The rising cost of living can often propel the need for insurance to cover any unforeseen contingencies or losses. Increasing cost of living can imply that the average income required by an individual or a family unit is also increasing, thus escalating the need for Income protection insurance.  This ensures that in the rare occurrence of the loss of income of the primary bread earner (due to illness or injury), the minimum income needed for the sustenance of the individual or the family continues to flow in.

In addition to income protection insurance, life insurance and health insurance, we have generally realised and accepted the need to insure material possessions as well. For this reason, it is very common for an individual to spend their hard-earned money to pay the premiums for home and contents, caravan, boat and car insurance.

Whenever we talk of Personal Insurance the first thing that often comes to our mind is Life Insurance. Life Insurance refers to the kind of policy which pays out a lump sum to the nominated beneficiary in the event of death or terminal illness of the policy holder. This sum of money can be critical for the financial security of the dependents of the policy holder.
Every individual during their lifetime tries to earn the maximum possible for themselves or their family and strives to provide the best material comforts that money can buy. A booming business is not an assurance of security for people you will leave behind, especially if none of them take an interest in taking over the company once you are gone.
We do not want to deprive our dependents of these material comforts even when we are not around and for this reason, adequate Life Insurance coverage becomes imperative.
There is no simple answer as to how much Life Insurance cover can be considered enough. Although the amount of Life Insurance cover required varies from one individual to another, the amount of debt that the individual has accrued in their lifetime is often be the basis to calculate the total Life Insurance cover required. To this, you can add the cost of education of dependent children, healthcare requirements and most importantly, an average estimate of monthly household expenses.

The following steps could prove useful in calculating your total life insurance requirement:
1.    Add up all personal assets, such as property (if any), shares, bonds, fixed deposits, savings  and existing life insurance (if any). This summation is denoted as “A”.
2.    Add up all debts, such as home loan or mortgage, personal loan, car loan and credit card debt. This total is denoted as “L”.
3.    Add up approximate cost of education of your children, cost of marriage of your children, approximate funeral expenses and approximate estate expenses. This summation is denoted as “C”.
4.    Calculate a ballpark Insurance cover by the following simple formula->Total Insurance Cover = (L+C)-A

Another simple way of calculating how much life insurance is enough to ensure the future of your family is to total your average monthly household expenses for the last 12 months and multiply it with your remaining work life. Insurance cover = Yearly Household Expenses * Years till retirement.
Just as there is no simple answer to the question “how much insurance is enough”. Similarly, there is no standard answer to the question “how much will life insurance cost”. The premium payable for Life Insurance depends on a larger number of factors such as type of life insurance plan selected, amount of life insurance coverage applied for, age and sex of the policy holder,  general health conditions and past medical history of the policyholder as well as your immediate family,  choice of physical activities and hobbies, intention to or record of foreign travels, along with some other factors as well, which vary from one insurer to another.

Whatever life insurance policy you might choose, it could certainly help to support dependents into the future so keep growing your business and consider investing a portion of your earnings in the security of your loved ones.
–

This guest post was created by Lynette Argent at Million Dollar Woman. Million Dollar Woman is an Australian insurance brand offering Life Insurance products designed to meet the unique needs of women.

But what is public liability insurance?

Basically, it provides cover for your business against any claim made by a member of the public who have received injuries or damage to property – for example if they slip on a wet floor. It’s meant to compensate for loss of earnings, future loss of earnings or any damages awarded to the claimant. It will also cover your legal costs and the claimant’s legal costs should you be found at fault.

Claims can be made even as a result of an accident whether on your premises or outside of it – think of sales or construction site visits. Some clients and customers will require proof that you hold this insurance before they decide to work with you – local authorities in particular commonly ask whether you are covered so take this into consideration when deciding whether to take the plunge and buy.

Some everyday businesses that require this type of insurance are:

• Shops
• Office and Surgery
• Restaurant and Pub
• Sometimes even sports insurance is required!

The amount of cover you need will vary according to the type of business you’re running as well as other factors. Make sure you do your research – most small businesses will require about £1m of cover but in some circumstances you may be required to take out more. If you’re not sure what to look for, try comparison websites for the best quote.

First of all, you can find inexpensive office furniture storage. If your business needs require you to find extra space to keep surplus inventory, a long term storage facility could be the affordable answer that’ll keep you from having to pay higher rent for adequate space. Depending on the facility you choose and its distance from your business, you could actually land a pretty sweet deal.

Second of all, you’ve also got to consider how much it’ll eventually cost you to replace that desk once you’ve moved to a bigger facility further down the line. Don’t be afraid to do the math. Storing a $1000 desk for $20 per month will only run you $240 a year, but throwing it away now is a guaranteed $1000 replacement bill later on. So weigh your options carefully before you start tossing furniture overboard. Once it’s gone, you can’t get it back.

