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Small businesses created 65 percent of all new jobs in recent years

NH SBDC — 2010-03-12T13:12:00-05:00

According to the Office of Advocacy at the Small Business Administration, small businesses created 65 percent of all new jobs in the private sector in the United States over the last 15 years. The data comes from a new report, “An Analysis of Small Business and Jobs”.

Many of the new jobs are in new business start-ups, but a larger share come from established firms in the 20 to 499-employee range. The data show that from 1993, 31 percent of net jobs gained came from new establishments and the remaining 69 percent came from existing firms of all sizes that expanded. During this current economic downturn, firms with fewer than 20 employees began losing jobs in the early second quarter of 2007. Until the second quarter of 2009, these smallest firms accounted for 24 percent of net job losses, while the larger firms accounted for 36 percent. The remaining 40 percent were in the very largest firms of more than 500 employees.

See the full report here: http://www.sba.gov/advo/research/rs359tot.pdf

More about the Office of Advocacy: www.sba.gov/advo.

Virtual workshop from IRS can help with small business tax preparation

NH SBDC — 2010-03-09T09:05:59-05:00

The IRS’s has put up a Virtual Small Business Tax Workshop online to help new and long-standing small business owners learn about their federal tax rights and responsibilities. The online workshop is also available in CD format. The workshop contains 9 lessons that can be taken ala carte and in any sequence, so that users can customize their experience based on their needs. It can be taken at any time. The IRS says this workshop is the first in a series of video products that the agency has designed for small business taxpayers. The IRS expects to release “Your Guide to an IRS Audit” some time later this year.

Businesses owners can meet directly with heads of NH state agencies March 19

NH SBDC — 2010-03-02T13:24:01-05:00

New Hampshire’s Governor John Lynch has announced that his state agency heads will be available at a series of business outreach sessions to give business leaders a chance to hear from and question them. The first session will be Friday, March 19 at 7:30 a.m. at the Courtyard Marriott in Lebanon. Another session is planned for April 16 in Laconia, and more will be announced soon.

Attendees can ask the state agency heads about regulations and make recommendations on how to improve state government. State commissioners present at these sessions will include those from the Departments of Employment Security, Resources and Economic Development, Labor, Insurance, Environmental Services, Administrative Services and Revenue Administration, along with officials of the Community College System of New Hampshire.

Call them the "homepreneurs"

NH SBDC — 2010-02-23T12:26:00-05:00

They are the people who have created home-based businesses. They account for more than half of all the businesses in the U.S. And they employ more people than venture-backed companies.

According to a BusinessWeek.com account, the rise of home-based businesses can be traced to the early days of telecommuting in the 1980s and the mass adoption of the Internet in the 1990s. Cloud computing (think Google Docs), online collaboration, and smartphones have accelerated the trend.

Beyond the technical aspects, according to the BusinessWeek.com story, is the greater acceptance of the legitimacy of a home-based business.

You don't necessarily need an office. Homepreneurs meet clients at their offices or at coffee shops, and -- when there's a need -- most areas have on-demand office space, where a conference room can be rented by the hour. Certainly, that makes for lower operating costs.

The BusinessWeek.com story cited a 2006 study by the Small Business Administration that compared tax returns of homepreneurs who deducted home-office expenses with those who deducted commercial rent. The SBA found that home businesses, on average, had lower sales and net profits than companies in commercial spaces, but the profitable home-based ventures retained a greater share of their total receipts as net income: 36 percent vs. 21 percent for non-home-based businesses.

The trend of home-based businesses is seen as continuing to rise, perhaps doubling within the next 20 to 30 years.

State, UNH launch Green Launching Pad for commercial environmental projects

NH SBDC — 2010-02-22T10:54:00-05:00

The University of New Hampshire and the New Hampshire Office of Energy and Planning have just announced a new initiative, The Green Launching Pad, designed to use UNH resources to help launch new "green" businesses in the state. The Green Launching Pad will connect entrepreneurs and private industry with the technical, scientific and business faculty and staff of UNH, with a goal of creating a competitive green energy technology commercialization program. Teams working on a project will receive up to $90,000 in funding. Project selection will be competitive and must be in the areas of energy efficiency, energy conservation, renewable energy, and/or sustainable energy--those that will quickly lead to energy savings, emissions reductions, and business and employment growth. Pre-proposals are due March 15. This link takes you directly to the pre-proposal information.

The new businesses would be required to help the State achieve the objectives of the NH Climate Action Plan with an emphasis on reducing carbon emissions in sustainable ways while creating new jobs and contributing positively to the state’s economy. A series of seminars are being held for interested parties. Consult the website for event details.