax professionals, this is crunch time. Here are five ways you can help smooth out the filing process for your small business clients (and, consequently, yourself) this tax season.

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The CEOs of Apple, Amazon, Google, and Facebook faced the House Judiciary Committee virtually today, where they fielded questions about whether their respective tech companies take advantage of their dominant positions in the market to enhance their bottom lines.

Spoiler: They all said they do not.

Rep. Cicilline said House Judiciary will publish a report on the Antitrust Subcommittees finding, which will propose solutions. but his hearing has made one fact clear to me: These companies as they exist today have monopoly power. Some need to be broken up. All need to be properly regulated and held accountable, he concluded.

Traditional tax planning is transactional and, honestly, not nearly as beneficial as one might think. You ask your taxes preparer questions and figure out what to do in the spur of the moment. Creating a long-term plan of action for your taxes is how to create real savings, but it takes months to create an effective plan. Now is the time for business owners and investors to be planning to reap the rewards for the rest of 2020 and into 2021.

Analyze income
Many accountants suggest pushing income to a later year. There are a few different factors to consider when deciding whether to do this. First, is your income so low you lose deductions? Many personal deductions don’t carry over to the next year. Rather than taking deductions now, you may want to accelerate your income to make use of all your deductions. Another factor to consider is the next year’s tax rates. There’s a real chance that income tax rates could increase in 2021, so the best plan would be to accelerate your income into 2020 to avoid paying at a higher rate.

Kudos matter now more than ever. On average, social media endorsements of small businesses generate 23% of revenues, according to data from Amex.

Few things put more smiles on the faces of small-business owners than social media recommendations about their products or services, but now, new research proves that those online shoutouts also put cash in their bank accounts.

On average, social media endorsements of small businesses generate 23% of revenues—or approximately $197 billion—new data from American Express finds.

The Internal Revenue Service is planning to ramp up audits of smaller businesses and their investors by about 50 percent next year, following years of persistently low examination rates, an agency official said Tuesday.

The result could be a surge in audits of companies ranging from mom-and-pop retail stores and technology startups to investment funds that have historically faced only infrequent checks thanks to the time and effort required at the IRS.

This week the Wall Street Journal reported that nearly 300 companies that had received loans through the Paycheck Protection Program had filed for bankruptcy. The very next day, the Journal highlighted Americans using the Covid-19 pandemic to take their first steps on the entrepreneurial journey.

Existing small businesses continue to struggle. New entrepreneurs are seeking opportunities. That is what the data appears to be saying about the state of small business and entrepreneurship amidst the third Covid-19 wave.

Small Businesses Suffering, See Rough Road Ahead

In early November, Goldman Sachs surveyed nearly 900 small businesses. They found that four in 10 had laid off employees or cut compensation. If further government relief were not forthcoming, another 38% said they would need to do the same. Half of small business owners had stopped paying themselves.

A business owner who spent nearly $46 million over the years on Facebook ads said he got booted from the platform without warning.

Jordan Nabigon, the CEO of the Ottawa, Ontario, content-curation site Shared, said Facebook deleted his companys main Facebook page without warning in October, and without providing an explanation. He shared a Medium post detailing his experience, which has received more than 400 claps from readers.

Nabigon spent $45,870,181 on Facebook advertising between 2006 and 2020 for Shared and his other company Freebies, according to expense reports reviewed by Business Insider. Shared employees three people full-time and 12 contract writers, Nabigon said.

Facebook increased its use of artificial intelligence to oversee advertising and other content during the COVID-19 pandemic, and Nabigon is among hundreds of business owners who said they suffered from Facebook's crackdown on ad policies.

The Small Business Administration has extended deferment periods for all of l its disaster loans made either in 2020 or 2021, the agency announced on Monday.

The extended deferment includes the SBAs Economic Injury Disaster Loan – or EIDL – program, which many businesses that did not qualify for Paycheck Protection Program loans or other funding used to bridge the losses incurred during the COVID-19 pandemic.

All SBA disaster loans made in 2020 will have the first payment due date extended from 12-months to 24-months from the date of the note, the agency said. Disaster loans made in 2021 will have a first payment due date extended from 12-months to 18-months from the date of the note.

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Played an interesting practice game last Friday (1/12) evening with one of my fellow DRW chess teammates, Oliver Gugenheim. After my stupendous blunder last week, I'm interested in playing some practice games - both to drill my pre-move thinking process, and because there's nothing like a bad loss to motivate one to start playing again...

Oliver and I wound up exploring a sharp line of the French defense - an opening I have historically not enjoyed playing as white, and so had started learning more about the past week. Oliver (without us discussing it) obliged me by playing a line I had looked at that day so we went a good way into the "book" before (very quickly thereafter) reaching crazy territory.