Lastly, not every business owner stays in the same place forever, but often one of the contributing factors to staying in the same place for far too long is the high cost of moving your equipment and merchandise. By keeping it all at a central storage facility, you have the freedom to move your operation to a more visible or financially viable location.

It is also important to remember that most storage facilities include top of the line security systems that guarantee the well-being of your inventory.

Below are other items to consider storing that will help reduce office clutter:

• Retail products and excess, non-perishable inventory
• Seasonal office decorations
• Office supplies, which provides a way to buy in bulk and save more money on this business expense
• Computer hardware, including monitors, laptops, and keyboards
• Oversized marketing materials, such as banners, trade show booths, and signage

Needless to say, there are restrictions that dictate what you can and can’t put into a storage facility, thus the type of business you’re in will greatly impact your ability to use a rental unit for inventory storage. Typical lists of things you can’t keep in self-storage include, but aren’t limited to: guns and ammunition, chemicals, and food.

When storing these types of items in a business storage unit, take pictures and maintain a running inventory of what is stored at the office to ensure nothing goes missing or to know when to reorder certain items. So next time you are considering moving, or throwing out extra office furniture, remember these tips and consider renting a self-storage unit instead.

This article was written by Matt Schexnayder. Matt is on the SpareFoot marketing team and writes for the SpareFoot blog. SpareFoot is the largest online marketplace for self-storage with more than 5,000 self-storage facilities listed nationwide. SpareFoot offers consumers the most complete comparison shopping experience in the storage industry and has been a big part of the national moving and storage industry for over 3 years.

You have come up with a killer business idea.  You have identified a hold in an existing market, and you believe that your product or service idea can fill that void, and, in return, make you some money!  One of the first challenges that many entrepreneurs face when starting a business is determining whether they should partner with other people, and, if you are going to partner with others, then how do you establish ownership?  Let’s tackle the answer to this question in two parts—choosing a partner and ownership interests.

Pros of a Partner

Depending on the complexity of your business model, a partner may be a requirement.  No matter the situation, though, a good partner will significantly increase the amount of productivity you can accomplish in a given period of time.  Therefore, if the success of your business launch has anything to do with “a race to market,” then a partner may be essential.  A partner will also help reduce the amount of stress you are under, and this can be incredibly valuable to the company, as it will free you to be more creative and productive.  If you have a hard time securing a bad credit business loan, a partner may be able to bring capital to the table.

Cons of a Partner

There is an old saying, “Never go into business with someone you would not marry.”  This is so true.  In the early stages of ideation and business launch, the fiery passion of entrepreneurial vision can make situations and people look beautiful, even if they actually look like Frankenstein’s mother!  Don’t let the incredible positivity of a new idea lead you to prematurely partner with people you don’t know that well.  If anything, write out an agreement that stipulates a trial period where expectations are clearly communicated and agreed-upon.  This single step of carefully considering partners can be the difference between a dream company and a nightmare.

Ownership Interests

This is tough.  First of all, there are so many attributing factors to consider when determining ownership interests, such as who came up with the idea, who has the skill set to execute, who is putting in the cash to make it happen, etc.  Since there are so many possible outside factors in this discussion, we are going to instead focus on a guiding principle.  If at all possible, do not issue any ownership interests in the launch phase of the company!!

If you form an S-corp entity, you will be able to hold shares in Treasury.  As the owner of the company, it is best to hold nearly all of the company shares in Treasury.  Perhaps issue a 1% ownership interest to your partners, and tell them they will be able to accrue more ownership after the first 6 months of company operation.  The reason is simple.  There will most likely be a weak link or maybe several, and you do not want these weak links to be holding a substantial portion of your company.  The problem is that, unless you have extensive personal experience with an individual, you will not be able to identify the weaknesses until you have 6-12 months of working experience together.

Remember the golden idea—you can always issue more ownership, but you can never take it back.  This is so important.  If you have bad credit, consider applying for a bad credit business loan.  If you cannot qualify, then you may have to give up some ownership in exchange for cash infusion.

If your potential partners demand more ownership to come on board initially, then consider setting up an agreement where they accrue ownership interest over a given period of years, based on them meeting specific performance standards.  If they meet the standards each year, they accrue more ownership.  If they do not, then you know that you have them capped and will be able to protect that ownership interest.

–

Jason Hoerr is a writer, entrepreneur, and trader based in Charlotte, NC.

Right now, renting desk and office space is proving to be increasingly popular with all sorts of people running or starting up businesses, from freelancers through to organisations with multiple employees. For the one-man band, or start up, this can be a great route to take as it is highly flexible and convenient. Many desk space rental deals are short term, have little in the way of contract complexities and are generally on a rolling basis.

