PROTECTING SMALL BUSINESS, PROMOTING ENTREPRENEURSHIP

Barbara Weltman’s Idea of the Day® Follow-up

By at 7 October, 2015, 9:08 am

Entrepreneurs can stay ahead of the game with  Barbara Weltman’s Idea of the Day®

Entrepreneurs can stay ahead of the game with Barbara Weltman’s Idea of the Day®

Each day you’ll find a new tip for your business in Barbara Weltman’s Idea of the Day®. Here are some of the ones you may have missed during the month of September…and what’s happened since then.

Disaster Recovery

Did you know that 70% of U.S. businesses will lose power at one point in the next 12 months? If your power goes out, a water pipe bursts, or fire destroys your premises, what will you do? Consider using a disaster recovery company such as Agility to provide temporary space, restore power and connectivity, and get you back in business. There’s a monthly membership fee based on your company’s size and needs.

Follow-up: The wildfires in California and other parts of the West Coast as well as flooding in South Carolina and other parts of the East Coast in the past month should prompt you to review your disaster recovery plans, including your insurance coverage.

 

Cyber Security Concerns for Small Businesses

According to the August 2015 SurePayroll Small Business Scorecard, 60% of small business owners are taking extra measures to protect their business and customers against cyber security threats. What’s more, 85% would inconvenience customers if it meant better protections for the company’s products, services, or website.

Follow-up: October is National Cyber Security Awareness Month, and the SBA has launched resources to help small businesses be cyber safe. SBE Council is a partner is this important national campaign, and has catalogued additional resources and best practices in this Business Success Strategies blog post.

 

Credit Card Processing on Your iPhone

Flint allows you to process credit card transactions on the fly; no card reader is required. Cost for scanned and keyed in payments: 1.95% for debit cards; 2.95% for credit cards.

Follow-up: Liability for in-person processing shifted on October 1 to merchants who fail to process payments using chip (EMV) technology. Retailers, restaurants, and other small business owners should upgrade to EMV if they have not already done so (gas stations have a little more time). Find more information about EMV in my blog on Getting Ready for Chip Cards Revisited. 

 

Affirmative Action Revisited

President Johnson’s Executive Order 11246 ordered federal departments and agencies to impose non–discrimination and affirmative action rules in all federal contracts and federally–assisted construction projects. The DOL posted a history of this Executive Order.

Follow-up: Affirmative action continues to draw attention, with the U.S. Supreme Court agreeing to take another look at affirmative action in college admissions in its 2015 term that opened on October 5, 2015. Some believe that a court decision could end affirmative action in college admissions; would this carryover to other areas such as federal contractors?

Barbara Weltman is a member of SBE Council’s Advisory Board, and provides complimentary resources to small business owners and entrepreneurs through various platforms.  She is the publisher of Idea of the Day® at BarbaraWeltman.com.  Barbara also co-hosts Business Leaders radio. Follow Barbara on Twitter @BarbaraWeltman. 

 

 

 

 

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