The most interesting bit tho, is actually black's move: 9. ... f6. The conclusion I got from this analysis, is that 9. ... f5 is better (see below for more) and so this was a useful game for this analysis alone...

All in all, it was interesting to play, and gave me the opportunity to practice the things above... and it gave Oliver a chance to fend off a ridiculous attack (which is always satisfying if a bit scary at times). Here's the game and my notes (Time Control is G30 with 5 second increment):

And so, QED on this idea. My conclusion: better off building an attack here as White's got the ball. Also, for a bishop sac to have any chance, white really needs another piece. Perhaps once the f-pawn were advanced and White has castled, the possibilty of lifting a rook with tempo might be enough to give the sac some teeth. It'd be interesting to see if I can find any Winawer games with a bishop sac on h7 (if I do, perhaps I'll write a follow-up; regardless, looking at how White attacks here should be fun.)

Programmers solve problems. How they solve each problem is a function of their skill, talent, knowledge & time. The resultant solution will resolve the problem with greater or lesser complexity in the design. Thus, I find thinking about how (and more importantly where) complexity is handled, a useful way to evaluate a design. For this I use the time-honored technique of having three levels:

Level Zero

(Below this level, the problem is not solved)

The programmer has provided a solution. However, the interface is a mine-field; click things in the wrong order, the program crashes. Or it works great, but you need to reread the documentation Every. Single. Time. Or the resultant surrounding workflow is a Rube Goldberg device. However it surfaces, the programmer has placed the complexity on the user.

Level One

The interface is well thought out and reasonably intuitive. Controls work as expected and the solution is robust - even bulletproof. The solution not only fits the larger context, it improves it. The code itself however, is hard to change (or even understand). It is not well-organized; Or is, but full of tricky, interleaved logic. Or over-engineered, over-patterned etc. Here, the programmer has placed the complexity on the maintainer.[1]

Level Two

The burden of managing complexity is on the current programmer. The person writing the code takes the time and employs the talent and skill necessary to find an elegant solution that reduces the code to the minimum complexity needed to solve the problem and does so in such a way that is understandable (and changeable) later: The user gains the benefits of a level 1 design, while maintainers are left with clean code to change.[2]

Implications

Level zero code is common; it's the default for new programmers and an uncomfortable amount of commercial software. The thing of it is: Too often this sort of code is derided (including by me) when there is both a de facto and a cost-benefit rationale for managing complexity this way. Short-term projects are one example; software written for one's own use is another.

Level 1 software can be very valuable and enduring. I tend to equate this type of code with the Hacker ethic in all senses of that term. And I don't mean that pejoratively - we all use hacked together solutions every day and much of the world's technology infrastructure is built on it. It is a practical and stable design level.

Having the skill (and the time) to write level 2 code is a rare and wonderful thing. Amidst the hyperbole, aspiring to be such a programmer is at the heart of the "Software as Craft" movement and is a worthwhile goal for anyone who aspires to be a professional programmer.

I don't believe level 2 is inherently better than a level 1 (or level zero!) - it's about context - however, I think that for regularly edited and changed code (i.e. much IT software), this level of skill is what's implicitly expected (if not gotten) by the customer. Ironically, the time needed is often the first thing that goes as a non-technical customer can only assess code quality based on level 1 considerations and so pushes for faster results because everything "looks" OK. Only later - when their investment can't be changed without major overhaul - do they realize there is something wrong. And so the cycle continues...

Summary

This model is handy in several situations including: Judging the quality of an actual solution; choosing among different solutions to a given problem; estimating - and even when to stop refactoring. And while I don't believe that all code should be worked until it exhibits level 2 quality, it is what I want others to think of the code I leave behind. And it is what I hope to encounter in theirs. That said, being a successful professional programmer requires (among many other things) the ability to write all three levels of code, and the judgment to know when each is appropriate to use.

---

[1] This may well be the same person who wrote the code. The essential characteristic of a level 1 design is that complexity is put off to future efforts, not the current one. Thus level 1 designs tend to be high in technical debt.

[2]How the programmer achieves this is a matter of personal preference and technique. I do not subscribe to the notion that any particular set of programming practices provides this - or inhibit it by their absence. It has always been the people, not their practices that is the essential determinant of quality. Anyone who says different, is selling something.

All requested features delivered. Speculation avoided. Mindful of our tendency toward completeness, necessary code is added, unnecessary code is removed. Refactored.

Implementations incomplete - shadows of the their real-world counterparts, yet precisely the functions and properties required. The desire to add more, tempered by the satisfaction of not doing so.

Technique and knowledge are increased to decrease their application.

Simplicity.

I posted that on the WabiSabi page of the c2 wiki on or about October 28th, 2002.

I typically feel the same about my old writing and my old code ("what was I thinking?"), but I like this (even if it is a bit pretentious); especially the line about Technique and Knowledge. It cover many of the forces that need to balanced to ship software consistently.

Happy Friday.