Granted, renting a desk in a shared office is fairly short on frills, with just the desk, a chair and broadband Internet usually being the only things that’ll come as part of the package. Nevertheless, if you have a laptop and need a place to work outside of the home then this can be a great route to take. Better still, many of these deals are in prime locations too, such as city centres and purpose-built business parks.

Adding to the appeal of the prestigious surroundings is the fact that you’ll also instantly get an impressive postcode too, which will look great on your letterheads and newly unveiled website. Desk space rental also means that you’ll be much better placed for networking too, as it’s much easier to have people drop in if you’re in the centre of town, rather than being stuck in a spare bedroom, study or even the garage at home.

Of course, if you’re starting out in the world of business then keeping your overheads to a minimum is a big part of the package, but thanks to the recession that continues to roll on, rental costs are actually better than you might think. In order to find out what the average going rate is, use a comparison website.

These work in much the same way as online comparison outlets that enable you to compare and contrast broadband and mobile phone deals. It also means you can get an idea of what is available and also pick a location that is sufficiently convenient for your needs. You never know, with a little bit of homework and some careful analysis of available deals, you may well find that renting a desk could be the best thing you’ve ever done.

One thing is for sure; no matter what location you end up choosing, another added benefit of the desk rental scheme is that there’s no cleaning up to be done at the end of the day. And, as for putting the Hoover around, then the landlord takes care of all those duties, which is probably a lot more than can be said if you’re currently working from home.

About the author: Rob Clymo writes on behalf of www.officegenie.co.uk, the UK’s first proper online marketplace for desk space and shared office space.

While the higher construction bonds protect homeowners against shoddy work, they have left many homebuilders out of work. Only about 15% of the city’s 2,500 contractors had been able to secure a higher bond to remain eligible for work after the new requirements were announced. Contractors with less than perfect credit scores or unsettled claims against them will have a much harder time being approved for the $50,000 bonds, which cost the construction companies anywhere from 1-15% of the bond amount, approximately $500-6,000.
Construction companies well established in the community with a reputable business history should have little to no problem continuing to operate in the area. The companies who are most hard hit are the new firms with little start-up capital. Advocacy groups say this move will reduce competition in the construction market and discourage new companies from building in the area. The $50,000 bond requirement is the highest amount required in Texas, possibly encouraging some contractors to operate elsewhere.
So, city officials say raising the bond requirements is good, construction workers say it’s bad, but what about the residents? Determining a bond requirement always balances the responsibility of the construction company with the protection of the residents or clients. For the most part, raising bond rates ensures El Paso residents that they will be covered if they receive faulty work. Is $50,000 enough though?
What residents need to realize is that while $50,000 sounds like a lot of money, it is the amount of coverage a contractor receives for their entire year’s work. If one contractor builds one bad roof, the $50,000 will provide plenty of coverage. However, if one contractor builds two or three or even five bad roofs, the $50,000 will not cover all of the damages.
Over the next few months officials will watch and see how the new requirements affect the construction market and how new claims are handled. To learn more about construction bonds, visit our Contract Bonds page or Contact Us for more information.

D.Offer writes. Offer is a Director of Emoinstaller a Facebook emoticon project. Emoinstaller allows you to use additional Facebook chat emoticons in your IMs. Emoinstaller provides 900 + high quality Facebook emoticons for your Facebook account.

As most successful business owners know, cash flow is one of the most critical factors in determining the success or failure of a company.  It can both give and take away the flexibility and control necessary to properly manage a business, whether that company might be large or small.  Cash flow can be defined, at its most basic level, as cash coming into a business minus cash going out, during a specified period of time.  It is important to note that cash flow does not include receivables, which is money owed to the business by others, but not yet received.  However, once received and deposited, receivables become part of the cash flow.

As a measure of liquidity, cash flow, or more precisely stated, consistent and accurate evaluation of cash flow, can lend tremendous insight to any business owner about not only the current condition of their company but, also, the probability of certain potential future states of their company.  Cash flow evaluation allows for the educated consideration of various, “What if…?” speculations.  Cash flow is one of the primary areas evaluated by prospective investors during their due diligence prior to issuing a loan to, or pursuing an acquisition of, any business.  If most investors find value in the results of such evaluations, most business owners will as well.

So, what critical business information can be gleaned from the careful tracking and evaluation of cash flow?  The answer to this question depends on just how deep one is willing to dig into the data and what value may be found in the minutiae.  Most small businesses will do more than fine by simply paying attention to the basics of their cash flow and running a few easy calculations.  Therefore, running complex algorithms and hiring doctorate level mathematicians is well beyond overkill for most businesses in this size category.  For most, it gets down to what that last percent of efficiency is worth and how much it will cost to find it.

