As an article in Newsday notes, however, even the smallest of businesses should consider offering 401(k) plans:

• In fact, thanks to the Economic Growth and Tax Relief Reconciliation Act of 2001, which made changes to the laws governing 401(k) plans, even solo entrepreneurs can now afford to have their own plan…
• Of course, for companies with employees, there are other options: the traditional 401(k), the simple 401(k) for businesses with 100 or fewer employees, and the safe harbor 401(k), explains Carlos Tariche, senior benefits consultant at Chernoff Diamond & Co. Llc, a benefits advisory firm in Garden City.
• While the traditional 401(k) in most cases does not require an employer to make matching or profit-sharing contributions, the other two plans have mandatory annual employer contributions, he says. They are designed, though, to ease the administrative burden on the plan sponsor by eliminating some of the compliance testing required under a traditional 401(k), notes Tariche.

Many small business owners can also qualify for a federal tax credit on the set-up costs associated with setting up a 401(k).

If you are interested in learning more about your 401(k) options, there are a few resources the Newsday article mentions that may help. You can check the Profit Sharing/401k Council of America’s (PSCA) website, a nonprofit advocacy for companies that offer defined contribution programs for their employees.  The U.S. Department of Labor also provides an overview of 401(k) programs for small business owners.

Let us know if you have any tips to share from your experience choosing a retirement plan for your firm.

Reports SustainableBusiness.com:

• The U.S. wind energy industry shattered all previous records in 2008 by installing 8,358 megawatts (MW) of new generating capacity, despite a pull-back that began in the fourth quarter and has led to recent layoffs…
• Denise Bode, CEO of the American Wind Energy Association, said “At the same time, it is clear that the economic and financial downturn have begun to take a serious toll on new wind development. We are already seeing layoffs in the area where wind’s promise is greatest for our economy: the wind power manufacturing sector”
• The industry hopes to recover its momentum if President Barack Obama’s proposals for incentivizing renewable energy are approved by Congress.

The wind industry is especially dependent on subsidies and tax rebates that are set by the federal government.  Uncertainty over how much the government will support wind projects each year has contributed to a cycle of boom and bust for the industry.

Do you think Congress should provide long-term subsidies to wind companies?  Or should the federal government implement a cap and trade system for carbon emissions and let the market figure out which energy technology makes the most sense for America?

Share your thoughts on renewable energy policy below.

Here is an excerpt from the Atlantic:

• You’d have some meaningful tax relief for small business. There’s a lot of discussion about the NOL provisions - net operating losses - which are good. That will help save jobs. There’s a lot of discussion and support for accelerated depreciation. That’s great because that will help spur big business to purchase assets. But that provision itself really kicks in when you purchase [something] over $850,000.
• What about the real small business person? There is only 41 million dollars allocated toward the relief for small business and small business expensing. That’s where we start to look. For every one dollar you allocate for small business tax relief, you’re spending four dollars to replace the grass here in Washington.

Do you agree with Rep. Cantor’s assessment? Should there be more funds for small business relief in the stimulus package?

• In some respects, the venture represents a sweet spot for publishers, who often think of their brands not as magazines but as tools to unite a community around a shared interest. The new publication has a headliner with legions of loyal disciples linked by their devotion to a subject far more profound than home furnishings or celebrity gossip…
• One of advantages of the new venture might be that its founders consider it a consumer product first and an advertising vehicle second, and they say they don’t have to rely on advertising for success. Reader’s Digest will charge $30 for a subscription to its bundle of Purpose Driven Connection-related products that includes a Christian social-networking site to be launched in February.

Publishers are having an especially tough time during the recession. Yet Mr. Warren is as good a capitalist as he is a preacher. He pays little to no income taxes by exploiting IRS loopholes for nonprofits, as reported by The Nation. And there are up to 100 million evangelicals in American who could keep buying into the Rick Warren brand.

Do you think Rick Warren’s magazine venture has a winning business model? Should pastors profit off of their flock? Discuss below.

Reports The Examiner:

• Obama was born in 1961, a Year of the Ox. Four 12-year cycles later, 2009 is also a Year of the Ox, which means this could be Obama’s year — and, in turn, all of ours as well.
• The Ox, according to one astrological source, symbolizes prosperity through fortitude and hard work. It is the sign of a born leader, steadfast, solid, dependable and “possessing an innate ability to achieve great things.” Oxen are tireless workers who never lose sight of their goals and believe in doing things right the first time.

Do you think the Year of the Ox will somehow guide President Obama and the nation back towards economic prosperity? Is it ever worthwhile to consider your horoscope before making a business decision?

Share your thoughts on business astrology below.

Oscar Dios, an entrepreneur in Sweden, thinks people will give his new hostel, which is built out of an abandoned jetliner, a try for the novelty and savings, reports Reuters.

• Dios says it is the world’s first jumbo jet hostel, an actual jet-plane at Sweden’s main airport outside Stockholm which has been converted into a 25-room guesthouse that sleeps as many as 72 people.
• “I learned about this plane that was standing abandoned at Arlanda airport and I’ve been trying the concept of hostels in many different houses and buildings,” he told Reuters. “I thought, ‘Why not a plane?’

The staff dresses like flight attendants and guests have to use airplane bathrooms.

If this hostel were in an airplane that actually went places, maybe then it would sound more like a winning idea.

What is the craziest new venture you have heard about recently?

General optimism has not changed that much since the summer, but the real surprise may be how valued trade is for some small businesses.

• Small-business owners who engaged in international trade were more likely to project optimism. In the first survey, 56 percent of such small-business owners said they expected their company to be in a better economic position in one year, compared with 41 percent of companies that did not trade. In the second survey, 62 percent of small-businesses owners who traded internationally expressed optimism compared to 39 percent of non-traders.
• However, 73 percent of respondents in the survey do not engage in international trade, nor plan to do so. Unfamiliarity with global markets, language barriers and apprehension about preparing customs and other documents were among the main reasons why they aren’t trading across borders.

Do you think that small businesses which are engaged in international trade are better positioned to survive the recession? Share your thoughts below.

According to an article in Forbes, entrepreneurs in the self-help genre have been doing quite well these days.

• Banking, autos, publishing, retail, manufacturing–the recession has hammered them all. But there is one squishy sector that just keeps on growing: the self-help industry.
• Americans spent $11 billion in 2008 on self-improvement books, CDs, seminars, coaching and stress-management programs–13.6% more than they did back in 2005, according to Marketdata Enterprises, an independent Tampa-based research firm that tracks everything from adoption agencies to funeral homes. Latest forecast: 6.2% annual growth through 2012…
• Who buys into this stuff? Mainly middle-aged, affluent females living on either of the two coasts. What are they getting for their money? In a word: hope.

Do you think the self-help industry sells real solutions to people’s problems? Are entrepreneurs taking advantage of the millions of people that are desperate for answers during these turbulent times? Share your thoughts below.

The results, which are summarized in Entrepreneur Magazine, suggest that entrepreneurs are more optimistic than one might expect:

• 40 percent indicate that they have a positive outlook for their business in 2009
• 76 percent said they would maintain their current levels of staffing throughout 2009
• 67 percent said that profitability is the most important priority for them in 2009

Looks like many small business owners still have faith in their firms and are planning on powering through this downturn.

Would you rather work for yourself or work for someone else in this recession?