Are you considering taking the plunge in 2016 and starting the small business you’ve been dreaming of for years? Perhaps you have been a business owner for quite some time but feel you need to tweak some areas in your management style. Whatever your situation is, MaxFilings is here to keep you informed on the latest economic issues, entrepreneurial ideas, management tips and laws that may affect your small business.
Below are some basic highlights in business news for this first month of 2016.
Economy and Market Updates
- Although the Feds have concerns over weak global growth and unstable financial markets, they announced their plans to continue moving forward with gradually raising interest rates.
- A survey conducted by CNN Money determined that 56 percent of Americans are pessimistic about the economy and believe their children will be worse off in years to come.
- A trillion dollars has vanished from the stock market, as January has been a devastating start for Wall Street. CNN Money states that China’s slow down and plummeting oil prices have caused the DOW and S&P 500 to have the worst trading start on record.
- Read three reasons why some feel the stock market may be headed for a crash in 2016.
Entrepreneurship
- Learn how the Ice Castles founder, Brent Christenson, turned an off-season hobby into a profitable business adventure through his determination and entrepreneurial spirit.
- Psychologist Carol Dweck has spent her entire career studying attitude and performance and has concluded through her latest study that your attitude is a better predictor of your success than your IQ.
- Organizing your digital data, label machines and a clean work environment are a few of the tips suggested to organize your workspace and become more productive in the working world.
Business Management
- Small businesses may benefit from outsourcing certain technical tasks, not only saving money but boosting productivity by being able to focus on other matters such as customer service, sales and their employees.
- Small businesses will receive a tax break on buying office equipment up to $500,000 in what is known as the section 179 deduction. This allows qualifying capital items to be written off immediately on business taxes as opposed to writing off depreciation over the years.
- Forbes discusses how Facebook turned its greatest advertising weakness into its greatest strength and ended the year by posting a $5.64 billion revenue in advertising dollars in the fourth quarter.
- Read how Wage and Hour Insights believes that keeping detailed records of your small business employees is fundamental. It could help you avoid issues with complaints of wage and hour violations when you receive a visit from the department of labor. As they say, “Just don’t lose the notebook.”
Business Law
- On January 5, New York City’s mayor signed an important bill that prohibits discrimination against an employee’s perceived or actual status as a caregiver. The bill will come into effect in May of 2016.
- Review the following regulatory issues that could affect how businesses pay their employees in 2016 including changes in overtime rules and paid sick leave.
That has been our business wrap for January of 2016. We hope you ‘ve learned some valuable information to help you manage your small business. We sincerely wish you the most success for your business in this new year. If you are considering incorporating your business in the U.S., Maxfilings.com can help each step of the way!