Going global however is about a lot more than merely establishing a foreign branch office. It has much to do with shaping the future course of the business, identifying and capitalizing on prospective opportunities and gaining access to markets and manpower otherwise unavailable in the country of origin. China, once closed to the rest of the world as an isolated middle-kingdom, is currently home to global manufacturing companies. India, once a vassal colony, is today the software, IT and BPO hub of the world. Turkey and Qatar – not countries in most people’s minds as business destinations – are amongst the top go-to places to establish new businesses. The world as we know it is shrinking and with a few tips, you too can ride this wave.

1.    Think global, act local
Any business that hopes to go global needs to be aware of cultural sensibilities. Local cultures, behaviour and even languages vary greatly across the world and being aware of exactly what applies in the destination country is critical to starting off on the right foot. While macro-economics may determine policy direction, it is the softer-skills and ‘finger on the pulse’ of the local marketplace that will spell the difference between a lukewarm response and a roaring success.

2.    Cut the cloth to suit the coat
Any successful business is keen to replicate its success model. Things, however, do not work the same way worldwide. While in some parts of the world business operations are process oriented, in others they’re laid back. Still others thrive under chaos, while some can only bloom in ideal conditions. What is important, however, is to come in with a plan, but be able and willing to make allowances for the local modes of operation. This will ensure that while the macro business objectives are met, they are met in a well-managed and carefully-structured manner.

3.    Invest in local talent
While it may be tempting to export familiar resources to your overseas office, it pays to invest in senior local talent. In addition to coming with existing connections, the local resources will also provide your growing business with a familiar face that will go a long way in consolidating your overseas presence. Further, this person will also be well aware of all local formalities (and how to work around them), which will be invaluable to a new business in the initial stages.

4.    The web that binds us together
While the internet may by definition be global, it is critical to present a localized face to your audience in the destination country. A website with Americanized spelling for instance will not bode well for the UK market, while failure to present translated content for Spanish, German or French markets may hide your business in a blind spot. Search marketing too offers myriad possibilities for optimization in local languages, which would prove too expensive or too difficult to undertake in English (while getting you far better return on investment).

5.    Invest in local media
When entering a new market, one of the best investments you can make is in the local media. The sooner your business name and activities are out in the open, the earlier you will start getting new clients. Observing local media will also let you know more about your competition, the general lie of the land and the health of the marketplace. Go broad and go deep for ultimately your success is a factor of how well you know and are known in the market.
With enough preparation, proper planning and the right utilization of resources, there is no reason why you too cannot take your business global. Do remember however that you need to persevere. Things may not go perfectly according to plan and there may be the inevitable glitches and delays. But the right attitude, right approach and right strategy will always help you triumph in the long run.

About the author

Christian Arno is the founder and Managing Director of global translation company Lingo24. Launched in 2001, Lingo24 now has over 130 employees spanning four continents and clients in over sixty countries.

Contact Lingo24 with a translation or localized marketing request before 31 April 2011 and receive a 10% discount on your first order.

Round 1 – Idea Concepts

• Register
• Post your idea
• Vote & Comment

Round 2 – Semi-Finals

• 100 Semi-Finalists will be announced on March 1, 2011
• 100 Innovators selected to apply for the StartingBloc fellowship will be announced on March 1, 2011
• Semi-Finalists paired with Mentor to advise on venture plan
• Weekly Semi-Finalist conference calls available for insight and advice from the DSIC team
• Semi-Finalists submit a detailed venture plan by April 1, 2011

Round 3 – Finals

• 5 Finalists will be announced on April 15, 2011
• 20 Semi-Finalists for Semi-Finalist Fellowship Program announced on April 15, 2011
• Finalists are flown to Austin, TX for Finalist Week-End and Award Ceremony on May 16, 2011

Read more here.

You can register here.

This year’s theme is “Live well, Learn more, Inspire others”. We all know the importance of learning and the power of inspiration. This unique conference includes distinctive speakers, instructive sessions and exciting networking opportunities.

The conference will have three tracks: Entrepreneurship, Professional Development, and Community Enrichment. There will be over 10 concurrent sessions that will fall under these tracks, as well as over 30 exceptional presenters.

Registration is ongoing at: http://www.nationalwomensconference.com/Illinois/.

Dr Ahmed said, “We are delighted to have won this community award which recognises the contribution of our innovative business to the Somali diaspora. Winning this award as well as the prize we won at the prestigious London Business School business plan competition in May 2010 is a fantastic accolade for our business and our team.”

Traditionally migrants used to send money home through “hawala” agents which meant withdrawing cash from a bank, taking time off to visit an agent, queuing up to hand over cash, and presenting identification documents. Up to 90% of transfers are $100 or less, but on average it takes up to one hour to travel to and from an agent location. In some cases the travel costs of those who don’t live near agents are more than the amount they send.

Now, using a variety of payment options including debit and credit cards, customers can send money to family and friends from the privacy and convenience of their own home or office without the need to queue up at an agent location.

