Sometimes businesses need a little capital to move ahead. Small Business Action Team can help

Kate Rowland - Second Wave / February 14, 2019

Lifelong Battle Creek resident Margaret Kirk had a problem. Her business, Massage Green SPA, was running on outdated computers that regularly broke down, causing lengthy delays for her customers and staff. In addition, the massage room equipment carts were rickety, unreliable and unappealing. She didn’t have the necessary capital in hand to replace the equipment […]

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A majority of small-business owners think a recession is coming: Survey

Eric Rosenbaum - CNBC / February 11, 2019

Main Street has caught up to Wall Street, at least when it comes to increased fears of a recession. A narrow majority of small-business owners across the United States expect a recession in the next year, according to the latest CNBC/SurveyMonkey Small Business Survey. This was the first time in the two-year-plus history of the […]

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Q&A: J.D. Collins, State director, Small Business Development Center

Mark Sanchez - MiBiz / February 6, 2019

J.D. Collins became state director of the Grand Rapids-based Small Business Development Center in mid-December. He spent years at larger organizations — Fifth Third Bank, Amway, Spectrum Health — working as a technologist and innovator “before I really found my niche.” Collins also ran his own consulting firm, Collins Innovations LLC, and was chief innovation […]

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Small-business owners look to grab this 20 percent tax break

Darla Mercado - CNBC News / February 4, 2019

Certain entrepreneurs may be eligible for a 20 percent deduction on qualified business income, which they can take on their 2018 tax return. Business owners with 2018 taxable income below $157,500 if single or $315,000 if married and filing jointly may qualify. Are you a landlord? Special rules apply. Small-business owners filing their 2018 taxes […]

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New Minimum Wage Laws in Michigan

Michigan Chamber of Commerce / January 31, 2019

The Michigan Chamber applauds the Michigan Senate and House for passing legislation to make Michigan’s new minimum wage law workable for employers. The Legislature adopted a ballot proposal in September that, if left to stand, would have taken the minimum wage from $9.25 to $12 per hour by January 1, 2022. This would have resulted in […]

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Five ways smart companies maintain growth and profitability

Plante and Moran: Tim Weed, Daron Gifford, Dennis Bagley, Ron Gantner, Plante Moran Cresa, Phil Gilbert / January 22, 2019

Savvy business owners and executives consistently push to maximize growth, profitability, and value — in any economy. These strategies help you leverage upcycles, weather downturns, and achieve your growth and value targets.  The economy is relatively healthy, but history has taught us that growth cycles don’t last forever. It’s not if there will be an […]

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2019 Employment Law Update: Top 10 Hot Button Topics

January 21, 2019

Employers are challenged daily to comply with ever-changing state and federal laws and regulations that directly impact the workplace. On top of that, you need to keep supervisors educated about those changes, make relevant updates to company policies and manage public perception. If you don’t stay vigilant, you could face substantial legal cost and negative […]

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Gov. Whitmer Signs Executive Order Encouraging Expanded Business Opportunities for Geographically-Disadvantaged Business Enterprises in Michigan

January 18, 2019

To: State Department Directors and Autonomous Agency Heads From: Governor Gretchen Whitmer Date: January 2, 2019 Re: Encouraging Expanded Business Opportunities for Geographically-Disadvantaged Business Enterprises in Michigan Recently, too many communities in Michigan have been struggling with population losses, decreased economic activity, and reduced public funding.  These factors negatively impact the ability of businesses located […]

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Looking to Invest in Your Business? Make Sure You Know About Opportunity Zones!

Dan Papineau / January 18, 2019

Opportunity Zones are a new concept recently enacted in the 2017 Tax Cuts and Jobs Act. The program is designed to incentivize patient capital investments in low-income communities nationwide that have been cut off from capital and experienced a lack of business growth. There are three types of tax incentives that relate to the treatment […]

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Business Taxpayers Should Be On Alert for W-2 Phishing Scam

Michigan Department of Treasury / January 15, 2019

Cybercriminals Impersonate Persons of Authority within Organizations Business taxpayers should be extra alert for cybercriminals attempting to steal W-2 forms and other sensitive information through a phishing scam, according to the Michigan Department of Treasury. In a typical scenario, cybercriminals impersonate persons of authority within a company and send an email to payroll personnel asking […]

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