Lower costs with HSAs
Published On: January 1, 2010Categories: ManagementBy William J. Lynott As a business owner, you’re fighting what seems like a losing battle against rising health care costs. While this problem isn’t likely to disappear, the Health Savings Account (HSA) legislation, signed into law in 2003, offers you the possibility of making a dramatic reduction in your costs. The law made HSAs [...]
Adding value to your business
Published On: September 1, 2009Categories: Features, ManagementCollapsing financial system got you worried? Now is the time to focus on making your marine fabrication business strong. Thriving shop owners from around the country share insights and tips for selling, upselling, expanding, retaining customers and getting new ones, even in a tough economy. Give your customers “comfort food” At Signature CanvasMakers in Hampton, [...]
Choosing sole proprietorship or corporation
Published On: September 1, 2009Categories: ManagementThe wrong choice can be a costly mistake . Compiled from industry experts Nearly three-fourths of the millions of small businesses in the United States are sole proprietorships, according to the U.S. Department of Commerce. But is that the best choice for you and your business? That’s a question that you should consider carefully, whether [...]
Layoffs, terminations and tactics
Published On: September 1, 2009Categories: Features, ManagementFiscal reality, fair firing and responsible management. Compiled from industry experts It’s an unwelcoming and unrewarding responsibility, but given today’s troubled economy, almost every manager will eventually come face-to-face with the disagreeable task of terminating one or more employees. “Firing people is one of the toughest, most unpleasant things you do as an employer,” says [...]
Cut costs, not customers
Published On: July 1, 2009Categories: Features, ManagementThink like your customers before making cost management decisions. By Marc Hequet Getting a grip on how to navigate through difficult economic times is challenging even for the most seasoned business people. It may be tempting to fiddle with prices and expend significant resources in scrounging for new business, but experts advise a different path. [...]
A last resort financing fix and more
Published On: July 1, 2009Categories: ManagementBy Mark E. Battersby A recently announced $15 billion, multi-pronged plan is designed to help ease the credit crunch affecting so many marine fabrication businesses. One part of the plan earmarks extra funding for loans and technical assistance by the U.S. Small Business Administration’s (SBA) “microloan” lenders. In addition to extra funding for microloans, new [...]
Online toolkit offers materials to enhance marine industry
Published On: May 1, 2009Categories: Industry News, ManagementThe new Discover Boating Toolkit includes useful news, information and downloadable materials to develop and enhance marketing efforts within the marine industry. The materials are free, and industry stakeholders are able to personalize PR materials, affordability tools and the Spousal Conversion Kit. Industry statistics are included, as well as tips for business promotion, downloadable videos, [...]
Maintaining quality in a tough economy
Published On: May 1, 2009Categories: Features, ManagementSo you’re known for your quality…Great! But how are you supposed to sell quality in this economy? That’s the challenge manufacturers face: persuading discount-seeking buyers to pay a premium for top-of-the-line goods. It’s not so easy. “Prices are really becoming the selling point that we’ve noticed this year, and it probably will continue,” says Angela [...]
The changing workforce
Published On: May 1, 2009Categories: ManagementBy Pat Hayes, CPP Businesses across all industries face changes in workforce and labor needs. Finding the right person with the right skills suited to specific job requirements continues to be the crux of all labor issues. No matter the size of the company, business owners may face similar employee problems: turnover, lack of commitment [...]
Customer service keeps businesses afloat
Published On: May 1, 2009Categories: Features, ManagementFocusing on customer service can help navigate a tough economic climate. By Abbie Yarger Businesses are doing all they can to stay afloat in today’s economic environment, from layoffs to budget cuts. One thing they shouldn’t cut is customer service. Creating and sustaining good customer service in tough economic times can give businesses an advantage [...]