WorldRemit currently offers money transfer to 25 countries. Recipients can receive money either by collecting cash from one of the many pay-out locations or directly in their bank or mobile phone account.

In the first nine months of 2010, the bank loaned a total of $71.2 billion to small and medium-sized businesses — those with less than $50 million in annual revenues. That amount represents an increase of $12.6 billion over the same period last year.

Last December, Bank of America pledged to increase lending to small and medium-sized businesses by $5 billion in 2010. The company loaned $81.4 billion to those businesses in 2009.

“In this challenging economy, small and medium-sized businesses are vital to the nation’s ongoing recovery. Without their help, creating new jobs will continue to be a challenge,” said David Darnell, president of Global Commercial Banking for Bank of America. “While we continue trying to make every good loan we can, demand for new credit among smaller businesses remains limited. Business owners instead have told us their greatest need is more demand for their goods and services.”

In addition to lending, Bank of America has launched several initiatives to help small businesses. Earlier this month, the bank announced it will hire more than 1,000 small business bankers by early 2012. The bank also has pledged to increase its spending with small, medium-sized and diverse businesses by purchasing $10 billion in products and services from those suppliers over the next five years.

Bank of America this summer launched a $10 million grant program for Community Development Financial Institutions (CDFIs) and other nonprofit lenders, aimed at unlocking $100 million in low-cost, long-term capital for small and rural businesses. As of September 30, the bank had awarded $3.7 million in grants that allowed CDFIs to access nearly $27.5 million in lending capital. Bank of America is the nation’s largest lender to CDFIs, with more than $1 billion in loans and investments to 120 CDFIs in 37 states.

Next week, Bank of America will release its Lending and Investing Initiative report for the third quarter of 2010, which outlines the credit extended in areas critical to the nation’s economic recovery. In addition to small business lending, the report will detail residential mortgage activity, home loan modifications, commercial and corporate lending, and financing to CDFIs. The report will be available at http://bankofamerica.com/opportunity.

“Global Entrepreneurship Week has become a worldwide celebration of entrepreneurship, with an expected 10 million people participating this year, thanks to these partners,” said Carl Schramm, president and chief executive officer of the Kauffman Foundation. “The organizations participating in GEW are responsible for transforming lives by sparking entrepreneurship among people of all ages and from all walks of life.”

Global Entrepreneurship Week events are diverse and creative, including virtual and face-to-face activities, large-scale competitions and intimate networking gatherings. A list of activities can be found on the interactive activities calendar on this website – www.gewusa.org/event-central – where visitors can search by keyword or location.

Every U.S. state is participating in Global Entrepreneurship Week in some way. The most active states are: California (106 partners); Michigan (100 partners); Pennsylvania (63 partners); Massachusetts (53 partners); New York (53 partners); Texas (52 partners); Florida (46 partners); Tennessee (46 partners); Missouri (44 partners); Ohio (43 partners).

Organizations supporting Global Entrepreneurship Week/USA include DECA, JA Worldwide, The Entrepreneurs’ Organization (EO), Network for Teaching Entrepreneurship (NFTE), National 4-H Council, National Association of Secondary School Principals (NASSP), Collegiate Entrepreneurs’ Organization SM (CEO) and National Association for Community College Entrepreneurship (NACCE).

For more information on plans for the Week throughout the United States, visit www.gewusa.org. To view a complete list of participating countries and organizations, or to learn more about what is happening around the world during the Week, visit www.unleashingideas.org. Click here to view a video.

While the TiE20 winners are diverse in terms of size, progress, maturity and location, they share a common thread of innovation, ingenuity, strong management teams and overall quality of ideas. “The Detroit chapter of TiE introduced TiE20 Midwest Industry Awards last year to great success that gave increased visibility and connectivity to our winners. This year, we have received an overwhelming response,” say Mateen Syed and Luxmi Dutt Sharma, TiE20 Chairs.

“TiE20 winners represent the finest in entrepreneurship and serve as role models for all entrepreneurs aspiring to success in a demanding marketplace,” says Tel Ganesan, TiE Detroit president.

The TiE20 judging process includes meticulous planning, screening and judging by prominent entrepreneurs, venture capitalists, corporate executives and other experts. TiE also acknowledges the nominee companies and those who contributed to the TiE20 selection process by publicly voting for the finalists. Over 1,000 votes were cast for 40 finalists in a little over two weeks, helping to narrow the field down to 20 winners. TiE20 winners will present their companies in a live showcase over the course of TiECon Midwest 2010, on Oct. 28 and 29. In addition to being featured at the event, winners also receive ongoing support throughout the year.

TiE20 Winners 2010

Internet Category

AdaptivePortal (Minneapolis, MN)

BodegaBid (Ann Arbor, MI)

Ergun Technologies / OwnPos (Ann Arbor, MI)

InXero Inc.(Austin, TX)

Joomag (Calif.)

