Celebrating Small Businesses!
Media mogul Ted Turner once said, “My son is now an ‘entrepreneur.’ That’s what you’re called when you don’t have a job.” As amusing as this quote is, we know our society owes a lot to those whose entrepreneurial spirit have led to innovations we now take for granted. It’s hard to imagine a world without the contributions of giants like Henry Ford, Thomas Edison, Walt Disney, Steve Jobs, or Bill Gates. Who knows where the next great entrepreneur will be found?
That’s why April 29 – May 5 has been declared National Small Business week. An annual event hosted by the U.S. Small Business Administration (SBA), the week was first celebrated in 1963. It is estimated that over half of Americans either own or work for a small business, and small businesses are responsible for creating two out of every three new jobs in the United States each year. This is certainly worthy of celebration!
The SBA’s website has a section dedicated to National Small Business week. Check out the events and resources available for those who are considering starting a business or who already own one. Of particular interest is the virtual conference which will feature a number of free webinars on topics such as marketing, consumer insights, management, and economic forecasts.
In addition to the national resources provided by the SBA, North Carolinians have access to a wealth of business information through the N.C. Community College Small Business Center Network. Started in 1984, the network now has over 60 small business centers on community college campuses throughout the state, with most state citizens living within thirty minutes of a Small Business Center (SBC). The SBC website includes information on writing a business plan, doing market research, securing funding, understanding permit and license requirements, and choosing a business structure. Local centers offer a variety of free classes, seminars, and consultations to help entrepreneurs navigate the process of forming a small business. Contact your local community college for more information on what’s available in your area.
If you’re ready to get started on your own business, Down South Accounting & Tax offers new business consultations. During this meeting, we’ll discuss the tax implications of the various entity choices available, payroll considerations business owners need to be aware of (such as properly classifying workers, payroll taxes, and reporting requirements), considerations when choosing an accounting method, and tips for proper record keeping. Once established, business owners can count on us to provide payroll and accounting services as well as to handle tax return preparation and tax planning.
Walt Disney said, “If you can dream it, you can do it,” and Cinderella said “A dream is a wish your heart makes.” If you’ve been dreaming of becoming a business owner, take advantage of the many resources available to you to turn your dream into reality. What better time than during National Small Business Week? And to those who already live the dream of business ownership, congratulations! Regardless of where you are on the entrepreneurial journey, give us a call to see how Down South can be of assistance.