Better Business Bureau Offers Programs
and Resources for Business Owners

 

We often think of the Better Business Bureau as a place to lodge consumer complaints or to investigate the reputation of a person or organization you're doing business with.  As a business owner, you may seek BBB accreditation as a means of establishing or emphasizing your business's credibility. 

What you may not be aware of, however, is that the Better Business Bureau is also an informational resource for business owners and offers some free programs to help you in areas such as advertising, customer service, communication, and conflict resolution.

Visit their website at

http://www.bbb.org for information.

Announcing our newest workshop...

Cracking the Code: Bookkeeping Basics

 

Is the process of bookkeeping a mystery to you?  Are you a new entrepreneur sorting out your options for bookkeeping methods?  Are you an existing business owner who needs a better grasp of your financial picture?

 

In this two-hour workshop, you will learn key differences between bookkeeping and accounting, the fundamentals of every bookkeeping system, and how to understand the flow of financial paperwork.

SUMMER 2009 SCHEDULE

Virginia

Tuesday, July 21, 6:00 - 8:00 PM

Northeast Entrepreneur Fund, 8355 Unity Dr

Grand Rapids

Tuesday, August 18, 6:00 - 8:00 PM

Itasca Development Corp., 12 NW 3rd St

Cost for the workshop is normally $49.

Register now for our special summer 2009 rate of $39.

 

For more information, or to register, call 1-800-422-0374,

or email info@entrepreneurfund.org,

or register online at http://www.entrepreneurfund.org/register.html

 

Pre-registration is required for all workshops.

 

Duluth LISC (Local Initiatives Support Corp.) is sponsoring its annual “Connecting the Dots Showcase and Assembly” on Saturday, Sept. 26, 8:30 a.m. to noon at Marshall School in Duluth.  (NEF is a partner with LISC in the Growing Neighborhood Businesses initiative.) 

 

The event highlights the revitalization activities of the five core Duluth neighborhoods—East Hillside, Central Hillside, Lincoln Park, West Duluth and Morgan Park.  Last year’s event attracted over 300 participants. 

 

For more information, contact Lesley Kersten (lkersten@lisc.org) or Nan Stubenvoll (nstubenvoll@list.org) at Duluth LISC by phone 218-727-7761 or email. 

 

Over the past few years, we have seen an exponential growth of social networking online. Social networking giants, such as Facebook and MySpace, have changed so much of online culture. As businesses begin to tap into these sites as a new vehicle to reach potential customers you have to ask, is the time I'm spending on these social networking sites worth it?

 

Entrepreneur Connect asks just that. Do you spend too much time on social networking sites and is it worth it? They ask their contributors:

"As entrepreneurs, we can reach out to a whole new customer base by participating in social media. But, with new online communities popping up every day, where do you draw the line? How often do you sign on? Let's discuss."

To read reactions and advice to entrepreneurs on social networking go here:

http://econnect.entrepreneur.com/group_discussion.aspx?DiscussionID=e45bce34554d42dc9ed8196a4dd7199c

 

The American Recovery and Reinvestment Act of 2009 (ARRA) provides a number of energy tax incentives for both small and large businesses. Businesses and individuals who take advantage of these energy-saving steps this year may result see bigger tax savings next year.

 

Here are some of the major provisions that apply:

 

1. Extension of Renewable Energy Production Tax Credit: This law extends the “eligibility dates” of a tax credit for business facilities that use wind, closed-loop biomass, open-loop biomass, geothermal energy, municipal solid waste, qualified hydropower and marine and hydrokinetic renewable energy. The "placed in service date” is now Dec. 31, 2012 for wind facilities and Dec. 31, 2013 for the other facilities.

 

2. Election of Investment Credit in Lieu of Production Credit: Businesses that operate facilities that produce electricity from wind and some other renewable resources after Dec. 31, 2008 can now choose either the energy investment tax credit or the production tax credit. 

 

3. Repeal of Certain Limits on Business Credits for Renewable Energy Property:  ARRA repeals the $4,000 limit on the 30 percent tax credit for small wind energy property and the limitation on property financed by subsidized energy financing for property placed in service after Dec. 31, 2008.

 

4. Coordination with Renewable Energy Grants: Business taxpayers can apply for a grant in lieu of claiming either the energy investment tax credit or the renewable energy production tax credit for property placed in service in 2009 or 2010.

 

5. Temporary Increase in Credit for Alternative Fuel Vehicle Refueling Property: Qualified property placed in service in 2009 and 2010 is now eligible for a 50 percent credit, and the per-business location limit increases to $50,000. Property relating to hydrogen remains at the 30 percent rate, but the per-business location limit rises to $200,000.

 

In addition, there are several other energy credits available that small businesses should be aware of, such as:

 

6. Residential Energy Property Credit: The new law increases the energy tax credit for homeowners who make energy efficient improvements to their existing homes. The new law increases the credit rate to 30 percent of the cost of all qualifying improvements and raises the maximum credit limit to $1,500 for improvements placed in service in 2009 and 2010. The credit applies to improvements such as adding insulation, energy efficient exterior windows and energy-efficient heating and air conditioning systems.

 

7. Plug-in Electric Drive Vehicle Credit: The new law modifies the credit for qualified plug-in electric drive vehicles purchased after Dec. 31, 2009.

 

8. Plug-In Electric Vehicle Credit: The new law also creates a special tax credit for two types of plug-in vehicles — certain low-speed electric vehicles and two- or three-wheeled vehicles.

 

More information on these business energy tax incentives are available on IRS.gov at www.irs.gov/newsroom/article/0,,id=204335,00.htm.

 

To keep up with ARRA and other IRS tax news,

subscribe to e-News for Small Businesses at http://www.irs.gov/businesses/small/article/0,,id=154825,00.html

or type in “e-News for Small Businesses “ in the search box on IRS.gov and enter.

 

This Month's Featured Entrepreneurial Resources...

 

The Northland Connection
www.northlandconnection.com
 

The Northland Works
www.thenorthlandworks.org
 

The Northland Connection and The Northland Works are research websites containing tools and resources for new and growing businesses in the Northland, as well as news and events pertaining to our region's economy and workforce.