Media Category

Dingora (Bloomington, IN)

DSLMi (Ann Arbor, MI)

Learning Interfaces (Grand Rapids, MI)

Metro Woman (Rockwood, Mich.)

Michigan Film Reel (Grand Rapids, MI)

Mobile Category

App Discover (Redwood Shores, CA)

Bipper (New Jersey & Norway)

GoPoint Technology (Rochester Hills, MI)

MacroView Labs (San Francisco, CA)

Waze (Palo Alto, CA)

Software Category

ERT Systems LLC (Ann Arbor, MI)

OntoMed LLC (Ann Arbor, MI)

Ordered List (South Bend, IN)

Shepherd Intelligent Systems (Ann Arbor, MI)

Zferral (Royal Oak, MI)

Online registration and more information are available for TiECon Midwest 2010 at http://www.tieconmidwest.org/.

Women entrepreneurs are critical drivers of economic growth. In the United States, women are starting businesses at nearly twice the rate of men. But, while women own about 40% of US businesses, only about 5% of all equity capital investments in the US go to businesses headed by women, and just 3% receive venture capital funding, according to Babson College research.

These statistics highlight the importance of programs like Ernst & Young’s Entrepreneurial Winning Women, which was launched in 2008 and is conducted in collaboration with several organizations that empower women-owned businesses, including the Women Presidents’ Organization, Women’s Business Enterprise National Council, The Committee of 200 and Babson College’s Center for Women’s Leadership.  For more information on the program, visit www.ey.com/us/entrepreneurialwinningwomen.

“Over the past three years, the Entrepreneurial Winning Women program has grown into a highly competitive platform to help exceptional women entrepreneurs accomplish the key goals they have for their companies,” said Maria Pinelli, Americas Director, Strategic Growth Markets, Ernst & Young LLP.  ”We’ve seen some real magic take place when these high-potential women gain access to the right business networks, insights and knowledge resources they need to grow their businesses.”

Sponsored by Bord Bia in association with the South-East County and City Enterprise Boards, the competition is aimed at encouraging a young or start-up food company to bring an innovative new idea to fruition.

The best proposal will win a prize amounting to €25,000. This will comprise €15,000 for consumer research and €10,000 for design, branding and packaging.

Entries should be sent to Waterford County Enterprise Board by 15 November 2010. An expert panel of judges will decide the winner, who will be announced on 13 December 2010.

Read more here.

If you think you are too small to be targeted by cyberattacks then you are wrong. Virus programs don’t do discrimination on the company size. Maybe you think that you got nothing to lose, nothing of value? Think again, your small business can be affected in more ways than stealing information:

• sending spam to your customers via kacked email accounts
• accessing online banking accounts
• destroying valuable documents like invoices
• privacy invasion
• and many more.

Back in the days, the best you could have was an antivirus. Nowadays you can have complete solutions that take care of most of the security issues without the need to have specialized personnel onsite – so that’s cheap and easy to have. So, if you are a small business owner I recommend you search for a complete security package instead of having more solutions for each risk. I’ve picked one for you: Bitdefender Total Security 2011. It was actually a nice surprise to see how the security products have evolved in the last 5-6 years – it’s now got to basically to set and forget about it. Let me get you through the setup steps – it’s very easy.

Installing Bitdefender Total Security 2011

• download a free trial of Bitdefender Total Security 2011 from here www.bitdefender.com
• start the installation (usually by double-clicking on the downloaded file)
• after a quick scan to check the current status of your system, Bitdefender asks you to turn off Windows Firewall and Windows Defender. That’s a good idea, as Bitdefender does all this – so you can manage everything from only one place and avoid conflicts:
  
• Create a new account on the Bitdefender site: this way you can manage the online backup system and get support easier.

• Choose the installation type: go for the easy setup – you can access the advanced settings later if you feel like.

• A few interesting settings: laptop mode and game mode – they basically don’t let Bitdefender run any intensive actions while you are running on battery or playing. Parental control – ideal if you are a mom running a business from home!

• Plenty of features come with the Total Security solution: antivirus, antispam, firewall, chat encryption; it also helps preventing phishing attacks and identity theft – Bitdefender will evaluate the safety of the sites you are browsing and warn if the page is un-safe.

Bitdefender Total Security 2011 features

• This is the advanced dashboard where you can make your own settings;

• Antivirus management

• Antispam – works together with your email client

• Privacy control: just a few basic and self explanatory settings

• Firewall – preventing un-authorized access to your machine via the network

• Vulnerability scan: some programs you are normally using are knowing for being vulnerable to various forms of attack

• Backup – that’s really cool, you can backup your files locally and even online

• Chat encryption: if you are using yahoo messenger or Windows Live, the messages are sent in plain text. With the encryption the information will not be available to third parties

• Tune up your system: not only that it secures the machine but you can actually monitor what resources the applications are using!

• Laptop more: a life saver if you are traveling and use the battery

What I especially liked at Bitdefender Total Security 2011

You can set and forgot about it: if you don’t know how to handle the advanced settings or simply like not to be bothered with, you can simply switch the dashboard to Basic view – same security, less to worry about it.

• Laptop mode: can’t think how I lived without it until now!
• 2 GB online backup – very handy and it doesn’t cost extra
• Tune up tools – you can defragment your system, repair the registry and many more from the same tool
• Monitoring tools – more control over what’s going on with your machine
• All the security tools you might need in a single application

What I didn’t like at Bitdefender Total Security 2011

• The installation is quite long; I know there are a lot of features in the product but can be a bit problematic to get through the steps if you don’t know how the product works
• Basic view is a bit too basic….
• In advanced view there are a lot of settings but might get hard to understand

The event is to take place in the kingdom for the second time in a row, will be attended by prominent entrepreneurs, investors, support organizations, government representatives and local innovators who come together to provide young people with the necessary support, education and inspiration. .

Farhan Kalaldeh, QRCE Executive Director said: “GEW activities were carefully designed to spotlight Jordan’s nascent culture of entrepreneurship, celebrate success stories and will include a series of specialized workshops to help participants develop business ideas.

Kalaldeh added: “These activities fall under QRCE’s efforts to promote the culture of entrepreneurship among different segments of Jordanian society in order to unleash creativity and support the economy.”

“Endeavor is a global supporter of GEW, and we are proud to be co-hosting the event this year in Jordan. We believe that local entrepreneurs are initiating private sector development in our country, and we would like to take the opportunity to educate the youth that entrepreneurs do not only change industries, but also create value-added jobs that are necessary for any growing economy.” said Carmen Saad, Endeavor Jordan’s Managing Director.

GEW this year will be conducted in partnership with a number of private and public organizations and associations, academic establishments, and businesses that have designed activities and events to engage students, educators, entrepreneurs, business leaders. GEW is a global event being organized in over 90 countries around the world. For one week, millions of young people around the world join a growing movement of entrepreneurial people, to generate new ideas and to seek better ways of doing things.

The conference will provide an opportunity for minority entrepreneurs to learn basic entrepreneurship skills, hear about contracting with the government and specific funding opportunities and network with other entrepreneurs and professionals that can help with their businesses.

“The addition of the Minority Entrepreneurship Conference is a natural fit with our mission both at the Edward Jones Center and Drury at large,” said Kelley Still, executive director of the EJC.

“Our relationships with the minority community are very important to us and have allowed us to develop meaningful programming for entrepreneurs in the community,” Still said.

The conference will highlight these keynote speakers

• Alan Green, director of the office of supplier and workforce diversity for the state of Missouri

• Lester Woods, external civil rights director for the Missouri Department of Transportation.

Read more here.

Ron McArthur, President of WSI, says, “WSI strongly believes in giving back to the community through several outreach programs, including our Make Child Poverty History (MCPH) fundraising campaigns, our Young Entrepreneurship Scholarship (YES!) Program and our newest initiative called Investing in America. Though the recession impacted markets all over the world, the US economy especially underwent a considerable downturn. By launching our Investing in America Program, we hope to do our part in helping to re-build the US economy, while offering young entrepreneurs and military veterans an opportunity to start their own business at a 50% discounted franchisee fee – perhaps an opportunity they may not be offered otherwise.”

WSI has set aside 30 single unit franchises for this program, each available at a discounted franchise fee of $24,700 USD. This opportunity is applicable to all new franchise applicants entering the selection process effective August 10, 2010. Young entrepreneurs can qualify for this opportunity if they are under the age of 28, have completed their high school education and can provide proof of said qualifications. Meanwhile, military veterans can qualify by providing a valid DD214 or alternative proof of completing military service. All applicants must be US citizens and, if they are selected, will operate their WSI digital marketing franchise in the US at a local license level.

To learn more about Investing in America, please watch this video: http://bit.ly/dmbk8X

“The great thing about this program is its ‘pay it forward’ approach,” says Ron McArthur. “All those who receive a WSI digital marketing franchise through Investing in America will be asked to invest back into their local communities. For example, they could donate a website or digital marketing services to a local church, non-profit organization, children’s program or community center. A young entrepreneur could offer to give a motivational speech at a school about business success or donate time to teach a class about digital marketing to a local college or university. These are just a few suggestions; all those in the program will have creative freedom to give back in unique ways best suited to their skills and the needs of their local communities.”

All franchisees in the Investing in America Program will have 5 years to complete the task of donating charitable acts in the total value of $25,000, which is equivalent to the 50% discount they received on the franchisee fee. Through the “pay it forward” component of the program, WSI hopes that not only will the US economy experience growth with the opening of additional digital marketing offices, but that local communities around the country will benefit through charitable acts delivered by their Investing in America franchisees.

All eligible, US-based young entrepreneurs and military veterans are invited to apply for the program by visiting www.wsiinvestinginamerica.com.

For more information, please visit www.wsiinvestinginamerica.com or contact Valerie Brown-Dufour at 1-905-678-7588 begin_of_the_skype_highlighting              1-905-678-7588      end_of_the_skype_highlighting ext. 1370 or vbrown-dufour@wsicorporate.com.

When I found out about www.municibid.com a couple of days ago, I didn’t realize that actually buying stuff from Uncle Sam might be a good thing for small businesses. After talking with my friend Jen, I realized I was actually missing two important things: municibid is a great example of finding a niche need and turning it into a business and second, small businesses can cut costs by purchasing from the government.

It never crossed my mind the US government didn’t have an efficient way to sell surplus and forfeited / seized goods and that you could actually find a way to start a business just from knowing this, but Greg Berry, municibid’s founder did.

In 2005, while serving in his first year as a town counselor in Pennsylvania, Greg felt the pain, first hand, of selling no longer needed items for far less than the market value using the sealed bid process… It was clear there were two issues… 1. No one knew the items were for sale and 2. The bidding was not truly competitive.  He knew there was a better way! So in 2007 municid.com was born.

But how does it help small businesses?

I believe that the crisis made purchasing from the government a viable option in 2 ways:

• small businesses need to cut costs but continue to grow; then buying cheaper it’s good news;

• government is trying to sell plenty of inventory to coupe with the budget and personnel reduction.

And here is municibid.com coming into place and helping small business owners have easier and more convenient access to the goods on sale as explained by Greg: “a town wants to sell a no longer needed police car…  they list the car on municibid, the listing is immediately pushed out all over the web (Google, Facebook, Twitter, LinkedIn (and many more) and item specific sites, such as the First Responders Network).  The car is exposed to a much broader, nationwide & global audience.   It is convenient to bidders (no travel, can bid when they want, no paperwork, etc) and is a much less intimidating process.  It opens the auctions to everyone, not just the “professional bidder.”

Through my interviews with entrepreneurs and my own experience  I’ve came to realize that success in entrepreneurship has little to do with education, luck or the economic environment. Of course, things can be easier or harder depending on where you are, but apart from this, the universal entrepreneurship essence says that entrepreneurs are people that find ways to adapt to the market and start successful businesses where everyone think there is no opportunity. For example, would a fashion business thrive in Africa? Well, it does, against all odds.

What I did find through the interviews was interesting: successful entrepreneurs have special personality traits. Determination to succeed; commitment towards growing the business against all odds; positive thinking. And I’ve always said there is something wrong about entrepreneur’s mind.

So what’s special about successful entrepreneurs personality? I’ve did a bit of research and I’ve came across a report called “Six Dimensions that Characterize Success-Oriented Small Business Owners” from The Guardian Life Small Business Research Institute:

• Collaborative. Success-oriented small business owners learn how to delegate effectively to others within their business as well as build strong personal relationships with their management team, employees, consultants, vendors and customers. They are more committed “to creating opportunities for others.”

• Self-fulfilled. Success-oriented small business owners place a high value on the personal fulfillment and gratification that their companies provide them, relishing the self-determination and respect that come from being their own boss and being in control of their personal income and long-term net worth. They are more desirous of “doing something for a living that I love to do,” “being able to decide how much money I make” and “being able to have the satisfaction of creating something of value.”

• Future-focused. Planning for both the short- and long-term future are key traits that characterize success-oriented small business owners. They are more focused on cash flow and more likely to have “a well thought out plan to run our business for years into the future” as well as “a well thought out plan to run our business day to day.”

• Curious. Success-oriented small business owners are more open to learning how others run their businesses. They actively seek best practice insights regarding management, business innovation, prospecting and finding / motivating / retaining employees.

• Tech-savvy. Technology is a key point of leverage for success-oriented small business owners. They more intensely value their company’s website and are significantly more likely to “rely a great deal on technology to help make our business more effective and more efficient.”

• Action oriented. Finally, success-oriented small business owners are more proactive in taking initiative to build their businesses.  They are more committed to “taking the business to the next level,” “differentiating ourselves from our competitors” and “having something to sell when I’m ready to retire.”  They also see adversity as “a kick in the rear to help move you forward.” Not surprisingly, they are less concerned than other small business owners about the overall state of the economy.

Don’t have these personality traits? Don’t worry, Steve Welch, a successful entrepreneur says  We Are All Born Entrepreneurs and wrote a book about this.